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Hillcrest Petroleum pleased with operations in Saskatchewan

The Flaxcombe field in Western Saskatchewan is a joint venture with partner Westcore Energy
Cumulative production from 16-13 was around 1,160 barrels to the end of February

Hillcrest Petroleum Ltd (CVE:HRH) said it was pleased with the results of operations at the Flaxcombe field in Western Saskatchewan, about which it has updated investors.

Production from the 16-13 well was restored in early January and cumulative production from the well was around 1,160 barrels to the end of February - in line with the firm's expectations.

A well work-over on the nearby 07-13 well, including production tubing replacement and installation of a new down-hole pump, was also undertaken. 

This well was turned over to production on February 19 and has averaged around 90 barrels of fluid per day (bfpd), with the reported oil cut slowly increasing to 20% from 5% through to the end of February.

The firm said that with the relatively high total fluid production from the well and the increasing oil cut as production stabilises, reported daily oil production averaged around 18 bopd (barrels of oil per day) during the last four days of February.

"The company does expect to see an increase in the oil cut from the 07-13 well during March," it added.

Hillcrest said it was  pleased with the results of the development and production operations to date, particularly in light of the cold temperatures and harsh operating conditions in the area during late December and into January and February.

The Flaxcombe field in Western Saskatchewan is a joint venture with partner Westcore Energy.

Hillcrest is providing financial and technical support to the workover program and will earn a 50% working interest in all production.

Hillcrest shares were unchanged at C$0.045.

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