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Standard Resources Inc. (“Standard”) specializes in oil focused opportunities throughout Central Alberta. With an improving
royalty regime, access to provincial drilling incentives, and focused operations, Standard can continue to exploit and develop oil
fields while increasing shareholder value.
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PRODUCTION: August 2009 production averaged 530 boe/d consisting of 444 bbl/d of light 35 API oil, 412 Mcf/d of solution gas,
and 17 bbl/d of NGLs. All of the production is obtained from four wells completed in the Rock Creek Formation, of the Niton ‘W’ Pool.
The ‘W’ pool is on a waterflood scheme with four water injection wells.
RESERVES: Based on the Engineering Report effective October 1, 2009, Total Proved Reserves of 1,089 Mboe (94% oil weighted) of
which 952 Mboe are Proved Developed Producing have been assigned. Additional Probable Reserves of 173 Mboe were also assigned in the
report.
GEOLOGY: The Jurassic aged Rock Creek sediments were deposited on a shallow marine shelf. Regionally the Rock Creek consists
of a variety of lithologies, including sandstones, coquinas, and shales, that unconformably overlay the Poker Chip Shales and in turn
are inconformably overlain by Fernie Formation shales. The Rock Creek in the Niton area consists of two stacked sandstone packages of
which the lower, thicker zone is the productive unit of Standard’s Niton ‘W’ Pool. This lower productive zone consists of permeable
dolomitic sandstones that are 5-6 meters thick with porosities ranging from 12-18%.
DEVELOPMENT POTENTIAL: The analogue ‘N’ Pool located 8 kilometers to the northeast has been on production since 1988 and has
cumulated 2,232 Mbbl of 33 API oil. Estimated OOIP is 6,261 Mbl with a primary recovery of 1,252 Mbbl (20% RF) and secondary recovery
via waterflood of 938 Mbbl (15% RF). To date this pool has already recovered 36% of the OOIP.
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