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Goldnev engages in exploration, development and production of unconventional oil shale resources and conventional oil and gas exploration and development reserves in the Western Canadian Sedimentary Basin. Our focus is on the shallow oil shale formations and medium depth oil and gas bearing basins, which extend from northwest British Columbia, Alberta and Saskatchewan to the United States border.

Goldnev is pursuing four types of resource plays:

• An unconventional oil shale resources prospect targeting the Favel formation in east central Saskatewan.
• A high-impact, medium risk shallow gas resource prospect in Noel in Northeastern British Columbia.
• The medium depth high-impact gas play that includes the prolific Fahler and Cadotte sands at Noel in Northeastern British Columbia.
• A new oil condensate discovery play and gas potential in various intervals of the Lower Cretaceous and Jurassic zones, as well as rich high-impact gas potential in the Rundle formation, at Pincher Creek in southwestern Alberta.

Goldnev had a successful tie-in and workover program in 2007 and 2008 which involved three gas wells located at Noel and Provost. In 2008, the Company plans to drill 10 oil shale core holes at Pasquia Hills, 3 high-impact oil and gas wells and re-complete 2 gas wells at Noel and Pincher Creek, continuing to focus on maximizing production, reserve and resource growth in all core areas.

Pasquia Hills Oil Shale – East Central Saskatchewan
In June 2007, Goldnev announced a farm-in agreement with a private Alberta company to explore and develop two oil shale permits totalling 155,443 gross acres (6½ townships) located in the Pasquia Hills oil shale region in Saskatchewan...
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Noel – Northeastern British Columbia
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...
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Pincher Creek – Southwestern Alberta
In March 2008, Goldnev announced that it had entered into an Offer to Purchase Agreement with a private Alberta company to acquire oil and gas property interests in 9,600 acres (or 15 sections) of land in the Pincher Creek area...
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Provost – East Central Alberta
Goldnev’s Provost oil and gas property, in which the Corporation has a 66.5% working interest, is located approximately 160 km southeast of Edmonton, Alberta, and comprises 160 acres of land...
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