20:30:34 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



New Stratus Energy Inc
Symbol NSE
Shares Issued 124,696,778
Close 2024-04-30 C$ 0.64
Market Cap C$ 79,805,938
Recent Sedar Documents

New Stratus loses $11.35-million in 2023

2024-04-30 14:04 ET - News Release

Mr. Jose Francisco Arata reports

NEW STRATUS ENERGY ANNOUNCES RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023 & OPERATIONS UPDATE FROM GOLDPILLAR

New Stratus Energy Inc.'s consolidated financial and operating results for the year ended Dec. 31, 2023, have been filed on SEDAR+.

GoldPillar International Fund SPC Ltd. update

New Stratus is providing an update from GoldPillar on activities in the Lido-Limon and Oficina fields, assigned to the joint venture Petrolera Vencupet S.A. (Vencupet), of which GoldPillar is a shareholder with a 40-per-cent stake (giving New Stratus a 20-per-cent interest). Reactivations have now been carried out on the OS-95 (natural flow well), OG-271, LZ-621 (waiting for a services unit to recover production) and NG-522 wells, with the first two wells being located in the Oficina central field and the additional wells being located in the Lido-Limon fields. From April 1, 2024, to April 24, 2024, the aggregate gross production from these wells averaged 625 barrels of oil per day (bopd), with a maximum peak oil production during the month of 915 bopd. The reactivation of these wells and the field involved several downhole and surface activities, which were completed in accordance with the approved development plan. Currently, the well services pulling unit is operating on well NS-805, replacing the artificial lift system, and the well is expected to be on production by the end of April, 2024. Following production recovery at LZ-621 and NS-805, there is a plan to reactivate wells NS-806, NG-806, NZ-519, LZ-632 and LS-1, which is expected to add an additional 600 bopd, taking total gross production to 1,300 bopd by the end of June, 2024.

GoldPillar reconfirms it has all the technical, operational and administrative personnel in position to continue executing the 2024 investment plan, which contemplates the reactivation of 41 wells, with the goal of achieving gross production at Vencupet of approximately 3,500 bopd by the end of 2024, operating under the highest standards of safety and environmental sustainability.

We seek Safe Harbor.

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