Petromin Resources Ltd. V.PTR.H

RE:Valuation for PTR's Gilby & Morningside just doubled

[shaker13]

 

 

 

Overview: The Gilby Property is located in Sonoka Alberta along the Western Canada Sedimentary Basin. Deep play developing below Banff Formation possibly Duvernay Formation, recent crown land price approximately one million dollars per section. The Company retains deep rights in the area through production.   Production: The Company’s Gilby property in Alberta, which produces natural gas from the multi-zone gas discovery in the 11-35-39-28 W4M well, reached payout and the Company converted its overriding royalty to a 16 2/3 percent working interest after payout.   In 2008, the Company completed a new well on the property. The Company retains a 16 2/3 percent working interest in the new location LSD1-35-39-28 W4M.    Exploration: The well at Gilby also contains potential Colony and Glauconitic gas zones which are being assessed for dual completion.

Project Map  Gilby project Map  View data »       Petromin's Gliby property in Alberta producing natural gas

 

 

Overview:

The Morningside Property is located along the Western Canada Sedimentary Basin in Central Alberta. 

The Company owns in total three quarter sections (480 acres) in Morningside area after purchasing an additional quarter section of oil lease land in the area in 2012.

Recent crownland sales for the deep rights in the surrounding area has reached prices of approximately one million dollars per section and expect possible extension of Duvernay play developing. The company retains deep rights in the area through production.