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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Cal Gary who wrote (14840)	3/12/2010 11:45:03 AM
From: johnlw	Read Replies (1) \| Respond to of 24921

The small amount of DD I did left me feeling the quick money had been made on the Cardium. As my postings here have shown my longer term predictions on the market is abject at best. 450 BOE is a pretty nice well in this neck of the woods. I suppose the royalty review will have a positive effect on these new wells. (I hate the backtracking these buffoons do btw.) Must be pretty pricey to drill and complete? O/T AGU was an absolute overnight monster

To: Cal Gary who wrote (14840)	3/12/2010 11:48:30 AM
From: Cal Gary	Respond to of 24921

A Takeover target ?? 18.6 million shares outstanding and From Bonterra's website: Pembina is Bonterra’s main property. It is the Company’s largest producing asset and represents 83.7 percent of total reserves. Production in Pembina is primarily oil and solution gas from the Cardium formation and to a lesser extent natural gas from the Edmonton Sands with the remainder coming from the Belly River, Paskapoo and the Ardley Coals. The Pembina Cardium field is the largest conventional oil field in Canada with estimated original oil in place of 7.8 billion barrels with an average recovery to date of just 17 percent. This mature field has proved to be a significant area for multi-zone oil and natural gas exploration with predictable results. Bonterra is the third largest Cardium reserve holder in the area after acquiring the properties throughout the 1990s. After a period of lower commodity prices and beginning in 2003, Bonterra pursued a targeted infill drilling program, low-cost optimization, recompletions and key acquisitions which have resulted in not only increased reserves and maximized income from the properties but a reduction of the base decline. This clearly illustrates Bonterra’s ability to provide sustainability and performance for shareholders. Bonterra has significant potential upside in the Pembina Cardium field which could potentially increase recovery of the original oil in place. New frac technology, re-fracs and frac optimization has served to enhance recovery in older wells. As well, Bonterra drilled and completed its first operated Cardium horizontal multi-stage frac well during 2008. The well was placed on production in 2009 and is currently being evaluated.