RE: RE: RE: RE: No worries here THEY CANNOT DO A PP BELOW A NICKEL
As at September 30, 2011 the Company has $4,254,890 uncommitted cash on hand and expects to
fund additional capital requirements by joint ventures, reducing Company participation to
conserve capital and reduce risk.
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The Company intends to license a re-entry of a vertical well on a new focus property in Pembina
Alberta in anticipation of re-entering this wellbore and completing a potential light oil bearing
zone. This activity could begin in Q4 2011 and would be conducted 100% by the Company.
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The Company continues to look at all opportunities available to it including, but not limited to,
high potential resource plays using low-cost wellbore re-entries. Further, should the potential of
such resource plays be established, the Company intends to pursue additional financing to
develop these plays. The Company is currently restricted by the rules of the TSX Venture Exchange
in raising additional financing below
.05, and as such the Company is also looking at mergers or
corporate acquisitions. With approximately $4,000,000 cash on hand, the Company has taken
steps to reduce its expenses and conserve capital