Manitok's daily corporate production is currently fluctuating between 3,400 and 3,500 barrels of oil equivalent per day with approximately 1,850 to 1,900 barrels per day of light oil and condensate which is about 54 per cent of total production
The third, fourth and fifth wells of the 2012 program were drilled to test the extension of the Cordel trend. Given the historic results achieved along the Stolberg trend to date, Manitok plans to focus its capital on drilling wells along the Stolberg trend for the remainder of 2012 and 2013.
Manitok is currently drilling the horizontal leg of the ninth well of the 2012 capital program and will provide the test results as soon as available. The well is being drilled along the Stolberg trend like the first, second, sixth, seventh and eighth wells of the 2012 program
Manitok is on track to meet, and possibly exceed, its year-end exit production guidance of 3,830 boe/d (57 to 60 per cent oil and condensate) as anticipated production from the ninth well and possibly increased volumes from facilities optimization at Stolberg are expected to provide additional production before the end of 2012. The remaining wells to be drilled in the 2012 program are likely to be on production some time in the first quarter of 2013.