Primary Petroleum Corporation is continuing geological and geophysical work in its efforts to attract a new JV Partner to continue its Phase II program targeting exploitation of the multi-zone potential of its Pondera-Teton prospect.

Current 3D-seismic interpretation suggests that the Phase I Madison discovery on the Spring Hill prospect is approximately one to two sections in ariel extent, and could contain oil reserves that initial internal estimates range from 250,000 barrels and up to 1,000,000 barrels (subject to independent engineering review).

An up-hole completion of the Sun River (Madison) formation in the Spring Hill 14-34 well is being planned for Q3 this year. Based on the results from this completion, there is potential for additional horizontal wells to fully develop the Spring Hill field. Several additional Madison leads have been identified on the Primary JV lands and these potential locations will be assessed with additional 3D seismic and drilling.

Tags: Primary Petroleum