Citadel Exploration’s first well at Project Indian, the Indian #1-15, has been producing approximately six barrels of oil per day, over the past seven days.
This is the first oil ever produced on this structure after over 100 years of exploration efforts in the area by Standard Oil and Chevron Corp.
The Indian #1-15 well data supports Citadel's predrilling geologic model. Citadel believes its 688 acre lease contains an unrisked resource potential of 100 million barrels of original oil in place (OOIP). Historically, thermal recovery methods in California have proven to recover 20-60% of the OOIP.