Nordic Oil and Gas Ltd. announces that the Company has discovered oil in two formations at Preeceville, Saskatchewan.
“The well reached the basement earlier today and we are currently drilling a further 15 metres of overhole to allow for production,” Mr. Benson stated. “In addition, the logging equipment will be arriving later today.”
On Saturday, while drilling was underway, the well was also logged after the Company discovered live oil on the shaker. “After loosing the first well due to intersecting a fault, we did not want to loose this well without logging the interval,” he added.
Further news will be released following the interpretation of the logs. “What is required now is the interpretation of the logs, followed by perforation of the two formations and production testing to determine formation pressures and flow rates,” Mr. Benson said. “After allowing the cement to cure for a few days, we will be ready to perforate early next week.
“An oil discovery is what we were looking for, and now the all important thing to determine is the production capability of the well,” he added.
Review all our latest Discovery news and companies