ORLANDO, Fla., Oct. 21 2011 /PRNewswire/ -- Quad Energy Corp.
(OTC-PK: CDID) is pleased to announce that the optimization team
has identified 12 wells of the 38 wells in the Cave Pool Unit that
require a minimum maintenance program which will include pump
changes or tubing repairs.
Upon completion of this program the 12 wells should be capable
of close to 50 barrels per day of oil production and 200 mcf of gas
without any further stimulation. Based on the 50 barrels per day
production on the 12 wells the company should be able to realize
$ 360,000.00 per quarter in revenues
based on $ 80.00 per barrel.
However, if Quad Energy is to follow what other companies in the
area have been accomplishing i.e. Clayton
Williams, COG, and Cimarex, with a stimulation program using
perforating and fracturing of the existing well bores, the
economics are greatly enhanced.
These companies are seeing production increasing 5-50 barrels of
oil per day from each well, with production holding steady for 6 to
8 months before declining to 10 to 15 barrels per day of
production.
The company is planning a stimulation and fracturing program to
increase production from 50-500 barrels a day this could give Quad
Energy Corp a quarterly oil production of 45,000 barrels on 12
wells.
If the price of oil holds at $
80.00 per barrel this would give the company a possible
quarterly cash flow of $ 3,600,000.00
for 12 wells.
Future plans are to work over the remaining 26 well bores.
About Quad Energy Corp.
Quad Energy Corp. is an independent junior oil and gas
exploration, development and production company headquartered in
Orlando, FL. The company is
duly incorporated in the State of
Nevada. The company's common shares are listed for
trading on the electronic over the counter pink sheets (OTC-PINK)
market in the United states and trades under the symbol "CDID"
Contact us:
Quad Energy Corp.
3208 C East Colonial Drive
Orlando FL
32802
403 581-3351
info@quadenergycorp.com
For information please visit our website:
www.quadenergycorp.com
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are
forward-looking statements within the meaning of the Securitas Act
of 1933, as amended. Those statements include statements
regarding the intent, belief or current expectations of the company
and its managements. Such statements reflect management's
current views, and are based on certain assumptions and involves
risks ad uncertainties Actual results, events or performance may
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SOURCE Quad Energy Corp.