RE: EDG16 Jul 2014 12:35
Previous drilling and seismic work uncovered additional, undiscovered oil pools on the Company’s 100%-owned land in the municipality of Eye Hill, Saskatchewan. During December 2013, the Company drilled a four-well program on those lands to further delineate the pools and define the true extent of the significant value of the reserves held in these new pools. Based on the results of this successful drilling program, the Company expects to drill several
MD&A contd;
additional developmental wells, which could extend to more than 85 locations across the new pool discoveries. The Company is encouraged by the better-than-expected production results from the recently-drilled wells; thus, current corporate drilling plans will be focused on the low-risk, high-return opportunities offered on our existing 100% owned oil-prone land-base in Saskatchewan. Building on the successful drilling program, management will continue to utilize the tactics that have led to the Company’s success and apply the operational and technical expertise to the existing portfolio of oil properties, with a specific focus on drilling in Eye Hill.