Mooncor Adds Western Canadian Shale Gas Play to Portfolio
Monday, December 22, 2008
Mooncor Oil & Gas Corp. has recently acquired 56,960 acres of 100% working interest lands on a shale gas play in the western Canadian Sedimentary Basin. The shale gas play has been successfully exploited by other industry players in another area of the western Canadian Sedimentary Basin.
This property, acquired at Crown land sales through brokers, occurs as an almost contiguous land block on trend with a well-known, high-profile, shale gas play. The property occurs in an area that has an extensive system of gas gathering and processing facilities with services and infrastructure readily available for third-party use and significant for development of Mooncor's assets in the area.
Mooncor entered this play through in-house development of a previously-acquired technical report and the strategic application of a large, land-banking program. Mooncor has also recently acquired a cased, suspended wellbore and four associated sections of land on this shale gas play (included in the acreage mentioned above).
Mooncor intends to complete the shale zone in this well prior to spring breakup in order to determine aspects of reservoir quality and deliverability. Mooncor is negotiating an arrangement with a local consulting firm with extensive shale gas expertise, to prepare a detailed petrophysical study of Mooncor lands in order to develop a more complete comparison with the large analogue fields.