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Pulse Oil Corp. announces second well drilling operations completed at Queenstown Light Oil Field

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Suite 500, 666 Burrard Street
Vancouver, BC
CA, V6C 3P6

Website:
pulseoilcorp.com

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Pulse Oil Corp. announces that on December 27th, 2018, drilling of Pulse's second exploration well, PUL HZ QUEENSTN 12-9-19-21 W4 ("12-9"),  reached a total measured depth, as planned, of 2957m (TVD 1389m), including 1237m of lateral section within a highly porous Mannville-aged Lithic sandstone channel. The 12-9 well was Pulse's second well successfully targeting a new 3-D seismic interpretation intended to focus on the highest porosity / permeability lithic deposits within the Mannville channel trend in the Queenstown area of Southern Alberta.

This second Pulse well took just seven days to complete drilling operations, well ahead of the forecasted drilling curve and budget. Wellsite drill cuttings examination estimated that over 94% of the lateral section was comprised of good to very good reservoir rock, with porosities estimated up to 18% and averaging over 12%. High gas readings and visible oil staining were encountered throughout the entire lateral section. The Nabors #28 drilling rig was immediately released and multi-stage frac operations were completed on both wells as planned December 28th-29th.  The wells are expected to be completed and tested in January with new production established immediately in 1st Quarter 2019.

Pulse President, Drew Cadenhead, commented "Our second well in this Queenstown program looks like another good one based on the data we have accumulated while drilling. We have drilled over 1200m of horizontal section through very high quality reservoir rock. Our gas readings were very encouraging throughout the lateral drilling and visible oil staining and petroliferous odours were noted the entire length of the lateral section. Our new seismic interpretation has definitely put us into the high porosity lithic sandstone section we were hoping for. We have eight more locations identified in this newly discovered trend, we're excited to complete and test these first two wells and be able to get on with the rest of the program."

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