Strata Oil & Gas Inc announced today the appointment of Dave Mahowich to the position of Vice President, Operations.
Mr. David Mahowich has 27 years of experience in the oil and gas sector, including expertise in the Peace River oil sands region, where he oversaw drilling operations for Blackrock Ventures Inc. which was subsequently acquired by Shell Canada Ltd. for $2.4 billion. Mr. Mahowich assisted Blackrock in its transformation into a 13,000 bpd producer, primarily through cold-production from its heavy oil assets in the Peace River region located 40 km to the southeast of Strata Oil's Cadotte project. After Blackrock was acquired, Mr. Mahowich continued in the region with Shell.
Strata Oil Appoints Dave Mahowich, VP Operations
Mr. Mahowich's professional experience has included drilling and completion program management and operations, oilfield manufacturing, and business/assets development with a specific focus on heavy oil and bitumen plays. His areas of expertise include cold production wells (CHOPS), multilateral horizontal wells, and SAG-D. His experience in the planning and management of exploration programs and complex well designs in the Peace River oil sands region, where he has been responsible for drilling more than 300 wells, is of particular importance to Strata Oil."Strata Oil is truly delighted to welcome Mr. Mahowich to the team. Dave fills a very important role with Strata, and we're encouraged that he has chosen to join us as our Vice President, Operations. Dave provides us with specific technical and operational skills which are particularly valuable as we develop Strata's heavy oil assets in the Peace River region. Dave was an important part of Blackrock's team, helping them exploit their cold-production potential in Peace River through his operational expertise, and now Dave is bringing his considerable abilities to Strata Oil," said Trevor Newton, Chairman of the Board.
Shell Canada's acquisition of Blackrock in 2006 represented US$11.45 per barrel of oil in the ground, on the basis of proved plus probably reserves. At the time of acquisition, oil was trading at slightly less than $70 per barrel, and Blackrock's production was approximately 13,000 bpd and projected to increase to 40,000 bpd.
Strata Oil's 887 million barrel (recoverable) Cadotte project is planned as a 56,000 barrel-per-day thermal project utilizing CSS (cyclic steam stimulation). Strata is also pursuing primary production from its Bluesky sands as an additional potential resource for development. Strata's technical team has identified, and is in the process of planning and permitting, drilling locations to test the extent to which the Bluesky Formation at Cadotte/Cadotte-West has the fluid properties which permit the use of primary production methods.