Oilexco earned a 60% equity interest by paying 100% of the drilling costs for a 3 leg appraisal well adjacent to the original discovery well. The Ptarmigan oil accumulation is located 15 kms southwest of Oilexco’s Brenda manifold.  Due to a large gas content, we are looking at a variety of options for developing the Ptarmigan Field.

Ptarmigan (Block 15/29a) is an undeveloped discovery made in 1994 by a previous operator, which flow tested 1,889 bbls/d of 43º API oil and 1.4 MMcf/d of gas through a 28/64" choke at 1,112 psi flowing pressure from 20 feet of perforations in a 54 foot thick oil-bearing sand.