• Drilled four (3 net) wells
  - one horizontal
  - three vertical
• Producing 30 (25 net) bopd from two wells
• 3D seismic  has identified Upper Shaunavon anomalies
• All wells drilled to date have encountered Lower Shaunavon oil bearing formation
• Proposing to drill horizontal multi-stage fracture well to further evaluate the Lower Shaunavon
• Expect 3D seismic results by December 2011
• Looking for partners to develop the Lower Shaunavon

Leon Lake Project Upper Shaunavon Potential

Leon Lake Project Lower Shaunavon Potential