Dividend Information

Amount: Cdn $0.26
Ex-Dividend Date: 2012-02-13
Record Date: 2012-02-15
Payment Date: 2012-02-29

Location

Head Office
Suite 901, 1015 4th Street S.W.
Calgary, Alberta, Canada
Telephone: (403) 262-5307
info@bonterraenergy.com
BNEC$55.27-0.33-0.594%

Last updated: Feb 3, 2012 16:00 ET

Cardium

Introduction
Bonterra is the third largest operator in the Pembina Cardium field, Canada's largest conventional light oil field, with approximately 160 gross (117 net) sections including 27.5 gross (23.9 net) sections in the halo area. 
 
In 2011, the Company will spend $50 to $60 million on its capital development program focused mainly on its horizontal drill program.  Full year production rates are expected to average between 6,200 to 6,500 BOE per day, an increase of 10 to 15 percent over 2010 levels.

 

Main Pool

Bonterra participated in successfully drilling five gross (0.75 net) non-operated horizontal Berrymoor Cardium Unit wells in the main part of the Pembina Cardium pool. The Company plans to further advance the use of horizontal multi-stage technology in 2011 with the objective of converting some identified vertical locations to horizontal locations.

 

Key Facts:

  • 98.4 gross (82.3 net) sections

  • 5 gross (0.75 net) wells drilled in 2010

  • 6 gross (2.9 net) wells planned in 2011

West Pembina
 

West Pembina

The West Pembina area was a key focus for the Company in 2010. Bonterra's development plans in 2011 will involve completing development of the area to four wells per section. 

 Key Facts:

 - 4 gross (3.75 net) sections
 - 12 wells drilled in 2010
 - 4 gross (3 net) wells planned in 2011
 - 278,310 Bbls of cumulative oil production (02/28/2011)
 - 2,845.1 MBOE Proved Reserves
 - 4,062.1 MBOE Proved plus Probable reserves 

East Carnwood

Bonterra will look to follow up on the success of the 15-22-48-05W5 in this area with its 2011 capital development program.

Key Facts:
- 5.5 gross (4.375 net) sections
- 5 gross (4.25 net) wells drilled in 2010
- 5 gross (3.75 net) planned in 2011
- 93,157 Bbls of cumulative oil production (02/28/2011)
- 1,846 MBOE Proved reserves; 3,139.6 MBOE Proved plus Probable reserves

Willesden Green
This area provides the Company with a large potential for future reserve growth and will be an important component of the 2011 capital development program. 
Key Facts:
  • 5 gross (4.875 net) section
  • 4 gross (3.75 net) wells drilled in 2010
  • 5 gross (5 net) wells planned in 2011
  • 17,211 Bbls of cumulative oil production (02/28/2011)
  • 251.3 MBOE Proved reserves; 838.1 MBOE Proved plus Probable reserves
Warburg

Bonterra has recorded success in this area, the initial area of development.  It has demonstrated potential for low-risk and repeatable infill development. 

 

Key Facts:

    

- 7.75 gross (5.3 net) sections

- 3 gross (1.4 net) wells planned in 2011

- 354,075 Bbls of cumulative oil production (02/28/2011)

- 1,409 MBOE Proved reserves; 2,197 Proved plus Probable reserves