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Exploration Properties
Principal assets are the working interests owned in the Pine Creek oil and natural gas property, located in northwestern Alberta and the working interests owned in the Hollow natural gas property, located in northeastern Alberta.
Pine Creek Property, Alberta
Huntington owns varying interests in five sections of oil and gas leases in TWP 56, RGE 20, W4M in Alberta.
Huntington participated as to a 25% working interest (reduced to 16.667% after payout of all costs) in the oil and gas discovery well, GPI 6-32-56-20 W5M, located in the Pine Creek area northwest of Edmonton. This well was placed on production effective July 30, 2005.
The second well in the program, GPI 14-21-56-20 W5M, has been initially completed and production commenced on October 27, 2005. Huntington has a 16.667% working interest, reduced to 11.667% after payout of all its costs.
The third well in the Pine Creek drilling program, GPI 15-10-56-20 W5M, has been drilled, and is currently in the process of evaluation and completion. The well was drilled under the terms of a farm-out agreement whereby Huntington has a 16.667% working interest, reduced to 10.834% after payout of all costs.
The fourth well in the program, GPI 7-36-55-20 W5M, has been drilled and is currently in the process of evaluation and completion. This well is on joint lands in which Huntington has a 16.667% working interest.
There are currently plans being formulated to drill additional wells on the Pine Creek joint interest lands during 2006.
Hollow Area, Alberta
In October, 2005, Huntington participated as to a 25% working interest in a 3D seismic acquisition program located in the Hollow area under terms whereby it could participate in a farm-out well to earn an interest in the subject lands. Interpretation of the seismic data acquired resulted in Huntington participating in drilling the well as to a 25% working interest (reduced to 15% after payout). The well, TKE et al Hollow 15-7-61-20-W4M, has been drilled, tested and is currently in the process of evaluation and completion.
Steen River Area, Alberta
Huntington has a commitment, subject to certain conditions, to participate in two exploratory wells during the winter 2005-06.
Huntington is involved in the acquisition of additional oil and gas exploration prospects that are at an early stage of development.
For more info, please contact us. We are looking forward to talking to you.
