A change-over to new, upgraded production facilities, which caused a temporary drop in production during conversion, have also been completed, Orchard said.
The company said plans were now underway for new drilling and stimulation programs to start early in the new year, with production targeted at over 1,000 barrels of oil per day by mid-2006.
“We still have up to four wells to stimulate before we reach maximum production,” executive chairman Steve Graves said.
“Planned new drilling early next year will continue our growth as these new wells are stimulated and put on production.”
A drill rig has been sourced and contracted for this work, Graves said.
Meanwhile, current gas sales of one million cubic feet per day are well above the original forecast, according to Orchard.
Orchard, the project operator, has a 25% interest in the South Belridge project. Maxim TEP holds a 75% interest and funds 100% of the first US$ 28 million of development capital for the multi-well drilling program.