Syngenik is drilling and producing for natural gas from shale with projects in the liquids-rich Brooks formation in southeast Alberta and in partnership with other firms in Saskatchewan. The Bakken formation is one of the most prospective liquids-rich plays in Alberta. Syngenik looks forward to realizing the value of this resource from our industry-leading position while delivering economic benefits to local communities, Alberta and Canada. Our shareholders hold a 50% working interest per well investment.

In the first half of 2015, we initiated a three well drilling program to confirm our technical analysis and then commenced further field development in mid-2018. As of February 2019, we had drilled and completed horizontal wells, which are on production and are in there early stages of flow back. These are non exploratory contacts which targeted the Bakken formation with average lateral lengths of approximately 7,750 feet.

As a result of this activity, we expect to see the positive impact of additional wells on production, driving meaningfully higher revenue for 2019/202. In addition to growing production and cash flow, we are gathering valuable information that should allow us to optimize well spacing and completion design as we determine how best to move forward with additional development