Central Alberta *

In 2011, Painted Pony initiated exploration activity on new light oil plays in Alberta, targeting Viking oil. By the end of the 2011 year, the Company owned 12,640 net acres of 100% working interest lands, or 19.8 net sections. 

 

Wimborne

In the Central Alberta Wimborne area, through participating in provincial land sales, the Company has acquired 8,160 net acres (12.8 net sections) of primarily Crown lands. In the first quarter of 2012, Painted Pony executed a farm-in agreement on 10 additional net sections of Crown and freehold lands, also considered prospective in the Viking formation. Under the terms of the farm-in agreement, Painted Pony has committed to drill at least 1 (1.0 net) horizontal Viking well, subject to a non-convertible gross overriding royalty. In the first quarter of 2012, the first 100% working interest exploratory earning well was drilled on this play, with completion results expected after breakup.

 

As at December 31, 2011, for more current information please see our latest Corporate Presentation