Spitfire Energy Ltd. (Spitfire) is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids in Western Canada. The Company?s activities are concentrated in three core geographic areas: central Alberta, southern Alberta and southwest Saskatchewan. As at March 31, 2008, Spitfire owned 20,251 net acres of undeveloped land, representing. The Company owns an average 68% working interest in its undeveloped lands. In Saskatchewan, the Company?s properties include Fosterton Area, Verlo, Antelope and Paradise Hills. During the fiscal year ended March 31, 2008 (fiscal 2008), approximately 75% of Spitfire?s overall production was crude oil. During fiscal 2007, its average production was 306 barrels of oil equivalent per day.(Source: ARS)
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