|Mon Jan 28, 2002|
Lomand Well Successful
| ||The Company is pleased to announce the successful completion of the Lomand well, the Company's fifth producing well. The Lomand, is a re-entry of an existing wellbore that has been perforated in the Basal Quartz strata. The Company's consulting geologist estimate this well to produce approximately 30 barrels of oil per day, plus natural gas of approximately 150,000 cubic feet per day. The 28 feet thick Basal Quartz Sandstone and the 640 acres covered by this lease should ensure an extremely long life for the Lomand well. The Company has a 20% undilutable working interest in this well and all land contained on this crown lease. |
The Farrow Well located 65 miles southeast of Calgary, is undergoing final pump set-up. The well is more productive than originally expected with a single day record of 70 barrels of sweet crude. The Farrow is in the final process of cleaning out the original fracing sand and should stabilize once the well has been engineered to accommodate the frac sand. The Company has a 22.5% undilutable working interest in the Lomand.
On Behalf of the Board
Mount Dakota Energy Corp.
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