.png)
CALGARY, AB / ACCESSWIRE / December 3, 2018 / Point Loma Resources Ltd. (TSX-V: PLX) (the “ Corporation ” or “ Point Loma “) is pleased to announce the casing of the Corporation’s recently captured Rex oil opportunity. In addition, the Corporation is providing updated operational information. Highlights Rex oil horizontal was cased on December 2, 2018. The well is expected to be completed and evaluated prior to year-end. Completion plans for the well include approximately 28 frac stages. Operational Update The Corporation intends to complete and evaluate the Rex well in December and would then flow back including flowing back and testing the well after the multi-stage frac operations. Given the potential noted during the drilling of the well Point Loma has elected to focus on enhancing the completion of this well utilizing larger size fracs than originally planned to optimize the production capability from the zone. As a result, Point Loma now plans to limit the current drilling program to the Rex well at Wizard Lake in order to allow for a more optimal completion and to preserve capital in the current challenging commodity market. The second well of the program is licensed and is expected to […]
