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Anglo Canadian Oil expects Dodsland Well to produce oil soon



Anglo Canadian Oil (CVE:ACG) announced Tuesday its recently completed Dodsland well in its Bakken oil play is ready to go into production after it is equipped with a single well battery.

The Calgary, Alberta-based petroleum and natural gas explorer also said its Buffalo Coulee well has received a jet pump, which it expects will fix the sand-related production issues it had experienced earlier.

The company holds Bakken rights in 17,640 non-contiguous acres in the Dodsland/Buffalo Coulee area of Saskatchewan, at a working interest of 100%. 

These land holdings are near the towns of Kerrobert and Kindersley. Middle Bakken production exists in and around Anglo Canadian's assets, and consists primarily of vertical wells, with a small number of horizontal wells. 

Oil ranges in gravity between 11.9 degrees API at Hoosier, to 15.4 degrees API at Plover Lake, each in the eastern region of the Bakken play.

Best resource estimates for the company's Dodsland and Buffalo Coulee wells on its Bakken oil play include 81.2 million stock tank barrels (STB) of discovered petroleum initially-in-place, with 80.9 million STB of discovered remaining petroleum initially-in-place.

Contigent remaining oil resources were estimated at 6.8 million STB.

Still, the company's primary focus is its Nordegg play, where surface locations in the Ante Creek area of West Central Alberta have recently been surveyed. The areas demonstrate total organic content measuring over 10%, Anglo Canadian said.

Two wells being planned will test for both Nordegg and Montney oil, with drilling to commence in the summer months.

A previously completed well, Twnshp 67-24 W5, saw Nordegg oil flow at a production rate of 30 barrels of oil per day, affirming the "flow-ability" of Nordegg oil, as it relates to commercial volumes of production, the company said.

Historical cumulative production in the greater Ante Creek area and within Anglo's focus area includes approximately 700,000 barrels of oil from three wells. 

Best resource estimates include 1.5 billion barrels of discovered petroleum initially-in-place in the Ante Creek North area, while total Nordegg properties are estimated to have over 6.4 billion barrels of discovered petroleum initially-in-place.

Anglo holds a 100% working interest in 269 sections, or 172,000 acres, of potential oil bearing Nordegg Member lands.

The company's stock on the TSX Venture Exchange rose 3.13% to trade at $0.165 per share as of 12:18 pm EDT today.


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