 Crown Point Ventures Ltd. along with Interwest Enterprises was successful in acquiring 100% of the petroleum and natural gas rights in 3 ½ sections (896 ha) in the Wapella area at the April 7/08 Saskatchewan crown sale for an average price of $54.65/ac or $136.64/ha. These lands encompass an area of potential bypassed oil pay in the Bakken Sandstone delineated by log analysis, sample shows and drill stem test results in wells dating back to the 1950’s . Oil is interpreted to be trapped in tidal channels in the Devonian Bakken Sandstone, analogous to the Rocanville field 12 miles to the northeast which has produced close to five million barrels of light
oil.
Prior to the sale CP/IW was able to acquire partial rights in an additional 5 sections of freehold mineral rights in the heart of the same play.
The drilling of two exploratory wells is planned for the summer.
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