Storm Cat to drill in Mongolia - December 19, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryDecember 2004

Vol. 9, No. 51

Week of December 19, 2004

Storm Cat to drill in Mongolia

Allen Baker

Canada’s Storm Cat Energy Corp. has a deal to drill at least three coalbed methane wells near Mongolia’s capital, the Calgary-based company said Dec. 14, and may be doing some other exploration work as well on a tract that stretches over 5.5 million acres.

The contract with the Petroleum Authority of Mongolia calls for Storm Cat to spend US$300,000 on exploration by the end of next year. The wells are expected to be no more than about 600 feet deep. If gas is found, there’s a ready market in nearby Ulaanbaatar, capital of Mongolia and home to about half of its people.

The company already has a project in the South Gobi Desert in Mongolia.

Storm Cat recently obtained leases in Alaska. Its president is Scott Zimmerman, formerly with Evergreen Resources Inc.

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