Data points (some numbers rounded):
- 1Q12: drilled 35 net wells, all targeting light oil; 100% success rate; included 10 net horizontal wells ain its Spearfish play at Pierson, Manitoba, and Bottineau County, North Dakota
- In Bottineau: 5 wells producing; 90-day average -- 100 bbls/day (3,000 bopm)
- "The Company estimates that IP capability of these Bottineau County wells would be in excess of the constrained rates reported"
- Stratigraphic wells: confirming net pay of 9 meters, OOIP of > 10 million bbls/section
- 230 net locations on the north portion only of its lands in Bottineau County; approximately 97% unbooked
- The total Spearfish play: inventory of 440 net locations; 8 wells / section; but location could could increase by 50 percent through downspacing
- evaluating the waterflood potential; anticipates recovery factors of up to 14 percent
