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Steen River


  • SOG Acquired Steen River Oil and Gas Dec 22nd 2010.
  • SOG Repaired the North Marlowe Pipeline in January to increase SOG Production to 900 boepd as of Feb 2011.
  • Upgrade all season access in North Marlowe
  • Workover the Sulphur Point in 4 wells for a tested volume of 200 boepd
  • SOG Drilled 2 North Marlowe Keg River Wells.  103/10-22 produced 311 bopd and 100/08-22 produced 50 bopd for the first 30 days of production
  • SOG Acquires 38 Sections of Land on June 1, 2011


Up until Dec 2010 Strategic was a 5% partner in the Steen Assets. An opportunity arose to acquire Steen River Oil & Gas Ltd. and the transaction closed on Dec 22nd 2010.  The purchase price was $10.5 MM, of which $6.3 MM was cash and $4.2 MM in Strategic shares. An additional $3.5 MM was assumed consisting of 5% secured debentures for a total enterprise value of $14 MM.


  • Land is 200 sections (140 undeveloped) with 100% working interest
  • Processing facility with capacity for 2000 bopd & 35 mmscfd gas. Estimated replacement cost $35 MM
  • Over 200 km of pipelines
  • Tax pools of >$110 MM
  • Acquisition metrics: $22,000 per boepd

Winter 2010-2011 Activities (completed)

  • Repair pipeline at Marlowe North
  • Shoot, Process and "First Pass" Interpret 3D seismic over North Marlowe.
  • Workover 4 wells for Sulphur Point production
  • Drill 2 wells at North Marlowe for Keg River oil
  • Upgrade to all-season road access into North Marlowe

Q2-Q4 Activities 2011

  • Drill 3-4 additional wells at North Marlowe and 1-2 wells in West Marlowe.
  • Interpret existing 3D seismic over Lessard and appraise for future potential.


North Marlowe 3D Modelling Video

Maxhamish Steen River Ferrier Harmattan Taber Conrad