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Ammonite Nova Scotia Corporation ULC (“Ammonite”) is the 100% holder of Canada Nova Scotia Offshore Petroleum Board (CNSOPB) Exploration licenses #2417 and #2418 awarded to Ammonite Holdings and Catheart Energy June 2008. The licenses are near the Sable Island complex of natural gas fields operated by ExxonMobil Canada Ltd. that delivers about 400 million cubic feet of gas per day, by pipeline, to Atlantic Canada and the New England States.
Ammonite would like to put together a consortium of petroleum industry and financial investors to fund further exploration, appraisal and development of the licenses. A technically innovative and well capitalized company with North Atlantic, or North Sea, operating and field development experience, is being sought to serve as operator for the consortium. We anticipate beginning drilling operations in 2010. Geotechnical studies are currently in progress.
Ammonite reserves the right to withdraw the offered participation at any time without prior notice. Participation is subject to prior sale. |
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EL #2417 & EL 2418
¨ Mean estimated recoverable contingent resources of 500 BCF gas and 22 MM barrels light gravity oil identified by prior drilling, with additional highly prospective undrilled structures mapped by 3D seismic; ¨ Shallow water; ¨ Attractive fiscal terms; ¨ Political stability; and ¨ A nearby pipeline to a major gas market |
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EL #2417 |
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