Lux Energy Corp Receives Results from Pumping Test
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Mon, 09 Nov 2009 21:03:16 GMT |
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LUX Energy Corporation |
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LUXE: OTC-BB
CALGARY, Nov. 9 /PRNewswire-FirstCall/ - In a recent news release, Lux Energy Corp. announced the production results for the C well located in West Central Alberta. In addition, the Company stated that the operator had recommended that pumping equipment be installed to enhance recovery from the reservoir.
The pump equipment was installed and the 24 hour test period records the following;
Currently oil production is at 40 - 44 bbls per day. The well has shown a decline of less that 10% since installation to present. The operator advises that this is a normal result. Natural gas production continued throughout the test period at 175 mcf.
In summary, the pump recovery project including natural gas has had a significant result. The C well recovery has increased from 32 BPOE to 56 BPOE per day, an impressive 75% upside.
Shane Broesky, President, comments that the well performance certainly warrants further acquisitions in this area and Lux will pursue increased holdings.
The President also advises that the operator has informed Lux on the D well status. The D well is expected to be at total depth, completed and tied into production facilities by December 15, 2009. D will be completed in the same area as the C well.
A copy of the filed information can be found for viewing by electronic means by viewing the Company's filings on www.sec.gov.
Lux Energy Corporation
Lux Energy is an oil and gas production and exploration company focusing on developing oil and gas resources in North America.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Lux Energy's filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE LUX Energy Corporation
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