Newfoundland
Shoal Point Energy Ltd. will gradually acquire 100% working interest from NWest Energy Corp. in 500,000 acres in Exploration License 1079R offshore western Newfoundland.
The NWest-Shoal Point deal provides NWest shareholders with ongoing exposure to the offshore Green Point tight oil play in western Newfoundland both on EL 1079R and, by virtue of its equity ownership in Shoal Point, on the other projects being operated by Shoal Point in western Newfoundland.
Nova Scotia
Forent Energy Ltd., Calgary, plans to spud an exploratory well in February on the 514,000-acre Alton block in the Stewiacke Valley south of Truro, NS.
Forent completed a $1.6 million gravity gradiometry survey on the block in 2010 and a 65 line-km 2D seismic survey in mid-2011.
The company has identified 15 Carboniferous Gays River reef drilling targets with a mean resource size of 26 million bbl of OOIP each. Three wells are planned to depths of 900 m. Forent has 100% working interest.
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