Petro-Reef operates two core properties: Alexander/Qui Barre, which accounts for about 88 percent of production, and Peavey/Morinville, which, together with minor working interest and royalty properties, accounts for about 12 percent of production.

Petro-Reef's principal asset is a working interest of 34 percent to 84 percent in approximately 25.7 sections (16,448 gross acres) in the Alexander/Qui Barre area near Edmonton, Alberta, Canada.