Tuktu Resources Ltd. ("Tuktu" or the "Company") is pleased to provide an operational update on its current field operations.
Tuktu commenced drilling operations and spud its first horizontal well on February 2, 2025. Drilling was completed, and the rig was demobilized on February 21, 2025. This rig has been contracted by another area operator. Aggregate drilling costs are anticipated to be approximately $3.0 million.
Drilling operations went smoothly, despite very cold weather. The scheduled fracture stimulation has been delayed due to crew availability and is now expected to commence in mid-March. Potential road bans, due to the continued warm weather, could further delay the timing of the fracture stimulation program.