Bird River Resources Inc.’s oil interests and development properties are all located in the Williston Basin of southwestern Manitoba. The Williston Basin, often referred to as the Bakken, covers a huge area that includes parts of Montana, southern Saskatchewan, North Dakota and southwestern Manitoba.
Bird River Resources Inc. presently holds joint venture (JV) interests in 12 oil wells of which 10 are producing in southwestern Manitoba land are ocated near the towns of Sinclair, Pierson and Waskada. The wells were developed in conjunction with Antler River Resources of Pierson, Manitoba. The wells have been drilled into the Bakken, Lodgepole and Spearfish formations. The most recent wells were drilled into the Bakken formation and are producing light sweet crude.
Bird River Resources also holds interests in three lease holdings in southwestern Manitoba with interests ranging from 15% to 33 1/3%. Government leases are for a term of five years and private leases are negotiated and can be anywhere from one to five years with the usual term being three years. Once a lease is acquired the Company has the right to drill up to four vertical wells on a quarter section or horizontal wells with a 150 meter separation.
Bird River Resources reviews joint venture drilling opportunities with established operators in southwestern Manitoba, one of the last low cost drilling areas in Canada. The Company has land to be drilled and is actively seeking JV partners that are interested in participating.
For more information on the Bakken Formation click on the link
The natural resource exploration is a speculative venture. There is no certainty that any expenditure on exploration and development will result in the discovery of a producing oil well or economic mineral ore body. Revenues and cash flow from the Company’s resource investments will be influenced by oil & gas prices and/or metal prices and the related production costs. Oil & gas and metal prices have fluctuated widely and continue to do so due to numerous factors beyond the Company's control.
Bird River Resources Inc. shares trade on the Canadian Securities Exchange (CSE). 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.
To drill a vertical well in south-western area of Manitoba will cost in excess of $500,000 a horizontal well will cost about $1,500,000.
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.
1059 Selkirk Avenue
Winnipeg Manitoba Canada R2X 0C2