BlackPearl Resources Inc.



Onion Lake, Saskatchewan - Primary Production


KEY FACTS

2P Reserves4.7 MMbbls
(Dec. 31, 2017)

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Best estimate risk adjusted
contingent resources
1.0 MMbbls
(Dec. 31, 2017)
Recent Production 1,917 barrels per day
(Q4 2017)
Production Potential2,000 bbls/d



Since 2006, BlackPearl has drilled over 300 conventional (CHOPS) primary wells on the Onion Lake property. As a result of low oil prices, new conventional drilling activity at Onion Lake in 2017 was limited with only five gross (2.5 net) wells drilled.

During 2017, BlackPearl produced an average of 2,022 bbls/d at Onion Lake from conventional primary production wells (BlackPearl's working interest, before royalties), primarily heavy crude oil with an API gravity between 10° and 11°. As at December 31, 2017, there were 49 heavy crude oil producing wells on the property. Production from the Onion Lake area is currently trucked to third party processing facilities or pipeline and rail terminals.

At December 31, 2017, Sproule Associate Limited assigned proved plus probable reserves of 4.7 MMbbls to the Onion Lake conventional primary operations (BlackPearl's working interest, before royalties).

At December 31, 2017, on a risked basis, Sproule Associates Limited assigned 1.0 million barrels of contingent resources (best estimate) to the Onion Lake conventional primary operations (BlackPearl's working interest, before royalties).

For additional reserve and contingent resources information see the Company's Annual Information Form on our website.  



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