"As part of the land holdings we have in Joffre, we have an interest in 10 sections of land which we believe contain coal seams in the Horseshoe Canyon formation at a depth of approximately 500 metres," Mr. Benson stated. "We believe that the Coal Bed Methane from these seams is capable of producing 200 thousand to 300 thousand cubic feet per day (MCFD)."
Mr. Benson indicated that the well could be drilled as early as next month, subject to rig availability. "A successful initial well would substantially increase our proven and probable reserves in the area," he added.
The area in question has already proven to be successful in at least two other cases: one company recently drilled four wells, while another is producing 300 MCFD from a well it drilled last year.
"We are excited about the prospects for Coal Bed Methane in this area and look forward to drilling our first well," said Mr. Benson.
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