Fremont Petroleum Corporation Ltd. reported that multiple high value oil reservoir targets have been identified from the recently completed 3D seismic program at the 100%- controlled 21,500 acre Pathfinder Field in Colorado. Nine high value targets have been identified from the 3D seismic program which covered 1,200 acres (4.75 sq. km/1.83 sq. miles). Of the nine targets, the permitting process is underway for the first three wells with plans to spud two wells well this quarter. Well names will be issued with granted permits. This drill campaign focuses on the more shallow, naturally fractured Pierre Shale Formation which is considerably lower in cost and much quicker to drill given target depth is ~4,000 feet compared to ~6,000 feet for the last two wells drilled that targeted the deeper Niobrara Formation. As well, the Pierre Formation is naturally fractured so well stimulation is not required. The three wells to be drilled at Pathfinder are on trend and down-dip to some of the biggest producing oil wells in the Florence Oil Field, including one that has produced over ~1m barrels of oil. The Pierre Formation has produced more than 16 million barrels of oil from the Eastern flank of the field. Fremont is targeting production from the Western flank with the interpretation of the 3D seismic showing vastly superior anomalies containing large natural fracture networks ideal for oil and gas production.