CALGARY,
Oct. 21, 2013 /CNW/ - Raise
Production Inc. (TSX-V: RPC) ("Raise" or the "Company") is pleased
to announce it has completed a 60 day test period of its prototype
horizontal wellbore production system (the "System").
During the week of August
12, 2013, the Company deployed its first System in a
horizontal well producing from the Viking formation in Kindersley, Saskatchewan. The field
deployment of this original prototype system was an extension of
the testing previously completed by the Company in its facilities.
Over the subsequent two months, the Company conducted a number of
tests on the System designed to provide detailed information
regarding flow dynamics, System and vertical lift integration, and
insight into reservoir characteristics along the horizontal
section.
The Company is very pleased with the test
results which confirm the System is working as designed, is stable,
robust and verifies the theory that the System can have a
meaningful impact on horizontal flow. Additionally, some results
have led to the creation of procedures and equipment modifications
and manufacturing of parts, which are not related to the Company's
System but may have copyright or patent potential, and as such the
Company is not prepared to make public disclosure of detailed test
procedures and results at this time.
It is important to note, that based on the
results, data and successful operation of the prototype System, the
Company has agreed with its industry partner to install a
commercial System in the second deployment of its three system
deployment test program at the end of November or early
December 2013. The deployment will be
in the same wellbore as the recently completed test.
Eric Laing,
President and CEO of the Company, commented on the first deployment
"we feel very good about the outcome of this test. This first
deployment gives me confidence that we can deploy our System and
operate it in the reservoir. Also, what we have learned in our
testing has materially moved us up our learning curve. This is a
real success."
Looking to the Company's next operations,
Geoff Steele, VP Engineering, stated
"We appreciate all the support our industry partner has given us in
this first test and look forward to working with them as we deploy
our second System in just over one month's time. We are building
the new System as we speak and are excited about taking the next
step toward offering the oil industry a commercial horizontal
pumping solution."
About Raise Production Inc.
The Company is an innovative oilfield service
company that focuses its efforts on the production service sector,
utilizing its patented products to enhance and increase ultimate
production in both conventional and unconventional horizontal oil
and gas wells.
This news release contains certain
forward-looking statements. All statements, other than
statements of historical fact, are forward looking statements that
involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from these
anticipated in such statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
SOURCE Raise Production Inc.
