Octagon 88 Resources Inc (OCTX) and CEC North Star Energy Ltd are pleased to announce the coring activities on the planned Elkton Erosional edge well was successfully completed reaching a total depth of 480 meters. The cores taken have been transported to AGAT Laboratories in Calgary, Alberta for analysis.
The Elkton Erosional edge cores have been transported to AGAT Laboratories in Calgary, Alberta for analysis. (Photo: Business Wire)
“We have verified after viewing the core samples and well logs what was initially expected, thus being geologically unique as to the presence of unconsolidated oil sands at the edge of the consolidated limestone carbonates holding even larger quantities of oil. Validation of these results is underway in AGAT Labs. The company has reached a game changer.”
- CEC North Star Ltd. - Technical Team
The company intends on having these cores tested in AGAT laboratories to confirm the properties of this dolomitic highly oil saturated limestone deposited in a carbonate environment. From the extensive well control information (including positive reviewed cores studied in the area) the geological study was able to establish the sweet spot. The well site finding has established 20 meters of oilsands pay zone with the well logs indicating porosity values up to 18%, whereas the industry minimum porosity required for production is 8%. The consistency of the sands through the pay zone were 100 percent complete with no water present which when confirmed at AGAT labs, the company would have a second primary production project in parallel to the prior announced successful Bluesky-Gething project. The first 2 projects combined will target scaled development possibilities of 50,000 barrels a day of conventional heavy oil production beginning this year.