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Axiom Oil and Gas Plans to Drill and Complete 4 Oil Wells in Montana
Axiom Oil and Gas will deploy the expert engineering services of Apex Energy Consultants to drill and complete 4 wells on the leases located in Montana
A look at our operations:
The Company’s leases are located on large geological structure located Montana. This geological feature has over 850 ft of structural closure and covers approximately 1,000 square miles. It lies along the edge of an area where significant oil has been generated from the organic-rich Bakken Shale. Oil companies have been drilling in this region for many years and more than 250 million barrels of Bakken-generated oil have already been produced.
Axiom jointly owns leases on approximately 13,780 gross acres (5,640 net acres) containing two drilled oil wells, two producing gas wells and the targeted locations are delineated by 39 square miles of comprehensive 3D seismic data.
Furthermore, production costs are minimized because the oil field does not produce water.
The plans developed by APEX:
APEX has, upon review of the project, developed plans which will enable the Company to bring a sample profile of the most promising properties online. Upon successful completion, these wells will provide Axiom and its partners with operating cash flow as well as a proven viability sample upon which it can plan for the further development on the adjunct leases.
Historically, the typical IP for wells has been between 30 and 100 BOPD with an average production of 30 - 50 BOPD in the first year. It is a conventional drilling project with over 70 identified targets for development drilling. The targeted zone is the Nisku at about 3,100 feet that contains Bakken oil (38 API) (with a free look at 7 zones as we drill through). As well, the surrounding wells produce no water keeping production costs very low.
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 Montana. 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’
Axiom Oil and Gas Corp. trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on otcmarkets.com.
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,"
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