Operations - Conrad

  • Over 13 key sections of land (providing over 10 possible drilling locations)
  • Current production of 80 bbls/d
  • Long reserve life index of 8 years
  • Incremental oil production is expected to be added from selective drilling and enhanced recovery methods
  • First vertical well drilled at North Conrad -(11-23) Sawtooth Formation, 1,000 m depth (20-30 bbls/d) in late 2009
  • Horizontal well was drilled in the second half of 2010, which has initial production of approximately 30 bbls/day

Strategic holds a 100% working interest in and operates a mature medium gravity oil property at Conrad, in southern Alberta. There are 19 oil wells and a production facility. The field currently produces oil from the Ellis Member of the Sawtooth Formation (1,000 m in depth) at a total rate of approximately 80 boe/d. Oil was first discovered in these reservoirs in the 1940’s. Strategic’s wells at Conrad have a long reserve life and have been producing medium gravity oil at a steady rate for several decades.

Strategic has recently drilled a horizontal well (8-23Hz), which spud on July 8, 2010. This well was drilled as a multi-leg horizontal well targetting the Sawtooth formation. This well is currently producting at 30 bop/d of medium API oil. Strategic is planning to survey two wells in the fourth quarter of 2010.

Maxhamish Ferrier Harmattan Conrad Taber