Questus will pay all costs associated with the project and will start fluid level and integrity tests on 33 wells located in the field as required by the Texas Railroad Commission.
On completion of tests, Questus will restart pumping oil on five wells which are already fully equipped within 45 days.
Pumping will restart on the ten additional wells once they are re-equipped by Questus.
The company expects production to reach approximately 90 barrels per day once all 15 wells are reconditioned.
Questus will receive additional groups of ten wells up to a total of 104 wells, wherein pumping can resume by November 2012.
The company has also signed farmout agreements with two other entities for a total of up to 40 additional wells.
