Tuscany has been acquiring land that has “Bird Bear” oil potential during the last year in partnership with a related company.
Tuscany holds an interest in 2,570 (837 net) acres on a developing Birdbear oil play in the same region as Evesham. There have been a number of successful horizontal oil wells drilled in the region by Husky, Talisman and NuVista (who are drilling adjacent to Tuscany), and acreage surrounding one of Tuscany’s key sections fetched high metrics of >$1,400/hectare in recent land sales.
Elsewhere in Saskatchewan, Tuscany recently acquired prospective acreage with industry partners, to develop new heavy oil plays. The acquired lands have bypassed pay and shut-in production on old vertical wells.
The Company has also identified Bird Bear potential beneath the Sparky production at Macklin and has recently acquired 320 acres of deeper rights under its production. The Company will do further work assessing its potential for development of these plays.
Management continues to actively review additional early-stage oil opportunities, pursuing internally-generated prospects in regions with a low cost of entry.
The Bird Bear has considerable potential for development with horizontal wells.
Western Saskatchewan Acreage Acquisitions – Site Pictures
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