12:08:41 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



3MV Energy Corp
Symbol TMV
Shares Issued 54,984,495
Close 2014-12-05 C$ 0.125
Market Cap C$ 6,873,062
Recent Sedar Documents

3MV Energy completes six new wells at Fiske

2014-12-08 08:14 ET - News Release

Mr. Dallas Duce reports

3MV ENERGY ANNOUNCES RESULTS OF PHASE I FISKE DRILLING PROGRAM AND PROVIDES OPERATIONAL UPDATE

The phase I drilling program in 3MV Energy Corp.'s core area of Fiske, Sask., has been completed resulting in 100-per-cent success of six new producing oil wells. The Fiske prospect is an area defined by 3MV and is approximately 12 miles south west of Rosetown, Sask. 3MV continues to maintain a 50-per-cent working interest in excess of 50 contiguous sections.

Phase II Fiske drilling is currently under way with seven of the 10 planned wells drilled and in various stages of completion and equipping. The company anticipates exiting the year with approximately 800 barrels of oil per day (400 b/d net) from the Fiske property with 15 new oil wells (7.5 net) brought on stream during fourth quarter 2014. During the current period of lower commodity pricing, these wells will sustain profitability due to the reservoir being shallow with high oil content and negligible gas or water, low lifting costs and low royalties.

The phase III Fiske exploitive drilling program is scheduled for second quarter 2015 and will include 20 (10 net) additional oil wells. This program is in varying stages of planning, licensing, surveying and site preparation.

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