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NEWS BULLETIN

August 04, 2016 --- Vol. 22, No. 28August 2016

Placer No. 3 results seem promising

ASRC Exploration LLC is hinting at successful results at its Placer No. 3 well.

In a request to extend the terms of the Placer unit, the subsidiary of Arctic Slope Regional Corp. told state officials that the recently completed well "confirmed extension of the Placer reservoir beyond the central Placer No. 1 location." ASRC provided another small glimpse into its well results by telling the state that it intended to apply for the Placer No. 3 well to be certified of capable of producing hydrocarbons in paying quantities.

The company drilled the Placer No. 3 well between January and March of this year, after more than a decade of first pursuing the prospect south of the Oooguruk unit.

- ERIC LIDJI

See story in Aug. 14 issue of Petroleum News, available online Friday, Aug. 12, at www.PetroleumNews.com

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