Donnycreek Provides Operations and Activity Update

13 Dec 2012 08:00 ET

Marketwire Canada - NFD

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS

Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) announces that it has preliminary results from the Company's Kakwa horizontal Montney discovery well 13 - 17 - 63 - 5 W6M (the "13 - 17 Well") that was placed on production December 1, 2012. Various facility bottlenecks associated with downstream liquids processing have restricted the flowing capacity of the 13 - 17 Well, however, during the first seven days of production, the well has averaged over 200 barrels of well head condensate/mmscf natural gas. The 13 - 17 Well has flowed a production day average of 750 bbl/d of condensate and 3.7 mmscf/d of natural gas (1,367 boe/d gross; 444 boe/d net). Additional natural gas liquids recoveries at the third party gas plant are expected to add between 30 and 130 bbl/mmcf depending on whether the natural gas is processed through the deep cut plant. Well head flowing pressures of over 20 MPa (2,900 psi) have averaged about three times line pressure as the operator has worked with downstream plant operators to manage the substantial condensate volumes. Donnycreek has a 25% working interest plus 10% GORR on 75% working interest before payout; 50% working interest after payout in the 13 - 17 Well.

Donnycreek also advises that the tie in of the second horizontal Kakwa Montney well 14 - 30 - 63 - 5 W6M (the "14 - 30 Well") is on schedule and is projected to be ready to flow in early January 2013, subject to processing capacity. Donnycreek holds a 50% working interest in the 14 - 30 Well.

Donnycreek is scheduled to spud the third horizontal Kakwa Montney well 03 - 19 - 63 - 5 W6M (the "3 - 19 Well") within the next four days from the same well pad location as the 14 - 30 Well. The 3 - 19 Well is a development well, which will be drilled between the 13 - 17 Well and the 14 - 30 Well. The 3 - 19 Well is scheduled to be finished drilling by mid-late February 2013, with a planned hiatus during the Christmas holidays. Donnycreek holds a 50% working interest in the 3 - 19 Well.

 

Full article at Reuters.

 

PS.  Decent jr proving out its oil/gas lands well so far.

 

Cheers,

Dave.