Natural
gas consumption is continuing to grow worldwide. Sparton
is the only public junior exploration company in Canada
that owns a percentage of a major natural gas reserve
in the offshore Nova Scotia gas production area region,
and this very valuable discovery continues to remain
a key element in the Company's asset portfolio in Canada.
| |
|
|
|
Exxon
Mobil (operator) and Shell are majority owners
|
|
|
Possible
future production
|
|
|
Current
Net Asset Value (10% discount rate) > $0.40
per Sparton share
|
|
|
Sparton share of
stated reserves approximately 19.4 BCF
|
The
above summary is based on Sparton's current
and issued share capital and a valuation with
an effective date of May 11, 2005 prepared
by APA Petroleum Engineering Inc.,
Calgary Alberta.
The
240 square kilometre Chebucto Gas Field is part of
the Nova Scotia Sable Offshore Energy Project (SOEP)
Area, and is located approximately 14 kilometers southeast
of the nearest SOEP production platform, the North
Triumph field.
|
