Operations

Current Presentation
Drilling Through the Stages

of Our Natural Gas Resource

Development Program

 

  • Light Oil and Stacked Resource Play
  • 500 Plus Well Inventory
    • Red Earth multi-year light oil prospect inventory
      • Solid light oil production base at Red Earth - excellent netbacks
    • Deep Basin multi-zone gas play - conventional and tight gas
      • Excellent high potential multi-zone gas prospects at Deep Basin
      • Conventional/traditional large reserve high rate
        • Plus large scale (stacked) tight gas resource play
      • Early and significant success in a scalable opportunity
        • Success in Elmworth, Red Rock plus significant land adds
  • Large Land Base
 
Peace River
Red Earth + Misc
Total Acreage
Gross
120,000
87,000
207,000
Net
86,000
56,000
142,000

       EXCELLENT DRILL BIT DRIVEN PRODUCTION GROWTH POTENTIAL

       Quality property base and large prospect inventory — over 500 drilling locations

  • Red Earth — Working Interest: 25-100% (operated).
    Large exploration/development project High value - top quality light oil property. extensive 3D seismic programs, pipeline and facilities construction, waterflood and waterhandling added contributing to reduced operating costs and excellent netbacks. Drilling Inventory 20-25 wells with high working interest.

  • Deep Basin - Peace River Arch — Working Interest: 30-100% (operated).
    High potential area which Midnight is well positioned in. The balance is controlled by other major Oil and Gas companies. This is a Tight Gas Resource Play with large basin centred gas accumulation continually charged from Paddy/Cadotte to Nikanassin.
    Drilling Inventory 500+ locations with multi-well, multi-zone prospect inventory.




WINTER 2009/2010 PROGRAM
Area
Gross
Net
Winter/Capex $M
Elmworth
$6,000
     Drill & Complete Cadomin HZ
1
0.55
     Completions
1
0.55
     Compression
Red Rock/Bilbo
$5,000
     Drill & Complete Cadomin HZ
1
0.30
     Completions
3
0.90
     Facilities
Chinook Ridge
$9,000
     Drill & Complete Vertical Nikanassin
2
0.75
     Deepen/Re-enter
2
0.90
Base Budget
10
$20,000
Expanded Program
4
$10,000
Total Program
14
$30,000

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