Pulse Oil Corp. Announces transactions to increase its interest at Bigoray to 100%

Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL) announces that Pulse has agreed to terms on two transactions to consolidate its interests in the Bigoray Assets. After the completion of the transactions, Pulse will hold a 100% working interest in the Nisku-D Pool and the Nisku-E Pool acreage previously owned by Pulse and two other parties, which together held an estimated 26 million barrels of petroleum initially in place (“PIIP”) as published by the Alberta Energy Regulator, of which approximately 9.3 million boe (averaging 35% of estimated PIIP) has been recovered to date using secondary water-flood recovery techniques. Pulse plans to execute a cost-effective miscible flood project to target the recovery of up to an additional 12 million barrels of estimated remaining recoverable reserves which would represent an 80% recovery factor, the average in nearly 50 offsetting Nisku Pinnacle Reef pools surrounding the Nisku D and E pools.
As quoted in the press release:

Pulse CEO, Garth Johnson commented, “The asset swap to consolidate the interests in the Nisku-D pool is a strategic transaction that opens up substantial upside for Pulse. We will swap our JV’s interest in mature assets that have already undergone a miscible flood, recovering an estimated 87% of the PIIP. In return we will receive an interest in a similar pool that has yet to have undergone miscible flooding, and which has been estimated to have recovered just 35% of the PIIP to date. With this transaction and the acquisition of our partner’s interest at Bigoray, we will have increased reserves and taken control of the Bigoray Assets. We are excited about the upside of implementing an Enhanced Oil Recovery miscible flood scheme (“EOR”) similar to the dozens of analogue pools surrounding the Bigoray Nisku-D and E-Pools. With control of these assets, we are positioned to add substantial value to our reserves, without having to drill a well or assume unacceptable amounts of risk often associated with projects in our industry. The Nisku-D and E-Pools have already been under water flood for years and include most of the necessary infrastructure we need to execute our miscible flood program. We began Pulse as a low-cost, low-risk oil and gas company and we are focused on offering our investors, projects that can provide substantial upside as we execute on our plan. Our progress to consolidate these Bigoray assets is a significant growth opportunity for Pulse going forward.”

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