Irwin Energy Inc. is currently participating in three drilling projects to drive revenue and growth.
The first is the Richmount Westlock well. The Westlock was perforated and flowed at one million cubic feet per day for several hours to clean-up the formation. The pressures were 964 PSI (pounds per square inch) at surface and between 1050 to 1075 PSI at the perforation depth indicating a potential new pool relative to the off-set gas well. After flowing, the wellhead pressure returned to the original shut in pressure immediately.
The initial production rate of the well is estimated to be 500,000 cubic feet of gas per day. Production flow from this well is scheduled to begin by the end of Feb. 2005.
The second project is Sylvan Lake drill program. The initial well is a 7,200-foot Peskisko Sand test that is prospective for oil and gas. Montana has estimated that each development well has probable production of 150 barrels of oil per day and 750 million cubic feet gas per day with reserves in excess of 1 billion cubic feet gas and 300,000 barrels of oil. The average well in the Sylvan Lake Field has produced 500 barrels of oil per day with over one million cubic feet of gas per day. If successful, the company intends to drill up to 4 more wells on these land sections. The first well is expected to be in production near the end of March 2005.
The third project is at Barrhead
Call for completion work to be done on well No. 1; the well existing on the property when we acquired our interest, and to commence the drilling of well No. 2. Upon completion of the drilling on well number 2, Irwin will have acquired an interest in both wells. The drill site for well No. 2 has been surveyed with drilling estimated to start immediately within 30 days subject to availability of a drill rig. The next well will be drilled right after well 2 is complete. All 3 wells will be fractured to breakdown the oil-permeated formation in the upper zone, before pipelining the combined flow from the 3 wells into a near-by refining facility.
Management Team
President
John Gaetz (Director & President), Mr. Gaetz, the founder of UV Technology Inc., brings over 35 years of experience in the manufacturing sector and a strong background in accounting and finance. He has held several senior level management positions in the past including the position of Executive Vice-President and Secretary of UVST, until its 100% acquisition by SVSY. Prior to UVST, Mr. Gaetz was responsible at various companies for financial administration, engineering, purchasing, production, product development, sales, labor relations, service, installation and quality control. Mr. Gaetz was Vice-President and Director of Administration for Harnischfeger Corporation where he was responsible for the manufacturing and development of naval defense equipment for the Navy of NATO.
Chairman
Dr. Erwin Liem, PhD. (Director, Chairman) Dr. Liem has specialized for the last 15 years in the area of mergers and acquisitions. He has also been a government project liaison officer in the capacity of project advisor in Costa Rica, Panama, Republic of China and Indonesia. Dr. Liem has represented companies in mergers and acquisition including work in the area of financial institution diversification. His work has also included being a representative of a Russian bank for their North America division in 1993. Dr. Liem is currently acting in the capacity of Corporate Strategy Advisor to a number of companies located in Canada, USA, Indonesia, Hong Kong, Republic of China, Costa Rica, and Panama. Dr. Liem holds an MBA and PhD in Economics.
Vice Chairman
Dr. Werner F. Grieder, PhD. (Vice Chairman), Dr. Grieder received his Doctor in Economics (Dr.rer.pol.) From University of Basel, Switzerland. He also completed the IMEDE Seminar in Advanced Financial Management Lausanne, Switzerland, 1976. Dr. Grieder speaks German, English, French, and Spanish. Dr. Grieder spent 18 Years in a range of management positions at CIBA Geigy Ltd.. and has been stationed in Basel, Africa, Japan, Singapore and other parts of Asia. Subsequently he spent 2 years with Holderbank Ltd. In Honduras. Currently, Dr. Grieder is a management consultant in Panama and a financial advisor to US and Canadian Venture Companies, with major emphasis on junior mining companies. Over the last eighteen years he has raised several million dollars in funding for clients in Europe, and also negotiated strategic alliances, joint ventures, mergers and acquisitions for US and Canadian Companies.
Secretary
Darrell Cho (Secretary), Mr. Cho is the Secretary for the Company. His background includes being the top salesman for Motorola Canada and was responsible for the West Coast sales area. Mr. Cho has over twenty years in sales and advertising and is fluent with all aspects of the marketing of the Company. Mr. Cho is responsible for the structure and organization of the sales and marketing staff of the Company with www.theusedcarlot.com
Project Geologists from Montana Oil and Gas
Paul Watson - Professional Petroleum Geologist.
Paul brings extensive experience to Montana as he has been in exploration, development and finance of oil and gas projects over the last 30 years in North America and Internationally. Paul has participated in financings valued at $150 million and has been responsible for drilling over 500 wells that resulted in the discovery of over 42 million barrels of oil equivalent. Paul is located in Calgary, Alberta and is a principal shareholder in Energy 51 as well as being an active member of A.P.E.G.G.A.; C.S.P.G.; and A.S.P.G.
Randy Buchanan - Petroleum Geologist and Geophysicist.
Randy is a principal shareholder and the President of Energy 51 and is located in Calgary, Alberta. Randy has held executive positions with a variety of oil and gas exploration companies over the last 30 years. As a Director and Vice President he has managed funds for the CMP Group of Funds, and was previously a supervisor for Gulf Oil.
http://www.irwinenergy.com/
Share Structure
authorized 12,000,000 shares
public float 1,300,000 to 1,500,000 shares
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