Sayer Energy Advisors has been engaged to assist Yoho Resources Inc. (“Yoho” or the “Company”) with the sale of its prospective operated Montney natural gas property located in the Two Rivers area of British Columbia (the “Property”). In the Two Rivers area, Yoho holds working interests in and operates 22 sections of land (15.8 net sections), with 15.3 net sections of Montney rights that are prospective for liquids-rich natural gas.
With positive indications of natural gas in a significant section of the Montney, Yoho re-entered and recompleted the Upper Montney well Yoho Suncor Boundary 00/10-10-084-15W6/0 in 2010. The well tested natural gas a rate of approximately
300 Mcf/d. Yoho believes that this is a positive indication from a vertical well to support further horizontal development of the Upper Montney in the area.
A subsequent petrophysical evaluation identified significant potential in the Middle and Lower Montney intervals. This is consistent with the recent industry success in the Middle and Lower Montney which can be correlated and mapped across Yoho-interest lands.
The Property has some expiries in the form of drilling licences in which a significant amount of Company and offsetting land can be continued by drilling one earning well.
Summary information relating to this divestiture is attached to this correspondence. More specific information is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).
Proposals relating to this process will be accepted until 12:00 pm on Thursday, September 28, 2017.
For further information please feel free to contact Ben Rye, Tom Pavic, Jill Switzer or myself at 403.266.6133.
Alan W. Tambosso, P.Eng. P.Geol.
SAYER ENERGY ADVISORS
1620, 540 – 5th Avenue SW
Calgary, Alberta T2P 0M2
P: 403.266.6133 C: 403.650.8061 F: 403.266.4467