March 2016 Quarter Performance Summary
Southern Cooper Basin Gas Project
- Record gas flow rates achieved.
- Rapid build in gas rates limited by pump efficiency not reservoir performance.
- Construction and commissioning of upgraded and enhanced production systems at Klebb 1, 2 and 3 nearing completion.
- Klebb 4 completion and deployment of an electrical submersible pump on track.
Strong Funding and Commercial Position
- Cash on hand of $4.4 million at the end of the quarter combined with the $6.7 million from the recently completed placement means the Company is well funded to quickly progress our production testing program beyond threshold commercial gas flows.
- Design and cost proposals by leading engineering contractors for the Demonstration Facility progressing in a co-ordinated manner with field activities.
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