Planned to be drilled to a measured depth of 2,500m using Foragaz No. 4 drilling rig, the well targets open, near-vertical, natural fractures within the Forillon oil reservoir, including any porous hydrothermal dolomites.
The well drilling also represents the first of a series of horizontal exploration wells planned to be drilled as a follow-up to the company’s oil discovery in Galt No. 4 horizontal well.
During production testing, the oil production rates at the Galt No. 4 horizontal well recorded at more than 300 barrels of oil per day.
Junex president and CEO Peter Dorrins said: "In our Galt No. 5 horizontal well, we are building upon the successful well design implemented in our Galt No. 4 Horizontal oil discovery well.
The company plans to acquire detailed 3D seismic data to help optimally identify the next two wells, the Galt No. 6 and No. 7 horizontal wells as well as other potential horizontal wells on the property.
"We also intend to conduct further operations and production testing in our Galt No. 4 Horizontal well," Dorrins added.
Junex owns 70% interest in the Galt oil property.
