Petro-Reef Resources Ltd. reports the successful completion of its 11-12-56-27W4 Detrital sand oilwell, which was drilled in March of this year. The Company is operator of and has a 94 percent working interest in the well. As mentioned in an earlier press release, the well is an approximate half-mile step-out to our Detrital oilpool (26 degree API) that was discovered in 2009. The well is Petro-Reef's fifth oilwell in the pool.

The 11-12 well encountered 7 meters of net pay, split into an upper and lower sand. Only the lower sand was completed at this time, with swabbing for 10 hours recovering 24 cubic meters (150 barrels) of clean oil with negligible water (less than one percent). We expect the well to initially produce at its allowable of 20 cubic meters (125 barrels) per day. Petro-Reef is proceeding to tie the well into our gathering system, and, weather permitting, production should commence by the end of the second quarte

Tags: Petro-Reef Resources