Long Run Explor Ltd Ord WFREF

Duvernay Sections

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"While many companies have exposure to the Duvernay play as we show in our larger report, we expect that
very quickly increasing and significant capital requirements will force most smaller companies to sell or JV
their lands."

Exhibit 2. Duvernay Land and Activity Summary
Company Sections

Encana 625

CNRL 623
Talisman 563
Longrun 547
Chevron 395
Athabasca 300
Penn West 236
Vermilion 227
Trilogy 200
Petrobakken 190
Celtic 172
Shell 172
Husky 148 
Longview 123
Angle 115
Enerplus 110
ConocoPhillips 94 
Delphi 79
Bonavista 75 
Yangarra 70
Chinook 70
Bellatrix 43
Crew 20
Yoho 18
Source: Company Reports, Bloomberg, TD Securities

LRE has a pile of land.

From what I can tell "they" GO/WFE never have drilled a well on all this property. Why?

J