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Goodwin Prospect Central Alberta, Canada

Overview


Swan Hills Project

The Swan Hills Project is located in the Central Alberta Basin, Alberta, Canada. The primary exploration objective is the Swan Hills Formation at approximately 9,000 feet. Secondary objectives will include the Mississippian Pekisko and Devonian Gilwood formations. Potential reserves in the Swan Hills Formation range from 20 to 100 Bcfg (billion cubic feet of gas).

We, through our wholly-owned subsidiary, GeoPetro Canada, have reviewed 3-D seismic data over the prospect and plan to participate in the drilling of a test well. We have a 33% working interest in approximately 4,480 leased acres.

Goodwin Prospect

The Company owns a 50% working interest in the Goodwin Prospect, which is located in the Central Alberta Basin, Canada. A total of 12,000 acres can be earned by the Company by the drilling of wells. The primary exploration objective is the Lower Cretaceous Falher formation. Based on 3-D seismic and well control, a sandstone channel is present with potential reserves estimated at 3-5 Bcf per well. A secondary objective is the lower Jurassic Nordegg formation. Deeper Mississippian and Devonian leads have also been identified on 3-D seismic.

The main zone of interest in the Goodwin area is the Falher E Member of the Spirit River Formation. The Falher Member is Lower Albian in age (Lower Cretaceous). The Falher is transitionally conformable with both the overlying Notikewin Sand and the underlying Wilrich Shale.

The Goodwin area lies south of the east-west trending barrier sands and conglomerates inland of the "traditional" Falher producing area. The sands of interest have a north-south orientation (perpendicular to the barriers) and have a limited width of approximately 0.5 mile with abrupt lateral terminations. The reservoir sands are interpreted as being part of channels within estuaries and/or incised valleys with abrupt lateral facies changes to non-marine shales and silts of the non-reservoir coastal plain environment.