2009-08-11-2007-12-01-2007-12-01

Acquired assets in Long Coulee area with 20 producing wells with 5 PUD and 7 probable locations, 24 net sections undeveloped land. Production 955 BO/d. Proved 5.6 Bcfe, 2P 9 Bcfe. Also 53 sq. mi. 3-D seismic, 50.4 km. pipelines, 12.5 MMcf/d plant capacity.

Compton Petroleum Corp., Calgary, (NYSE: CMZ) has acquired producing assets in the Long Coulee area of southern Alberta from an undisclosed seller for C$33 million. The assets include 20 producing wells with five proven undeveloped and seven probable locations and 24 net sections of undeveloped land. Production is 955 barrels of oil per day. Proved reserves are 5.6 billion cubic feet equivalent and proved plus probable are 9 billion equivalent. Additional assets include 53 square miles of 3-D proprietary seismic, 50.4 kilometers of pipelines and 12.5 million cubic feet per day of plant capacity. Compton valued the land and seismic at C$5.4 million and the facilities at C$1 million. The deal values production at C$27,853 per barrels of oil equivalent per day and proved plus probable reserves at C$17.67 per barrel of oil equivalent. The 3-D seismic base includes approximately 10 sections of existing Compton land-holding. The company reports, "Strategically this acquisition enhances our existing Long Coulee operations by accelerating the pace at which we can develop our adjacent acreage through utilization of pipeline, processing facilities and proprietary 3-D seismic data included in the acquisition."