Angle Energy Acquires Acreage in West Central Alberta
Angle Energy has entered into a substantial farm in agreement with a major oil and gas company in the Harmattan, Sundre and Crossfield areas. Angle will have access to over 60 sections (38,400 acres) of land as well as rights to review the farmor's seismic database.
Angle expects to drill a minimum of 20 development wells over the next 12 months in this area, and ultimately will drill contingent and exploration locations over a two year period. Angle has committed to a triple drilling rig on long term contract to execute the program. The Company is currently conducting operations in the Harmattan and Garrington areas on Angle owned lands outside of the farm-in.
Harmattan, Sundre and Crossfield are past areas of success for the Angle management group. Specifically, Gregg Fischbuch's significant gas discoveries during his tenure at Hillcrest Resources and TriGas Exploration and his knowledge in this area give Angle a technical advantage.
The farm-in area is characterized by multi zone, liquids rich gas reserves in close proximity to existing infrastructure, with year round access. "Coupled with our development program in the area, this project provides a major platform for accelerated growth." stated Gregg Fischbuch, President and CEO of Angle.
- Angle Energy Finalizes $46.8MM Deal Financing (May 07)
- Angle Boasts 100% Drilling Success for 1Q (Apr 16)
- Angle Energy Acquires Acreage in West Central Alberta (May 16)