The enormous resource potential, robust economics and solid results recorded by Bonterra in its horizontal Cardium drilling program continue to provide the Company with strong competitive advantages.

Bonterra drilled the first horizontal well (01-25-047-03W5) in the Pembina halo area in late 2008 which has averaged 101 BOE per producing day to date (March 2011).  This well has performed as expected, exhibiting a typical Cardium hyperbolic decline that is generally observed in the main Pembina pool.  The well has also tracked favorably with Sproule Associates Limited's predicted performance trend from the 3-D Reservoir Model that was completed in September, 2009.  This 3-D numerical model indicates that oil recoveries of up to 225,000 stock tank barrels per well are achievable in portions of the Cardium halo with similar well completion and reservoir characteristics. 

Bonterra's operations are defined by consistency and sustainability.  Bonterra's demonstrated history of year over year reserve and production growth on a per share basis is unparalleled in the energy industry.  Growth on a per share basis will remain a prime objective for Bonterra.

In 2011, Bonterra plans to drill at least 20 wells, predominantly in the halo area of the Pembina and Willesden Green Cardium fields with the remainder in the main pool of the Pembina Cardium field.  The Company plans to continue advancing its use of horizontal multi-stage frac technology in the mian part of the Pembina Cardium pool in 2011 by initiating an operated multi-well program in the second half of 2011 with the objective of changing the pool exploitation strategy to horizontal well development from vertical well development.   

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