This represents the Company's first test for Coal Bed Methane, and included coring and canister testing to prove the gas content and the potential amount that is recoverable. Analysis of the coring and canister testing will be completed over the coming months.
In addition, Nordic also ran a gas detector during the initial drilling, and preliminary results have shown the Belly River Basel to be prospective and logging analysis will begin during the week of November 15, 2004.
"It is contemplated that the well will be completed and produced as a Belly River Basel well initially and a Coal Bed Methane well at a later date," Mr. Benson stated. "However, if the gas in the Belly River Basel is non- productive, then we will proceed directly with the completion of the CBM well."
As part of the Nordic land holdings in Joffre, the Company has an interest in 10 sections of land, which it believes contain coal seams in the Horseshoe Canyon formation at a depth of approximately 500 meters. It is thought that the Coal Bed Methane from these seams is capable of producing 200 to 300 thousand cubic feet per day (MCFD).
"We had identified the Horseshow Canyon area as a strong candidate for Coal Bed Methane production some years ago, and we are excited about the prospects that this holds for the Company," Mr. Benson added.
In addition, Mr. Benson also noted that surveying has been completed in Sections 12 and 14 in Joffre on two new locations. "Wells will be drilled in December, subject to rig availability.
"These initiatives, along with our major exploration play in the Preeceville region of Saskatchewan, should position the Company very strongly to finish out the year, and gives us much optimism for 2005," he added.
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