Bonterra's property portfolio consists of superior assets in the Western Canadian Sedimentary Basin with a reserve life index of approximately 18.7 years on a proved plus probable basis. The asset base is characterized by concentrated, stable and under-developed properties with large amounts of remaining oil and natural gas in place and low-risk, predictable reserves; providing Bonterra with a strong base to exploit a range of development and exploration opportunities.

Bonterra has three core areas of operations in Alberta, Saskatchewan and British Columbia. Major producing properties are located in the Pembina area of Alberta, the Shaunavon area in southwest Saskatchewan and in northeastern British Columbia. Bonterra has a range of interests in numerous properties and operates approximately 84 percent of its production. The company targets its capital development spending towards its long life oil and natural gas properties with established production profiles. This focus adds value through significantly lower than average decline rates when compared with our peers and provides substantial development opportunities through the use of new drilling technologies and enhanced oil recovery techniques.

Bonterra intends to maintain its financial flexibility so that it can continue to acquire exploration and development lands in the Pembina are of Alberta and pursue other drilling opportunities in Alberta, Saskatchewan and British Columbia. The company will continue to review and assess strategic producing and non-producing properties for acquisitions on an ongoing basis.