Eden Energy Corp.
Eden Energy's primary focus is the development of the Ant Hill Unit on the eastern flank of the White River Dome field in the Piceance Basin, Colorado. The Ant Hill Unit is a 20,000 acre federal exploratory unit operated by EnCana Oil & Gas (USA) Inc. By drilling wells outside the existing Participating Areas, Eden is able to expand the unit and keep it in effect.
Effective January 1, 2009 the Company has drilled 8 wells in the field and has 6 on production. An Independent Reserve Report by MHA Petroleum Consultants Inc. assigned net proved reserves of 2.85 Bcfe with a PV10 value of $4.7 MM. Reserves and present values have been severely affected by low Rocky Mountain gas prices, which are expected to continue for some time. Additional drilling has been deferred for 2009.
Eden Energy also has exploratory projects in Nevada, USA and Alberta, Canada. These projects are not a primary focus for the Company at this time.
9,893,571 common shares issued and outstanding as of November 10, 2010