The South Larne License area covers 86,458 Acres, (350 Square kilometers) and is situated in the onshore Ulster Basin. The Sherwood Sandstone is the primary reservoir in the nearby East Irish Sea basin, which has established reserves of 7 TCF of natural gas and 200 mmbbl of oil reserves.
To date BrazAlta has participated in a four well program in central Alberta with various partners. All four wells have been cased and BrazAlta expects to complete two of the four wells by the end of the first quarter of 2005.
Since 1992 the majority of BrazAlta's efforts and resources have previously been directed to the acquisition and exploration of mineral properties which have the potential of containing economic diamond ore bodies (kimberlite pipes) in Alberta. BrazAlta presently holds 300,000 acres under permit. All of these permits are located in the northern half of the Province. In the past year, BrazAlta has expanded exploration to include oil & gas.
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