Overview

ProspEx Resources Ltd. is a Calgary-based, Canadian junior oil and gas company focused on exploration for natural gas in an area believed to be one of the richest in Western Canada.

Since 2004, ProspEx management and technical teams have concentrated their efforts in the gas-saturated, Cretaceous-age rocks of the deep basin fairway of Western Alberta. ProspEx owns rights to approximately 117,000 net undeveloped acres of land in two core areas:

The Deep Basin

West Central Alberta

New proactive strategy builds on proven successes

Since its inception, ProspEx has grown “through the drill bit” and through smaller asset acquisitions. However, the company’s strategy has since evolved to respond to changes in the oil and gas business environment.

ProspEx has moved to a model that emphasizes repeatable, scalable development compared to the previous one-well-at-a-time conventional exploration approach.

Through this new strategy, ProspEx will build on the elements of past success, both in terms of deep basin technical expertise and the assets within the ProspEx portfolio. The new focus will be on assets where a small number of initial exploration wells will prove up an inventory of repeatable prospect inventory. This approach should not only reduce the cost per well due to economies of scale, but also accelerate the pace of drilling, leading to faster production growth.

ProspEx plans to initially execute this new approach in two areas within its current asset base – Kakwa in the Deep Basin and Ricinus in West Central Alberta. In both of these areas ProspEx has demonstrated the potential for superior finding and development costs and assembled a repeatable prospect inventory.

Backed by the right people, rich assets and industry know-how, ProspEx represents a promising opportunity for the future.