Business Plan - 2011
Strategic’s planned growth is from increasing recovery of oil from mature or overlooked reservoirs, with large original oil in place numbers, using their technical team’s expertise.
Management Objectives: Continue to Grow Strategic into a sizeable entity focused upon oil in Western Canada
• Develop the 500+ MMbbl light oil resource at Maxhamish
• Develop Keg River light oil potential at Steen River
• Explore the multi-zone oil fairway for light oil opportunities at Steen River
• Light oil opportunities in Western Canada using extensive datasets
• Increase recovery using waterflood and other EOR techniques
- well financed at March 2011 with $10 million of working capital and an unutilized line of credit of $21 million.
- in the position to maximize the potential of the resource play at Maxhamish, BC with a 38.5% working interest in over 100 sections of land.
- entering the early development phase at Maxhamish in 2011 including infrastructure, drilling and facilities.
- aggressively moving forward to exploit the Steen River area assets in 2011 through drilling Keg River and Sulphur Point targets, recompleting behind pipe Sulphur Point reserves, acquiring land and shooting 3-D and 2-D seismic.
- well positioned as an oil focused company with all of its capital program relating to oil development opportunities.