Running Fox has acquired an option interest in a high impact natural gas project in the lower Foothills area of Alberta known as the Pincher Creek Gas Field. The option interest is on 27 sections of development/exploration acreage (gross 17,280 acres of Pincher Creek Gas Field).
First well is a high impact horizontal gas well, spudded on August 6, 2005.
Potential of 30 to 80 Bcf gross reserves in the first spacing unit.
Mississippian-Rundle Production Zone is up to 592 feet thick, with average of 381 feet thickness. (Sprott Report)
The Company trades on the TSX-V with the symbol "RUN".
Pincher Creek High Impact-Development Drilling
immediate development and exploitation targets
2 well down-spacing proposal into an existing reservoir
30 to 80 Billion cubic feet reserves - P90 to P10 probabilities
Confirmed by Reservoir Pressure, 3D seismic and production declines in an off set well
Expected gas flow potential of 10 Mmcf to 35 Mmcf
secondary development targets
Option on contiguous 27 sections of development/exploration acreage (gross 17,280 acres of Pincher Creek Gas Field)
Basic development well deal terms, pay 30% to earn 30% Before Payout, then 15% APO, further exploration wells pay 25% to earn 15% net interests
Field Location
Offset Development and Farm-in to Exploration Lands
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