Well #1: Artisan Ferrybank HZ 10-8-43-27W5
This 750m horizontal lateral in the Belly River formation was completed with 11 – 15 tonne fracture stimulations. It averaged approximately 85 bopd during its first 60 days post cleanout (in excess of the projected 60 day IP of 75 bopd). The well proves the validity of 11 additional oil horizontal drilling locations with lateral lengths of 900 to 1200m.
Well #2: Artisan Chip Lake HZ 9-33-53-10W5
This 250m horizontal lateral in the Rock Creek formation was completed with a 50 tonne fracture treatment into 4 sets of perforations. Production is expected to commence after construction of a solution gas pipeline in May 2013. The well tested at rates commensurate with the projected 60 day IP of 125 bopd and 312 mcf/day. The well proves the validity of 10 of 27 potential oil horizontal drilling locations.
Well # 3: Artisan Tomahawk 1-20-52-7W5
This vertical exploratory well tested 80 barrels of clean oil and 700 mcf during a 2 day test of one prospective zone. While not commercial in this well because of indicated limited reservoir, the zone is highly prospective on the balance of Artisan’s lands where improved porosity and reservoir areal extent is apparent. The primary target zone - Wilrich (high liquids natural gas) - will be completed and tested in the coming months to prove reserves and secure mappable lands indefinitely. The well also validated 9 of Artisan’s 16 section land base in the area and earned a 50% interest in an additional non-operated section.
