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Northwest Territories ("CMV")
A summary of the Company's discoveries in the CMV is as follows;
The Company participated in drilling of the first hydrocarbon discovery south of the Norman Wells oilfield. The discovery well, Summit Creek B-44, flowed 20 MMCF/D and 6,300 barrels of condensate per day on a production test from two Devonian age reservoirs. The well discovered a new petroleum province south of Norman Wells. In 2008 a Significant Discovery License covering an area of 20 square kilometers was granted by the National Energy Board.
| Contingent Resource | Gross | Net |
| Best Estimate | ||
| Gas (Billion cubic feet) | 38.7 | 3.1 |
| Oil (Million barrels) | 6.077 | .499 |
| High Estimate | ||
| Gas (Billion cubic feet) | 267.5 | 13.4 |
| Oil (Million barrels) | 27.033 | 2.2 |
A second discovery was made approximately 40 kms south of the Summit Creek B-44 well; the Stewart Lake well drill-stem tested 5 MMCF/D from a Cretaceous age reservoir. This is the first well in the Central Mackenzie Valley to flow hydrocarbons from the Cretaceous. A Significant Discovery License covering an area of 2,640 hectares of Crown lands and 3,960 hectares of Freehold lands was granted by the National Energy Board.
| Contingent Resource | Gross | Net |
| Best Estimate | ||
| Gas (Billion cubic feet) | 20.8 | 2.2 |
| High Estimate | ||
| Gas (Billion cubic feet) | 63.2 | 7.3 |
Husky Oil Operations Limited is the operator of the Exploration and Significant Discovery Licenses.
The Central Mackenzie Valley is serviced by the Enbridge oil-pipeline that connects the Norman Wells oilfield to Northern Alberta. The pipeline, with additional compression, is capable of transporting up to 50,000 barrels of oil per day. The Norman Wells field has produced approximately 240 million barrels of oil to date and is currently producing in the 15,000 -- 18,000 barrels per day range. The Company's acreage is located approximately 70 kilometers from the Enbridge pipeline therefore if a commercial oil or liquids rich gas discovery is made it can be tied into the Enbridge pipeline.
The Mackenzie Delta has yielded gas discoveries of 6.1 trillion cubic feet ("TCF") and has the potential to yield an undiscovered gas resource of 15.4 TCF (OGIP 1&2). The proven and prospective resources in the Mackenzie Delta combined with an estimated 5.7 TCF (OGIP 1&2) of undiscovered resource in the Central Mackenzie Valley are sufficient to justify construction of the Mackenzie Valley gas pipeline. The operator of the proposed gas pipeline, Imperial Oil Ltd., together with its partners continue to negotiate fiscal terms with the Government of Canada to enhance the economics of the pipeline. The proponents expect a ruling by the National Energy Board in Q4, 2010. The proposed pipeline is designed for capacity of between 1.2 and 1.9 billion cubic feet per day.
Notes
1) National Energy Board filing.
2) Gilbert Laustsen Jung Associates Mackenzie Gas Project supply study filed with the National Energy Board.
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Photo Gallery
Click on images to view larger version
 Mackenzie Valley |
 Stewart D-57 Discovery Well (2006) |
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) Access Road |
) NWT Airstrip |
) B44 Location |
) B44 Wellhead |
) Ice Bridge |
) Nodwell |
) NWT in the Summer |
) Rig Move |
) Staging Site |
) Summit Creek B44 Wilma |
) Summit Mountain in Summer |
) Summit in Summer |
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Photo Gallery - February 2005
Click on images to view larger version
) Flintstone NWT |
) Seismic Camp |
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) Heliportable Seismic |
) Seismic Drill |
) Seismic Recording Shack |
) Wilma B44 Completion Rig |
) Sah Cho L71 Exploratory Wildcal Well |
) NRK Winter Road |
) NWT L-71 Akita 40 - February 2005 |
) Betty - Sah Cho L-71 |
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