Corporate Overview
| Deer Lake Oil & Gas, Inc. is a St. John's, Newfoundland-based oil and gas
exploration company active in Western Newfoundland. Properties The Corporation holds a 100% interest in 222,980 acres (90,239 hectares) in the onshore Deer Lake Basin. It holds a 25% working interest in EL-1102 located in Bay St. George, offshore western Newfoundland, which covers 122,800 ha and was issued on January 14, 2007. The Corporation also holds a 2% working interest in three permits at Parsons Pond: EP03-101, EP03-102, and EP03-103, covering in total some 100,000 acres). Exploration Strategy
We believe that the Deer Lake Basin has all
the geologic conditions needed to host significant petroleum deposits in
an area with well developed infrastructure and a positive business
climate.
Two major source rocks have
been found so far in this lightly explored basin containing mostly Type
I (oil prone) organic material with high Total Organic Content (TOC)
and levels of maturity from the top of the oil window up to the dry gas
range.
The Deer Lake Basin's trap rich
strike/slip pull apart nature arises from its formation on the
edge of a Palaeozoic aged continental collision subduction zone.
The petroleum rich Los Angeles Basin serves
as a good tectonic analog.
These sandstones overlie a karsted,
fractured and hydrothermally dolomitized (HTD) Ordovician aged
carbonate platform which is the northeast extension of
equivalent rocks that contain oil and gas from Newfoundland to West
Texas.
The Basin contains attractive shallow oil targets in Carboniferous aged sandstone strata ( including those equivalent to the producing section in New Brunswick's recently expanded McCully gas field). In many areas, stacked targets of both rock types can be expected. In addition to conventional oil and gas targets, the Deer Lake Basin appears to have considerable "tight gas" resources and possibly shale gas as well. The Corporation also holds strategic land positions in the Bay St. George area. It is currently concentrating its drilling and exploration activities in the Deer Lake Basin. Corporate Status The company was incorporated in June 1998 and initially carried on business as a private Newfoundland company. On September 13, 2002, Deer Lake Oil & Gas, Inc. was approved by the Newfoundland and Labrador Securities Commission as an Issuer of Record under the Newfoundland Securities Act and was approved to issue an additional 5,000,000 common shares to the public within the province at a price of $0.60 per share pursuant to an approved Prospectus (see press release of September 16, 2002). The Board of Directors of Deer Lake Oil & Gas Inc. Management
Accounting Legal
Contact information P.O. Box 5580, St. John's, NL, Canada A1C 5W4 Deer Lake Oil & Gas Inc. Home Page |