SASKATOON, SASKATCHEWAN - (CNW – March 27, 2017) Westcore Energy Ltd. (“Westcore” or the “Company”) (TSXV: WTR) announces that it has commenced production at a fifth location at Flaxcombe. The 10-13 location is a well that was drilled by a previous property owner, but only produced for a short period of time before being shut-in by that operator.
Westcore commenced production at this location in late February after completing a pump change, well cleanout and adding full surface and production equipment to the site. Initial production from the well has exceeded expectations. The current field estimate of production from this well is approximately 40 barrels of oil per day, with sufficient associated natural gas to power both the well and tank burners at this location.
This result further confirms the Company’s development thesis for the Flaxcombe field in advance of the three vertical well drilling program that is scheduled to commence post break-up, along with partner Eros Resources Corp.
We seek Safe Harbor
FOR FURTHER INFORMATION PLEASE CONTACT:
Westcore Energy Ltd.
Vice President and Chief Operating Officer
Phone: (306) 653-2692
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, the 3 well drilling program that is referenced herein, shut-in production potentially being re-initiated and the earning of interests by Eros in Westcore’s Flaxcombe field. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
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