CALGARY, July 21 /CNW/ - Antler Creek Energy Corp. ("Antler Creek" or the "Company") is pleased to announce its capital and operating budget for 2010.
The Company anticipates a capital investment of approximately $17.5 million for the remainder of 2010. Approximately 94% ($16.4 million) of this amount will be spent on drilling and completions, with a further $1.1 million allocated to facilities and tie-in expenditures. The program will be funded entirely with available cash on hand. Based upon a capital budget of $17.5 million, Antler Creek is budgeting to exit 2010 with approximately $11 million in cash.
The budget includes plans for drilling and multi-stage fracture completion of up to 8.25 net wells targeting high quality light oil, including 6 net horizontal Slave Point wells on our Red Earth acreage and 2.25 net Bakken wells in southeast Saskatchewan.
Antler Creek expects to spud its first horizontal well in early August.
This thing is flying way below raydar and could easily double in 6 months if they can get Slave Point Carbonate flowing.
The royalty regime should improve the projected ecomomics of the play.
No comments:
Post a Comment