Well licensing is proceeding with an 8 well drilling program planned following Spring break-up.
Three gas wells are in the process of being tied in. A successful production test is currently being finalized on a recently drilled gas well pending an AEUB Pooling Order. The company's existing Redwater 32 degrees API oil pool which has been producing since 1994, has a remaining index life of approximately 20 years. A new Electrostatic Crude Emulsion Treater has been ordered to increase oil treatment at the Redwater 3-7 battery facility. Installation is expected to be completed during May 2005.
Sawtooth is targeting a 2005 exit production rate of 1500 boed.
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