Primary Petroleum Corporation (TSXV:PIE,OTCQX:PETEF) provided technical updates on its Pondera-Teton Prospect located in the Southern Alberta Basin Bakken Fairway in NW Montana.
• Primary has completed five 3D seismic programs covering approx. 95 sq. miles and one additional 37 sq. mile program is currently being permitted.
Initial six vertical stratigraphic wells:
• All six wells were drilled vertically into the upper Duperow formation, ranging in depth between 4500-6500 ft. All wells were cored across various sections of the “Bakken System” (lower Lodgepole, Bakken, Three Forks and Big Valley/Upper Potlatch).
Three supplemental vertical wells:
• All wells drilled into the upper Duperow formation, with one well cored across the Nisku formation.
Primary has requested and has been granted by its JV Partner continued Operatorship for the balance of the drilling and completion operations in the Phase I program.
• Primary has commenced the horizontal drilling program and is anticipating at this time to drill three or four horizontal wells, each targeting a specific reservoir zone by the end of September 2012. The Company is also anticipating the conclusion of completion operations by the end of October.