Northern Alberta — First Nations Joint Ventures

  • Approximately 75,000 gross acres for access and development inside the land claim
  • Approximately 90,000 gross acres for development outside the land claim in identified 2 mile perimeter currently tendered as Joint Venture — Cougar 85% and operator
  • Light crude and natural gas prospects

Project Status:

  • Negotiations underway to develop and finalize Joint Venture agreements with communities to develop oil and natural gas prospects within the Peerless Lake and Trout Lake land claim.
  • In Parallel – Develop Joint Venture agreement to acquire, explore, develop and operate adjacent lands to the benefit of both Cougar and the communities of Peerless Lake and Trout Lake — Native Joint Ventures have priority with province over other industry and thus reduced competition for a
  • Cougar/Peerless/Trout JV

Operating Plan — 2011/2012:

  • Explore and develop lands already identified by 2D and 3D seismic acquired – targeting Keg River light oil prospects
  • Acquire additional seismic and perform drilling programs
  • Execute similar maintenance programs on existing wells as Trout properties
  • Acquire additional lands adjacent to the land claim in a Joint Venture structure 85/15