The Company has surveyed and licensed a follow-up well to be drilled immediately into the new discovery pool based on data obtained from the initial well.
Chris Cooper, President & CEO, commented "The successful Lavoy well will add significant production to the Company immediately and we are optimistic that a successful follow-up well coupled with our existing production will help the Company achieve management's goal to exit 2005 at over 1000 boepd."
The Company also reports that, due to wet conditions, completion and testing activities on the three exploration wells at Grouard are still underway, with results expected within the next two weeks.
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