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Alberta
_______________________________ The Company holds an option on the George petroleum and natural gas lease located 1.5 km northeast of the town of Fairview, Alberta. Cougar has paid the vendors $100,000 and is obliged to drill a well to a depth of 1,125 metres to earn a 75% working interest in the lease until payout and revert to a 60% working interest after payout. The lease is freehold and is not subject to the newly announced Crown Lease increase announced by the Province of Alberta. The location of the proposed drill hole is 600 metres to the southeast of the producing George 5-8-82-3 W6M Montney Oil Well. Cougar is in possession of a compliant report on the George Prospect. |
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