Arsenal Energy Inc. (Arsenal) has completed drilling of the Gjoa Lynn well (59.3% WI) at Stanley, North Dakota. The well had excellent shows in the Bakken formation and has been cased. A multi-stage fracture stimulation has been scheduled for late November. The drilling rig has been released to drill a program for another operator but is scheduled to return to Arsenal to drill two more Bakken wells, being the Anthony Robert (80.3% WI) and Wade Morris (80.3%) starting in February 2012.
In Alberta, Arsenal is scheduled to drill two Glauconite horizontals at Princess and one Leduc horizontal at Edgerton in late November. Each, if successful, will set up multi well development programs.