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Hyperion Exploration (TSXV:HYX) announced positive test results from its latest step-out Cardium horizontal light oil well in the Niton/McLeod area.
As quoted in the press release:
The Company’s second Cardium horizontal well (“02-02”) in the Niton/McLeod area has been successfully drilled and stimulated using a 20 stage, water based frac. During the 36 hour flow test, the well continued to recover load fluid (water) from the fracturing operations and new reservoir oil. During the last six hours of the test, the well achieved a daily equivalent light oil rate of 400 bbl/day with 249 mcf/day of solution gas (approximately 441 boe/day, 90% light oil). Hyperion has now shut-in the 02-02 well to finalize equipping and tie-in operations with full production expected to start in early November. Based on the encouraging results from the 02-02 well, Hyperion intends to spud the next well at McLeod by mid-November.
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