Junex Inc. says that a steady production rate of 316 barrels of oil per day ('BOPD') was recorded over the most recent five days of its latest phase of production testing in its Galt No. 4 Horizontal well. This phase started on February 9, 2014, with the maximum oil production rate over a 24-hour period since this date attaining 396 BOPD.
'Respecting our plan published in our February 2nd press release, we proceeded with our oil production testing program and removed the restriction in our surface pumping equipment. Once again, our milestone oilwell responded beyond our expectations and attained a steady rate of 316 BOPD, which is substantially greater than the 161 BOPD rate published in our January 27th press release. Furthermore, the well's pressure regime demonstrates the large extent of this oil accumulation.' stated Mr. Peter Dorrins, Junex's President & Chief Executive Officer.