Open Range Energy Corp. is an oil and natural gas exploration company engaged in the exploration, development and acquisition of oil and natural gas in the Deep Basin of west central Alberta. The Company focuses on exploration and development drilling of prospects in its core area at Ansell/Sundance. Open Range has established a drilling inventory of approximately 25 development and 25 exploratory locations, as at December 31, 2007, in Ansell/Sundance area. Open Range is the operator of this property and controls approximately 50 sections of land with an average working interest of 50%. During the year ended December 31, 2007, Open Range drilled 12 gross (6.2 net) wells encountering on average 3.9 productive pay zones per well in Ansell/Sundance. Production in 2007, averaged 973 barrels of oil equivalent per day. Reserves at Ansell/Sundance account for 65% of the Company?s total proved plus probable reserves. The Company's other properties include Ferrier, Garrington and Big Bend.(Source: ARS)
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