Strategic Reports on Progress of Recently Completed Muskeg Wells

Strategic Oil & Gas Ltd. (TSXV:SOG) announced that its two recently completed Muskeg wells are producing at a combined rate of 1,587 barrels of oil equivalent per day (83-percent oil).

The company also said that Michael Graham has joined its board of directors as an independent member.

As quoted in the press release:

Two west Muskeg wells 15-24 and 1-25 were recently brought on production and are free flowing oil wells. Over the last three days of the production test, well 15-24 produced at an average daily rate of 848 boe/d (81% oil) and well 1-25 produced at an average daily rate of 614 boe/d (88% oil). The two wells have recovered approximately 30% of the load fluid and are still cleaning up. The combined daily test rate for the two wells over the last 24 hours was 1,587 boe/d (83% oil).

Muskeg well 11-24 has produced 29,000 boe in the first 51 days with limited decline. Corporate production excluding the two new Muskeg wells is 3,500 boe/d. The two new Muskeg wells (15-24, 1-25) have added flush production increasing current corporate production to over 4,600 boe/d. Two north Muskeg wells (2-26 and 14- 23) have been drilled and completed and a west Muskeg well (1-23), is currently being drilled. Strategic plans to drill up to six additional wells during the fourth quarter of 2014.

Click here to read the full Strategic Oil & Gas Ltd. (TSXV:SOG) press release.