Hanwei has 100% working interest in the wells 13-33-49-26W4, 14-32-49-26W4M, 15-19-49-26W4M, 10-29-49-26W4M, and 8-32-49-26W4M, and 60% in 11-33-49-26W4M well. Minimal production by previous owner. Hanwei's strategic focus is on multi-zone opportunity into the Ellerslie, Nisku and Wabamun formations.
Hanwei currently has 4 wells producing oil and gas. The Company issued a Reserves Report as of August 31, 2014 (the "Reserves Report") estimating reserves data and future net revenues for the Company's Leduc Lands with proved reserves of 547 mboe, proved and probable reserves of 1,198 mboe, and a proved and probable NPV of $14.1 million with a 10% discount rate applied.
The Company is developing its drill plan for future horizontal production into the Nisku formation. Production updates are issued, as results are forthcoming.