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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C) -- Ignore unavailable to you. Want to Upgrade?

To: Jim P who wrote (519)	3/14/1998 8:09:00 PM
From: Max-mouse	Read Replies (2) \| Respond to of 2306

Hi, Jim. I think you missed th first three wells! Good luck Mm_ "...... Turner Valley, Southwestern Alberta Commencing in the fall of 1993, the Corporation and other industry partners drilled five deep test wells in the Turner Valley area, the last reaching total depth of approximately 10,000 feet in the Mississippian Turner Valley formation in the spring of 1995. The first four wells drilled into the Devonian formation at a depth of approximately 12,500 feet. Five-Well Program Results The first well, Stampede Bcat et al Hartell 4-13-19-2 W5M, was completed in the Crossfield Member of the Devonian Wabamun formation as a significant new gas discovery. The well has a gross pay section of 210 feet with 161 feet of net reservoir. An independent engineering evaluation by Farries Engineering (1977) Ltd. dated June 14, 1995 (the "Farries Report") has estimated 46.7 billion cubic feet ("BCF") of recoverable proven non-producing and probable gas reserves attributable to the well gas spacing unit. The Farries Report indicated that 23.1 BCF of these reserves could be recovered in 50 years and the balance of 23.6 BCF were included in the probable category as there was a reasonable chance that stimulation could improve productivity resulting in all of the calculated reserves being recoverable within 50 years. Bearcat has a 38.25% net working before payout interest (8.8 BCF of proven non-producing reserves and 9.0 BCF of probable reserves) and a 21.25% net working after payout interest (4.9 BCF of proven non-producing reserves and 5.0 BCF of probable reserves). The Farries Report utilized a risk factor of 50% for the probable reserves. The well is currently shut-in awaiting a follow-up development drilling program. The second well, Stampede Bcat et al TV 11-9-19-2 W5M, was dry and abandoned and has been taken over by Pembina Resources as it owns the uphole petroleum and natural gas rights. Test results of the Crossfield zone of the third well, Stampede Bcat el al Hartell 10-35-18-2 W5M, indicate possible water communication behind casing as log results suggest the top half of the zone is gas bearing. It has been completed in the overlying Cretaceous Dalhousie Sand zone as an oil well. A production test operation is being conducted on this well at this time. Test results for the fourth well, Stampede Bcat et al TV 6-23-20-3 W5M, indicate a 40 foot net gas pay in the Crossfield zone. It is expected that this well will be production tested subsequent to the planned deepening results of the fifth well. The total depth of the fifth well, Stampede Bcat et al TV 7-25-20-3 W5M, in the Regional Mississippian Turner Valley formation is approximately 10,000 feet, which tested wet. This well is to be deepened to evaluate the Crossfield zone at a depth of approximately 12,000 feet. Geological and seismic information derived from the first five wells drilled, together with newly acquired data indicate the presence of significant bypassed oil reserves in the Regional Mississippian Turner Valley formation. This reservoir underlies the currently producing Turner Valley formation reservoir in the shallower overthrust blocks where the main production in the Turner Valley oil field is derived from. ......"