Alger & Associates Inc., Javelin Energy Inc.

Transaction Type
Sellers
Marketers
Basin
Western Canadian Sedimentary
Field
Clear Prairie
Post Date
Close Date
Estimated Price
MM
Description

Alger & Associates Inc., receiver and manager of Javelin Energy Inc., has retained CB Securities Inc. to sell gas properties in the Clear Prairie area of Alberta.

The package includes 100% working interests in 10 sections and 25% working interests in three additional sections. Assets include seven producing gas wells with 100% working interest.

Production is 225 barrels of oil equivalent per day (1.32 million cubic feet, five barrels of liquids). Total proved reserves are 30,000 barrels of oil and gas liquids and 3.1 billion cubic feet of gas, and proved plus probable reserves of 51,000 barrels of oil and gas liquids and 5.5 billion cubic feet of gas. The reserve-life index is 5.2 years for proved producing reserves and 11.8 years for proved plus probable.

Upside includes multiple producing gas zones including the Montney, Baldonnel, Gething, Bluesky and Notikewin formations, additional downspaced drilling potential, 10 gas recompletion opportunities in the Belloy, Doig, Charlie Lake and Upper Gething, three 100% working interest multiple-zone development drilling locations identified, and numerous field optimization activities and improvements.

The bid due date is March 16. Contact Darryl Derouin, 403-781-7041, info@cbsecurities.com.