DENVER, Dec. 17, 2012 /PRNewswire/ -- Grid Petroleum Corp. (OTCBB: GRPR): The Board of Directors announce that Grid Petroleum has received a report of the initial flow testing of the Barnsdall formation from the joint venture operator Progas Inc and its owner/ operator Dan Polk.
"The well is temporarily shut in and is awaiting a frac of the Barnsdall formation the primary formation of the field."
From Progas Services Inc, the Joint Venture Operator for the Northwest Premont Area of Interest, a comprehensive Summary of the completion of the Garcia # 3 is posted in a PDF form on the company's website: www.gridpetroleum.com Under the breaking news area of the first page.
The company continues to be delayed by the Progas and Dan Polk regarding any progress reports or constructive information of the Garcia #3 and its completion.
The company will provide progress updates as they become available regarding the Garcia #3 and other anticipated drilling activity regarding the Northwest Premont Joint Venture.
The company also reports that the development of the additional acreage in the Northwest Premont Area that will be developed by Grid Petroleum's Operating Company, Grid Petroleum Production is continuing with significant progress.
The company anticipates that its first development well of the new prospect will be initiated in the first quarter of 2013.
Grid Petroleum Corp. is a development stage company focused on the acquisition and development of low cost high reward oil and gas prospects with infield drilling for proven potential reserves in the United States and Canada.
SOURCE Grid Petroleum Corp.
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