Decklar Resources Inc. Announces Operations Update on Oza-1 Well Re-entry
- Drilling rig for re-entry and testing operations has been contracted, with mobilization anticipated to commence next week.
- Camp and logistics equipment required for Oza-1 well re-entry is currently being staged on site.
- Long lead equipment items required to test and complete the Oza-1 well re-entry have been ordered and service contractors have been sourced and secured.
TORONTO, April 08, 2021 -- Decklar Resources Inc. (DKL-TSX Venture) (the "Company" or "Decklar") and its co-venturer Millenium Oil & Gas Company Limited ("Millenium") are pleased to announce that activities for the Oza-1 well re-entry at the Oza Oil Field have made significant progress. The Oza-1 re-entry represents the start of an aggressive field development of the Oza Oil Field through the Company's wholly-owned Nigeria-based subsidiary, Decklar Petroleum Limited, and Millenium, its Nigerian co-venturer on the Oza Field.
Progress on Preparation for Oza-1 Well Re-entry
Decklar has contracted a 1300 HP trailer-mounted drilling rig that is currently located in Port Harcourt, approximately 60 km from the Oza Oil Field in the Niger Delta. The drilling rig will be used for the re-entry and testing of the Oza-1 well, then immediately followed by the drilling of a horizontal development well from the Oza-1 drilling pad. Drilling of additional development wells is planned after completion and analysis of the re-entry and horizontal wells at the Oza-1 location. It is anticipated that the drilling rig will commence its mobilization to the Oza Field next week, with the move expected to take approximately seven days. Further, the camp to house the personnel engaged to provide support for operations and related logistics facilities is currently being moved and set up at the Oza Oil Field. Additionally, equipment and supplies with longer lead times that are needed to test and complete the Oza-1 well as part of the re-entry activities have been ordered, secured, and are expected to arrive in Nigeria over the next two to five weeks. Service contractors have been sourced and contracted for the near-term operational activities.
Decklar's CEO, Duncan Blount commented, "We are pleased with the progress being made and look forward with anticipation to the commencement of Oza-1 re-entry operations, testing, completion, and initial production at the Oza Field. These initial operations at the Oza Oil Field represent a milestone culminating from considerable effort and preparation for the initial development activities at the Oza Oil Field with Millenium."
For further information:
Duncan T. Blount
Chief Executive Officer Telephone: +1 305 890 6516
VP Finance, Decklar Petroleum Telephone: +1 403 816 3029
Investor Relations: firstname.lastname@example.org
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