Stratacom Drills First Well on Alberta Gas Play

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.

Company: Stratacom Technology more info
 - Stratacom Drills First Well on Alberta Gas Play (Mar 03)