Purepoint Uranium Commences Initial Drill Program Along Groomes Lake Conductive Corridor, Smart Lake JV Project

Purepoint Uranium Commences Initial Drill Program Along Groomes Lake Conductive Corridor, Smart Lake JV Project

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce the commencement of a first-pass drill program along the high-priority Groomes Lake Conductive Corridor at the Smart Lake Joint Venture (JV) project in Saskatchewan's Athabasca Basin. The program will include four drill holes, totalling approximately 1,400 metres, to test the conductive belt of rocks refined by the 2024 ground electromagnetic (EM) survey.

The Smart Lake Project is a joint venture between Cameco Corporation (73%) and Purepoint (27%) and is located approximately 60 km south of the former Cluff Lake uranium mine and 18 km west-northwest of Purepoint's Hook Lake JV project.

"We are excited to launch this next phase of exploration at Smart Lake," said Chris Frostad, President & CEO of Purepoint Uranium. "While Smart Lake has seen previous drilling, this is the first time we are targeting our high-priority Groomes Lake conductors that were refined by the recent ground EM survey. Given the project's geological similarities to other major uranium deposits in the Athabasca Basin, we believe this program has the potential to advance Smart Lake's exploration story significantly."

Highlights

  • Targeting recently refined high priority Groomes Lake Conductive Corridor (Figure 1)
  • 4 diamond drill holes planned, totaling 1,400 metres
  • Strong exploration partnership with Cameco enhances project development
  • Building on historical drilling success that confirmed basement-hosted uranium mineralization

Advancing a High-Potential Uranium Target

The Groomes Lake Conductive Corridor will be targeted by the 2025 drill program and builds on Purepoint's late-2024 stepwise-moving loop and fixed loop time domain electromagnetic (EM) survey conducted by Diaz Geophysical. The survey outlined three discrete, parallel EM conductors for over 2.2 kilometers (Figure 1). The three EM conductors are approximately 100 metres apart, lie within a magnetic low response and are conformable with interpreted geologic contacts. Airborne geophysics show the conductors continue westward onto NexGen's neighbouring SW1 Project for an additional 2 kilometres.

The historic vertical hole SAM-13 failed to explain the conductor source and is now assumed to have stopped approximately 45 metres short of the intended target. Inversion of the Groomes Lake conductivity results suggest the conductors continue to depth and present an excellent opportunity for a basement hosted 'Arrow'-style discovery.

Previous drilling at Smart Lake intersected anomalous uranium within faulted and altered basement rocks, with drill hole SMT08-05 returning 147 ppm U over 15.4 metres (153.0 to 168.4 metres) from a hematite breccia and faulted sheared zone. The current drill program will test conductors in a structurally complex setting that has demonstrated the potential to host significant uranium mineralization.

Strategic Positioning in the Athabasca Basin

Purepoint continues to advance a highly prospective project portfolio in the Athabasca Basin, leveraging its strong partnerships with Cameco and other industry leaders. With uranium prices strengthening and the global supply-demand gap widening, the Company remains committed to unlocking new uranium discoveries through systematic, high-quality exploration.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_002.jpg

Figure 1: Groomes Lake Conductive Corridor - 2024 Stepwise-Moving Loop (SWML) and Fixed Loop (FL) Time Domain Electromagnetic survey results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_003.jpg

Figure 2: Smart Lake Project Location

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_003full.jpg

About Smart Lake

The Smart Lake Project is located approximately 60 km south of the historic Cluff Lake mine and 18 km west-northwest of the Hook Lake JV Project (Figure 2). The property spans 9,860 hectares within the Athabasca Basin, an area renowned for hosting the world's highest-grade uranium deposits.

Initial exploration at Smart Lake established the presence of graphitic shear zones, hydrothermal alteration, and anomalous radioactivity. The favourable geological indicators, combined with its strategic location and extensive geophysical data, position Smart Lake for uranium exploration success.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.

Additionally, the Company holds a promising VMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Mining Corporation's McIlvenna Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.

Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of the future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244614

News Provided by Newsfile via QuoteMedia

PTU:CA
Purepoint Uranium

Purepoint Uranium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Purepoint Uranium (TSXV:PTU, OTCQB:PTUUF)

Purepoint Uranium


Keep reading...Show less

Backed by Industry Leaders. Built for Large-Scale Exploration

Purepoint Uranium Closes Final Tranche of $6 Million Private Placement

Purepoint Uranium Closes Final Tranche of $6 Million Private Placement

Purepoint Uranium Group Inc. (TSXV: PTU,OTC:PTUUF) (OTCQB: PTUUF) ("Purepoint" or the "Company") announces the closing of the final tranche of its previously announced private placement (the "Private Placement") comprising of a combination of:

  • 5,768,824 Saskatchewan charity flow through units (the "SK Flow Through Units") at a price of $0.65 per unit for aggregate gross proceeds of $3,749,735.60; and
  • 3,041,295 National charity flow through units (the "NT Flow Through Units", together with the SK Flow Through Units, the "Flow Through Units") at a price of $0.59 per unit for aggregate gross proceeds of $1,794,364.05.

"This final tranche not only completes our raise but strengthens our alignment with IsoEnergy and reinforces our shared commitment to long-term uranium discovery in the Basin," said Chris Frostad, President & CEO of Purepoint. "With exploration now underway across several properties, this financing ensures we can move into the fall and winter seasons with both momentum and flexibility."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Sets Final Size of Private Placement at $6 Million

Purepoint Uranium Sets Final Size of Private Placement at $6 Million

Purepoint Uranium Group Inc. (TSXV: PTU,OTC:PTUUF) (OTCQB: PTUUF) ("Purepoint" or the "Company") announces that it has set the final size of its previously announced non-brokered flow-through private placement (the "Offering") at $6,000,000. The book is now fully subscribed, and no further subscriptions will be accepted.

The Offering will now be comprised of a combination of the following:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Increases Flow-Through Private Placement to $5,000,000

Purepoint Uranium Increases Flow-Through Private Placement to $5,000,000

Purepoint Uranium Group Inc. (TSXV: PTU,OTC:PTUUF) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce that due to strong investor demand, it has increased the offering size of the non-brokered private placement, previously announced on August 13, 2025, from $3,000,000 to $5,000,000 (the "Offering").

IsoEnergy Ltd. (TSX: ISO) (NYSE American: ISOU) ("IsoEnergy"), the Company's joint venture partner for the Dorado, Aurora and Celeste projects, located in the Athabasca Basin, Saskatchewan has confirmed its intention to invest $1,000,000 in support of the Company's financing efforts.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Announces $3 Million Charity Flow-Through Private Placement

Purepoint Uranium Announces $3 Million Charity Flow-Through Private Placement

Purepoint Uranium Group Inc. (TSXV: PTU,OTC:PTUUF) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced a non-brokered private placement (the "Offering") for aggregate gross proceeds of up to $3,000,000 from the sale of a combination of the following:

  • Saskatchewan flow-through units of the Company (each, a "SFT Unit") at a price of $0.65 per SFT Unit with each SFT Unit consisting of one common share of the Company to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (each a "SFT Share") and one common share purchase warrant (each, a "Warrant"); and
  • National flow-through units of the Company (each, a "NFT Unit", together with the SFT Unit, the "CFT Units") at a price of $0.59 per NFT Unit with each NFT Unit consisting of one common share of the Company to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (each a "NFT Share", together with the SFT Shares, the "FT Shares") and one Warrant.

Each Warrant entitles its holder to purchase one common share of the Company (each a "Warrant Share") at an exercise price of $0.50 per share for a period of 24 months from the date of issuance.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Group Inc. Closes $1 Million Private Placement

Purepoint Uranium Group Inc. Closes $1 Million Private Placement

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced today the closing of its previously announced non-brokered private placement (the "Private Placement"). In connection with the closing, the Company issued 4,607,200 flow-through units ("Flow-Through Units") at a price of $0.23 per unit for aggregate gross proceeds of $1,059,656. Each Flow-Through Unit consists of one common share in the capital of the Company issued on a "flow through" basis pursuant to the Income Tax Act (Canada) and one-half (12) common share purchase warrant. Each whole warrant entitles its holder to purchase one common share in the capital of the Company at an exercise price of $0.30 per share for a period of 24 months from the date of issuance.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Terra Clean Energy Corp. Announces Agreement to Earn 100% Interest in 75 Past Producing Uranium Claims on The San Rafael Swell, Utah, United States

Terra Clean Energy Corp. Announces Agreement to Earn 100% Interest in 75 Past Producing Uranium Claims on The San Rafael Swell, Utah, United States

Terra Clean Energy CORP. (" Terra " or the " Company ") (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF FSE: 9O0) is pleased to announce terms to acquire up to a 100% interest in 75 uranium claims in Emery County, Utah, United States.

