It is technically known as the Williston Basin but it is commonly referred to as the Bakken. The Williston Basin is a huge area covering parts of Montana, southern Saskatchewan, North Dakota and southwestern Manitoba. It is a literal ocean of oil.
Bird River President, Nelson Shodine after touring and investigating the activity in the southwestern oil patch area of Manitoba is warning that ‘THE BIG OIL COMPANIES ARE COMING’. If our Company wants to get in on one of the few remaining low cost oil plays in Canada we must act now.
One major player in the area is operating six oil drilling rigs drilling night and day. A lease holder is allowed to drill four vertical wells on a quarter section or horizontal wells with a hundred and fifty meter separation. It appearts that this Company often only drills one well on a quarter. Thereby they can tye up a mile of property by drilling four wells and fill in the balance at a later date. Their ephasis seems to be gaining ground now and oil later.
Government leases are five years and private leases are negotiated and can be anywhere from one to five years with the usual time being three years. As the area heats up with more participants negotiations and royalties get tougher. Remember when you have that lease you have the right to drill all the wells allowed on that lease.
If our Company acts quickly we can still become a fair sized participant in one of last low cost drilling areas in Canada. If we have the land where the oil is being found we should have little trouble raising the required additional funds.
We are already in negotiation to partner up with a private Company for the land acquisition and whatever other area oil related projects may develop. I am sure you understand the need for secrecy until negotiations are completed. We are fortunate to be dealing with a Company whose owners are of sterling character.
Negotiations between Bird River and the Manitoba oil producing Company are near completion. Verbal agreement has been made and the participating party has asked for anonymity until after the signing. We respect this request. The would should could includes property leases as well as participation in drill programs. Details will be forthcoming at the appropriate time.
Bird River Resources Inc. shares trade on the CNSX exchange. The symbol is BDR. This is an opportunity for Manitoba investors to participate in a Manitoba publicly traded Company and reap the rewards of owning a share of a Manitoba resource. One must remember that oil exploration is not risk free. However new technology has reduced that risk.
There are few sectors that offer investors more upside potential than junior oil and mining stocks. Sure they are risky by definition. Any investment that can go up by 100% to 1000% almost overnight has to carry a lot of risk. The good news is that by doing careful due diligence you can eliminate much of that risk.
To drill a vertical well in south-western area of Manitoba it will cost approximately 500 hundred thousand dollars. A horizontal well here will cost about one and a quarter million.
Compare this with southern Saskatchewan at about two million plus or with North Dakota at a cost five million or more. This is another good reason for looking towards investing in the Manitoba oil patch through Bird River Resources Inc.
Bird River is currently the only publically traded Manitoba company involved in drilling and developing new oil wells.
Telephone:
(204) 589-2848
Fax:
(204) 586-6238
Email:
shodine@mts.net
Bird River Resources Inc.