Project Profile
Location: Mantario area, West Central Saskatchewan, Canada
Area: 1,280 acres
Production: 65 to 100 barrels of oil per day (estimated)
Pennant Energy has agreed with compatriot Blackbird Energy to farm into a new oil project in West Central Saskatchewan. Pennant Energy is to pay a total of around US$546,900 worth of land acquisition, seismic and drilling costs for a 30% stake in the 1,280 acre position in the Mantario area. The play is believed to be prospective for conventional oil in the Lower Mannville. The recent wells in the same area had delivered initial production rates of 65 to 100 barrels of oil per day. The explorer plans to issue a notice of intent to spud a test well at the play in August 2013.
Operators:
Blackbird Energy: Operator with 70% interest
Pennant Energy: 30% interest