10:45:46 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Invicta Energy Corp
Symbol VCA
Shares Issued 75,609,049
Close 2012-08-01 C$ 0.15
Market Cap C$ 11,341,357
Recent Sedar Documents

Invicta completes six-well drill program at Kindersley

2012-08-02 07:32 ET - News Release

Mr. Gordon Reese reports

INVICTA ENERGY ANNOUNCES COMPLETION OF 6 WELL DRILLING PROGRAM AT KINDERSLEY

Invicta Energy Corp. has completed its second quarter, six-horizontal-light-oil-well (3.3 net) drilling program at Kindersley, Sask. Due to wet weather conditions in the fourth quarter of these wells are still in initial flowback, but at favourable rates. The first two wells of the program have been producing for two months at an average rate of 45 and 75 barrels per day, respectively. Based on the initial production rates of the six wells, Invicta expects these wells to outperform the company's forecasted type curve. Current net field production is estimated to be over 400 barrels of oil equivalent per day (85 per cent light oil). As these wells stabilize they will be tied into the company's production facilities.

In addition, Invicta has added over 10 sections of 100-per-cent land through Crown land sales and acquisitions, and now has 53,232 net acres of land in Alberta and Saskatchewan. From this developing land base, Invicta has the potential to develop a second core resource base to complement its current development on lands in Kindersley, Sask.

Invicta is finalizing its second quarter financial results. The company will press release the second quarter in the third week of August in conjunction with updated guidance and drilling plans for the remainder of the year.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.