- Decklar and its joint venturer began loading crude oil into Oza oilfield trucks from storage tanks for delivery to Umugini Pipeline Infrastructure Limited (“UPIL”) crude handling facilities for onward transfer to the Shell Petroleum Development Company of Nigeria Limited (“SPDC” Joint Venture Forcados Oil Export Terminal via the Umugini Pipeline.
- When the loading of crude oil from storage has reached 5,000 barrels, production from the Oza-1 well will start in order to allow truck shipments to UPIL to continue.
CALGARY, Alta., May 09, 2022 (GLOBE NEWSWIRE) — Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DLKRF) (FSE: A1U1) (the “Company” or “Decklar”) is pleased to announce the start of the shipment of crude oil by trucks from the Oza oil field to the UPIL crude handling facilities for onward transfer to the SPDC Joint Venture Forcados oil export terminal through the Umugini pipeline.
Oza Field Oil Export Operations
Decklar and its joint venture partner Millenium Oil & Gas Company Limited (“Millenium”) began loading crude oil into trucks at the Oza oilfield from storage tanks for delivery to UPIL crude handling facilities for a later transfer to the SPDC Forcados Oil Terminal export joint venture via the Umugini pipeline.
Trucks are currently loaded from crude oil storage tanks at the Oza site which contain approximately 22,000 barrels of oil. When loading of crude oil from storage to trucks reaches approximately 5,000 barrels, production from the Oza-1 well in the storage reservoir will be restarted to allow for continued truck shipments to UPIL.
As previously announced, the 2022 development plans for the Oza field include:
- the continuation of operations with local communities and contractors for the construction of the access road and associated infrastructure for a new oil well drilling platform;
- drilling of the first new development well;
- re-entry, re-completion and flow testing of the other two existing wells (Oza-2 and Oza-4), including connection to existing production facilities;
- the installation of a central production facility and infrastructure connections for new wellsites to replace the current initial production facility; and
- drilling additional development wells.
Development plans for the Oza field beyond 2022 also include up to five additional development wells.
Duncan Blount, CEO of Decklar Resources, said, “We are very pleased to announce the start of crude oil loading operations at the Oza field, which will soon lead to the company’s first delivery of oil to market. This brings the company to the brink of the important milestone of starting full-time commercial production and transforming Decklar into a production and cash flow company. We look forward to the start of new development drilling activities on the Oza field in the near future and the continued progress of development activities in the Company’s other fields. »
For more information:
Duncan T. Blount
Chairman and Chief Executive Officer Telephone: +1 305 890 6516
Email: [email protected]
Chief Financial Officer Phone: +1 403 816 3029
Email: [email protected]
Investor Relations: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements made and information contained herein constitute “forward-looking information” (within the meaning of applicable Canadian securities laws), including, but not limited to, statements regarding: the restart of production at the Oza- 1 and the timing thereof, timing for the export or sale of stored barrels of oil, future commercial production from the Oza-1 well, the Company’s ability to finalize arrangements with local communities and contractors to begin construction of the access road and associated infrastructure for a new oil well drilling rig, drilling a new development well on the Oza field, the company’s plans for re-entry, re -completion and flow testing of the other two existing wells on the Oza field (Oza-2 and Oza-4), including linkages -in existing production facilities, Soc plans ity for the installation of a central production facility and infrastructure links for new well locations to replace the current initial production facility, potential for 5 new development wells in 2022 and development plans for 2022. All statements in this press release, other than statements of historical facts, are forward-looking statements. These statements and information (collectively, “forward-looking statements”) relate to future events or the Company’s future performance, prospects or business opportunities. There is no certainty that any definitive agreements relating to the Transaction will be entered into, or that any conditions precedent contained therein will be satisfied on terms satisfactory to the parties or at all.
All statements other than statements of historical fact may be forward-looking statements. Any statement that expresses or implies discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, using words or phrases such that “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting “, “intend”, “could”, “could”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that such expectations will prove to be correct and such forward-looking statements should not be The Company does not place undue reliance on, and undertakes no obligation to, update such forward-looking statements, except as required by applicable law . These forward-looking statements involve risks and uncertainties related to, among other things, counterparty risk, changes in oil prices, results of exploration and development activities, competition in the oil and gas industry, uninsured risks, risks related to energy transition, regulatory changes, defaults in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability financing on reasonable terms, availability of third-party service providers, equipment and processes relative to specifications and expectations, and unforeseen environmental impacts on operations. Actual results may differ materially from those expressed or implied by these forward-looking statements.
The Company does not guarantee that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of unforeseen future events, except as may be required under applicable laws. applicable securities.