Compton Seeks Approval for North Okotoks Exploration Licenses
Compton Petroleum has informed the Alberta Energy and Utilities Board that it plans to continue to pursue the Board's approval of its applications for licences to drill sour natural gas wells in the Okotoks Field in the area southeast of Calgary.
Based on evidence presented at a seven week public hearing earlier this year, the Board released Decision 2005-060 on June 22, 2005. This decision found that the proposed wells can be drilled, completed and operated safely. At present, Compton is producing the reserves from this area from two existing gas wells which have operated safely for over 20 years. However, Compton continues to believe that it is in the broader Alberta public interest for the gas reserves of this area to be depleted on an accelerated basis. With that objective at the forefront, Compton has and intends to continue to pursue the authorization of the Board for approval to drill these additional wells to deplete these reserves more rapidly.
Compton appreciates that the Board's final approval of its well licence applications will only be issued if Compton can gain the Board's approval of a revised Emergency Response Plan, which will only be presented after further public consultation has occurred. Compton is currently directing its efforts towards the co-operative development of an Emergency Response Plan that can be presented to the various stakeholders, and that will ultimately be considered to be acceptable by the Board.