Transaction Highlights

  • Nine Past Producing Uranium mines covered on the Claims having produced several hundred thousand tons of ore grading up to 1% U308
  • Visible Uranium, Vanadium, Copper and Cobalt at Surface with numerous uranium readings up to 21,000 CPS equating to grades .22% U308
  • Close Proximity to major roads with good year round access, power and a uranium mill located within a 75 mile drive
  • Strong Government support for nuclear power and uranium mining projects and a stated objective to reduce reliance on foreign nuclear fuel
  • Staged earn-in allows the company to optimize exploration programs
  • Provides Terra shareholders exposure to two North American assets both with near surface Uranium opportunities in low-risk jurisdictions

Greg Cameron stated "One of my stated goals with Terra was to add another low-risk uranium project to the Company and this transaction does just that. Having toured the properties with our VP Exploration, it is clear from the moment you arrive you are in a uranium district with many old workings, adits, shafts and old infrastructure. I am excited to see work begin this fall and believe there to be a clear path to add significant value for our shareholders."

Rationale Behind the Acquisition

Green Vein Mesa and Wheal Anne Claims offer exposure to uranium projects in the USA with excellent upside in a significant historical uranium district. Terra has made a strategic decision to acquire the Green Vein Mesa and Wheal Anne Claims due to the belief there is more minable uranium present. It is important to note that the encompassing claims have a production history. Both sets of claims are in ideal locations, situated near main roads, secondary roads and have access to power and water sources. In the past, mining operations focused on ore found at or near surface. The process of oxidation led to the formation of various secondary uranium minerals. The Trump Administration has recently enacted historic policies designed to accelerate nuclear power and uranium mining activity in the country"

"This initial project in San Rafael Swell offers significant upside as it is clear that these old mines were abandoned in the 1970's due to a uranium market collapse not because they ran out of uranium to mine," stated Greg Cameron, CEO of Terra. "We believe strongly that we can expand on the previous work through modern exploration technologies like 3D modelling"  added Trevor Perkins VP Exploration.

Project Overview

The San Rafael Swell is a large, uplifted, doubly-plunging anticline in east-central Utah and the Swell forms part of, but contrasts with the surrounding flat-lying rocks, of the Colorado Plateau, a significant uranium mining district in the Western United States. Historical uranium production was undertaken in the region between the late 1940's into the 1970's.  No significant work has been completed in the region in the past 50 years.

The rocks in the San Rafael Swell are predominately sedimentary (Pennsylvanian through Cretaceous), including Triassic and Jurassic formations that are known to host uranium. The project area is underlain by Triassic aged sedimentary rocks of the Moenkopi and Chinle formations. The Chinle outcrops in a continuous belt around the San Rafael Swell and on isolated buttes through the center of the swell. It is widely believed that volcanic ash is the source of uranium for many deposits in the swell. All existing mines and prospects in the Chinle are in the lower, bentonitic part of the Chinle in channel-fill sandstone and surrounding siltstones of the lower Chinle Formation. .  In the Green Vein Mesa area these occur as scour channel fill at the contact with the underlying Moenkopi Formation.

The project is separated into two claim groups 10 km apart. The Wheal Anne Claim Group is the southwest of the two and encompasses approximately 130 hectares covering the former producing Lucky Strike Mine and related uranium occurrences. The Lucky Strike Mine was discovered in 1949 and produced more than 10,000 tons of ore grading 0.22% U 3 O 8 and 0.09% V 2 O 5 . 1

The Green Vein Mesa Claim Group to the northeast encompasses approximately 300 hectares and covers the former producing Payday Mine, Hertz Mine, and Green Vein group of mines. Production numbers for these mines were not located, however the Hertz Mine reportedly had local samples up to 1% U 3 O 8 . 2

A map of a desert with red stars AI-generated content may be incorrect.

