Stroud bought an interest in five natural gas and gas condensate wells in
1987 for $700,000 (half of which was paid with cash and half through
issuance of common shares). The working interests ranged from 0.3 to 8% in
five wells located in the Rimbey, Niton and Pembina areas of central
Alberta. The revenue from these wells is used to reduce overhead expenses.
The corporation sold one well in 1995 and a further two wells in 2000 for
total proceeds of $274,715. In 2004, two more wells were drilled, and
another two were drilled in 2006 bringing the total number of wells Stroud
has a 3.75% interest in up to six. These wells bring in revenues in excess
of $100,000 a year. The revenue from these wells is used to reduce overhead
expense.