Alberta Star Development, a Canadian resource exploration and development company, has completed one of the five standing cased wells that had been previously drilled but not completed by a former operator in late 2009.
The company acquired a 33.33% net interest in these five standing cased heavy oil wells interest from its working interest partner and new operator, Western Plains Petroleum, in late August 2010.
The newly completed well, located on 10-06-50-1 W4M in Lloydminster, Alberta, is currently producing approximately 40bbls/day of heavy oil from the Sparky oil formation.
The company is on schedule and expects to complete three of the remaining four standing cased wells by the end of September/early October, with the production rates from each well expected to be approximately 40bbls/day for a total estimated production of approximately 160bbls/day.
In respect to the company’s previously announced in-fill drilling program from section 6-50-25-W3M in Landrose, Saskatchewan, Alberta Star has submitted and is expecting to receive its formal drilling license approval on the C-14-06-50-25 W3M and the C11-06-50-25 W3M locations early next week.
The company expects these four in-fill wells to be drilled and completed by the end of October 2010.