The directors and management of Strata-X Energy Ltd. announce that, following the successful stimulation of the Burkett 5-34HOR horizontal well (Well) on the Vail Oil Project, the Well flowed back approximately 116 barrels (bbl) of light-gravity oil along with 2,100 bbls of completion fluid and formation water over a 30-hour time period on a 20/64 choke. At the end of the 30 hour period the well ceased to flow on its own, a standard flowback occurrence. The Well has subsequently been shut in, pending the arrival of a workover rig to conduct a swab test.
The flowback duration was assisted by the energized nitrogen that was injected during the completion stimulation. Approximately 2,000 bbls of completion fluid remains to be recovered during the swabbing operations. The volumes reported herein are measured quantities taken by gauging the flowback tanks and are estimates.