Curlew Lake Resources Inc. is an independent oil and
natural gas, and precious metals, exploration, development and production
company with operations in western Canada.
has undertaken to
maximize shareholder value through a combination of participation in low-risk
development and acquisition of oil and gas properties,
as well as participation in high-risk, high potential exploration projects in
both energy and precious metal projects. The Company's common shares are
listed on the TSX
Venture Exchange under the symbol CWQ and under
CWLXF on the
OTC Pink Sheets in the
U.S. under the classification "transparent/current information"
The Company has been a Mini-cap player in the oil patch in recent years, and is
now reentering the precious metal exploration field in order to broaden its
natural resource potential. Present interests include four oil and natural gas
projects and one gold mineral project.
OIL & GAS
Fairydell Project :
Curlew Lake Resources Inc. acquired freehold and
Alberta Crown Petroleum and Natural Gas rights in a high-impact D-3 reef play in
the Fairydell-Bon Accord area of central Alberta. The successful bid at
yesterday’s Alberta Crown land sale resulted in acquiring seven and
three-quarter sections (4,960 acres) in the Fairydell area complementing their
recently acquired freehold acreage.
Leduc Project : Curlew Lake
Resources Inc. acquired freehold
and Petroleum and Natural Gas rights in the prolific Leduc area of central
Alberta. Curlew Lake Resources has as part of its on-going geological review of
the Leduc oil field identified a number of prospects related to the Leduc Reef.
Leduc is a long-standing oil field discovered in the late 40’s and a number of
wells are still producing. Curlew Lake has mapped parts of the Leduc field and
carried out core work that indicates there are a number of in-fill and step out
drilling opportunities. Some of these may present new reservoirs and overlying
formations amenable to horizontal drilling.
Chin Coulee Project : Curlew Lake Resources
Inc.acquired Alberta Crown
Petroleum and Natural Gas Leases in the Chin Coulee area of Southern Alberta. A
seismic acquisition and interpretation program has been carried out that
identified a number of anomalies supporting the initiation of an exploration
program in the Chin area southeast of Taber. Taber oil and gas fields have been
heavily exploited over past decades and many of the large operators have been
successful in establishing large-scale programs in the productive Lower
Cretaceous formations as well as underlying Jurassic formations.
Turner Valley Project oil and natural gas
project located just south of Calgary, Alberta has progressed to the
production/development stage. Four successful wells to date, one on production
and the remaining three requiring pipeline upgrades/connections.
Minard Project is
located in Saskatchewan and presents good potential offsetting existing
production. The first two wells are currently shut-in.
The targeted Frobisher formation is
at a depth of approximately 1300 metres
Fosterton Project :
The Fosterton project is located in Saskatchewan and presents good potential
offsetting existing production. The targeted Rosary Sand formation is at a depth
of about 3,300 feet, is well-developed porous and permeable sand and is the
producing horizon in the adjoining Fosterton field. The farm out land consists
of 320 acres offsetting the Fosterton field. Wells can be drilled on 40 acre
spacing with the present seismic feature supporting several offset locations.
Cumulative production at the analogous Fosterton Field varies with the best well
producing over 300,000 barrels of oil. The seismic work completed suggests a
multiple well project.
Peace River Property
: The Company
has acquired Metallic & Industrial
Minerals rights on an area of approximately 800,000 acres, of land on the Peace
River Arch geological formation in north western Alberta. The lands will be
operated as a joint venture, with Curlew holding a 50 percent interest in the
joint venture with 2 private partners, and Curlew will be the initial operator
of the exploration project. The lands lie north and west of the Clear Hills area
and cover a structure known as Halverson Ridge and surrounding areas.
Subsequently, the Geological
Survey of Canada and Alberta Geological Survey reconnaissance study of map area
84D, Special Report 071, on an area north of the Clear Hills iron ore deposit
indicates anomalous gold values in a number of water sheds, with many values in
excess of 1,000 ppb gold.
The Clear Hills area of
Alberta has been a target for metallic and industrial minerals exploration for
decades with renewed interest in recent years. Good progress has been made by
two private exploration companies in establishing that the Clear Hills iron ore
deposit is a world-class deposit and that significant values in vanadium and
gold can be extracted from the iron ores. Recent recognition of vanadium as a
battery improving metal and current prices for iron and gold has made the area
extremely interesting geologically.
Clear Creek Property
: The Company
controls a 100% interest in the Typhoon mineral claims located in the Clear
Creek District of the Yukon. There are a total of 117 claims covering over 5,000
acres. The property acquired is in an area where geochemical surveys and placer
mining had shown interesting values in gold and silver. The property is readily
accessible via a good road connecting to the Klondike Highway some 85 kilometres
southeast of Dawson City.
working interest on 98 claims is subject to a 4% Net Smelter Royalty, of which
1% may be purchased by the Company at any time in the future for the price of
$600,000, in cash or shares and an additional 2% which may be purchased at any
time for $1,000,000 in cash.
working interest on the remaining 19 claims requires a $10,000 cash payment over
the current year. Curlew Lake is required to complete a work program on these 19
claims at a cost of not less than $60,000 over the next 3 years. The Vendor,
Xennex Development Corporation, will retain a 2% NSR Royalty, on the 19 claims
which may be purchased at any time by Curlew Lake for $1 million for each 1%.