Goldnev’s Noel natural gas property, in which the Corporation has a 66.5% working interest, is located approximately 160 km southeast of Fort St John, British Columbia, and comprises 640 acres (or three sections) of land. The main producing zones are the Fahler and Cadotte formations, analogous to the large Fahler and Cadotte gas pools located in the area. The property includes one gas well that is currently producing approximately 125 mcf/d (20 boe/d).

In 2008, the Corporation plans to re-complete the well to test two identified up-hole shallow gas zones, with the expectation that the well recompletion will produce on a gross basis approximately 1,000 mcf/d (or 166 boe/d). Upon the successful outcome of the recompletion program, Goldnev plans on drilling three wells to continue to exploit the potential of the prolific Fahler and Cadotte formations and the identified shallow gas zones.