Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company") (TSX, OSE: QEC) and Transeuro Energy Corp. (“Transeuro”) (TSX-V:TSU) are pleased to announce the initial test results from the A-7 well at the Beaver River Field.
Two separate 100-ton slick water fracture stimulations were completed on two prospective intervals on the A-7 well. The lower of these intervals was successfully stimulated and the interval flowed combustible gas on initial flow back. This interval was subsequently isolated and the upper interval stimulated. On a 21-hour test, production from the upper interval cleaned up to 1.9 mmcf/d (317 barrels of oil equivalent) on a 45.5 mm (1¾ inch) choke with a final flowing tubing pressure of 4000 kPa (580 psi).
Subsequently, operations commenced to put both intervals on test concurrently. During these operations it was determined that there is a casing obstruction in the lower interval. The obstruction created a partial restriction slowing recovery of the stimulation fluid from this lower interval. Nevertheless, both zones are currently being flowed together to clean up the well and determine the combined flow rate.
Based on the initial test results, Questerre and Transeuro are developing plans to tie-in the well to the existing gathering system. Subject to weather conditions and the final test results, it is anticipated that the A-7 well would be placed on-stream in the second quarter.
The A-7 well is located 1.3 kilometres north of the A-2 well that initially tested at 1.64 mmcf/d (273 barrels of oil equivalent) and is currently producing at approximately 4 mmcf/d (667 barrels of oil equivalent).
The partners also updated the status of the B-3 well. The well is targeting the Mattson/Besa River horizon and is located approximately 5 kilometres south of the A-2 well. Drilling is proceeding according to schedule at a depth of just over 1,400m. Questerre and Transeuro each hold a 50% interest in the B-3 well. A joint venture operating committee is managing the operations with Questerre appointed as named operator.
Questerre Energy Corporation is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada.
For further information, please contact:
Michael R. Binnion, President
Tel: (403) 777-1185
Fax: (403) 777-1578
Email: info@questerre.com
Web: www.questerre.com