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Follow on Google News | Independent study shows the “exceptional potential” of the Kevin Sunburst DomeAn independent study was carried out by a petroleum consultant in January 2014 drawing upon well information integrated with 3D seismic and verified using the HIS online database. Below is a representation of the key findings:
“The Nisku Formation averages approximately seventy feet throughout the study area. Open shelf low energy carbonates in the lower third are overlain by twenty feet of grainstones and packstones where the productive oil reservoir is developed. This Middle layer grades upward into supratidal laminated dolomites and anhydrite. Being finally capped by a ten foot layer of bedded anhydrites and dolomites; the Nisku represents a regressive depositional sequence. The Nisku, at approximately 3,000 feet, is productive in the East Kevin and Nine Mile Oilfields. Both Fields are highly economic with recoveries of over one million barrels of oil for the East Kevin Field from twenty wells. Cumulative oil production is variable within the Field as nine of these wells have produced over fifty thousand BO per well, and several vertical wells have or will exceed 90,000 BO. Initial potentials range from 8 to 108 BOPD. Preliminary economic analysis indicates a ROI in excess of 5:1 in a successful case. “ “The productive Nisku reservoir in the East Kevin and Nine Mile Oilfields trends northwest to southeast. The reservoir is developed approximately five miles long in strike at East Kevin and two miles at Nine Mile. Each Field shows development to date of about one mile in a dip direction. The Nisku reservoir is a dolomitized grainstone/packstone porosity zone averaging five to fifteen feet in thickness. Productive porosity ranges from 3% to 24% typically with one tenth to 3 millidarcies of permeability. Reservoir drive appears to be gas expansion with no formation water.” “Volumetric analysis of the Nisku oil reservoir was performed on individual wells in East Kevin and Nine Mile Fields. The oil recoveries predicted by volumetric calculations were compared to a given well’s actual recovery to date and projected ultimate recovery. Observed oil recoveries were significantly higher than predicted by the calculations. Normally, primary oil recoveries from carbonates range from ten to fifteen percent of the original oil in place (OOIP). Observed recoveries in several wells exceed twenty percent. The difference can be explained by the “non-perforated” The potential of horizontal drilling and multi stage fracking “Analysis reviewed in the preceding paragraph suggests that substantial oil volumes exist in the “non-perforated” Exceptional Potential “In summary, with expected recoveries in excess of 50,000 barrels of oil per vertical well, at 3,000’, and only 108 Nisku wells drilled within the 1,000 square mile Kevin Sunburst Dome closure; the Program has exceptional potential. In addition, the application of horizontal and multistage fracturing techniques should increase the play’s economics significantly.” About Axiom Oil and Gas Corp.: Axiom Oil and Gas Corp. is an oil and gas exploration and development company, formed initially, to develop oil and gas leases in Toole County, MT. The Company provides investors with direct exposure to producing oil and natural gas interests with significantly lower production costs. With a strong management and operations team and low risk development drilling, the Company is building a solid base operation with stable cash flow to ensure corporate longevity and minimal dilution as it grows its shareholders’ Forward Looking Statement: This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," End
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