Petroleum and Natural Gas Leases -
Eberts Prospect

PROPERTY DESCRIPTION:
P&NG leases have been signed covering a total of approximately 546.325 hectares (1,350 acres) on the Eberts Prospect in Kent County, Chatham Township in Southwestern Ontario.

PROPERTY GEOLOGY:
A seismic line shows a pillow of B Salt isolated from the regional B Salt unit to the north and west and an overlaying anticlinal feature at the level of the Dundee Formation. This seismic interpretation is supported by the available well control. Bedrock is the Kettle Point Formation at about 17.1 metres (56’). The top of the Dundee Formation is at 123m (405’) and the top of the Columbus Sandstone at 155m (510’). Total depth is estimated at 170 metres.

The potential of the prospect has been compared to the Rodney Pool, which was discovered in 1949, covered an area of 745 hectares (1,840 acres) and had a cumulative oil production of approximately 10 million barrels to the end of 1999

CURRENT WORK PROGRAM:
A test oil well was drilled on the Eberts Prospect in Kent County Ontario to a depth of 523 feet to test the Devonian Formation. The zone identified by earlier seismic and well control proved to be water laden and as a result the prospect has been abandoned.