PROPERTIES:
Aerial, Alberta (T29 R18 W4),
Aerial is Liberty's core producing area and is situated 10 miles east of Drumheller. Liberty's average daily production for the Aerial area is 450 BOE/D (20% oil and 80% gas).
Liberty's plans for 2000 include the installation of a refrigeration plant to extract natural gas liquids from the re-injected solution gas, the re-completion of an existing well in an uphole gas zone to increase gas production and the drilling of up to 3 new wells for incremental oil and gas production.
To view some of the Aerial Property Pictures, please click on "Aerial, Alberta".
Provost, Alberta (T37 R11 W4),
During 1998, Liberty and its partners developed a Lower Manville gas pool in Provost with the drilling of 8-16-37-11W4(Liberty 77% WI). The 8-16 well flowed at a rate of 1 MMcf/d (100 BOE/D) on an extended flow test. The 8-16 well is currently being tied in and is expected to be on production by the end of February 2000.
Through farmins and Crown land sales, Liberty has acquired a 47.5% interest in 5ó sections in the Provost area. The Company plans to drill a well on the Provost lands in the first quarter of 2000.
Fosterton, Saskatchewan (T17 R18 W3),
Fosterton is a Roseray sandstone medium oil prospect (22ø API) in southwestern Saskatchewan. Liberty is the operator and has a 70% working interest. The Company carried out a test program during September and October of 1999 on 6 suspended oil wells in the Fosterton field to confirm the economic viability of resuming continuous production operations. The Company was pleased with the test program and is in the process of installing permanent production facilities which it expects will be operational by the end of January 2000 at a production rate of 170 BOE/D (120 BOE/D net to the Company).
Ingoldsby, Saskatchewan (T3 R31 W1),
Ingoldsby is a Frobisher light oil prospect (30ø API) in southeastern Saskatchewan. Ingoldsby is expected to be an important area for Liberty in 2000. The Company has interests ranging from 23.25% to 38.75% in 3 producing wells in the pool with current net production of 38 BOE/D. A six square mile 3D seismic program shot in 1998 indicates that there are 2 to 4 horizontal drilling locations on the Liberty lands on 80 acre spacing.
Eyehill, Saskatchewan (T40 R 28 W3),
Eyehill is located just east of the Alberta/Saskatchewan border, 50 miles south of the city of Lloydminster. Oil production is obtained from the Sparky and Dina formations. Liberty has a 19.4% working interest in 23 producing wells in the non-operated Eyehill field. Liberty's net daily production is 100 BOE/D.
Liberty intends to conduct a comprehensive technical review of the Eyehill area in 2000 with a view to optimizing the Company's assets in the Sparky and Dina formations. |
