Nextraction Commencing Drilling Operations at the Provost Viking PoolJune 29, 2011
Vancouver, BC - Nextraction Energy Corp. (TSX-V: NE) (the "Company"), is pleased to announce drilling operations have commenced on its Provost Viking property in eastern Alberta. The well will target the Viking formation and will include a 1,200 meter horizontal leg at a depth of 800 meters. The well offsets vertical wells previously drilled on the property that have produced over 500,000 barrels of oil. This is the first well of a two well program planned for this summer. The Company has identified eleven (11) follow up locations that could be drilled immediately, with the potential for nine (9) further wells, should down spacing be warranted.
The Company has also participated in the re-completion of an existing well on the property that is currently cleaning up frac fluid. The Company is encouraged by the initial results, as they have met expectations and confirmed that reservoir pressure remains high in the pool.
About Nextraction Energy Corp.
Nextraction Energy Corp. is a Canadian junior oil and gas company engaged in the exploration and development of oil and gas resources in North America. The Company's model is the "next round of extraction on known plays." Nextraction targets projects along trends with known reserves that provide low risk, high return development opportunities in both conventional and unconventional resource projects. In addition to the Provost pool, the Company is producing light oil and liquids rich gas at its Pinedale Anticline property in Wyoming. Nextraction also has exploratory rights to conduct a three dimensional seismic survey and development opportunities in the Saturn Project located in eastern Montana.
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