The Company is reviewing production and technical data from two recompleted wells in the Fiddler Creek properties in Stillwater County, Montana. Preliminary oil composition and production data indicates that both wells are capable of delivering continuous heavy oil flow via use of progressive cavity pump technology.
In January, an additional 3,000 acres of federal leasehold was acquired in the Fiddler Creek area at the Montana federal sale. This additional acreage increases the Company's acreage position in the Fiddler Creek area (which includes several structural features) to more than 23,000 net acres. The Company has completed geological and geophysical maps and has selected three vertical and three horizontal well locations for development later this calendar year.
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