Anterra Snaps Up Cardium, Bakken Assets in Canada

Anterra Energy has provided an update on recent land acquisition activities and drilling activities in Canada.

In Anterra's area of Breton-Buck Lake the Company now holds 4 sections of land (2,560 acres) over the evolving Cardium light oil play in the area following acquisition of two additional sections at a recent crown land sale. These lands are within an area where industry operators have drilled a number of successful wells. Management is presently assessing its drilling plans for the Cardium within the lands and anticipates making further announcements in the near future. The lands are also prospective for Viking oil and gas and add considerably to the Company's Cardium and Viking horizontal well drilling inventory in the area.

In Saskatchewan, the Company has recently acquired an additional 7,526 net acres of crown lands. The Company now holds a 15 2/3 section block (10,026 net acres) which is prospective for Bakken oil and Mississippian oil. Anterra plans a 3-D seismic program over the lands during the summer with drilling of the first Bakken well scheduled for the fall of 2010.

In regard to recent drilling activities, the Company advises that at Matziwin in Alberta, the short leg horizontal oil well drilled by a joint venture partner at LSD 5-15-23-14W4M (40% interest before payout, 45% interest after payout) has been placed on production. The well is producing an estimated 5m(3) per day of fluid with an 85% oil cut. The Company is evaluating subsequent locations on the Matziwin lands.

In Saskatchewan, the 100% interest horizontal Lower Shaunavon well at LSD 4-12-2-21W3M in the Claydon area was drilled and abandoned with further drilling on the 12 section southern block of land now needed to define the extent of the resource. At Frontier, an unsuccessful attempt was made to clean out sand and debris from the horizontal leg of the Lower Shaunavon well at LSD15-07. Half of the horizontal leg remains obstructed. The well has now been returned to production.

 

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