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Painted Pony Petroleum is continuing work with wells on their properties in southeast Saskatchewan.
In an update on their operations provided shortly before Christmas, Painted Pony indicated they have begun a delineation program with three wells (1.2 net) drilled in the fourth quarter of 2011.
The first well, in which they have a 30-per-cent working interest, was completed in mid-December and flowed at a rate of 295 barrels of oil a day, with a 30-per-cent water cut after one week.
The second well, also with a 30-per-cent working interest, is currently being completed, and the third well, with a 65-per-cent working interest, to be completed in January 2012.
The overall production by Painted Pony properties for the first 15 days of December showed an average of 5,500 barrels a day of oil, with 30 per cent oil and liquids. In addition, over 2,200 boe per day of production has been tested and is awaiting tie-in, and should be brought on stream before the end of January.
