The Energy division operates a standalone junior oil and gas business. After conducting extensive due diligence, Energy acquired an undivided 100% interest in 14 contiguous oilsands leases located at Normandville within the Northern Alberta Peace River Arch area. Energy then completed a detailed geological and technical review of the Normandville Property and in late 2010 secured industry partners who have entered into a Farm-in Agreement pursuant to which they have earned 80% of Energy’s working interest. After becoming recognized by the applicable regulatory authorities in Alberta as an operator, Energy commenced drilling the three well program on the Normandville Property, all of which have now been drilled and cored. Achieving operatorship status has opened doors for the Company to review additional drilling opportunities on a go forward basis.
- 20% ownership in 14 Sections comprising ~9,000 contiguous acres of oil sands leases.
- Normandville Area has excellent pre-existing infrastructure with year round access.
- 3rd party engineering report showing 150 million barrels of OOIP and potential for horizontal cold flow reservoir.
- Shallow depths of 750m to 765m.
- Energy, as operator, has drilled 3 Bluesky Test Wells.
- Results are being analyzed to determine optimal way to develop the Normandville Property.
- Planning to drill horizontal well.