PRIMARY PETROLEUM (PIE:TSX.V
and PETEF: PK) is pleased to provide you with the following information that issued by the
BMO Capital Markets Energy Specialty Sales & Trading
Alberta Basin Bakken/Exshaw / Good Overview Document from U.S.
Department of Indian Affairs: late last week, The U.S.
Department of Indian Affairs published a short, but good report titled "Blackfeet Reservation: New Oil and Gas Exploration & Development"; the report is a great summary of activity in the emerging Alberta Basin Bakken/Exshaw play in northern Montana, where Rosetta, Newfield and Anschutz are testing new play concepts -
Cdn listed Primary Petroleum (PIE.CN) also has a significant land position in Montana; north of border, Crescent Point and Shell are actively drilling wells in southern Alberta, while Murphy and Nexen have established material land positions and are planning appraisal programs in 2011; Bowood Energy, DeeThree, Wild Stream and Argosy are smaller-cap with exposure to these emerging plays - feels like H1 2011 could see a lot of news flow from this play; TAKEAWAYS: 1) the report notes that Rosetta and Newfield have been targeting the Bakken/Exshaw on the Blackfeet Reservation and in addition
Anschutz Exploration has been targeting the Upper Cretaceous Second White Specks on the Reservation (Murphy Oil noted on their Q3 conference call that their appraisal program in January will target the shallower Cretaceous Second White Specks on their Blood Indian lands in southern Alberta); 2) Figures 5 & 6 of the report show Bakken/Exshaw exploration activity and seismic lines on the Blackfeet Reservation vis-à-vis Rosetta locations in the Gunsight & Landside Butte areas; 3) in 2009, Newfield signed an agreement with the Blackfeet Tribe on ~156,000 net acres, which is the largest agreement ever signed by the tribe and requires the drilling of 8 exploratory wells by the end of 2010 and full-scale development of a portion of the Southern Alberta Basin through 2014 – including at least one deep well per year; see link to full report
: http://www.bia.gov/idc/groups/xieed/documents/text/idc012356.pdf
Regards
PRIMARY PETROLEUM CORPORATION
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Primary Petroleum Corp
Suite 800, 744 4th Avenue SW
Calgary Alberta T2P 3T4
Canada
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