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The following is a description of our Northern District oil and natural gas properties as at December 31, 2007:
West Side - This area includes assets west of Alberta Highway 63 which are predominately the legacy assets discovered and developed by Paramount Resources Ltd. in the Devonian Grosmont and overlying Cretaceous McMurray and Wabiskaw formations.
Significant areas of production in this core area include: Ells, Legend/East Legend, Liege, Saleski, Teepee Creek and Woodenhouse.
In 2007 this core area comprised of 394,469 gross (298,492 net) developed acres produced an average of 42.5 MMcfe/d of natural gas production from 336 gross (283.5 net) producing wells.
East Side - The region is comprised of assets east of Alberta Highway 63, including Cold Lake, and production is mainly from Cretaceous Clearwater and Grand Rapids/Colony reservoirs. the majority of the 28 MMcf/d of shut-in gas related to the gas over bitumen issue is in the Wabiskaw-McMurray formation in this core area.
Significant areas of production in this corea area include: Chard/Kettle/Quigley, Cold Lake, Corner/Leismer, Craigend and Thornbury.
In 2007 this core area comprised of 583,935 gross (440,027 net) developed acres produced an average of 27.0 MMcfe/d of natural gas from 459 gross (358.2 net) producing wells.
Athabasca - This is Paramount Energy Trust's largest core area and includes assets south and west of PET's original assets in the West Side core area. Production is from multiple stratigraphic horizons including Cretaceous clastic and Devonian carbonate reservoirs. Significant areas of production in this core area include: Calling Lake, Marten Hills, Mistahae, Mitsue, Panny, Peter Lake and Wabasca/Hoole.
In 2007 this core area comprised of 502,426 gross (318,399 net) developed acres produced an average of 56.8 MMcfe/d of natural gas production from 455 gross (320.6 net) producing wells.
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