AJM Petroleum Consultants

AJM Petroleum Consultants

April 29, 2008 23:59 ET

Canada's Energy Supply to Impact USA

CALGARY, ALBERTA--(Marketwire - April 29, 2008) - North America faces a tightening supply and demand picture for conventional natural gas that may have a significant impact on both Canada and the USA said Robin Mann, CEO of AJM Petroleum Consultants, in preparation for a talk on Value Creation in the Western Canadian Sedimentary Basin (WCSB) for the COPIC Investor Conference in Toronto tomorrow.

"Close to 50% of Canadian gas is exported to the United States each year," said Mr. Mann, "But if you consider that Canada's gas production has been declining since 2001 despite record natural gas prices, high drilling activity and available pipeline capacity, it becomes clear that current production levels will be extremely difficult to sustain in the future. Where will the extra gas the US requires come from?"

Mr. Mann's independent analysis of the Western Canadian Sedimentary Basin, based on his company's use of a proprietary resource potential model, will provide a general overview of declining production within the WCSB as well as identifying a few of the hot and emerging plays that may help to offset the production declines seen over the last ten years.

"It is generally accepted that the WSCB has 58 TCF (trillion cubic feet) of conventional reserves left for production," said Mr. Mann. "However, with the emergence of unconventional reserves, resources and associated production, the ultimate reserves within the basin are set to rise. In northeastern BC the Montney play in the Fort St John area is predicted to have reserves greater than 50 TCF while further north the Devonian shale gas play in the Horn River Basin is predicted to have up to 28 TCF. When these plays come on-stream, they could change the energy picture for North America."

WEBCAST NOTIFICATION

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Wednesday, April 30, 2008

12:30 - 2:00 pm (Eastern Savings Time)

The COPIC Producers Conference will be webcast by CNW.

To listen to Robin Mann's presentation on Value Creation in the Western Canadian Basin: An Independent View, please enter http://www.newswire.ca/en/webcast/pages/en/copic20080429/ in your web browser.

AJM Petroleum Consultants, a privately owned Calgary-based company, has extensive experience in corporate reserve evaluations, acquisition and divestiture evaluations, and evaluations of unconventional reserves such as coalbed methane, tight gas, shale gas and bitumen/heavy oil. Diverse engineering and geological capabilities combined with a forward thinking approach to technology have allowed AJM to provide innovative solutions to clients in the upstream sector of the oil and gas industry in Western Canada, North America and internationally.

Contact Information

  • AJM Petroleum Consultants
    Andrea Conway
    (403) 648-3269 or Cell: (403) 200-6292