Exploration and Development

During 1984, a total of 21 wells were drilled on company
lands resulting in 11 oil wells, 6 gas wells and 4 dry
holes. Of these, Brinco Oil & Gas Limited had a direct
financial participation in 8 oil wells, 3 gas wells and

1 dry hole.

The company is continuing to pursue low-risk prospects
in an attempt to develop additional reserves on lands in
which Brinco Oil & Gas presently has an interest.

On the company’s lands in the Saddle Hills area of
northwestern Alberta (in which the company has a 65
percent working interest) two upper cretaceous Doe
Creek sandstone oil wells have been drilled and
geological interpretation of the reservoir indicates there
could be an additional five locations within the pool. Also
at year-end, on other lands Brinco Oil & Gas Limited was
participating in 3 additional wells, all of which were
being drilled for oil potential.

DRILLING RESULTS

Success Rate

Total Wells Drilled
Crude Oil Wells
Natural Gas Wells

LAND HOLDINGS
(as of December 31, 1984)

Alberta

British Columbia
Saskatchewan
Eastcoast Offshore
Northwest Territories

Total: Canada 1,986,949
United States 11,487

Total Holdings 1,998,436

\

Brinco Oil & Gas Limited