Stratacom Drills First Well on Alberta Gas Play
|Thursday, March 03, 2005
Stratacom Technology has begun drilling the first well on the Company's northeastern Alberta gas play. This is the first of two earning wells that form part of a farmout agreement with two private Calgary oil & gas companies. Pursuant to the farmout agreement, Stratacom can earn an undivided one-third interest in 8 sections of land. Drilling of this first well is expected to take 3 or 4 days to complete, after which the rig will be moved to a second nearby location.
The Company has also exercised its option to acquire an undivided interest in an additional 7 sections of land in the area.