Located at 100/12-04-048-03 W5M and 102/13-04-048-03 W5M, the horizontal wells are expected to be completed using multi-stage fracture stimulations within the next two weeks.
The Calgary-based company expects the water-flood scheme to result in the drilling of a total of five horizontal oil wells in section 4-048-03 W5M, four this year and one next year.
With this, the total number of wells in the section grows to seven, and three out of which will be converted to water injection wells; the first well this year and the next two wells in 2014/2015.
Kallisto has a 30% working interest in the Pembina project, and its share of the project costs is estimated to be about $4.2m.
The firm said current total gross production from the ten Pembina wells is nearly 380 barrel of oil equivalent (Beo) per day, comprised of 323 bbls of oil per day and 343 mcf of gas per day.
Since the beginning of production in November 2009, the ten Pembina wells have produced a total of about 413,000Boe, including 355,000 bbls of oil.
Kallisto is engaged in the exploration, development and production of oil and natural gas in Alberta.
