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Article: The Wiser Oil Company Completes Fifteenth Well at Provost And Expects to Report a Loss for the Third Quarter
- Article from:
- PR Newswire
- Article date:
- October 31, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Oct. 31 /PRNewswire/ -- The Wiser Oil Company (NYSE: WZR) announced the completion of fifteen oil wells in the Provost Prospect, located in southwest Alberta, Canada. Wiser drilled the discovery well in the W3W Pool in May 1997, and an offset well was drilled in June. Thirteen wells have been drilled in a 960-acre area within the Pool during the last ninety days. Production is from the lower Cretaceous sands at a depth of approximately 1,000 meters. Five of the fifteen wells are already under production, and the next ten are expected to start producing during the month of November. Initial production, of 28-degree oil, is estimated to average 100 BOPD per well. ...