First Mountain Exploration Ltd. provide the results of its exploration program in the Faust area of Alberta. FMX drilled three exploration wells to test five prospective targets defined by geology and seismic.

The three wells resulted in the discovery of a Bluesky oil reservoir with the potential to drill additional horizontal wells in the coming months. Although no economic quantities of oil were produced, the three vertical wells created an opportunity to delineate additional pools using 3-D seismic.

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