Decklar Resources Inc. Announces Completion Operations for the Oza-1 Well
21 October 2021 - 5:30PM
Decklar Resources Inc. (TSX-V: DKL)
(OTCQX: DKLRF) (FSE: A1U1 (
the “Company” or
“Decklar”) announces the commencement of completion
operations for the Oza-1 well re-entry.
As previously announced, the Oza-1 well re-entry
has been successfully flow-tested in the three target zones (L2.2,
L2.4, and L2.6). The final well completion design and procurement
has been concluded, with all completion equipment now having
arrived on location at the Oza-1 well. Completion operations on the
well have commenced, which include running 2 7/8” tubing,
production packers, sliding sleeves and gas lift equipment, with
all activities anticipated to conclude within 7 to 10 days. The
well will be initially configured for production from the L2.6
zone, which tested at rates up to 2,463 bopd as previously
announced.
All early production facilities have been
installed and function tested including a 5,000 bopd three phase
separator, crude oil storage tanks and export pumps.
Duncan Blount, CEO of Decklar Resources,
remarked “We look forward to completing the Oza-1 well and bringing
the Oza Field into full time commercial production for the first
time since its discovery in the 1970s. This is an exciting
milestone for us at Decklar as we transition to being an oil
producing company. With oil prices at a seven year high, this is a
very exciting time for the commencement of production for the
company. From here, we will continue with full field development at
Oza, and also look forward to pursuing similar re-entry strategies
at our Asaramatoru and Emohua Fields.”
For further information:
Duncan T. BlountChief Executive Officer Telephone:
+1 305 890 6516Email: dblount@decklarresources.com
David HalpinChief Financial Officer
Telephone: +1 403 816
3029Email:davidhalpin@decklarpetroleum.com
Investor Relations: info@decklarresources.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Language
Certain statements made and information
contained herein constitute "forward-looking information" (within
the meaning of applicable Canadian securities legislation),
including entering into definitive agreements in respect of the
Transaction and satisfaction of conditions precedent to completion
of the Transaction. All statements in this news release, other than
statements of historical facts, are forward-looking statements.
Such statements and information (together, "forward looking
statements") relate to future events or the Company's future
performance, business prospects or opportunities. There is no
certainty that definitive agreements in respect of the Transaction
will be entered into, or that any conditions precedent contained
therein will be satisfied on terms satisfactory to the parties or
at all.
All statements other than statements of
historical fact may be forward-looking statements. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "seek", "anticipate", "plan", "continue",
"estimate", "expect, "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions) are not statements of historical
fact and may be "forward-looking statements". Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. The Company believes that the expectations reflected in
those forward-looking statements are reasonable, but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required by
applicable laws. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in oil
prices, results of exploration and development activities,
uninsured risks, regulatory changes, defects in title, availability
of materials and equipment, timeliness of government or other
regulatory approvals, actual performance of facilities,
availability of financing on reasonable terms, availability of
third party service providers, equipment and processes relative to
specifications and expectations and unanticipated environmental
impacts on operations. Actual results may differ materially from
those expressed or implied by such forward-looking statements.
The Company provides no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
does not assume the obligation to revise or update these
forward-looking statements after the date of this document or to
revise them to reflect the occurrence of future unanticipated
events, except as may be required under applicable securities
laws.
Decklar Resources (TSXV:DKL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Decklar Resources (TSXV:DKL)
Historical Stock Chart
From Jul 2023 to Jul 2024