DLC 0.00% 0.6¢ delecta limited

News: Delecta has better than expected oil and gas flows from Oklahoma well

  1. Delecta’s (ASX:DLC) Wise 1-25 conventional well in Oklahoma continues to flow oil and gas from the secondary Viola formation at rates well beyond expectations.

    The Viola formation is a prolific producing formation in the area and has been flowing oil and gas naturally for more than 14 days at a rate of around 85 barrels of oil equivalent per day.

    The company has decided to continue production from the formation naturally and will remove the bridge plug between the Viola and the already completed primary Wilcox zone once pressure and production from the naturally flowing Viola reaches levels where it is safe to do so.

    Wise 1-25 well targeted multiple stacked producing zones and given the early results from the Viola formation, the company is confident of the future success of the Canadian River project.

    Delecta has an 80% working interest and a 58% net revenue interest in the Wise 1-25 well.


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