FAR is seeking a partner to drill a significant Wabamun prospect at Wild River following completion of processing of a 3D seismic survey acquired during 2007.

FAR, in partnership with a major Canadian company, has mapped a Wabamun target with potential up to 50BCF which lies within 4.5 km of existing infrastructure and in proximity to a well that tested 10 million cubic feet of gas per day.

FAR’s interest in the venture is determined on an expenditure equalisation formula that has been determined at 29.12 percent.

New royalty programs announced by the Government of Alberta that encourage the continued development of deep, higher-cost oil and gas reserves became effective in January 2009.

Following the announcement of these measures activity in Alberta has improved and anticipated drill dates for Wild River have been revised to the 2nd half of 2009.