Yangarra Resources Ltd.Yangarra Resources Ltd.Yangarra Resources Ltd.TSX Venture: AYX
TSX Venture: AYX
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 Activity Updates


February 8, 2010


Special Meeting of the Shareholders to be held on Thursday, March 4, 2010  


December 31, 2009


Yangarra completes terms of Restructuring (see press releases dated December 31st 2009)  


October 8, 2009


Yangarra files a Proposal with its creditors to restructure the company (see press release dated October 8th for complete details).  


May 30, 2008


MEDICINE HAT

Management's review of the shallow tight gas horizons has reinforced its view that Medicine Hat is a resource play. Further development and exploratory wells are planned for the area.
42 sections of land have been purchased by the Company in 2008.


JASLAN
One 100% interest well expected to be tied-in and on stream late fall 2008. Further drill locations have been surveyed in the area.
 


December 12, 2005


December 12, 2005

Yangarra Resources Inc. and TriOil Ltd. have successfully completed the merger of the two companies to form Yangarra Resources Ltd. as of November 9, 2005. The new company has 1,574 Mboe of Proven Reserves and 1,271 Mboe of Probable Reserves. The amalgamated company has a $10 million debt and working capital deficiency, with $11.5 million line of credit in place and current annualized cash flow of $9.9 million. Yangarra Resources Ltd. has 110,000 gross and 91,200 net undeveloped acres, which have been independently evaluated at $5.7 million. In addition, the Company has 31,000 gross acres of farm-in lands upon which it has the opportunity to drill to earn.

Medicine Hat – 100% working interest
Yangarra has 135 sections of land, plus an additional 29 sections available under farm-in terms from two different companies. Current production is 250 boe/d of gas through the company owned facility.
2 deep wells, 3 shallow wells, as well as an additional deep well which the company earned a 40% working interest for tieing in of the well to our facility; are all currently being tied into the compressor station (100% working interest) at 5-25-9-6W4. 1-3 additional deep tests will be drilled in late Q4 or early Q1/06 and a 40 well program is being planned for mid summer, 2006.

Ferrier – Average 40% working interest
Yangarra has 23 sections of land, plus an additional 11 sections available under farm-in terms. The current production is 250 boe/d net to the company of gas, oil and NGL’s. 3 wells are currently being tied into the company owned facility at 2-4-41-7W5 (50% working interest), 1 well currently drilling under farm-out terms (Yangarra has a carried 19.75% working interest) and 1 well planned for late Q4 or early Q1/06 (37.5% working interest APO). Drilling plans for 2006 include up to 5 development oil wells and 5 deep gas wells.

Mundare
Yangarra has 9 sections (30% working interest) plus 2 sections available under farm-in terms. Nine wells currently produce 200 boe/d of gas with 2 wells planned for Q1/06 and further drilling of 1-4 wells planned for 2006.

Jaslan
Yangarra has 7 sections (37.5% working interest) and 5 sections (100% working interest) with one well producing 10 boe/d net to the company. A 100% working interest well is planned for Q4, with extensive seismic currently being shot for Yangarra. Plans call for the installation of a gathering system and boost compression for Q1/06 and a follow-up 3-6 well drilling program for 2006. The area is characterized by shallow, multizone gas potential with crown land available for future growth.

Peace River Arch (100% working interest)
Yangarra has farm-in terms on 10 sections of land in the Mega area (north of Cranberry) of Alberta. Extensive seismic was acquired in the area and 1-2 wells are planned for Q1/06.


NON CORE
Bayhurst, Saskatchewan – 30 % working interest
1 well has been drilled in Q4/05 and another is planned for Q1/06. A total of 10 gas wells are standing and a development plan is being formulated. The company owns 18 sections in the area and 17 sections are being earned by drilling under farm-in arrangements.

Paradise Valley, Alberta
This property has recently been sold.

Smoky Heights, Alberta
A review of the property will commence in 2006.

Chinook/Provost, Alberta
A review of the property will commence in 2006.

 


February 9, 2005


MEDICINE HAT (50 % Working Interest)

10 wells were drilled and 12 wells were put on stream during Q4/2004. One of the 10 wells was a Sunburst test, which was successful and absolute open flow (AOF) tested at 12.75 million cubic/day. As the productive zone is over water, the well is restricted to 300 mcf/day. The shallow wells continue to be stable at approximately 75 mcf/day. Water rates on the latest round of shallow wells are two times lower than previous shallow wells due to wetter zones being avoided during completion. The water disposal and gathering system is working well and has significantly reduced operating costs. On-stream costs in the last round of drilling were less than $13,000 per producing BOE (6-1). Current production net to Yangarra is 180 BOE/day (6-1).

FERRIER / BRAZEAU

Current production at Ferrier is 305 BOE/day. One gas well was drilled, cased and completed in Q4/2004, with plans underway to tie it in by spring. Two standing gas wells were tied into the company owned (50% working interest) compressor station in Q1/2005.
Drilling plans include two Viking oil wells and one Rock Creek gas test for the first half of 2005.
 

 

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