Lux Energy Latest News
OTC BB: LUXE
November 9, 2009 Pump Results
Lux Energy Corp Receives Results from Pumping Test
In a recent news release, Lux Energy Corp. announced the production results for the C well located in West Central Alberta. In addition, the Company stated that the operator had recommended that pumping equipment be installed to enhance recovery from the reservoir.
The pump equipment was installed and the 24 hour test period records the following;
Currently oil production is at 40 – 44 bbls per day. The well has shown a decline of less that 10% since installation to present. The operator advises that this is a normal result. Natural gas production continued throughout the test period at 175 mcf.
In summary, the pump recovery project including natural gas has had a significant result. The C well recovery has increased from 32 BPOE to 56 BPOE per day, an impressive 75% upside.
Shane Broesky, President, comments that the well performance certainly warrants further acquisitions in this area and Lux will pursue increased holdings
The President also advises that the operator has informed Lux on the D well status . The D well is expected to be at total depth, completed and tied into production facilities by December 15, 2009. D will be completed in the same area as the C well.
A copy of the filed information can be found for viewing by electronic means by viewing the Company's filings on www.edgar.com.
Lux Energy Corporation
Lux Energy is an oil and gas production, acquisition, and production company focusing on developing oil resources in North America.