Petrobank Energy and Resources Ltd. reports second quarter 2012 production at our Kerrobert THAI® project was 236 barrels of oil per day (bopd). This is an increase from first quarter 2012 production of 193 bopd. These production volumes represent actual sale volumes for each period reported.
Wet weather in June negatively impacted production by preventing movement of service rigs needed for workovers on several of our wells. However, during this period, we were able to maintain steady THAI® oil production. We expect that oil production will continue to rise as we maintain our balanced approach of building out the THAI® combustion front.