Nitro Petroleum Inc. Receives Encouraging Results on West Central Alberta ProjectFont size: A | A | A4:24 PM ET 8/25/09 | Market Wire Nitro Petroleum Incorporated (OTCBB: NTRO) is pleased to announce that it has received a progress report on the C well, which is the first well completed on this 2 well project.
The area this discovery well is located in has been previously known for high pressure gas but the Operator reports that this well has intersected an oil zone. This oil zone is free flowing at a rate of 40 bbl/day and 320mcf gas. The well has produced over 850 bbls of oil and over 10 million cubic feet of natural gas during the 30 day production test. The operator believes this test has been flowing at 60% capacity.
There are 10 additional targets in this area that the company can participate in. The Company has entered into this investment by way of a Limited Partnership agreement. Larry Wise, President of Nitro, commented, "This is a significant discovery well on our first project in Alberta and the company is extremely encouraged by these initial results and the prospect of further participation in additional wells."
Posted by brokes on :
i'm in. Started taking notice on Monday. Hope it runs today.
Posted by jdizz on :