Petromin owns interest in four oil and gas properties in central Alberta situated along the Western Canada Sedimentary Basin – the most productive hydrocarbon area in Canada. In 2003, the Western Sedimentary Basin accounted for about 87 per cent of Canada's crude oil and 97 per cent of natural gas production. In total the Company's combined net production rate is at 250 barrels of oil per day.

Overview: The Frog Lake area is within the heavy oil deposits of the lower cretaceous age in the McLaren channel sand along the Western Canada Sedimentary Basin. The McLaren channel trend extends over 50 miles from SE to NW forming a narrow trend of excellent heavy oil reservoirs containing over 1.0 billion barrels of original oil in place (OOIP). This distribution system passes over a pre-Cretaceous sub crop that contains significant reserves of Mississippian Bakken oil that is thought to have a common oil source. McLaren point-bar sandstones are re-incised and aggraded into reservoirs with up to 30 metres of pay and permeability of over 5 Darcies. Seismic definition of these pools is excellent due to high contrast of overlying shale with reservoir sandstones. Gas caps add an increased contract where present. Production: The Company has recently completed its third oil well at its Frog Lake heavy oil project, increasing gross production to approximately 300 barrels of oil per day. The Company retains various working interests in these wells ranging from 45 – 60 percent. Despite the drilling spacing unit, there will be one more location that will be drilled in the future. Exploration: A fourth drilling location is planned and will be drilled in 2013.		Project Map Frog Lake project Map View data » Property photo Frog Lake project photo View data » Western Canada Sedimentary Basin (WCSB)

Overview: The Gilby Property is located in Sonoka Alberta along the Western Canada Sedimentary Basin. Deep play developing below Banff Formation possibly Duvemay Formation, recent crown land price approximately one million dollars per section. The Company retains deep rights in the area through production. Production: The Company’s Gilby property in Alberta, which produces natural gas from the multi-zone gas discovery in the 11-35-39-28 W4M well, reached payout and the Company converted its overriding royalty to a 16 2/3 percent working interest after payout The well has been producing at approximately 500,000 cu ft of gas per day. In 2008, the Company completed a new well in the property. The Company retains a 16 2/3 percent working interest in the new location LSD1-35-39-28 W4M. The gas production of the new well has been producing at approximately 500,000 cu ft of gas per day with 50 plus barrels of light gravity crude oil per day. Exploration: The well at Gilby also contains potential Colony and Glauconitic gas zones which are being assessed for dual completion.

Project Map Gilby project Map View data » Property photo Gilby project photo View data » Petromin's Gliby property in Alberta producing natural gas

Overview: The Morningside Property is located along the Western Canada Sedimentary Basin in Central Alberta. The Company owns in total three quarter sections (480 acres) in Morningside area after purchasing an additional quarter section of oil lease land in the area in 2012. Recent crownland sales for the deep rights in the surrounding area has reached prices of approximately one million dollars per section and expect possible extension of Duvernay play developing. The company retains deep rights in the area through production. Production: A second well located in the Morningside area of Alberta was drilled and completed at no cost to the Company. The 13-23-42-28 W4M well is a dual zone gas discovery producing at approximately 300,000 cu.ft per day and the second 6-23-42-28 W4M well is now on stream and also producing at approximately 300,000 cu.ft of gas per day. The Company retains a gross overriding royalty (GORR) convertible to a 10 percent working interest after payout on the first well and a non-convertible GORR on the second well. Exploration: In September 2012, the company drilled a new well in the area. The newly drilled well was cased, fraced and is currently undergoing production testing. The company has now identified 6 potential drilling locations on existing acreage. With purchase of current surface lease and existing pipeline, the company now directly drill additional wells using existing facilities, saving both time an money with future drilling.

Project Map Morningside project map View data »

Overview: The Redwater North property is located along the Western Canada Sedimentary Basin in Central Alberta. Production: Six oil and natural gas wells have been completed in the property. The company holds working interests ranging from 25 percent to 50 percent on the three wells and overriding royalty on the remaining three wells. Exploration: The Company is evaluating 1280 acres of Viking rights currently held by the Company, Penn West, Husky et al. The Company has varying interests ranging from 18 percent to 100 percent. Properties offset by recent Viking Oil Discoveries has production rate of approximately 100 plus boe per day following horizontal drilling. WestFire Energy Ltd, current operator of the property, has reported production rates exceeding 250 barrels of oil per day from the Viking formation following their modified hot oil fracing of existing vertical wells.

Project Map  Redwater project map View data »