Sogar Resources Ltd.

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

Sogar Resources Ltd. has retained Collins Barrow Securities Inc. to divest certain Alberta oil assets. The assets include two waterflood properties, Crossfield and Keho. Production is approximately 115 barrels of oil per day. Remaining proved and probable reserves are 1.92 million barrels of oil. The Crossfield property includes a 100% working interest in the Crossfield East Cardium C Unit. Sogar acquired the property in 1998 and has maintained water injection. The unit is producing 100 barrels of oil per day. Remaining recoverable reserves are 496,000 barrels of oil and proved producing reserves are 1.45 million barrels. The Keho property includes a 100% working interest in the Colorado A waterflood project in sections 16, 17 and 20-11-22 W4M. The property is producing 15 barrels of oil per day. Remaining recoverable reserves are estimated at 266,000 barrels of oil and proved producing reserves are 467,000 barrels. For more information call Graham Kidd at 403-298-1533 or Darryl Derouin at 403-298-1515