Two new properties are now available on PNG Exchange.
Property: Grand Prairie – Montney
Company: Resourceful Petroleum Canada Limited
- Five-year Northern P&NG Lease was originally acquired in August 2018. There are 12 net undeveloped sections (3072 net hectares; 7680 net acres) contained within the lease.
- 100% working interest currently unencumbered except for the applicable Crown royalties
- Lease is currently in its second season of a 5-year primary term and expires in August 2023.
- Extensive area development and infrastructure with major industry players including, Velvet, Pipestone, and Inception.
Property: Rainbow Lake – Jean Marie
Company: Resourceful Petroleum Canada Limited
- Opportunity to participate in a previously unrecognized tight carbonate oil resource play
- Contiguous net undeveloped land position – 20 net sections (100%).
- No land expiries until Q3 2022.
- Four-year Northern P&NG License was originally acquired in August 2018.
- There are 20 net undeveloped sections (5120 net hectares; 12,800 net acres) contained within the license including 13.75 net undeveloped sections (3520 net hectares; 8800 acres) of Jean Marie rights.
- P&NG rights held in conjunction with the Devonian Jean Marie Formation within the License may allow for additional upside development
- 100% working interest currently unencumbered except for the applicable Crown royalties
- License is currently in its second season of a 4-year primary term and expires in August 2022.
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