Advantagewon prepares for drilling on first well of 2019 Drilling Programme
Advantagewon Oil has signed a contract and secured the drilling rig for the purpose of commencement of drilling the first well of the corporation’s 2019 Drilling Programme.
The first well will target multiple shallow sands on land that is currently producing oil from these zones. The zones targeted include the deeper Poth B zone proven to be oil bearing by completion of an existing well on this lease as announced on 31st October 2018 as well as the established shallower oil bearing Poth A zone.
All drilling permits have been secured, and site preparation for the drilling began on 14th March 2019. The drill rig is scheduled to mobilise to the drilling location and commence drilling between 18th and 20th March 2019. The Corporation anticipates initial flow rates between 10 to 20 barrels of oil per day from this initial well. Drilling, casing, completion and equipping of the well is expected to be complete by 10th April 2019.
Advantagewon is focused on building consistent cash flow from low cost, low-risk oil wells in the State of Texas. AOC applies specialised expertise to increase oil recovery from 10-15% to up to 75% for each well. Once the enhanced recovery strategy is successfully applied, AOC will repeat the process throughout the oil pool to maximise output and minimise cost and risk.