Figure 1:  Map of the San Rafael Swell from the Utah Geological Survey. The Wheal Anne and Green Vein Mesa Claim Group locations are shown by the red stars.

Please click to view image

A map of a desert AI-generated content may be incorrect.

Figure 2:  Overview of the Wheal Anne (West)and Green Vein Mesa (East) Claim Groups

Please click to view image

A satellite image of a mountain range AI-generated content may be incorrect.

Figure 3:  The Wheal Anne Claim Group, covering the historical Lucky Strike and Commonwealth Uranium Mines and showings.
Please click to view image

A map of a mountain range AI-generated content may be incorrect.

Figure 4:  The Green Vein Mesa Claim Group, covering the historical Payday, Hertz, Green Vein Group, and Green Vein #5 Uranium Mines.
Please click to view image

A hand holding a device AI-generated content may be incorrect.

Figure 5: Uraninite vein near the Payday Mine workings.
Please click to view image

A wooden structure on a hill AI-generated content may be incorrect.

Figure 6: Green Vein Group Mine workings and ore chute.
Please click to view image

Transaction Overview

To earn its respective interests in each of the Wheal Anne Claims and the Green Vein Mesa, the Company would be required to make the following cash payments, common share issuances and incur exploration expenditures on the respective claims as follows:

Wheal Anne Claims

Cash Payment Share Issuance Exploration Expenditures
To earn a 20% interest USD$20,000 on execution of definitive agreement 500,000 common shares within five business days of the execution of definitive agreement Incur USD$100,000 in expenditures on or before the 1 st year anniversary of the execution of definitive agreement
To earn a 40% interest Additional USD$33,333 on or before the 1 st year anniversary of the execution of definitive agreement Additional 500,000 common shares on or before the 1 st year anniversary of the execution of definitive agreement Incur additional USD$33,333 in expenditures on or before the 2 nd year anniversary of the execution of definitive agreement
To earn a 60% interest Additional USD$46,666 on or before the 2 nd year anniversary of the execution of definitive agreement Additional 500,000 common shares on or before the 2 nd year anniversary of the execution of definitive agreement Incur additional USD$33,333 in expenditures on or before the 3 rd year anniversary of the execution of definitive agreement
To earn an 80% interest Additional USD$60,000 on or before the 3 rd year anniversary of the execution of definitive agreement Additional 500,000 common shares on or before the 3 rd year anniversary of the execution of definitive agreement Incur additional USD$33,334 in expenditures on or before the 4 th year anniversary of the execution of definitive agreement
To earn a 100% interest Additional USD$73,333 on or before the 4 th year anniversary of the execution of definitive agreement Additional 500,000 common shares on or before the 4 th year anniversary of the execution of definitive agreement Incur additional USD$33,333 in expenditures on or before the 5 th year anniversary of the execution of definitive agreement

** Subject to the retention by the Vendors of a two percent (2%) net royalty on the Wheal Anne Claims (the " Wheal Anne Royalty "), with Terra Clean having the option to purchase fifty percent (50%) of the Wheal Anne Royalty at any time by making a total cash payment to the Vendors in the amount of USD$666,666.

Green Vein Mesa Claims

Cash Payment Share Issuance Exploration Expenditures
To earn a 20% interest USD$10,000 on execution of definitive agreement 250,000 common shares within five business days of the execution of definitive agreement Incur USD$50,000 in expenditures on or before the 1 st year anniversary of the execution of definitive agreement
To earn a 40% interest Additional USD$16,667 on or before the 1 st year anniversary of the execution of definitive agreement Additional 250,000 common shares on or before the 1 st year anniversary of the execution of definitive agreement Incur additional USD$13,334 in expenditures on or before the 2 nd year anniversary of the execution of definitive agreement
To earn a 60% interest Additional USD$23,334 on or before the 2 nd year anniversary of the execution of definitive agreement Additional 250,000 common shares on or before the 2 nd year anniversary of the execution of definitive agreement Incur additional USD$13,334 in expenditures on or before the 3 rd year anniversary of the execution of definitive agreement
To earn an 80% interest Additional USD$30,000 on or before the 3 rd year anniversary of the execution of definitive agreement Additional 250,000 common shares on or before the 3 rd year anniversary of the execution of definitive agreement Incur additional USD$13,334 in expenditures on or before the 4 th year anniversary of the execution of definitive agreement
To earn a 100% interest Additional USD$36,667 on or before the 4 th year anniversary of the execution of definitive agreement Additional 250,000 common shares on or before the 4 th year anniversary of the execution of definitive agreement Incur additional USD$13,334 in expenditures on or before the 5 th year anniversary of the execution of definitive agreement

