Last week, the company initiated Phase-2 of its plan which involves treating the working wells with specialized chemicals designed to restore the underground formations around the well to their initial state.
Three wells have been selected to begin Phase-2 rehabilitation and are currently being treated.
Once the treatment is completed on the wells, the company will have solid oil production data, which is necessary for financial projections as well as additional well performance information needed to fine tune the chemical composition of the cleaning agents.
Force Fuels CEO Oscar Luppi said that Phase-1 involved determining the state of the company’s existing wells and placing them back into service to verify its production assumptions as well as geological data, and Phase-2 is all about ramping up daily production.
"Initial tests conducted last quarter confirmed the viability of the existing oil wells and confirmed the potential untapped oil reserves which could be developed on the properties," Luppi said.
