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Anglo Canadian Oil Signs Pooling-Farm-In Agreement with Quatro Resources

By Joel ScanlonJun 20 2011

Anglo Canadian Oil has signed a Pooling-Farm-in Agreement with Quatro Resources.

According to the pooling agreement, Anglo will offer five sections of the potential Nordegg bearing lands and Quatro will offer seven sections of the potential Nordegg and Montney bearing lands. Quatro will continue to have a 70% working interest in the pooled lands and the remaining 30% will be held by Anglo. All lands belonging to Anglo and Quatro are contiguous and are located in the Ante Creek North region of west central Alberta. Anglo also gets Montney, a second target, to drill at little or no extra drilling cost.

Anglo will drill one Montney-Nordegg land at the original Quatro acreage and therefore can earn a 75% working interest in the four sections of the pooled lands. The company considers two option wells in this agreement. When Anglo drills the first option well, it will earn a 75% working interest in the three additional sections of the lands and in the second option it earns 75% working interest in the remaining pooled lands.

It is anticipated that this well will be spud in August. The company has also drilled and cased the Dodsland 6-22 and 4-29 wells and completed the 6-22 well.

Source: http://www.anglocanadianoil.com/

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

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APA
Scanlon, Joel. (2019, March 19). Anglo Canadian Oil Signs Pooling-Farm-In Agreement with Quatro Resources. AZoMining. Retrieved on April 18, 2024 from https://www.azomining.com/News.aspx?newsID=4304.
MLA
Scanlon, Joel. "Anglo Canadian Oil Signs Pooling-Farm-In Agreement with Quatro Resources". AZoMining. 18 April 2024. <https://www.azomining.com/News.aspx?newsID=4304>.
Chicago
Scanlon, Joel. "Anglo Canadian Oil Signs Pooling-Farm-In Agreement with Quatro Resources". AZoMining. https://www.azomining.com/News.aspx?newsID=4304. (accessed April 18, 2024).
Harvard
Scanlon, Joel. 2019. Anglo Canadian Oil Signs Pooling-Farm-In Agreement with Quatro Resources. AZoMining, viewed 18 April 2024, https://www.azomining.com/News.aspx?newsID=4304.