**  Subject to the retention by the Vendors of a two percent (2%) net royalty on the Green Vein Mesa Claims (the " Green Vein Royalty "), with Terra Clean having the option to purchase fifty percent (50%) of the Green Vein Royalty at any time by making a total cash payment to the Vendors in the amount of USD$333,334.

The agreements to acquire an interest in each of the Wheal Anne Claims and the Green Vein Mesa Claims remains subject to the receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange.

All securities issued in connection with these agreements would be subject to a four-month plus one day hold period from the date of issuance in accordance with applicable securities laws.

About Terra Clean Energy Corp.

Terra Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project within the Fraser Lakes B Uranium Deposit, located in the Athabasca Basin region, Saskatchewan, Canada as well as developing past producing Uranium mines in the San Rafael Swell Emery County, Utah, United States

ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.

"Greg Cameron"
Greg Cameron, CEO

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company's Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.

* The historical results, production, and interpretation described here in have not been verified and are extracted from US Geological Survey reports.  The Company has not completed sufficient work to confirm and validate any of the historical data contained in this news release. The historical work does not meet NI 43-101 standards.  The Company considers the historical work a reliable indication of the potential of the San Rafael Swell and the information may be of assistance to readers.  Information collected during a site visit in September 2025 was collected using an RS-225 "Super-Spec" Spectrometer manufactured, inspected and calibrated in 2025.

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company's public filings available under the Company's profile at www.sedarplus.ca .

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Greg Cameron, CEO
info@tcec.energy


Terra Clean Energy Corp
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
www.tcec.energy

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - TCEC

Canadian Investment Regulatory Organization Trade Resumption - TCEC

Trading resumes in:

Company: Terra Clean Energy Corp.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Stallion Uranium Announces Grant of Options

Stallion Uranium Announces Grant of Options

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Stallion Uranium Corp. (the " Company " or " Stallion " ) ( TSX-V: STUD ; OTCQB: STLNF ; FSE: FE0 ) is pleased to announce that under the Company's stock option plan dated October 8, 2024 (the " Plan "), the Company has granted a total of 3,100,000 stock options (" Options ") to certain directors, officers and consultants of the Company.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Alvopetro Announces August 2025 Sales Volumes

Alvopetro Announces August 2025 Sales Volumes

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces August sales volumes of 2,375 boepd, based on field estimates. In Brazil August sales volumes averaged 2,257 boepd, including natural gas sales of 12.7 MMcfpd, associated natural gas liquids sales from condensate of 132 bopd and oil sales of 9 bopd. The large relative contribution of production from our 100% Murucututu field in August relates to the start of production from our 183-D4 well which commenced production later in August. From August 20 through September 3 the 183-D4 well produced at an average rate of 162 e 3 m 3 d (5.7 MMcfpd, 954 boepd) and we recovered 5,482 barrels of completions fluid and 1,033 barrels of natural gas liquids from condensate. Over the past 24 hours the well is producing through a constant 3664"choke at an average rate of 179 e 3 m 3 d (6.3 MMcfpd, 1,052 boepd) with a 1,015 psi flowing wellhead pressure and recovered 151 barrels of condensate (total well production 1,203 boepd) and 117 barrels of completions fluid. There are 10,322 barrels of 15,806 barrels of completions fluid left to recover. Given these extremely strong production results we are currently producing the Murucututu field from this single well as we are limited by our current facility capacity at Murucututu. As we continue to monitor these initial flow results, we will be evaluating options to improve production capacity of the system to allow for more production from the Murucututu field.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Purepoint Uranium

Purepoint Uranium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×