Sogar Resources Ltd.

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Sogar Resources Ltd. has retained Sayer Energy Advisors to help sell its non-core oil and natural gas property in the Garrington area of south central Alberta.

Sogar’s recent net production from the property has averaged about 34 barrels of oil equivalent (BOE) per day, including 120,000 cubic feet (120 Mcf) per day of natural gas and 14 barrels of oil and natural gas liquids per day. Recent net operating income has averaged approximately $18,000 per month, or $216,000 per year, which includes approximately $1,200 per month of royalty revenue.

Sogar has identified the potential to drill a horizontal Manville well to offset a 400 barrel per day Manville well that was recently drilled offsetting its land. It has also identified the potential to recomplete to of its 50% working interest wells in the Glauconitic Sandstone Formation.

Sogar has operated and non-operated interests ranging from a GOR to a 50% working interest in six and one-half sections of land at Garrington, on which there are four producing natural gas wells.

Total proved plus probable reserves as evaluated by McDaniel & Associates Consultants Ltd. as of Dec. 31, 2012 are approximately 65,000 barrels of oil and NGLs and 525 MMcf of natural gas (153,000 BOE), with an estimated net present value of approximately $1.4 million using forecast pricing at a 10% discount rate.

Cash offers to purchase the property will be accepted until 12 p.m. on Thursday, March 28. For additional information, contact Alan Tambosso, president of Sayer Energy Advisors.