Asked in early November why Glacier sold its Kenai Peninsula North Fork field, company President Stephen Ratcliff told Petroleum News that Glacier's focus was on the North Slope, particularly on the Badami unit, and selling the Cook Inlet basin gas producing asset to Gardes Holdings helped provide needed capital.

But something is obviously amiss because it appears that on Nov. 16 BMO Capital Markets Energy Group put out a divesture notice claiming it had been retained by Glacier to represent the company in a sale of the Badami unit.

Savant Alaska, a Glacier company, restarted the eastern North Slope Badami pad in October. During the 24 days the field produced that month it yielded more than 2,000 barrels of oil a day, Ratcliff said in early November.

In its Badami asset overview, BMO said it was a turn-key, 100% operated, "cash flow positive asset … with significant exploration and exploitation potential from highly prolific stacked pay reservoirs," in the Badami and Killian sands, producing short of 2,000 barrels of oil a day, although later in the notice BMO said Badami "is currently making 1,250 barrels of oil per day."

BMO also said the "Hilcorp/BP retention of ARO and select plugging obligations limits buyer exposure," noting the Killian sands are "primed for development following" Glacier's B1-07 well.

Questions were referred to Sandra Ramsey at Glacier via [email protected]

- KAY CASHMAN

ition, News Bulletin Service'>