St. Mary Land & Exploration Co.

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St. Mary Land & Exploration Co. has retained Meagher Oil & Gas Properties Inc. to sell certain Bakken resource play assets in the Williston Basin of North Dakota. The package includes approximately 41,000 gross acres (24,300 net) in four contiguous blocks in the Three Forks area in Mountrail and Burke counties with about 1,200 of those developed. Approximately 8,000 gross acres are held by production, with the remainder expiring between 2009 and 2013. The average net revenue interest is 84%. The assets include three operated wells and five nonoperated. Projected production for May is 618 barrels of oil per day gross (61 barrels net) and 565,000 cubic feet of gas per day gross (49,000 net). Projected cash flow in May is $57,100. Upside includes 80 gross undeveloped 1,280-acre spacing units. Additional potential exists in the Tyler sand and Lower Bakken/Three Forks lime bank. The bid due date is May 14. The effective date is May 1. The closing is expected by June 17. Contact Julia Foster, 303-721-6354 ext. 229.