Tuscany Energy Ltd. is pleased to report that the Company's average sales volumes for the second quarter of 2014 were approximately 750 boepd.
Having closed its recent US$ 3 million financing, the Company has commenced drilling operations on a heavy oil drilling programme consisting of five wells in west-central Saskatchewan. Tuscany is the operator of all of these wells.
Drilling has commenced on the first of these wells, 91/13-34-40-25W3, targeting a Dina oil prospect at Rutland, Saskatchewan. Tuscany will pay 50% of the drilling costs while retaining a 75% working interest in the well and lands covering this new prospect.
Following the Rutland well, Tuscany plans to drill two (1.2 net) horizontal development wells on its Evesham, Saskatchewan oil property. The wells will be drilled as 50 m offsets from the most productive wells drilled on the property to date. Each of these wells has produced over 30 000 bbls of oil since being placed on production in September 2013 and are currently producing at an average rate of approximately 100 bpd per well.
Lastly, Tuscany plans to drill two (2.0 net) horizontal development wells on its oil property at Macklin, Saskatchewan. The wells will offset the Macklin 97/7-28-39-28W3 well which was placed on production in March 2014, has produced over 15 000 bbls of oil to date, and is currently producing at a rate of approximately 95 bpd.
Tuscany plans to continue its development programme in its core areas of Evesham and Macklin during the balance of the year and plans to commence drilling on its portfolio of new prospects prior to year end.
Adapted from a press release by David Bizley