The most recent development well drilled for its natural gas potential encountered a oil reservoir. This oil zone is flowing at 40 barrels of high gravity crude per day including the gas cap, which is producing at 320 mcf.
Shane Broesky, president of Lux Energy, has said that this was an unexpected result whereby this well is capable of producing at these rates and that the structure has not been stimulated. This oil zone may extend to adjacent drilling targets. Well logs and further testing will give the company an abundance of geological information to exploit this discovery.
Shane Broesky, president of Lux Energy, said: “Lux Energy will pursue participation to our maximum capacities. Indications are that a 10 well programme is now contemplated. Lux is also in pursuit of a oil and gas project in Northern BC. Financing arrangements for this endeavor are in process.”
