Projects

Waubuno, Southwest Ontario

The Portrush et al # 1, Moore 5-13-III

The well was drilled to a final total depth of 729.0m. on December 6, 2007 without encountering a pinnacle reef. The well encountered a number of "reef proximity indicators" including two zones of reef derived "Sucrosic Dolomite" in the upper A1 Carbonate formation. The lower zone with 11.8' of thickness gave up good oil showings while drilling. The Neutron-Density logs indicate porosity in the 6.0% range but with poor permeability and not suitable for completion. "Fracturing stimulation" is not allowed on wells that are drilled adjacent to gas storage reservoirs so this was not an option for the Company.

The well is considered a near miss of a pinnacle reef. The 2D Seismic anomaly on which it was drilled is considered "sideswipe" to a pinnacle. The Company has received a proposal and is planning a more sophisticated 3D Seismic survey over the lands to pinpoint a drillable anomaly. This survey could take place in early 2008. This would minimize land damages in a very sensitive area. The well is presently being saved in anticipation of directionally drilling in the direction of the pinnacle subject to the seismic results. The prospect is located on trend and mid-point between two pinnacle reef gas storage pools, Kimball Colinville and Waubuno.

Drilling rig on Waubuno, Ontario