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As of 10:26 AM 06/23/15 All times are local (Market data is delayed by at least 15 minutes).

wellstar energy corp (WSE) Snapshot

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wellstar energy corp (WSE) Details

Wellstar Energy Corp. operates as an oil and gas company. The company produces oil and gas. It has interest in non-operated oil and gas assets located in North Dakota and Montana. The company was incorporated in 1985 and is based in Vancouver, Canada.

Founded in 1985

wellstar energy corp (WSE) Top Compensated Officers

Chief Executive Officer, President, Non Indep...
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

wellstar energy corp (WSE) Key Developments

WellStar Energy Announces Results from Leduc Area Development

WellStar Energy Corp. announced results and development plans from its successful re-entry program recently completed in the Leduc area of west-central Alberta. On January 16, 2015, the company re-entered its operated 35% working interest Mannville oil well. The purpose of the successful re-entry program was to test a potentially productive upper bypass zone in the Glauconitic Manville formation (Test Formation) and if proven productive; comingle this Test Formation with existing Manville production and develop a comprehensive horizontal drilling program for the newly tested zone. The production testing has indicated virgin reservoir pressure with recovery of light oil and solution gas. The company is in the process of developing a comprehensive horizontal drilling plan. Production equipment has been run in order to establish a steady short term production test. Test production rates from this vertical wellbore demonstrate the Test Formation is an excellent candidate for horizontal drilling and were approximately 6 bbls/day (2.1 bbls/day net Company share) of emulsion and approx. 1.5 E3M3/Day (1.8 bbls/day of oil equivalent using 10:1 conversion factor) of solution gas. On March 13, 2014, a service rig was mobilized to comingle the test zone with the existing Manville zone where the company expects a combined production rate of approximately 15 boepd (5.25 boepd net). The company may reactivate its currently shut in Lower Manville natural gas zone (Gas Zone) in the same wellbore when commodity prices improve. The Gas Zone was perforated and tested in 2008 at a rate of approximately 750 mcf/d (262.5 mcf/d net), 75 boepd (26.2 boepd net) of gas using 10:1 gas to oil ration. Due to the success and characteristics of the test formation, WellStar's technical team is designing a multi-well horizontal development program that would allow the Company to possibly drill up to 4 gross wells per section, extending over several sections with working interests ranging from 35%-70%. Leased mineral rights directly offsetting the producing well are prospective for the same zone completed and/or producing in the Company's well. WellStar currently holds approximately 5,147 net acres of mineral rights (operated) in the Leduc area of west-central Alberta. The Company's Mannville production is pipeline connected to a regional gas gathering system for processing. Produced fluids are trucked to a nearby 3rd party custom facility for processing and water disposal. This area exhibits multi-zone oil & gas production from the Leduc, Nisku, Wabamun, Mannville and Viking formations.

Wellstar Energy Corp. Appoints Christopher P. Cherry as Chief Financial Officer

Wellstar Energy Corp. announced that Mr. Christopher P. Cherry will assume the role of Chief Financial Officer ("CFO"). Mr. Cherry has over 14 years of corporate accounting and audit experience. Mr. Cherry has extensive corporate experience and has held senior level positions for several public mining companies including Director, Chief Financial Officer, and Secretary. Mr. Cherry replaces Mr. Minaz Dhanani as CFO.

Wellstar Energy Corp. Announces the Resignation of Arthur Carl Riese from the Board

Wellstar Energy Corp. announced that Mr. Arthur Carl Riese has resigned from the Board of Directors of the Company.


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