Curlew Lake Resources has received a license to drill a New Pool Wildcat on its Fairydell-Bon Accord prospect in central Alberta.

The company (operator) will retain a 53% working interest in the well before payout and a 64% working interest after payout.

Wells in an adjacent field have recovered up to 2 million barrels of oil per well on 40 acre spacings, which at current value gives over $40m in ground value per well.

The project involved acquiring freehold and Alberta Crown Petroleum and Natural Gas rights on a D-3 reef play in the Fairydell-Bon Accord area of central Alberta.

The company now holds nine and three quarters sections (6,240 acres) of land on and around the prospect.

The geology and seismic data the company has acquired and had reinterpreted has identified a number of drilling targets with multi-zone potential.

The area is situated between the Redwater oil field and the Fairydell-Bon Accord oil field, 50 miles north of the City of Edmonton.

Prospective lands between the Redwater reef complex and the Fairydell-Bon Accord reef were identified by Curlew Lake using seismic and well control.