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Operating Areas
Epsilon Energy Ltd. has exploration, development and production rights to leasehold acreage in Canada, the United States, the Republic of Yemen and in the Federal Democratic Republic of Ehtiopia.
As of November 2009, the Corporation’s leasehold acreage was comprised of the following:
| |
Leasehold Acres |
|
Gross (1) |
|
Net (2) |
Canada: |
|
|
|
Saskatchewan |
40,000 |
|
22,000 |
Total for Canada (3) |
40,000 |
|
22,000 |
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United States: |
|
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Pennsylvania |
11,500 |
|
11,500 |
New York |
32,000 |
|
16,000 |
Ohio |
40,000 |
|
9,000 |
Total for the United States |
83,500 |
|
36,500 |
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Republic of Yemen: |
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Block 41 |
1,400,000 |
|
791,000 |
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Federal Democratic Republic of Ethiopia: |
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Epsilon Block |
19,607,000 |
|
19,607,000 |
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Grand Total |
21,130,500 |
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20,456,500 |
Notes:
(1) “Gross” means one-hundred percent of the working interest ownership in each leasehold tract of land.
(2) “Net” means the Corporation’s fractional working interest share in each leasehold tract of land.
(3) The Corporation has an elective participating interest in a portion of Gastem Inc.'s leasehold acreage in the province of Quebec within the St. Lawrence Lowlands and the Gaspe Peninsula.
In late March 2009, Epsilon received notice of pre-qualification for onshore development work in Syria. Having worked on this qualification for the past 18 months, the Company now has the opportunity to bid on development projects in Syria should it so choose.
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