Yangarra Resources has successfully drilled and completed 15 gross (10.6 net) wells during 2013, in addition to completing two gross (0.6 net) wells that were drilled in 2012.

All of the wells drilled in 2013 were completed by 31 December, 2013, with the last 3 wells (2.75 net) tied in the last week of December 2013.

In January 2013 Yangarra began construction of an 11 mmcf/d gas processing facility in the Ferrier area (100% working interest) that was put in service April 10, 2013 which provided for the tie-in of 8.0 gross (2.4 net) standing wells, six of which had been drilled in 2011 and 2012.

In September 2013 Yangarra entered into a farm-in agreement with an industry major adding 61 gross (37 net) Cardium locations.

Yangarra has drilled 7 gross (5.35 net) wells (4 of which were earning wells) which exceeded its initial drilling obligation under the terms of the farm-in agreement, to drill 2 earning wells by the end of 31 March, 2014.

Late in 2013 Yangarra negotiated a swap with an industry partner to concentrate their respective interests in the Ferrier area. In the swap arrangements Yangarra exchanged its Glauconite interest in 2 wells and 3 sections (average 17% working interest) for Cardium interests in 4 wells and 1.5 sections (average 30.6% working interest).

Yangarra acquired 1,760 acres (1,760 net) of land in Central Alberta during 2013 at crown land sales spending approximately $2.1m.
The company’s December 2013 production averaged approximately 3,000 boe/d.