TORONTO, March 23 /CNW/ - Pacific Stratus Energy Ltd. (TSX: PSE)
announced today that Halliburton Latin America S.A. has issued the final
report of the drill steam test executed at the La Creciente-1 (LC-1) discovery
well, increasing initial all open flow (AOF) estimates from 71.8 to
208.1 million cubic feet of gas per day. The test was conducted between the
10,933 and 11,572 foot interval within the Ciénaga de Oro Formation. Actual
production may differ from initial test results.
The previous AOF estimates announced November 14, 2006 were based on
pressure data measured at the surface of the well head. Halliburton has now
processed the data collected during testing and has calculated an updated AOF
value using pressure data collected at reservoir depth during the final
stabilized flow period of the test.
The Company is planning to spud the La Creciente-2 appraisal well during
the first week of April 2007.
Pacific Stratus Energy is a Canadian-based oil and gas company that
initiated operations in 2004. The company is focused on identifying attractive
opportunities primarily within the upstream Sub Andean basins. Pacific Stratus
has a current net production of 2,200 barrels of oil per day, with working
interests in the Caguan, Dindal, Rio Seco, Puli B, Doima (currently under
dispute), La Creciente, Moriche and Guama blocks in Colombia. The company has
offices in Toronto, Caracas and Bogota. Further information is available on
our website at www.pacificstratus.com
This press release may contain forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward looking statements
are detailed from time to time in the company's periodic reports filed with
the British Columbia Securities Commission and other regulatory authorities.
The company has no intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For further information:
For further information: Robert Doyle, Executive Vice President & CFO,
(416) 362-7735, email@example.com