Anticipated production rates are 75 bbls/day per well as previously announced. These production rates are based on a reserves report prepared by Sproule and Associates Geological and Petroleum Engineering Consultants on January 1, 2001. With the current production of 250 bbl/d and the recently completed five wells mentioned above, the total overall field production is anticipated to be over 600 bbls/day.
The completion has commenced on the Company's first well in the Altares area of northeastern B.C. The Company is performing a multizone completion based on the results of samples, logs and drill stem tests.
Previous announced production rates of 3-5 mmcf/day and reserve estimates of 3 to 10 bcf were announced for this well. Stating potential production and reserve estimates without independent engineering evaluations does not comply with the regulations of the Canadian Venture Exchange. At the request of the CDNX, McDaniel & Associates Consultants Ltd. have confirmed that one of the potential zones in this well is capable of 3+ mmcf/day and that proven and probable reserves of 3+ bcf are reasonable preliminary estimates.
Westlinks has a rolling option on 10,000 acres of land in the area and in addition has purchased over 5,700 acres of adjacent land.
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