Decklar Resources, Millenium restart oil production onshore Nigeria, provide operational updates

(WO) — Decklar Resources Inc. and its co-venturer Millenium have provided updates regarding oil production and delivery operations at the Oza Oil Field in Nigeria.

Restart of production from the Oza-4 well

Decklar and Millenium restarted production from the Oza Oil Field at a total production rate of approximately 1,300 bopd. The Oza-1 well currently produces approximately 900 bopd of 22 API crude oil on a 20/64 inch choke with wellhead pressure of 400 psi and 2.5% BS&W.

Following successful minor repairs, the Oza-4 well has been opened and restarted with current production averaging approximately 400 bopd on a 24/64 inch choke at wellhead pressure of 1,300 psi with 0.01% BS&W.

Trucking of crude oil to Edo Refinery

Trucking of oil from the Oza Field is ongoing to the ERPC facility in Edo State, Nigeria. Ten trucks are currently in operation and can deliver approximately 2,500 bbls every four days. Additional trucks are expected to be contracted over the next few weeks to increase delivery capacity.

Receipt of funds for first oil sale

Decklar and Millenium have received payment on the first invoice for delivered crude under the 10,000 bbls sale agreement with ERPC. The Company has now issued an invoice for delivery of the first 5,000 bbls as part of the 30,000 bbl sale agreement with ERPC with payment expected in approximately three weeks. With continued production and delivery of crude oil, regular billing and receipts of sales proceeds will occur.