Diaz announces that it has been placed on notice for five Lloydminster
development wells and updates operations to date
The proposed wells are to be drilled into the northwest quarter of section 18-48-1 W4 (see attached map) which appears to be in a structurally favorable portion of this oil pool. The wells will be initially drilled by Harvest after which Diaz will resume the role of operator.
In addition, Diaz has completed drilling operations and commenced production from three new horizontal wells in this pool.
The most recent well, 2-18-48-1 W4, was drilled horizontally 450 meters in the Lloyd formation and is currently producing 50 Bopd (25 Bopd net). This well is structurally the lowest of the four wells drilled in section 18-48-1 W4.
The previously drilled horizontal well at 15-18-48-1 W4 was brought on production
The first well drilled in the program by Diaz, 6-18-48-1 W4, came on production
The initial well on the property 11-18-48-1 W4, came on production in
Diaz is operator of the four wells and holds a 50% working interest.
Please refer to the map of well locations, as attached, or at Diaz's website as follows: http://www.diazresources.com/documents/20100112-Lloydminster-well-map.pdf
Diaz is an oil and gas exploration and production company based in
ADVISORY: This press release contains forward looking statements. Although Diaz believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Diaz can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
The forward looking statements contained in this press release are made as of the date hereof and Diaz undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
NEITHER THE
For further information: Robert W. Lamond, Chairman - or - Donald K. Clark, Chief Operating Officer, DIAZ RESOURCES LTD., Telephone: (403) 269-9889, Fax: (403) 269-9890, Website: www.diazresources.com, Email: [email protected], TSX: DZR
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