Severo Energy Corp.

In 2006, to facilitate development of minor assets in the Athabasca core area, PET transferred certain assets in the Radway /Abee area to a newly formed private company, Severo Energy Corp.  Paramount Energy Trust currently has an indirect ownership of 93% in Severo.

Production in Severo's core area is primarily derived from the 2 WS, Colony, Viking, Glauconite, Ellerslie and Wabamum formations. Drilling depths are typically less than 850 meters and initial reservoir pressures average 5000 kPa. Initial well productivity ranges from 250 to 1000 Mcf/d. Pools are found using detailed mapping and extensive 2D and 3D seismic technology.

Currently, Severo Energy Corp.'s business strategy will concentrate on continued growth in the core area of Big Bend/ Radway through recompletions, low risk drills and synergistic consolidating acquistions.

 2.16 MMcf/d

5.374 Bcf

Net Acres

53,479