Artek Exploration Ltd. is pleased to provide the following operations update:
Late in fourth quarter, 2013 Artek drilled a successful Montney horizontal well from the 10-17-87-23W6M pad in the
Inga South area. The well was completed with a total of 31 fracture intervals using a slickwater hybrid frac treatment.
After a 140 hour clean up and production test period, the well was flowing at a stabilized average rate of 1.7 mmcf/d
and 503 bbls/d of free condensate or 794 boe/d (63% C5+) over the 102 hour period subsequent to drilling out the
packers at a flowing pressure of 389 PSI with approximately 80% or 8,800 m3 of load water left to recover. The
Company is very pleased with the high liquids rate from the well with yields of free liquids ranging from 214 to 289
bbls/mmcf throughout the test period representing some of the highest in the Montney development fairway. In
addition, another 45 bbls/mmcf of liquids is anticipated at third party natural gas processing facilities from the
Montney natural gas stream which is some of the richest or highest heat content natural gas in the basin. Although
these are early stages in Artek’s Montney exploration plan, management believes parallels can be drawn to the high
liquids recoveries being realized from Montney wells in the Tower and Blueberry areas in British Columbia.
Artek and its partner continue to increase their landholdings in the Inga/ Fireweed area, bringing total Montney
mineral rights to over 88,750 (52,400 net Artek) acres or approximately 133 (79 net Artek) sections. Artek operates
the lands with approximately a 58% average working interest.
In other operations, the Company’s first Inga South liquids rich Doig well of the 2014 year reached total depth in mid-
January and will be completed using a 30 interval slickwater frac completion and results are currently anticipated by
mid-February. In addition, Artek has reached total depth on its first 2014 horizontal well in the Mulligan area targeting
upper Charlie Lake oil with the completion also scheduled for the first two weeks of February.
Artek anticipates releasing its 2014 guidance numbers during the first week of February.
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