Compton Petroleum Corporation has engaged Tristone Capital to seek proposals for its Cecil area oil and gas assets.
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Asset disposition of Compton's Cecil area oil and gas assets
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March 2008 production estimated at 2,025 boe/d consisting of 1,350 bopd oil and NGLs (67%) and 4,051 Mcf/d (33%)
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Long RLI of 13.4 years (P+P)
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Large Charlie Lake oil pools totaling over 350 MMbbl (gross) of OOIP with current recovery factors of 5%
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Both operated and non-operated production
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Opportunities include:
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Charlie Lake horizontal infill and development drilling
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Expanding the successful pilot waterflood
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Horizontal well recompletion using the latest fracture stimulation technology
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Kiskatinaw Cecil K oil pool infill drilling and waterflood implementation
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Cashflow and reserve values are substantially increased using current commodity prices versus the price forecast in the Netherland, Sewell and Associates Inc. (NSAI) report
Technical presentations will begin on April 22, 2008 with non-binding proposals due on May 27, 2008.
For further information please contact:
| Tom Ebbern Managing Director, Investment Banking Tel: (403) 303-8656 Email: tebbern@tristonecapital.com |
Ian van Staalduinen Principal, Acquisition & Divestitures Tel: (403) 303-8660 Email: ianvan@tristonecapital.com |
