PROJECTS CANADA, British Columbia

Canada with its large oil and gas reserves has lead the world in new oil and gas exploration. Drilling activity has increased in British Columbia to record levels, with northeastern British Columbia becoming the new frontier for Natural Gas exploration in North America.

With interest escalating to record levels in northeastern British Columbia major oil and gas companies are actively bidding on lease acreage with millions of dollars being spent on land acquisition.

Flying A Petroleum Ltd. has signed a Participation Agreement to participate for a 17.5% working interest in the drilling of a Slave Point test well in northeastern British Columbia.

The proposed total depth of the well is 3300m, sufficient to penetrate the Slave Point Formation. Geophysical and geological evidence suggests that the primary objective , the Slave Point Formation, has been subjected to basement uplift creating a potential structual trap that may have been dolomized.

A Major Oil and Gas Company is the Operator of this Well. Flying A Petroleum Ltd has paid $1,425,000 as its 17.5% working interest cost for drilling the test well. The Company will have the right to earn a 17.5% working interest in approximately 26 drilling sections of leases from the top of the Slave Point formation to the basement and a working interest from the surface to a depth shallower than the top of the Slave Point under varying terms and interest.

The primary drill target of this well is to test the “Slave Point Formation”, with secondary up-hole opportunities. A major oil and gas company has developed the prospect and is the Operator.