Operations

Trafina Operations


Oil Drilling Plans
McMullen

  • 21,120 acres at 100%
  • 33 sections of land (100% net)
  • Prospective for Wabiskaw heavy oil “cold production”
  • Potential to develop area using “pod” drilling technique

Initial development:

  • Seven vertical well licences approved
  • All-weather access road and five surface locations complete
  • Drilled three vertical wells in July 2011
  • $410,000 per well
  • On production to evaluate for potential pod drilling

McMullen's Proven Reserves
Heavy Oil Reserves as at Oct. 1, 2011
(McDaniel & Associates Consultants Ltd.)
(based on forecast prices and costs) (Mbbl)

Total Proved 
 Total Probable  Total Proved 
Total Probable 
515.3  403.5  918.8 
Net Present Values of Future Net revenue as at Oct. 1, 2011 (forecast prices and costs) (before income tax) (M$)
Discount Factor
Total Proved
Total Probable
Total Proved
Plus Probable
0%
6,265
8,985
15,250
5%
5,408
7,510
12,918
10%
4,636
6,313
10,949
15%
3,948
5,336
9,248
20%
3,336
4,535
7,870

 

 

McMullen Oil Initially-In-Place (OIIP)
Estimated Discovered Oil Initially-In-Place as of March 31, 2011
(McDaniel & Associates Consultants Ltd.)

Category/Level of Certainty

Discovered OIIP (MMBbl)

Low Estimate

254

Best Estimate

303

High Estimate

362

(1) Discovered Oil Initially-in-Place is that quantity of oil that is estimated, as of a given date, to be contained in known accumulations prior to production. OIIP is the most specific category of resources that can be assigned at this stage because there is insufficient data available at this time to sub classify. The data required to sub classify is data such as viscosity and flow test data that will be obtained when the vertical wells are drilled. There is no certainty that it will be commercially viable to produce any portion of the resources.

Additional Oil Upside
Rangeview/Divide

  • 90% working interest in 19.805 acres (17,825 net acres) of oil prospects
  • Upper and Lower Shaunavon and Madison oil zones
  • Multi-zone exploration potential in the Cretaceous and Mannville zones
  • Two batteries
  • Horizontal treaters
  • Free water knockout equipment
  • Salt water disposal capacity of 4,000 m3 of water per battery