The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Forge Oil & Gas Ltd. has made the decision to consolidate its limited capital on a single core property, and as such the Greater Bonnie Glen Rex/Spirit River oil and shallow gas assets are being made available for divestiture.

Forge will consider all proposals with a preference to sell the assets located southwest of Edmonton in East-Central, Alberta for cash, according to Energy Advisors Group Inc. (EAG), which Forge retained to handle the sale.

Package One:

Emerging Horizontal Rex Oil Play (16° API) – Upper Mannville (Rex/Spirit River) 370 million barrels OOIP and four horizontal wells drilled (two on production, two waiting solution gas tie-in)

  • Large land base of 45 contiguous sections in three strike areas: Bonnie Glen, Ferrybank and Honeysuckle;
  • Eight well/section Rex oil horizontal development drilling opportunity;
  • New generation horizontal drill and completion techniques yielding excellent economics;
  • Proven horizontal play with successful offsetting producing wells drilled by numerous operators
  • Existing oil production in the Honeysuckle;
  • Standing Rex oil wells in Bonnie Glen awaiting solution gas tie-in.
  • Production: 45 barrels of oil equivalent per day (boe/d), immediate tie-in and bypassed pay drilling upside gain of 245 boe/d; and
  • LLR of 4.0.

Package Two:

Established Shallow Gas Production Basin with drilling and tie-in upside

  • Production: 300,000 cubic feet per day (50 boe/d), immediate tie-in and bypassed pay drilling upside gain of 167 boe/d;
  • Producing gas wells in Bonnie Glen and Ferrybank; and
  • LLR of 1.4 combined LLR of 1.9 can be increased to over 2.0 by tieing-in two existing drilled and completed Rex oil wells.

The plan continues to be derisked and developed by offset operators.

Highlights:

  • Two Wells. Two Untied Wells 45 Sections.
  • U Mannville; Rex Oil; Spirit River
  • Bonnie Glen, Ferrybank and Honeysuckle Areas
  • Heavy Oil; Shallow Gas
  • Proven Play. Successful Offset Operators
  • Low Risk; Long Horizontals
  • 100% Operated Working Interest. About 70/30 Crown & FH
  • Limited Current: 46 barrels per day (bbl/d) of Oil and 100,000 cubic feet per day of Gas
  • Tie In Rex Oil: 170 bbl/d of Oil and 450,000 cubic feet per day of Gas
  • OOIP: 370 million barrels
  • Play Requires Capex greater than $50 Million
  • Offset Gas Project Helps Heavy Oil Asset
  • Pipeline/Processing Infrastructure In Place
  • Seeking Sale and Capex To Develop
Forge Oil & Gas Mannville Development Asset Map (Source: Energy Advisors Group Inc.)

Click here to view the online data room or visit energyadvisors.com/deals to view our other 30-plus assignments. For more information, contact Steve Henrich, director with EAG, at shenrich@energyadvisors.com or 713-600-0123.

Onshore