CALGARY, June 27, 2019 /CNW/ - Pulse Oil Corp.
("Pulse" or the "Company") (TSX-V: PUL and PUL.WT) is pleased to
announce that Pulse has been chosen to present at the prestigious
"SIS Global Forum" September 16 to 19
in Monaco, presenting a paper
titled "Reviving a Mature, Watered-Out Fractured Carbonate
Reservoir: An Integrated Approach to Design a Miscible EOR Scheme
for two Bigoray Nisku Pools in Alberta." More information on the Global Forum
can be found at:
https://www.software.slb.com/sis-global-forum-2019.
Details of the SIS Global Forum:
The SIS Global Forum 2019 is a highly technical global
conference which focuses on driving digital vision into reality
through technology, collaboration, and openness in the oil and gas
industry.
Pulse will present the findings of its geotechnical study of the
Bigoray Nisku D and E oil pools. This in-depth study was completed
with the invaluable resources and expertise of Schlumberger Canada
Ltd., one of the world's leading providers of technology for
reservoir characterization, drilling, production, and processing to
the oil and gas industry. The study was deemed critical by Pulse's
management team to ensure proper diligence was conducted prior to
the physical implementation of the EOR schemes.
The three main components of the study were:
- Geological Study
- Geological and Geophysical Modelling
- Reservoir Simulation
The end result of this work has provided Pulse with a dynamic
reservoir model, using the full-field model built from the initial
development plan, integrated with the latest data acquired from
surface 3-D seismic, single well logs, core data and inter-well
data. Importantly, the application of all of the reservoir data,
coupled with detailed production history and integrated into a
digital dynamic vision of EOR potential performance resulted in the
Schlumberger conclusion that "oil recovery from the subject Bigoray
Nisku pools could potentially be doubled by implementing the EOR
scheme investigated." The pools have recovered over 9 million
barrels of sweet medium-light crude oil to date.
More information on the abstract can be found
at: https://www.software.slb.com/sis-global-forum-2019/themes/reservoir-engineering-and-simulation.
About Pulse Oil Corp.
Pulse is a debt-free, Canadian company incorporated under the
Business Corporations Act (Alberta) that is focused on methodically,
safely, yet aggressively making progress to increase production and
reserves in the Queenstown and
Bigoray acreages it holds 100% interests in. In addition, Pulse is
advancing its Bigoray EOR program and new drilling efforts in
Queenstown. Pulse owns 100%
interests in the Bigoray area of Alberta, which includes two Nisku oil pinnacle reefs, as well as 100%
interests in producing assets in the Queenstown area of southern Alberta. Pulse is moving forward to grow
production and execute an EOR project to unlock significant value
for shareholders through control of approximately 65 net sections
of land across the Mannville,
Cardium, Pekisko/Shunda, Nisku and
Duvernay Shale trends in Western Canada. Pulse will also
continue to focus on potentially acquiring affordable, small to
medium sized proven oil and gas assets with significant upside. The
Company plans to achieve further growth through low-risk,
technically diligent drilling within its Queenstown assets, infrastructure ownership
and reserve growth utilizing proven EOR techniques and
implementation of technology.
Neither the TSX Venture Exchange, Inc. nor its Regulation
Service Provider (as that term is defined under the policies of the
TSX Venture Exchange) has neither approved nor disapproved of the
contents of this press release.
READER ADVISORY
This press release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The words "believe," "expect," "anticipate,"
"plan," "intend," "foresee," "should," "would," "could,"
"potentially" or other similar expressions are intended to identify
forward-looking statements, which are generally not historical in
nature. Such statements include, without limitation,
statements pertaining to the Bigoray and Queenstown operations currently underway,
including production rates, cash flow, drilling plans and results,
production testing, well completion, anticipated future production,
and facilities related to the assets of Pulse Oil. In addition such
statements also include without limitation, statements pertaining
to the expected Bigoray EOR project and its planned
development.
The forward-looking statements are based on management's current
expectations and beliefs concerning future developments and their
potential effect on the Company based on information currently
available to management. While management believes that these
forward-looking statements are reasonable as and when made, there
can be no assurance that future developments affecting Pulse will
be those anticipated. Forward-looking information involves known
and unknown risks, uncertainties, assumptions and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking information. Important
factors that could cause actual results to differ materially from
those in the forward looking statements include, but are not
limited to: production and drilling results that deviate from
management's current expectations; delays in the Company's drilling
activities and tie-in of infrastructure; the volatility of
commodity prices, product supply and demand, competition, access to
and cost of capital, the assumptions underlying production
forecast, the quality of technical data; environmental and weather
risks, including the possible impacts of climate change, the
ability to obtain environmental and other permits and the timing
thereto, government regulation or action, the costs, timing and
results of drilling operations; the availability of equipment,
services, resources and personnel required to complete the
Company's planned operating activities; access to and availability
of transportation, processing and refining facilities, acts of war
or terrorism; and general economic conditions and other financial,
operational and legal risks and uncertainties. The forward-looking
statements contained in this press release are made as of the date
hereof and the Company undertakes no obligations to update publicly
or revise any forward-looking statements or information, whether as
a result of new information, future events or otherwise, unless so
required by applicable securities laws.
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SOURCE Pulse Oil Corp.
