If these wells perform like the first and the NAL well TOL should have more upside:
- The first well in the program, in which TriOil has a 20 percent
working interest, commenced production at a rate of approximately
700 boe/d post recovery of frac fluid and had a first month average
production rate of approximately 180 bbl per day;
- The second well in the program at 3-26-26-3 W5M was drilled
horizontally 1,200 meters in the Cardium zone and has just been
completed with a multi stage 20 tonne fracture stimulation. TriOil
has a 55 percent working interest in the 3-26 well and production
testing is currently underway on this well;
- The third well in the program at 1-36-26-4 W5M was drilled
horizontally 1,000 meters in the Cardium zone and a multi stage
fracture completion is scheduled for the first week in October.
TriOil has a 60 percent working interest in the 1-36 horizontal well;
- The fourth well in the program has been licensed at 13-1-27-3 W5M and
is expected to commence drilling in the last week of September.
TriOil has a 50 percent working interest in the 13-1 horizontal well;
- The fifth well in the program has been licensed at 1-10-27-3 W5M and
is expected to commence drilling in the last week of September.
TriOil has a 30 percent working interest in the 1-10 horizontal well;
- The sixth well in the program has been licensed at 4-12-26-4 W5M and
is expected to commence drilling in the third week of October
utilizing the same drilling rig from the 13-1 horizontal well. TriOil
has a 100 percent working interest in the 4-12 horizontal well.