The new oil well has been tested over a two-day period using swabbing equipment and in the last 7.48 hours of testing, the well produced, 209 barrels of oil and 8.09 thousand cubic feet of gas yielding a rate of 670.4 barrels of oil per day and 26.0 thousand cubic feet of gas per day, extrapolated over a 24 hour period.
Subject to regulatory approval, the operator expects to have the new well equipped and on stream prior to the end of the year.
The new well is expected to produce under pumping conditions at an initial rate of 200 barrels per day of oil and 7.75 thousand cubic feet of gas per day. Alston owns a 15% working interest in the well.
Alston has identified five to six follow-up locations on its land targeting this same high quality development oil pool. Alston’s participating interests is 15% in the offset locations.
