West Energy Ltd. is a public
energy company engaged in the exploration for, and
the exploitation, development and production of, crude
oil and natural gas in Western Canada.
West commenced operations in 2003 and became a publicly
listed entity on the Toronto Stock Exchange under the
symbol “WTL” on October 8, 2004.
West has been an active explorer in the Pembina area,
traditionally focusing its efforts primarily for prolific
light oil plays in the Nisku reef formations. West now
has production from 16 wells along this trend in the
Lodgepole, Violet Grove, Paddy Creek, East Pembina and
Crossfire areas. West also has two large facility complexes
at Paddy Creek and Crossfire. The results of this activity
have been to establish West as one of the major players
along the Nisku trend.
West will continue to expand its operations in the eastern
portion of the Nisku trend after establishing the existence
of hydrocarbon bearing reef structures to the north east
of the trend in a well at Township 51, Range 5 W5 drilled
in late 2007. A further successful well drilled at 9-1-50-6W5
in 2008 has confirmed West’s geophysical model
and given support to a number of additional well locations
on “look alike” geophysical anomolies.
In keeping with West’s role as an exploration
company, West has accumulated three large land parcels
in Alberta and British Columbia for potential Montney
gas plays. West holds over 18,000 net acres of lands
in the Economy Creek area in Alberta and over 3,500 and
11,500 acres at Monias and Two Rivers respectively in
British Columbia. Initial exploration wells drilled in
late 2007 and through 2008 have been encouraging and
additional wells are scheduled to be drilled in 2008
and 2009 to determine the extent and economic viability
of the plays.
West is in a very strong financial position and able
to withstand the macroeconomic issues being experienced
in the global environment. West has significant cash
on hand, no debt and established credit lines available.
This allows West to take advantage of opportunities as
they arise including productive asset or corporate acquisitions
or investment or acquisition of new exploration opportunities
