Shares of the company advanced C$0.01 to C$0.16 in Monday’s Canadian trading.
READ: Pulse Oil gushes higher as it lifts output and works towards spudding first well since going public
The oil explorer said in a statement that it will drill back to back from an existing well site, which will become its central enhanced oil recovery (EOR) facility. The drilling of each well is expected to take about 18 days.
If the Bigoray wells are successful as anticipated, Pulse said infrastructure is expected to be completed to allow new production to flow by late April or early May.
Earlier this year, independent modeling at the asset lifted the initial amount of estimated discovered petroleum initially in place (DPIIP) by almost 44%, according to the company.
Contact Dennis Fitzgerald at [email protected]