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[QUOTE]Originally posted by MoneyHoney: [QB] Location: South Eastern Alberta, Canada Land Holdings: 18 sections or 11,500 acres Interest: 49% initially, up to 51% over 2 years Potential # of Wells: 72 Proved + Probable: Over 8 Billion Cubic Feet Potential Value: $67 Million After Initial Development Timeline: 15 Wells planned The Norex Energy Alberta Project targets one of the few undeveloped gas fields in Alberta. The area is extremely sensitive to leasing issues. As leasing negotiations are currently underway this will not currently identify specific areas or formations. Norex Energy has identified Hydrocarbon potential in 5 formations including one that has shown oil producing potential by an oil reserve in close proximity. Norex Energy aims to develop the land package and gas processing facility along with related pipeline infrastructure connecting to an EnCana hub. Norex Energy will then plans to execute drilling, recompletion and pipeline strategy to prove up over 8 billion cubic feet of Natural Gas. The Asset includes: One Natural Gas Processing Plant built in 2004. Processes sour gas by non regenerative solution, sweet gas compression, metering, and water storage. Five Natural Gas Pipelines Six inch pipeline connects to EnCana trunk line and extends towards a three well tie-in. Eighteen Sections of land or approximately 11,500 acres containing recoverable reserves in excess of 8 billion cubic feet. Three-well farm-in with a Canadian major to bring on-line approximately 2000 Mcf/day of Natural Gas. An Opportunity to earn up to a 75% Net Revenue Interest in the wells before payback and a 50% net revenue interest after payback. One of these wells is planned for tie-in during the first phase of project development. [/QB][/QUOTE]
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