James G. Long, President of Desmarais Energy Corporation (TSXV: DES) called into SmallCapVoice.com to explain that Desmarais is a junior oil and gas exploration and production company primarily focused in West Central and South East Alberta. The Company has a balanced portfolio of shallow to medium depth exploration and development plays combined with deeper gas targets. Most recent success was a new pool oil well with at least two follow up development locations supported by 3-D seismic control. More than $3.5 million has been invested in lands, infrastructure and seismic.
Current production is approximately 50 boepd (25% oil) with eight newly acquired shut-in wells to evaluate. Production is 71% operated with varying working interests averaging 34% in 27 wells. There is also optimization and exploitation potential of five additional wells
Desmarais has 22.3 net sections (14,280 net acres) of undeveloped land. It is now one of the largest land owners in the Barrhead area with multi-zone oil and gas potential from six formations.
Management has been responsible for the drilling and completion of more than two thousand wells during their careers in the oil and gas industry. Management has more than three decades of experience individually with both Majors and Juniors.