PULSE OIL OPERATIONS
The Pulse Team is excited to be reactivating wells and growing cash flow from this 100% owned oil and gas asset, in preparation for the next step, funding and carrying out Pulse’s Enhanced Oil Recovery (“EOR”) program.
BIGORAY
Bigoray: Implementing Proven Technology
BIGORAY PINNACLE REEFS
50+ isolated reservoirs in Pembina / Bigoray trend, average 1-2km across, 100m thick, 38ºAPI(1)
Schlumberger’s geotechnical modelling concludes Pulse’s Nisku D and E pools are technically analogous to surrounding offset pools:
- DPIIP of 33,519 mbbl estimated by Schlumberger(2)
- 28% recovery factor (9.4 million bbls of light and medium oil) produced to date on water flood alone, consistent with waterflood recovery of analogous area pools
- 82% recovery factor (18 million additional bbls of contingent resources defined as light and medium oil)(1) (2): average of 7 pools within 15-mile radius of Pulse’s two pools after miscible floods
- With the support of Pulse’s independent third party analysis and modelling results, previously news released, Pulse feels that with adequate funding, we can increase production by large multiples of Pulse’s current production through a low-risk and proven EOR program.
Enhanced Oil Recovery: Successful Technique
EOR PROCESS
- EOR involves the process of increasing the amount of recoverable oil from a reservoir by injecting a substance into an existing oil pool to swell the oil and reduce its viscosity, allowing “stuck oil” to flow more easily towards the producing wells
- At Bigoray, Pulse will inject an NGL product into the top of the reservoir. Once a 10m bank of NGLs has been created, injection will switch to natural gas to push the NGL bank down through the reservoir. Oil will be continually produced from the bottom of the reservoir throughout the process
Bigoray Area Recovery Factor (RF) Mapping(3)
Analogous pools have an average productive life of ~40 years and an average recovery factor of 82% after implementation of solvent flood EOR projects(3)
(1) Source: Alberta Energy Regulator at https://www.aer.ca/providing-information/data-and-reports/statistical-reports/reserves-data; AER Pool Data Relevant to December 31, 2017. See Analogous Information section.
(2) Based on Pulse’s internal qualified reserve evaluators and the Schlumberger Report consisting of Bigoray Nisku D and E Pool EOR Studies: Geological Analysis Report (FMI/Core) dated July 2018, Petrophysical Analysis Report dated July 2018, Phase 2- Discrete Fracture Network (DFN) Modelling dated December 2018, Phase 2- Geo-modelling dated December 2018, and Solvent Injection Study dated March 2019. See 2019 Resource Estimates section for corresponding low and best case estimates of contingent resources. Please refer to Disclaimer – PulseOil (pulseoilcorp.com) to read our Forward looking statements and resource estimate definitions.
(3) Source: Alberta Energy Regulator at https://www.aer.ca/providing-information/data-and-reports/statistical-reports/reserves-data; AER Pool Data Relevant to December 31, 2017, geo SCOUT. See Analogous Information section.