The content has been shared, if you want to share this content with other users click here.
Press release from International Frontier Resources
International Frontier Resources Corporation ("IFR" or the "Company") (TSX-V: IFR) (OTCQB: IFRTF) is pleased to announce the results of the extended testing operation of the TEC-10 well drilled by its joint venture, Tonalli Energia ("Tonalli") at Tecolutla onshore oil and gas block in Mexico.
On August 6, 2018, Tonalli completed an 18-day flow test of the primary zone interval with the following results:
"IFR is encouraged by the economic results obtained over the extended production test including the increase in oil production and the high deliverability of the TEC-10 well," stated Steve Hanson, President and CEO of IFR. "The results from TEC-10 are a significant improvement from the initial figures released and show great promise for development of the field."
The data obtained during the extended well test are consistent with Tonalli's technical model where the existing vertical wells have only partially depleted the El Abra reservoir at this interval depth in the South-Western portion of the Tecolutla Block.
A graphical depiction of the test results since perforation can be accessed by clicking on the following link: http://www.internationalfrontier.com/i/pdf/TEC-10_Testing_August-7-2018.pdf
Perforation and stimulation operations of the TEC-10 well commenced in late June targeting multiple zones over 138m of gross El Abra reef. Initial results of the TEC-10 flow tests from the lower intervals and the upper zone target, Interval C were released on July 23, 2018.
The TEC-10 well has been shut-in to record pressure data that will provide additional information to be used for the full development of the asset. The pressure build-up period is expected to last between two to three weeks. Tonalli is continuing to work with service providers in Mexico to allow for the TEC-10 well to resume production testing operations after the shut-in period.
Tonalli intends to recommence the well testing operations in order to monitor the performance of the TEC-10 well before permanent production and water disposal facilities are installed. Tonalli's technical team will continue to evaluate the test data to determine the optimum production rate for the TEC-10 well to maximize hydrocarbon recovery.
TEC-11 Horizontal Well Planning Underway
Tonalli is planning to commence construction of the surface pad site for the first horizontal well ("TEC-11") within the next few weeks and expects drilling operations to commence in late Q4-2018, subject to final regulatory approvals. The TEC-11 horizontal well will be drilled in the Northern extension of the Tecolutla block targeting a portion of the El Abra reservoir that has not been accessed due to surface topography.
This new well will be the drilled from the existing TEC-2 surface location and utilize the knowledge obtained during the drilling and completion of the TEC-10 directional well. Tonalli expects that the reprocessed 3D seismic data and application of horizontal drilling will mitigate the risk of encountering localized geological features that limit well performance. The TEC-11 Horizontal well is designed to maximize the contact of the Horizontal leg of the wellbore with the upper portion of the prolific El Abra reservoir.
Please see the Tec 11 drilling map by clicking on the following link:
Through its joint venture, IFR was one of the first foreign companies to participate in Mexico's historic reform of the oil and gas sector. The Tecolutla block was awarded to Tonalli as part of the first round and third call of Mexico's oil and natural gas "mature fields" bid round ("Round 1.3"), the first in almost 80 years.