Calgary, Alberta – (News File Corporation – November 30, 2021) – Bengal Energy Limited (TSX ፡ Regular BNG) (“Bengal” or “Company”) The Cuisinier Oil Field Water Injection Pilot Program is pleased to announce the launch of a permanent water injection program on November 12, 2021.
The previously produced Cuisinier 24 (“C24”) well was converted into a water injector and moved from the Cuisinier 7 pipeline to the C24 site and into the reservoir.
Currently, the injection volume is 377 barrels of water per day, of which 4,000 barrels of water have been injected so far, and the C24 well head pressure is 1022 psi. The next plan is to increase immunization volume to 1,350 psi per head of well.
“We are delighted to see the much-anticipated water injection pilot implemented by Cuisinier,” said Bengali President and CEO Chakrabarti. “We believe Murta is a suitable water-based candidate for the formation of Cuurta at Cuisinier, with high quality water storage features, low crude oil viscosity and low GOR in the GOR tank. Drive damaged manufacturers. “
In addition, the Bartta Joint Venture in Cuisinier is expected to be cost effective in terms of water treatment and disposal of up to $ 700,000 per year. Oil production.
With the continued success of the program, most of the required plant and equipment costs can be expanded in the field.
The Cuisinier field first produced 2P Oil, which is 4% off 95 million barrels of crude oil (29 million barrels of refined Bengal 30.357% interest in the Cuisinier field).1 The company’s latest third-party backup review will take effect on March 31, 2021. The company expects a comprehensive field-pressure maintenance program to help reduce natural pool production by increasing overall oil recovery.
Bengal Energy Limited is a global junior oil and gas exploration and production company based in Australia. The company is committed to increasing its shareholder value through global search, production and acquisition. Bengal shares are traded under the Toronto Stock Exchange under the “BNG” symbol. More information is available at www.bengalenergy.ca.
This release contains a number of forward-looking statements or information (“forward-looking statements”), the significant known and unknown risks and uncertainties set forth in the relevant security laws, most of which are out of Bengal’s control. These statements relate to our future activities or future performance. All statements other than historical facts may be forward-looking statements. Use any of the words “plan”, “expect”, “future”, “project”, “think”, “believe”, “must”, “can”, “predict”, “guess”, “potential”. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, The forecasts, assumptions, and beliefs contained in such forward-looking statements are based on administrative assumptions, opinions, and assumptions made at the time the statements were made, including estimates of the impact of the economic situation in North America and Australia and internationally; Industrial conditions; Changes in laws and regulations, including the adoption of new local laws and regulations and changes in how they are interpreted and implemented; Increase competition; The presence of competent operating or administrative staff; Fluctuations in commodity prices, foreign exchange or interest rates; Stock market volatility and volatility; Results of exploration and testing activities, and ongoing or expected asset performance; And the ability to obtain the necessary approvals and extensions from regulatory authorities. We believe that the expectations in the forthcoming statements are reasonable, but there is no guarantee that any events in the future statements will or will not take place or that any of them will benefit. Bengal comes from them. Therefore, overconfidence should not be included in future statements.
Specifically, future statements include, but are not limited to, statements that reflect the Company’s focus, plans, priorities, and strategies; And plans related to the Cuisinier Oil Field Water Injection Pilot program, including the expected outcomes of the Cuisinier Oil Field Water Injection Pilot program, including oil recovery, cost savings, increased volume in the Cuisinier to Cook pipeline, and the company’s expansion. The program and the results of the program at the Natural Pool Crop Factory and Oil Recovery Factory.
The forward-looking statements contained in Bengal’s actual performance or success are subject to many known and unknown threats and uncertainties that may vary materially in the future but are not limited to these forthcoming statements. To, risks associated with: Bengal development and exploration opportunities; The economic situation in North America and Australia; Impact of the CVD-19 epidemic and the company’s inability to perform its intended function, lack of necessary regulatory approvals or extensions in the context of the CVD-19 epidemic; Decisions made in OPEC and other countries regarding product standards; Failure to comply with conditions in agricultural and joint venture agreements, including agreements with Santos and other third party contracts; Failure of third parties to fulfill their obligations under the contract with the Company; Failure to protect necessary equipment and personnel; Increase competition; The presence of competent operating or administrative staff; Fluctuations in commodity prices, foreign exchange or interest rates; Results of changes in laws and regulations, findings of exploration and development, and related activities, including changes to new environmental and tax laws and regulations and how they are interpreted and implemented; Ability to access pipeline infrastructure; The ability to obtain sufficient capital from both internal and external sources; And stock market volatility. The company warns that the list of assumptions, concerns and uncertainties described above is not comprehensive. More information on these and other factors that may affect the company is included in the reports of Canadian insurance regulators and can be found on the SEDAR website (www.sedar.com). The forward-looking statements contained in this news release are effective only from this date onwards and Bengal is not obliged to publicly update or revise to reflect new developments or conditions, except in accordance with applicable warranty laws.
For more information, please contact:
Bengal Energy Limited
Chayan Chakrabarty, President and CEO
Gerard Blanchard, Chief Financial Officer
Phone: (403) 205-2526
1 OIIP first means “DPIIP”. OIIP was developed by Bengal Independent Reserve Reviewers GLJ Limited (“GLJ”) and is based on the National Reserve 51-101 and Canada’s Petroleum and Gas Assessment Manual (“COGEH”) for the purpose of the free reserve reported in March. 31, 2021 (“GLJ Report”). This estimate is intended to guide the total amount of oil found in the first place, excluding regenerative capacity and is therefore a very special category of COGEH. DPIP, as stated in COGEH, is the amount of petroleum that is estimated to be in pre-production reserves from the date of manufacture. The returnable DPIIP component includes non-backup products, backups and resources. OIIP / DPIIP and recovery rate estimates are based on current recovery technologies. There is a great deal of doubt about the ultimate recovery and usefulness of any inputs associated with OIIP / DPIIP. There is no guarantee that OIIP / DPIIP will be commercially viable to produce any part of the total stock so far and the reserves in the GLJ report. Any further rehabilitation of the OIIP / DPIIP unit, which cannot be renewed by injection, can only be considered and evaluated by the performance of the pressure injection system. For more information, including the company’s restaurant property, please see Bengal Annual Information Form March 31, 2021 at www.sedar.com.
To see the source of this press release, please visit https://www.newsfilecorp.com/release/105766.