Peninsula Energy Limited is pleased to announce the successful completion of the deep disposal well (DDW) for stage 1 Lance In-Situ Recovery (ISR) Projects in Wyoming, USA. Peninsula's wholly-owned subsidiary Strata Energy Inc. continues development at the Lance Projects on budget and on schedule for first production H2, 2015.

Drilling of the DDW commenced in March 2015 and was drilled to a target depth of 8,607 feet ahead of schedule. On conclusion of the primary drilling activity, a work-over and completion rig was mobilised to site in April 2015 to finalise completion of the well and carry out well performance tests.

An 18-hour performance test of the DDW demonstrated an injection rate of 35 gallons per minute (gpm), well in excess of the 20 gpm requirement for stage 1 operations. The 35 gpm injection rate was achieved using a pump pressure of only 27 pounds per square inch (psi) while the well is approved for pumping pressure of up to 1,000psi. Simulation modelling also confirmed the expectation that the DDW will be available for approximately 10 years use.

Tags: Peninsula Energy Limited