RE: New gas well on-line according to ArcanArcan says:
- New exploration gas well discovered in Hamburg was placed onproduction on April 1, 2009, at rates exceeding 1,000 (500 net) boe perday. This well is expected to only pay a 5% royalty for its first 500mmcf of production.
- Deer Mountain and Hamburg GG Poolwaterflood implementation projects have been successful in creating twohigh quality light sweet oil assets with low production declines andlong reserve life. Infrastructure is in place to develop and exploitthese assets. In Hamburg, the Corporation has up to 8 infill locationsin the Slave Point GG Pool which are expected to have Good ProductionPractice ("GPP") status. In Deer Mountain, the Corporation has years ofdrilling inventory built by its technical team.
- Bank line of $50 million confirmed to April 2010.