PetroShale Inc. announced initial results from its first operated well, and its participation in three recently completed non-operated wells, all situated within the North Dakota Bakken /Three Forks play. The company operated drilling spacing unit, in which PetroShale has a 73% working interest, is immediately adjacent to an industry record Bakken well completed in 2015 by EOG Resources. EOG's adjacent well, in which PetroShale has an 18.8% working interest, has produced over 635,000 boe during its first 18 months of production. PetroShale's 8H operated well was completed and commenced production testing on December 31, 2016. The company employed a high-intensity completion method, completing 30 fracture stages. The company is pleased with initial well test production rates of 2,500 to 3,000 barrels of oil per day (bopd). The well continues to flow naturally, without artificial lift, and is currently stabilizing between 1,100 and 1,400 bopd (880 to 1,120 bopd net of royalty). The company experienced mechanical issues with drilling out the stage packers after facing and as such, the well is only producing from an estimated 9 of 30 stages. The company will continue to produce the well and once down hole pressures have subsided the company will evaluate drilling out the remaining packers to produce from more of the completed stages in the wellbore. In addition, three non-operated wells were recently completed in a DSU operated by EOG in which PetroShale has a 24.7% working interest. The three non-operated wells are currently tied in and producing, in aggregate, approximately 5,600 bopd (1,400 bopd PetroShale working interest; 1,120 bopd net of royalty) from the Middle Bakken and Three Forks formations.