Sawtooth Logs Pay in Saskatchewan

Sawtooth International reports that the company has completed six wells of a planned 10 well drilling program in the Redwater/Fort Saskatchewan Area of Alberta. In total the company has DST'd and Production Tested in excess of 20 mmcf/d (million cubic feet per day) from the completed wells. Additional lands have been acquired in the area expanding the companies land position to 30 sections. Ten additional drilling locations have been identified with drilling to resume immediately. A 3D Seismic Program is also being undertaken to identify additional prospects.

Sawtooth has targeted a year-end exit rate of 1150 boed (barrels of oil equivalent per day). Tie-ins are expected to be completed prior to year-end. The company exited 2003 with production of 240 boed.