Petromin Announces Update on Frog Lake and Morningside
Monday, 04 March 2013
Vancouver – March 4th, 2013 - Petromin Resources Ltd. (PTR.V) is
pleased to announce that it has commenced work over operations at its' Frog
Lake 7A and 7B wells in which the Company has 100% and 45% working interests
(WI)respectively and anticipates production to resume shortly.
The Company is also reviewing farm out options to drill its' forth well
location at Frog Lake.
Petromin has also completed the economic study requested by the Energy
Resources and Conservation Board (ERCB) of the excess gas that was being flared
during the production testing of its' Morningside oil well.
Petromin now has approval to resume production testing by committing to tie
into the pipeline the excess gas that was being flared and the Company has thus
begun proceedings to tie into the existing low pressure pipeline that exists on
the surface lease.
Production testing of the Morningside oil well is expected to resume shortly.
The Company retains a gross overriding royalty before payout convertible to a
25% WI after payout and retains a 50% WI in the undrilled acreage.