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
|
|
