If successful, the two wells, 12-6 and 12-7, will join the existing four producing oil wells in the oil field.
These four existing wells had initial production rates of about 102b/d, 98b/d, 55b/d and 201b/d, and have been in production for various lengths of time of between about one year – three years.
According to Lexaria, the 12-6 and 12-7 wells are both classified as proven undeveloped wells.
Lexaria president Chris Bunka said if the two new wells perform as expected, they have the potential to significantly enhance Lexaria’s cash flows and field development.
