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Pulse Oil Corp. Announces 3D Seismic Acquisition for Pulse’s Queenstown Assets


CALGARYJuly 9, 2018 /CNW/ – Pulse Oil Corp.  (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) announced today that Pulse has purchased a 50-year seismic data license for a Queenstown specific 3D seismic data set ( the “Milo 3D”) covering 15,360 acres (62 sq km’s) encompassing  the core of Pulse’s Queenstown assets targeting light sweet oil.

As with the acquisition recently of the Bigoray 3D seismic data set, this most recent acquisition is critical for Pulse’s Queenstown drilling program consisting of at least 20 drill-ready prospects, with the first well planned for Q4 2018. Cash flow from current production is anticipated to fund these operations.

The Milo 3D seismic data set was recently tested with Pulse’s advanced Amplitude vs. Offset (AVO) work that tied in accurately, the seismic data to the “sweet spots” in its existing horizontal wells. This work led to the identification of eight high-graded development locations, all targeting the interpreted highest porosity and permeability sections of the light oil-prone Glauconite Lithic Channel trend previously discovered on Pulse’s land.

Pulse President, Drew Cadenhead, commented, “This was a critical acquisition for us as we have seen the benefit of the AVO work we performed on the Milo 3D earlier this year. Now that we have unlimited access to the data for the future, we can use the seismic and AVO work to directionally drill in the most prospective reservoir rock throughout the entire horizontal portion of our wells. We are pretty excited to use this new AVO data to steer our wells right down the heart of the sweet spots and build a successful long-term light-oil growth opportunity for Pulse at Queenstown.”

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About Pulse Oil Corp.

Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) and has plans to become a leading oil and gas company. Pulse owns 100% interests in the Bigoray area of Alberta, that include two Nisku oil Pinnacle Reefs as well as 100% interests in producing assets in the Queenstown area of Alberta. Pulse is moving forward to grow production and execute an Enhanced Oil Recovery project to unlock significant value for shareholders through control of approximately 65 net sections of land across the Mannville, Cardium, Pekisko/Shunda, Nisku and Duvernay Shale trends in Western Canada. Pulse will also continue to focus on acquiring affordable, small to medium sized proven oil and gas assets with significant upside. The Company plans to achieve further growth through low-risk, technically diligent drilling, infrastructure ownership and reserve growth utilizing proven enhanced oil recovery techniques and implementation of technology.

Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has neither approved nor disapproved of the contents of this press release.

READER ADVISORY

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.  Such statements include, without limitation, statements pertaining to Pulse’s expectations related to the planned operations and anticipated results related to the Queenstown assets, including the anticipated timing to drill and conduct its planned operations. Statements relating to “reserves” are also deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the reserves can be profitably produced in the future.

The forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effect on the Company based on information currently available to management. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Pulse will be those anticipated. Statements in this press release containing forward-looking information include but are not limited to the Queenstown project, its planned development and Pulse’s operations.  Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Important factors that could cause actual results to differ materially from those in the forward looking statements include, but are not limited to: the volatility of commodity prices, product supply and demand, competition, access to and cost of capital, the assumptions underlying production forecast, the quality of technical data; environmental and weather risks, including the possible impacts of climate change, the ability to obtain environmental and other permits and the timing thereto, government regulation or action, the costs, timing and results of drilling operations; the availability of equipment, services, resources and personnel required to complete the Company’s planned operating activities; access to and availability of transportation, processing and refining facilities, acts of war or terrorism; and general economic conditions and other financial, operational and legal risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Pulse Oil Corp.



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