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parkplaceenergy.com PRPL FRANKFURT: 3P2 Park Place Energy is first and foremost an international high impact energy play corporation. Currently, its primary activity is in oil and gas exploration in the North Sea, as well as the development and production of its Canadian assets including the recently announced major gas find in British Columbia. Park Place utilizes its expertise in the oil and gas industry to enhance shareholder value and profitability by pursuing attractive opportunities in the international oil and gas industry. Projects: UNITED KINGDOM OFFSHORE NORTH SEA Brighty Park Place Energy has entered into an agreement with a UK corporation in a highly prospective off-shore area in the North Sea called the Brighty prospect, located in the Inner Moray Firth. This property has similar characteristics to the Buzzard area play, the largest field to be discovered in the past quarter century. CANADA BRITISH COLUMBIA Eight Mile The corporation has entered into an agreement with the operator to farm-in on a 21 section natural gas project in northeast BC, called the Eight Mile Property. The corporation announced a major discovery when a test well was fracture stimulated and flow-tested at a final rate of 3.5 MMCFD. Five more wells are projected in the next 12 months with the potential for 44 gas wells in total. ALBERTA Cecil-Eureka Park Place Energy has a 5 section farm-in agreement with the operator which cover some 3200 acres. The property has the potential for 5 gas wells as well as 20 oil wells. Worsley The corporation has entered into a farm-in agreement with the operator to participate in a seismic and test well program for oil at Worsley. The 3D seismic has been shot and interpreted, a location has been identified and drilling is expected to commence in 2008. Medicine Hat Park Place Energy has entered into a farm-in agreement with the operator to participate in a seismic and test well program for oil at Medicine Hat. The well has been drilled and completed and the company is currently awaiting production results. Atlee Buffalo The corporation has entered into a farm-in agreement with the operator on a test well program for shallow gas at Medicine Hat. Wells have been completed and currently awaiting EOG Gas Gathering System. Normandville The corporation has interests to two leases comprising seven sections of land in the Peace River Alberta Oil Sands region. A seismic and test well program is planned for the this property. SASKATCHEWAN Kerrobert Park Place Energy currently earns revenue from 19 shallow wells. However, the corporation has an option to participate in a 50 well program. The estimated life of the Kerrobert wells is expected to be over 15 years. The oil is comparable to West Texas #1. Chart: bigcharts.marketwatch.com | ||||||||||||||
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