The PaP#1 well which produced over 2,000 barrels per day when initially drilled was followed by two sidetracks from PAP#1, the second of which (ST#2) produced oil at the rate of 200 barrels per day during tests. Prior to re-entry in January 2007, production tests from Garden Hill Field produced over 22,000 barrels of oil.
In January 2017, our wholly owned subsidiary, Enegi Oil Inc. entered into a 5 year profit sharing agreement with PVF Energy Services Inc.(PVF). Under this agreement PVF will fully fund a work programme to restore production and will cover 100% costs of ongoing operations in exchange for 50% of revenues, following recovery of its costs in accordance with the agreement. Nu-Oil remain 100% owner and operator of PL2002-01(A).
In August 2017 the lease was extended until 11 August 2022 by the Department of Natural Resources of the Provincial Government of Newfoundland and Labrador.
Updates regarding the licence extension, profit sharing agreement and work programme are available in our Regulatory News section.