Strata-X Moves Forward with Development of Burkett 5-34HOR Well

Strata-X Energy Ltd. (TSXV:SXE) announced that it is moving forward with the development of the Vail oil project’s horizontal Burkett 5-34HOR well. It has put out 100 barrels of oil in the last 24 hours.

Other highlights include:

• Oil sales have commenced, last sales @ $93/bbl.
• Production test of the targeted Lingle formation continuing.
• Flared gas remains steady at an estimated 100 MCFD.
• Permanent production facilities are being installed.

Tim Hoops, president of Strata-X, commented:

We’re very pleased with the results and trends that we see so far in the production testing of our Burkett 5-34 HOR well. We believe that the original stimulation of this well, encountered both the targeted Lingle Formation and an adjacent zone that contains higher water concentrations.  As we continue to draw down the hydrostatic pressure in the well, we are continuing to see an increase in our oil production rates. It is still early days in the production testing program, but these results are encouraging.

Click here to read the full Strata-X Energy Ltd. (TSXV:SXE) press release.