CALGARY, ALBERTA, Aug. 9, 2010 (Marketwire) -- Anglo Canadian Oil Corp. ("Anglo" or the "Corporation") (TSX VENTURE:ACG) continues to complete and evaluate its Shane 7-11 well after drilling to a total measured depth of 2650m. The initial well swabbing over a 2 day period, from a limited reservoir access wellbore and after recovering load fluid, averaged 2.5m3/day (16 bbls/day) oil production with an average total fluid production of 6.7 m3/day (42 bbls/day). Water cuts were 63% over the same period. Oil analysis from these initial swabs shows an API gravity of 26. The well has not yet been stimulated. Work to allow full access to the wellbore to fully evaluate all potential hydrocarbon bearing zones in the "Nordegg Member" will continue over the next 3 weeks.
In addition, Anglo's recently spudded Sturgeon Lake South 15-10 well has been drilled and cased as a potential vertical Nordegg Member oilwell. It is anticipated a multistage vertical fracing completion will be performed over the 32 m of Nordegg Member encountered on this well.
Based on the 16 barrels per day swab test rate it's obvious that the first well won't produce commercial volumes of oil without fracture stimulation, but the test proves that oil in the formation is mobile. The water cut however is troubling since the resource study stated that the water saturation in the reservoir is or should be much lower than in the Bakken, Cardium or the Lower Shaunavon. Perhaps the rock is exceptionally wet in the area where the Shane-well is located.
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