Leucrotta Exploration provides information on Montney light oil and liquids-rich Montney gas projects

Monday, February 29, 2016      

Leucrotta Exploration Inc. (TSX VENTURE:LXE) is pleased to announce an update on its Light Oil and Liquids-rich Montney projects in the greater Dawson-Doe area of Northeast British Columbia.

Montney Light Oil:

The Mica 8-22 horizontal well was drilled with a 1,537 meter horizontal lateral and completed using 60 tonne slickwater fracs at 55 metre intervals for a total of 26 stages. The drill and complete cost of the well was $3.9 million. At the end of an initial 8-day test period, the well was flowing at an average rate of approximately 713 boe/d (300 bopd of 41 API sweet light oil, 55 boepd of NGL's, and 2.2 mmcf/d of natural gas).

The previous Mica Light Oil well was completed in Q1 2015 and tested at approximately 472 boepd (195 bopd of light oil, 35 boepd of NGL's, and 1.5 mmcf/d of natural gas). The 13-07 well was placed on production in Q4 2015 and had an IP90 of 379 boepd which significantly exceeded expectations relative to the test rate.

The Mica 8-22 well extends the oil window of the Lower Montney Turbidite play thereby placing a significant light oil resource on Leucrotta's lands as a result of new geological mapping of the oil pool. Leucrotta will look to place this well on-stream in the second half of 2016 to gather production data that will help in estimating recoveries and developing initial type curves for this resource.

Leucrotta is very pleased with the results and will continue in its strategy to further delineate and develop this potentially large resource in conjunction with Leucrotta's Liquids-rich Lower Montney Turbidite play noted below.

Liquids-rich Montney Gas:

Leucrotta had recently announced a delineation well at East Doe that tested at 1,290 boepd and a development well at Doe that had an IP30 of over 900 boepd demonstrating the high productivity of the area, particularly in relation to the drill and complete costs of less than $4 million.

Leucrotta has internally estimated that it has now delineated over 1 TCF of original gas in place to date as mapped over 29 gross sections of Leucrotta's total of 193 gross Montney sections in the greater area.

Leucrotta estimates it has de-risked over 160 gross locations in this liquids-rich gas play that have estimated per well recoveries of approximately 900 mboes (21% Liquids) and drilling costs and completion costs of less than $4 million per well. The estimated per well recoveries is based on nearby productive wells used as analogies.

The Company is currently working on pipeline routes to gather the gas and liquids from the East Doe area for processing at its 25 mmcf/d sweet gas plant at Doe, as well as planning infrastructure to integrate the Montney Light Oil Play at Mica. Additional delineation locations will be licensed at Doe to be drilled in conjunction with the expansion of the gathering system that is slated to be constructed in Q4 2016.


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This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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