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Cougar Energy, Inc. is a private subsidiary of Kodiak Energy, Inc. and incorporated in the province of Alberta, Canada. To enable Kodiak to achieve value for shareholders in the current market conditions, the subsidiary company was formed as a vehicle for financing purposes to move the Lucy and CREEnergy projects forward. With this structure, Kodiak transferred the Lucy and CREEnergy projects to the subsidiary in exchange for shares in the subsidiary. Cougar Energy, Inc. will enable Kodiak to finance the Lucy and CREEnergy projects and avoid dilution to Kodiak's projects.
RESERVES ASSESSMENT AND EVALUATION OF CANADIAN OIL AND GAS PROPERTIES
CORPORATE SUMMARY AND INDIVIDUAL PROPERTY REPORTS
Reserves Assessment Report (PDF)
MANAGEMENT DISCUSSION OF CORE PROJECT AREAS
Management Discussion - Oct 2009 (PDF)
CREEnergy JOINT VENTURE, N. Central Alberta
Resources Oil, gas, heavy oil
Gross Acreage ~46,000 (Phase 1 - earned interest with an overall total of ~345,000 exclusive opportunity to earn)
Working Interest 100%
Status Signed joint venture agreement in Q4 2008 to develop identified oil
and gas projects
- CREEnergy recognizes that the value of the relationship comes from success and has not restricted the land selections, other than traditional significance and community commercial and residential lands
- Geological prospects include a range of conventional oil and natural gas reservoirs from approximately 400 meters to 1,800 meters (1,300 feet to 5,900 feet) in depth and shallower heavy oil reservoirs
LUCY, British Columbia (HORN RIVER BASIN)
Resources Shale Gas
Gross Acreage ~1,920
Working Interest 80%
Status 2 wells drilled and cased; proposed work program of Phase I -- perform a
vertical frac on one well, tie-in and production test; upon successful
of Phase 1, implement Phase II -- drill a horizontal leg from the second well
and perform a staged horizontal frac
- Substantial long term upside through developing a high impact Muskwa/Evie shale gas play
- Close to existing infrastructure -- pipeline, roads
- Estimated 123 Bcf of gas in place and 60m pay zone, according to engineering report
Last Updated Nov 10, 2009 |
