Global Leader in International Oil and Gas Industry News

posted in:

Zargon Oil & Gas Ltd. provides 2012 third quarter results

Thursday, Nov 08, 2012

Zargon Oil & Gas Ltd. ("Zargon" or the "Company") (TSX:ZAR) (TSX:ZAR.DB).

Field Activities

Field activities were limited to workovers and turnarounds for most of the third quarter. Starting in mid-September, Zargon began its fall drilling program at Bellshill Lake with the drilling of 2.0 net oil wells and 1.0 net water disposal well. For the year, Zargon has drilled 12.8 net oil wells and is planning on drilling an additional 15 net wells in the 2012 fourth quarter. This program will entail a Hamilton Lake water disposal well and oil exploitation horizontal locations at Bellshill Lake (three additional), Hamilton Lake (three), Taber South (three) and Williston Basin (five). Each of these locations target increased oil recoveries from existing oil pools. In aggregate, Zargon has identified more than 130 horizontal locations in six conventional (non-ASP) oil exploitation projects, which will provide a high-graded drilling inventory for many years. Each of these six oil exploitation projects are (or will be) pressure supported by water injections or natural reservoir aquifers and consequently provide long-life low-decline oil volumes that will support future dividends.

Source: Marketwire 

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Air Products to Feature Its Range of Industrial Gas Supply Options and Advanced Gas Technologies at PTXi 2014 24-04-2014
FAR Ltd provides an update on current drilling program in Senegal and future plans in Kenya 24-04-2014
Hess announces sale of Thailand oil and gas assets 24-04-2014
Energid's Actin Software Revolutionizes Oil and Gas Exploration 24-04-2014
Bakken Energy Corp Begins Negotiation to Buy Oil Refinery in Southern Utah Uinta Basin 24-04-2014
Ferus Natural Gas Fuels Acquires Encana's Share in Alberta LNG Plant 24-04-2014
Fincantieri Offshore chooses AVEVA software for a revolutionary project 24-04-2014
Gazprom and Austria discuss alternative Russian gas routes to Europe 24-04-2014
APPEA: Time to lift barriers on New South Wales natural gas development 24-04-2014
BP to sell interest in four Alaska North Slope oil and gas assets 24-04-2014