Kodiak said that the 1920 acre property is highly prospective for the emerging Muskwa and Evie shale gas plays and is supported by the British Columbia government with attractive royalties.
Kodiak recently drilled and cased a well on the property. During the drilling the well encountered several zones of interest and Kodiak elected to case the well.
Testing will be required to evaluate the commercial viability of the property. The Muskwa formation has elevated gas readings and logs indicated a pay zone of up to 60 meters. Kodiak will seek approval for a continuation to the lease based on these results.
