Quest Oil Adds More Acreage to Acadia North Gas Play
In a strategic move to shore up interests in the Acadia North Project area, Quest Oil's subsidiary, Quest Canada Corp. acquired two additional sections of land and all PNG rights from the Alberta Crown Land sale held on November 16, 2005. The acquired leases are located in the Acadia Valley and, based on prior technical evaluations, are believed to be an extension of the Arneson Viking gas pool that was encountered by test wells "15-34'' and "10-22''. The sections are approximately one mile northeast of section 34-25-2W4.
The successful bid on sections 11-25-2W4 and 12-25-2W4 provide all rights from surface to basement for a five-year period. Quest's Acadia North holdings now encompass five sections totaling 3,200 acres. Section 11-25-2W4 has two wells that have penetrated the objective Upper Albian-age Viking sand interval. Bill Stinson, Quest Oil COO stated, "The Viking Formation in this area has proven to be a prolific gas producer and is our primary objective. It is only in the last five years or so that the analytical geological and geophysical tools to fully evaluate it have been available to the industry. On the geological side, we plan on examining samples from the existing wells in the area to take advantage of the most recent developments in regional and local biostratigraphic correlations in the interval. This data will be correlated with seismic data to further refine our model of what environment of deposition and orientation these sands were deposited.
"We're currently permitting a 3-D seismic program in the Acadia area and will now include these two sections. It's hard not to be upbeat about these two new acquisitions. We think we've picked up the best of the remaining core acreage in the area based on our own in-house analysis of the stratigraphic trend of the producing reservoirs. I don't want to etch this in stone because we're not finished with the 3D seismic, but we anticipate finding several additional locations that have the potential to mimic the high deliverability rates shown by the '10-22' well.''
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