Junex Inc. has completed its most recent phase of oil production testing in its Galt No. 4 Horizontal well. This latest phase started on February 26th and ended on March 11th. The Company deliberately set the production rate during this latest phase according to its plan such that an average rate of 206 barrels of oil per day was maintained during the final ten days of this period.
Since the Galt No. 4 Horizontal well finished drilling, Junex has recovered a total volume of 7,200 barrels of light, sweet crude oil from combined production testing operations and well cleanup/swabbing operations.
According to our plan announced on February 2nd, the well is now shut-in such that the pressure build-up of the Forillon reservoir will be measured over the period of spring break-up. After this, the pressure gauges will be retrieved then the recorded data will be analyzed and interpreted by Junex's engineers and independent industry specialists. This pressure build-up data will provide invaluable information as to the reservoir characteristics of the Forillon reservoir in the Galt No. 4 Horizontal Well.