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Message: Meo Mulligan in Peace River Arch

Meo Mulligan in Peace River Arch

posted on Dec 17, 2007 03:25AM

To myoldman66.

I catch news this morning on CNW about Galleon in Peace River Arch

Galleon produce 3,000bbd from this area, is it possible that MEO can do the same ?

Drilled significant light oil discoveries in Eaglesham, Kimiwan and
McLeans Creek in the Peace River Arch area of Alberta which were
followed up with a successful exploitation program. Currently, light
oil production from these three new areas exceeds 3,000 Bopd. At
current crude oil prices exceeding $78 USD WTI, these areas have
operating netbacks of over $50/Bbl. Based on current commodity prices,
historical costs and average well productivity, the payout of each
successful well is less than one year. Galleon has identified more
than 80 locations on 3D seismic and plans to drill up to 35 wells in
2008.

Thanks

ecce

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