Big Sky Petroleum Corporation: Update on Drilling at the Glacier Bakken Project in the Southern Alberta Basin, Montana
03 December 2011 - 1:00AM
Marketwired
Big Sky Petroleum Corporation (TSX VENTURE:BSP) -
-- Well 14-29 - horizontally drilled and cased awaiting fracture
stimulation
-- Well 15-13 - drilled and cased vertically awaiting a horizontal
completion
-- Well 81-3 - drilled vertically and stimulated confirming presence of oil
Big Sky Petroleum Corporation (formerly Fox Resources Ltd.) is
pleased to provide an update on the Company's Glacier Project in NW
Montana, USA.
The Company and its two partners, FX Energy (FXEN) and American
Eagle Energy (AMZG), have completed drilling and casing a
horizontal sidetrack from the group's previously drilled vertical
test, of well 14-29, in Toole County, Montana. Good oil and gas
shows were noted throughout the drilling of the horizontal section.
The approximate 4,100 feet lateral section targeted the Bakken
Formation and was cased with a 4.0" liner equipped with 26
stimulation sleeves. A multi-stage fracture stimulation is
currently slated for December.
The group has also completed the drilling of the vertical
section of the Big Sky Operating 15-13 in Toole County. The 15-13
was cored and logged in three prospective sections of the Bakken
Source System with noted visual oil shows in all three sections.
The 15-13 has been cased awaiting further drilling and completion
operations that will be conducted based on evaluation results and
would likely include targeting the most prospective of the multiple
pay zones with a horizontal sidetrack in Q1 2012.
Big Sky is working with it partners to determine the next
drilling location to advance the Bakken project in the Southwest
Cut Bank Sand Unit. The SWCBSU 81-3 in Glacier County was a
vertical deepening of an existing well designed to cost effectively
evaluate the various prospective zones within the Bakken Source
System. The SWCBSU 81-3 strat test well confirmed the presence of
oil in the target zones following a small stimulation of multiple
zones in the well. Further drilling plans currently being evaluated
will likely include a vertical pilot well with a horizontal lateral
in the vicinity of the 81-3 and targeting one of the multiple
oil-bearing zones in early Q1 2012.
Milton Cox, the Company's Chief Executive Officer commented,
"Big Sky's management and technical team are greatly encouraged by
the results we have seen. Confirming oil in the Cut Bank field area
on the west flank of the Kevin Dome, documenting strong oil shows
in the horizontal leg of the 14-29 and the very promising results
from the 15-13 wells located on the central portion of the dome
further confirms the potential of the Bakken/Three Forks on Big
Sky's leasehold. We look forward to significantly advancing the
project evaluation on both our Dome and Basin acreage adjacent to
the Newfield and Rosetta indicated discoveries. We remain on target
to position Big Sky as a major participant in this exciting and
rapidly evolving play."
About Big Sky
Big Sky is an oil and gas exploration and development company
based in Billings, Montana, with its main focus primarily on the
exploration and development of oil and gas in the Alberta Basin,
commonly referred to as the Bakken source system. Big Sky has
amassed a vast geological library identifying Bakken source system
members. Accordingly, all leases acquired by Big Sky have been
selected based on the analysis of geological data accumulated over
the past several years. Big Sky's success in acquiring its
leasehold interests has resulted in Big Sky becoming a significant
player in the Montana Alberta Basin's emerging Bakken play. Other
oil and gas companies active in Montana include Quick Silver
Resources, Rosetta Resources, Newfield Exploration and Crescent
Point Energy. To date, Big Sky owns a 33.333% working interest in
approximately 100,000 net acres in Toole and Glacier counties,
Montana.
The Company currently has 60,676,665 common shares issued and
outstanding.
On behalf of the Board,
Milton Cox, Chief Executive Officer & Director
This press release contains "forward-looking information". Such
forward-looking statements reflect our current views with respect
to future events and are subject to certain risks, uncertainties
and assumptions, including, the risks and uncertainties outlined in
our most recent financial statements and reports and registration
statement filed with the Canadian securities administrators
(available at www.sedar.com). Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those
anticipated, believed, estimated or expected.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Big Sky Petroleum Corporation Milton Cox Chief
Executive Officer & Director 604-687-3520 604-688-3392
(FAX)
Big Sky Petroleum Corporation (TSXV:BSP)
Historical Stock Chart
From May 2024 to Jun 2024
Big Sky Petroleum Corporation (TSXV:BSP)
Historical Stock Chart
From Jun 2023 to Jun 2024