Alexander/Qui Barre

• Approximately 35 gross (29 net) sections

• 78 percent average working interest

• Operated

• 65 percent Freehold lands (lower royalties vs. Crown)

• Multi-zone exploration and development oil and gas potential

• Achieved 67 percent drilling success in 2007

 

Activities 2008

• High impact natural gas locations combined with low risk development oil
locations

• 40 follow-up oil locations based on exploration success

• Four oil zones identified and tested

• Five oil well drilling program scheduled for balance of 2008 to delineate size of opportunity

• Existing infrastructure can manage incremental growth

• 5,000 bbls/d oil facility
• 12.0 mmcf/d gas capacity