Stonehorse Energy Limited (ASX: SHE) has recently engaged in a Participation Agreement with Certus Oil & Gas Inc to acquire a 26.25% Net Working Interest in the proposed Certus 1-27-33 liquids rich gas well situated in Central Alberta, Canada. The investment is considered a high-grade opportunity, promising strong short-cycle returns in the current price environment. Thorough due diligence has been conducted on various aspects, including the reservoir, well location, production battery, gathering system, and the deep cut gas plant.
The decision is backed by the success of the nearby Taqa well, which produced 1.75 Bcf (292 MBOE) in just 16 months. The new well will be optimized with a 2-Mile Lateral, aimed at maximizing production rate and Estimated Ultimate Recovery (EUR). Operations for the well are set to commence on 25th July 2023, with drilling and tie-in managed by a joint venture participant and area expert. This investment provides Stonehorse with the potential to significantly increase its net oil and gas production. Additionally, the agreement allows for participation in up to three more development wells in the earned acreage, pending the performance of the initial well.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
