Update:
We have a new partner, Spartan, that has taken on Joint Ventures 1, 2 and 3 

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Ah Neen O’Chiese Elders and Members, I am pleased to bring you the first OEGP newsletter up-date of 2014. Due to the nature of the industry and its strict confidentiality rules we were not able to provide updates to you until much of the information became public knowledge. First, I remind you of the history of your oil and gas company.

 

The O’Chiese First Nation made the bold move of taking back ownership and control of its oil and gas resources here on O’Chiese land and Traditional Territory. This process has involved the establishment of an energy corporation O’Chiese Energy GP Inc., operating on behalf of O’Chiese Energy Limited Partner. A management team was struck and negotiation of Joint Ventures, acquisition of permits and leases was done. O’Chiese Energy GP Inc., (OEGP) has taken out a lease OL 6367 from Indian Oil & Gas Canada (IOGC) consisting of 21 sections of land.  This lease was the result of Joint Venture #1 between OEGP and Bellatrix Exploration LTD (BXE).

 

OEGP entered a second Joint venture with BXE and took out a permit OP 3302 on an additional 20 sections of land. This permit has resulted in several leases that are now active with OEGP.

 

We negotiated and finalized a third Joint Venture with BXE that involves 11 sections of land and OEGP has taken a permit out OP 3307

 

All joint ventures have commitments to drill wells, support an education and community development fund, and provide a Gross Overriding Royalty convertible to a working interest. In addition all pipelines required to tie in any wells will have a working interest. We are also pleased to inform you that we have secured operational funding for your business centre and oil company.

 

While training and development of O’Chiese members is very high on the list of things we wish to accomplish, we also have been aggressively looking to establish ourselves in opportunities outside the reserve on Provincial Lands. I am pleased to inform you that OEGP has, under approval from the board, invested in an opportunity outside the Reserve. The investment involves several sections of lands and mineral rights on the southeast end of O’Chiese lands. This investment will bring OEGP a risk free Gross Overriding Royalty convertible to a working interest.

 

Other investments include a Water disposal well that we are presently working through the regulatory approval process with AER formerly ERCB or EUB. As we progress in the process we will provide a complete presentation to you, the membership, on the scope and benefit of the project.

 

In closing, I’d like to say we are looking at a very busy year and expect to see more and more opportunity come to O’Chiese. As many of you know you have experienced the work created through the past years activity. With new spinoff businesses being built you can expect to see more opportunity. I encourage you to prepare for this up-coming work.