CALGARY, July 24, 2013 /CNW/ - Raise Production Inc. (TSX-V: RPC)
("Raise" or the "Company") is pleased to provide this update to its
shareholders regarding the testing of its first unique horizontal
wellbore production system (the "System").
The Company is scheduled to deploy its first System in a horizontal well
producing from the Viking formation in Kindersley, Saskatchewan area
during the week of August 12, 2013.
This is the first deployment of a proto-type System and is designed to
test, among other things, installation, functionality and certain
performance criteria relating to horizontal flow over a 60 day test
interval. Upon completion of the test period, Raise anticipates this
first System will remain deployed in the existing well, and it will
advance to a second stage of testing in a new well with the same
industry partner. This second deployment will incorporate information
developed from the first test program and will be configured to operate
as a commercial system.
Eric Laing, President and Chief Executive Officer of the Company, stated
"this is a major milestone for us. It represents the culmination of a
tremendous effort by our employees to bring to market the first ever
optimization technology specifically designed to allow for multiple
points of drawdown in a horizontal well. I am very proud of the
ingenuity, perseverance and teamwork of all involved in the project."
Commenting on the test protocols, Mr. Laing said "this first deployment
is an extension of the testing work we have done in our facilities.
This system does not represent a finished product. Rather, it is one
more step toward a commercial System which we anticipate having ready
by the end of this year."
Raise anticipates providing an update regarding System deployment and
initial functionality at its Annual General Meeting to be held on
August 27, 2013 at its offices located at 2620, 58th Ave SE, Calgary, AB, but will not comment on System performance prior
to the conclusion of the 60 day test period and analysis of those
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its
efforts on the production service sector, utilizing its patented
products to enhance and increase ultimate production in both
conventional and unconventional horizontal oil and gas wells.
This news release contains certain forward-looking statements. All
statements, other than statements of historical fact, are forward
looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from these
anticipated in such statements.
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 news
SOURCE: Raise Production Inc.
For further information:
Eric Laing, President and Chief Executive Officer
Susan Scullion, Chief Financial Officer
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Web site at: www.raiseproduction.com