Its reserves are shallow oil and gas, high netback, seismically defined pinnacle reefs.

The Company has gas storage rights on its Ontario property with an estimated (after depletion) capacity of 3 bcf plus a gas reinjection permit allowing the company to increase production through pressure maintenance and with the added benefit of gas arbitrage. This arrangement has significant benefit in today’s commodity price environment.

The company plans to utilize revenue generated from the Ontario asset plus oil and gas properties acquired moving forward to build a substantial acquisition target within the next three years.

Reef plans to take advantage of high value, low risk properties becoming available in W. Canada. The Ontario property will provide Reef with a long term cash flow base to pursue additional prospects in the WCSB.