Drumlin Energy Corp.
Privately held Drumlin Energy Corp. has retained Rundle Energy Partners Ltd. to sell the company. The assets include an average 47.5% working interest (89% operated) in the Carmangay/Travers area in southern Alberta. Production is approximately 310 barrels of oil per day, weighted 63% light oil and 37% to gas with an additional 30 barrels per day behind pipe. The property is in the early stages of development and is a candidate for waterflood. Additional properties are in Brazeau River, Watts, Little Bow, Medicine Hat, Keho and Trout Creek. Total proved reserves updated to May 1 by Martin & Brusset Associates are 661,000 barrels of oil equivalent and total proved plus probable are 1.4 million barrels equivalent. The bid due date is June 23. Contact Bevin Wirzba, 403-298-9736.