The Board of Burleson advises that the Truchard #3 well has been on production now for 23 days including the initial 'cleaning up' phase where it was discharging the remaining frac fluids and drilling fluids.

Despite the recent falls in oil and gas prices, based on these average flow rates, T#3 will add significant cash to Burleson’s financial position at the rate of approximately USD$75,000 per month1 (equivalent to AUD92,000 using an exchange rate of USD$1 =AUD$0.81).

This forecast is based on average monthly production rates of 1200 mcf/d and 22 b/d however the Board further advises that some production decline is expected from this conventional well.

Tags: Burleson Energy