Drumlin Energy Corp.

Transaction Type
Marketers
Post Date
Estimated Price
0MM
Description

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.