Alberta Plains
The Alberta Plains core area is located in the east central and southeastern regions of Alberta and is characterized by relatively shallow wells and all-season surface access. This core area brings a large undeveloped land base of 229 thousand net acres. In 2009, Alberta Plains accounted for 58 percent of Zargon’s natural gas production and 37 percent of oil production.
Historically, the area has provided significant natural gas operating cash flows from the Jarrow and Hamilton Lake properties. In the past, our large Jarrow and Hamilton Lake undeveloped land inventories provided the feedstock that we successfully explored to maintain production volumes. These same undeveloped lands and partially drained producing reservoirs are now the feedstock for our natural gas exploitation initiatives.
Over the last two years, Zargon has completed four smaller corporate acquisitions, which added exploitation properties at Bellshill Lake, Grand Forks and Little Bow. These new properties, along with our Taber property, offer a significant oil-in-place target for our oil exploitation initiatives.