1) Die abgeschlossene Kapitalerhöhung dient zur Finanzierung der Bohrungen im Stoney Creek
Stoney Creek (61,980 acres)
During the Second quarter of fiscal 2006, Contact entered into a seismic option and farmout agreement with an unrelated third party for the Stoney Creek oil field. The agreement requires the Company to commence a seismic program on or before September 1, 2006 and with an option to drill a test well. The Company has committed to contribute $600,000 towards abandonment and reclamation of existing wells within the farmout lands. Contact assumes no other abandonment or environmental liability. Contact has a 100% working interest in the Stoney Creek property.
During the quarter, Contact completed a 17 square kilometre, 3-D program covering the Stoney Creek oil field, onshore New Brunswick. The seismic data is currently being processed and it is anticipated that a two well horizontal program will be implemented pending rig availability which is expected to be late January, 2006.
Several prospects have been identified in the area. The Gautreau prospect lies 2 kilometres east of Stoney Creek, where restriction of circulation of the late Albert lake resulted in the deposition of salt beds over lacustrine clastics. Several old wells drilled between 1928 and 1958 encountered shows of oil and gas immediately beneath this salt, attesting to its effectiveness as a seal. A fault-bound prospect with a minimum area of 1750 acres has been mapped. In the second quarter of 2005, Contact drilled the Contact MBA Gautreau well to a depth of 564 metres. The well was logged and cased to TD. A total of 9 intervals were perforated and tested on completion. The shallowest zone located from 356 - 364 metres encountered light 35 API oil. At quarter end, Contact is reviewing the completion results with MBA to see if S T I M U L A T I O N of this oil zone is warranted.
Other Albert prospects include deeper (~2,000 metre) gas zones encountered but not adequately tested and completed during recent drilling at the Downey/Bull Creek prospect, 4 kilometres south of the Stoney Creek field. Contact has recently acquired 5500 acres of land from the original operator, Columbia Natural Resources Canada Limited, in this area, and plans a 3D seismic survey to prepare for redrilling of the discovery.
Relatively shallow (800-1,500 metre) oil targets, which recently have been drilled in the Albert Mines area, 8 kilometres south of Stoney Creek field, have also been identified on the acreage acquired from Columbia Natural Resources Canada Limited. A program of re-evaluation and possible production from these wells is planned. Although the crude is light and low in sulphur, earlier production was restricted by high paraffin contents. Contact intends to use modern oilfield practice, particularly with respect to drilling and completions engineering, to maximize production from the Albert reservoirs in this area.
The Stoney Creek area lies 25 kilometres southwest of the Maritimes and Northeast pipeline, which delivers natural gas from offshore Nova Scotia to the northeastern United States.
FAZIT:
Das Ding steht erst am Anfang, hat Fantasie. Am Ende des zweiten Quartals, also Mitte des Jahres wird entschieden ob eine Stimulation dieser Ölzone wirtschaftlich sinnvoll ist.
D.h. es ist eine Ölquelle wo das Öl nicht einfach raussprudeln wird, sondern stimuliert werden muss ( zb. Wasser reinpumpen was dann wieder extrahiert werden muss)was zu höheren Produktionskosten und geringeren Ölförderquoten führt. Aber denkbar, das dies bei den derzeitigen Ölkosten hochproduktiv werden kann.
Es geht aber weiters auch um Erdgas und mit der Nähe zur Gaspipieline in die USA gute Vorraussetzungen.
Da mit konkreten Informationen über Resultate zu diesem Projekt vorraussichtlich erst Mitte des Jahres zu rechnen ist, ist die Vermutung von Mr.Wolf der mit News Anfang nächster Woche rechnet vieleicht was dran? Könnte ja alles mögliche sein, von Übernahmespekulationen (ist mir jedoch für einen Explorer in diesem Stadium fast noch zu früh) über Zukauf bis zu positiven News anderer Projekte. Ist jedoch eine reine Spekulation.
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