JED Oil
Description
JED Oil Inc. was formed as an Alberta, Canada corporation in September 2003. JED plans to develop and operate oil and natural gas properties primarily in western Canada. JED does not anticipate direct property acquisitions, but rather intends to develop the oil and natural gas properties of others under farm-in arrangements in which JED will finance the cost of development drilling in exchange for interests in the oil or natural gas revenue generated by the properties.
Operations commenced in January 2004 with a farm-in agreement with Enterra for the development of several properties in East Central Alberta. The properties total 51,943 net acres of which 22,166 net acres are undeveloped land. JED will receive a 70% interest in any production revenues generated by its development activities on these properties. JED expects a majority of its development activities for the near future to be through farm-in arrangements with Enterra, although there are no restrictions in place that prevent JED from entering into projects with other companies.