Peace River light oil found at Puskwa, Alta.

Galleon Energy Inc., Calgary, plans to develop a light oil discovery near Puskwa, east of Grande Prairie, Alta.The 16-32-71-26w5m well flowed 2,559 boe/d, 90% 38° gravity oil, through a 10.32-mm choke from 33 ft of Devonian Beaverhill Lake oil pay with 14% weighted average porosity. Reservoir pressure drawdown was 10% during the test. TD is 10,354 ft.Logs indicated that three other formations including Devonian Granite Wash are gas bearing. The zones have not been tested.Granite Wash flowed 2.7 MMscfd of sweet gas and 75 boe/d of condensate at a previous well 3 miles northeast.Galleon will drill at least 10-12 wells to delineate the pool and contracted two rigs for continuous drilling...

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