Pulse Oil Identifies New Targets Following Geotechnical Evaluation

Pulse Oil (TSXV:PUL) reports that the company has completed a geotechnical evaluation of 3-dimensional seismic data covering 24 sections (15,360-acres) of land centred on Pulse’s light oil-prone Queenstown acreage in South Central Alberta.

Pulse is based in Canada and is focused on becoming a leading oil and gas company. Pulse owns 100 percent interest in the Bigoray area assets of Alberta, Pulse also owns 100 percent interests in producing assets in the Queenstown area of Alberta.

As quoted in the press release:

This 3D seismic data set is critical for asset optimization and Pulse’s advanced Amplitude vs. Offset (AVO) work has now tied accurately the seismic data to the “sweet spots” in its existing horizontal wells. The geotechnical study has led to the identification of eight further development locations, all targeting the highest porosity and permeability sections of the light oil-prone Glauconite Lithic Channel trend previously discovered on Pulse’s land.

“This advanced geophysical work has given us more confidence in our ability to target the absolute best locations for our upcoming horizontal development drilling program. Previously, our best well in the area initially produced (“IP’d”) at over 400 BOE/d, whereas some of the more average wells that were not drilled in the sweet spots we have now identified IP’d at around 100 BOE/d. Obviously our plan will be to target the potentially highest producing zones, and this new work gives us greater confidence we can do just that. We expect to be initiating this drilling program later in the year, and we look forward to the potential new production and associated cash flow,” Pulse president, Drew Cadenhead said.

Click here to read the full press release