Greentree & Huron Team Up to Drill in Ontario

Greentree Gas & Oil Ltd. has entered into a joint-venture with Huron Oil & Gas Ltd. to drill several wells in southwestern Ontario. The joint-venture has commenced drilling GGOL Huron No. 1, the first well of the program. GGOL Huron No. 1 is an exploratory well which is targeting the Cambrian formation at a depth of 1,250 meters. Results are expected by mid-January of 2003. A second location (GGOL Huron No. 2) is being permitted for drilling in January 2003. GGOL Huron No. 2 is located in Tilbury West Township, Essex County and offsets a recent Talisman Energy discovery. GGOL Huron No. 2 will be drilled to a depth of approximately 1,000 meters and will test the Ordovician Trenton formation. Additional drilling locations are presently being reviewed for 2003.