Operations
Since completing its Qualifying Transaction in 2002, the Company has increased its land holdings to where it currently owns the following:
- An 85% interest in 4,480 Gross acres of P & NG leases in Joffre, Alberta, with 9 wells on production; See “Description of the Business – Oil and Gas Properties – Joffre Property;
- An 80% interest in 31,999 gross acres of P&NG leases in the Preeceville/Endeavour region of east-central Saskatchewan;
- In July 2009, the Company entered into a strategic development agreement with an international oil company whereby the Company acquired an interest in six and-a-half townships – approximately 138,000 acres - of land in Endeavour, Saskatchewan. The ensuing exploration work on the lands will result in the other company having the option to participate on a 50-50 go forward basis with the Company, or allow the Company to retain a 100% interest in the land with the other company earning a Gross Overriding Royalty;
- A 100% ownership position in three sections of land consisting of approximately 1,920 acres, in the Talbot Lake area of the Peace River Arch region of northwestern Alberta. The Company filed a continuation application to have the three sections continued and this was approved in February 2011;
- A 33 1/3% interest in 1,080 Gross acres of P & NG leases in Lloydminster, Alberta. See “Description of the Business – Oil and Gas Properties – Lloydminster Property”, with 15 wells on production; and a 100% interest in the natural gas rights to a section of land - 4-50-3-W4M;
- A 50% interest in 9,528 acres of coal leases in Drumheller, Alberta. See “Description of the Business – Oil and Gas Properties – Drumheller Property”.
- Acquired seismic option in the Weyburn/Bakken Region of south east Saskatchewan; 4 drilling locations identified, with test well to be drilled in Q4 2011; acquired a further 320 acres one mile from original acquisition.
Producing Properties
Exploration Properties
