Bonanza, Alberta The Bonanza property is productive from the Cretaceous age Gething sandstone and strata within the Triassic age Baldonnel and Halfway Formations, and Mississippian age Kiskatinaw Formation to a maximum depth of 2,100 metres.  WCE owns an average working interest of 15% in 11 producing wells in the Bonanza area and retains an interest in more than 12,000 gross acres of PNG Rights supported by an extensive three dimensional seismic survey.  Elmworth WCE holds operated interests ranging from 48.2% to 68.9% in an 800 acre property located in Township 70, Range 6W6M, approximately 10 kilometres south of Grand Prairie.  This property contains seven producing oil and gas wells and two suspended gas wells.  Since acquisition, this property has been optimized with the drilling of four development oil wells and the installation of a central battery facility.  Mitsue, Alberta WCE also holds a 31.4% in a gas well at Mitsue, near Slave Lake, Alberta. The well tested 4.1 mmcf/d but has remained suspended because it is in the gas cap of an oil pool. WCE is planning an application to regulatory authorities for approval to place this well on production. This well has potential to recover 5 bcf of gas.  Pouce Coupe, Alberta The Triassic age Baldonnnel and Halfway Formations at a maximum depth of 1,950 metres are the main producing horizons in the Pouce Coupe area. WCE retains an average working interest of 29% in 5 producing wells in this area. Progress, Alberta At Progress, WCE has a 12.5% working interest in a 3 well Triassic oil pool at a depth of 2,100 metres.  Wells in this oil pool also penetrate oil bearing Boundary Lake strata. The company has drilled a successful Boundary Lake test well on the lands and has plans for further development. Other productive zones in this area include the Cretaceous age Paddy and Bluesky Formations, and the Triassic age Charlie Lake, Doig, and Montney Formations. WCE retains working interests averaging 17.5% in 6 wells in the Progress area. Redwater, Alberta WCE owns an average working interest of 45% in 5 wells within the Redwater Basal Mannville “F” and “J” Oil Pools. These oil pools yield light gravity crude oil from the Cretaceous age Bruderheim Sandstone at a depth of 950 metres. The company has plans for two additional development wells on this property. Also a secondary recovery scheme is under consideration but requires the cooperation of a senior producer with offsetting wells which are also productive from the Bruderheim Sandstone. Other Properties WCE has a 25% working interest in a gas well in each of Valhalla, Pouce Coupe, Mirage and Josephine in an area about sixty miles northwest of Grand Prairie that is collectively described as the Peace River Arch area. WCE also has a 37.5% interest in an oil zone in the Valhalla well. Stabilized test rates from the four gas wells totalled over 4 mmcfd and the oil zone flowed over 100 bopd on test. One well went on stream in December, 2006 and two more, including the dual zone well, were on in February, 2007. The fourth well is now expected to be tied in by mid 2008. A compressor was installed on the Pouce Coupe well in September, 2007 and a compressor was installed at Valhalla in January, 2008. This equipment is intended to slow production declines and increase gas recovery.