StockMarketWire.com - NU-Oil & Gas has concluded an Agreement with PVF Energy Services Inc over onshore petroleum lease PL2002-01(A) in western Newfoundland, Canada.

PVF would conduct a work programme, the aim of which was to restore production from PL2002-01(A).

The programme would comprise two phases, with the first phase involving coiled tubing or wireline operations to clean up the well and mill out a physical obstruction in the completion that has been restricting flow.

The well would then be flowed for an anticipated period of 15-30 days to allow for reliable analysis and evaluation of the resulting production.

"Subject to satisfactory results, a rig will be mobilised to site to undertake the second phase of the Work Programme, which will include recompletion of the well and installation of an appropriate artificial lift system," the company said in a statement.






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