Magnum Energy Inc. (TSX VENTURE:MEN) is pleased to announce flow test results from its most recently completed horizontal well in the Provost Viking light oil property in eastern Alberta.
The well, in which Magnum has a 50% working interest, was operated by the Corporation and drilled with a 665 meter horizontal leg and completed with an eleven stage fracture stimulation. The well test flowed at 230 barrels of oil per day over 5.4 days. The testing was performed under a restricted basis using a 7.94 mm choke and flowing tubing pressures of between 2000 to 3000 kPa.
The well is currently shut in for two days to perform standard pressure build up tests required by the Energy Resources Conservation Board. Upon completion of the testing, the well will be equipped and placed on production.
The Corporation is in the process of licensing a fourth horizontal location in the same section which will take approximately four weeks. Magnum anticipates drilling operations to commence as soon as possible upon licensing.
The Corporation has identified seven offset drilling locations in this section and plans to continue to focus on the Viking oil lands where no reserves have been assigned to date.