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In Canada, the Trust participated in the drilling of 22 wells
(19.1 net) during the first quarter of 2008, resulting in
8 gas wells (6.3 net), 2 oil wells (2.0 net), 1 abandoned
well (1.0 net) and 11 standing wells (9.8 net) awaiting tie-in.
The total wells include 17 CBM and shallow gas wells (15.6
net). The abandoned well was a dry hole at Utikuma, while
two successful oil wells at Utikuma were brought on stream
at a combined rate of over 200 bbls/d.
Operational
Activities
Average
production in Canada during the first quarter of 2008 was
4,165 bbls/d of oil and NGL’s and 51.4 mmcf/d of natural
gas (12,730 boe/d) compared to 4,047 bbls/d of oil and NGL’s
and 48.1 mmcf/d of natural gas (12,065 boe/d) in the fourth
quarter of 2007. The announced increase in the development
capital program is expected to mitigate declines from our
Canadian operations.
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