Pulse Oil Corp. Announces EOR Injection Now Underway

VANCOUVER, British Columbia, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Pulse Oil Corp., (“Pulse” or the "Company”) (TSXV: PUL) is pleased to announce that the Company has continued to advance operations in its primary asset, the Bigoray Enhanced Oil Recovery Project.

Pulse announced today that it has safely completed all on-site construction, solvent storage, commissioning, regulatory approvals and has now started injecting solvent into its Nisku D Pinnacle Reef, the first of two reefs owned 100% by Pulse, located in the Bigoray area of Alberta, Canada.

Pulse’s EOR program is designed similarly to other successful Enhanced Oil Recovery (“EOR”) projects completed in the nearby area, however using the newest technology and a full-field modelling characterization study completed by world leading independent experts.

Pulse’s Nisku-D pool EOR program is designed with the goal to increase reserves, production and cashflow significantly in 2023, allowing Pulse to further fund the EOR injection in Pulse’s 100% owned 2^nd reservoir in the area (Nisku E-pool), providing further increases to reserves, production and cashflow over the coming years.

Pulse’s CEO, Garth Johnson commented “Our team has stuck together over some very tough times the last few years but we never lost sight of getting this EOR project underway. The team has accomplished a lot, we appreciate all the support we’ve received from shareholders and we are looking forward to delivering the results that we expect from this program.”

About Pulse

Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company plans to institute a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse’s total reclamation liabilities are just $2.46 million which, when compared to many peers in the industry in Western Canada, are very low.