With regulatory approvals expected soon to tie into a nearbypipeline, the N-01 well at Fort Liard in the Northwest Territoriesshould begin producing by the second quarter, according to one ofthe operators, Berkley Petroleum Corp. Berkley operates the wellwith partners Forest Oil Corp. and Paramount, with each holding a33.33% interest. Paramount operates the pipeline.

Berkley said the well, located in the Mattson formation, hastested two additional zones which, when combined with a previouslyannounced 21 MMcf/d test, gives a combined cumulative flow rate of49.7 MMcf/d of sweet natural gas.

Berkley said its share in both the production and reservesassociated with the N-01 are “incremental” to its 2001 plan. Itsaid its sales process, initiated after the Hunt Oil offer (seeDaily GPI, Jan. 2).

“We are highly confident that, at its conclusion, the process wehave initiated will lead to a superior transaction for ourshareholders,” said Berkley CEO Michael Rose.

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