Bird River Resources Announces Update on Drilling Program
Calgary, Alberta (FSCwire) - Bird River Resources Inc. (CSE: BDR) is pleased to announce that its wholly owned subsidiary High Point Oil Inc. (“High Point”) has had significant success in its 2018 drilling program to date.
High Point has drilled three oil wells which are: well 11-36, well 5-23 and well 4-5. The three wells are located in the Huxley area of central Alberta. All wells have been drilled into the Nisku formation and were a Joint Venture (previously announced) with DEL Canada Partnership. A fourth well in the program is currently being licensed with the Alberta Department of Energy.
The 11-36 well swabbed 125 barrels of clean light oil in 8 hours with a stabilized wellbore fluid level. The well has been equipped and is expected to begin production on August 1, 2018 with initial production rates being controlled at 200 to 250 barrels of oil per day.
The 5-23 well has been drilled and cased with completion activities expected to commence the first week of August.
The 4-5 well has been completed but experienced formation damage and low reservoir pressures indicating the likely need to implement pressure maintenance in order to produce oil. As a result, equipping and producing this well has been delayed until the other two wells have been completed.
Ty Pfeifer, President of High Point commented, “We are very pleased with our drilling progress to date. Results have validated our 3D seismic modeling and we have learned and applied the valuable information gained from our ongoing drilling program”.
About Bird River Resources Inc.
Established in 1958, Bird River Resources Inc. is a Canadian natural resources company focused on three verticals within the energy sector – Oil & Gas, Cogeneration and Technology. The Oil & Gas vertical was recently expanded through the acquisition of High Point Oil Inc. and focuses on the acquisition, exploration and development of petroleum and natural gas in the Western Canadian Basin. The cogeneration vertical is a joint venture with Divestco focused on the conversion of natural gas to electricity at exceptionally low rates. The Technology vertical focuses on the application of technologies such as blockchain to identified opportunities within the energy and technology sectors, including the establishment of a leading, ultra-low-cost cryptocurrency mining centre through a partnership with Divestco.
Additional information on the Company is available on its websites at birdriverresources.com and highpointoil.net and on SEDAR at sedar.com.
For further information, contact:
Jon Bridgman Mr. Ty Pfeifer
CEO, Bird River Resources Inc. CEO, High Point Oil Inc.
Tel: 204-589-2848 Tel: 403-614-9907
This news release is for information purposes only and no statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities and may contain forward looking statements that are based upon current expectations or beliefs as well as a number of assumptions about future events and words such as may, should, could, will, expect, anticipate, estimate, believe, intend, project should not be taken out of context.
NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Source: Bird River Resources Inc. (CSE:BDR)
To follow Bird River Resources Inc. on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. https://www.fscwire.com
Copyright © 2018 FSCwire