The Company’s exploration activities are driven by a significant inventory of petroleum and natural gas rights, primarily on the Peace River Arch in northwestern Alberta. WCE’s position in more than 60,000 gross acres and 27,500 net acres of P & NG rights is sufficient to support a long-term exploration effort. WCE is endeavouring to secure working interests exceeding 35% in all new projects.

Bonanza, Alberta
WCE has identified several drilling prospects on Company lands in the Bonanza area. Potential hydrocarbon yielding zones include the Baldonnel, Charlie Lake, Halfway, Doig, Montney, and Kiskatinaw Formations at depths to 2,100 metres. Blackpool has working interests ranging from 12.5 – 25% in approximately 7,000 gross acres of P&NG Rights at Bonanza covered by a full township of three dimensional seismic data.

Boundary Lake, Alberta/B.C.
WCE has various working and royalty interests in 4.5 sections along the Alberta-B.C. border at Boundary Lake, east of Fort St. John, B.C. The property includes a 62.2% before payout interest in a well that tested gas and oil from two zones and has indicated gas in a third zone. This well contains substantial gas and oil reserves but because of the limited and dated test information, no reserves have been assigned. Conservation of solution and associated gas is required to produce the oil reserves and pooling of interests to complete a spacing unit is required before the gas zones can be placed on production.

Economy Creek, Alberta
WCE owns a working interest of 100% in three contiguous sections of P & N G Rights at Economy Creek. These lands are being evaluated with the acquisition and interpretation of seismic data and pursuant to this interpretation, a well to test Cretaceous and Triassic strata at a maximum depth of 2,500 metres could be drilled during 2008.

Hamelin Creek, Alberta
WCE has acquired 12 kilometres of 2 dimensional seismic data, to evaluate its' 100 per cent owned two section property in the Hamelin Creek area of northwestern Alberta. An analog well to this prospect drilled at 5-19-81-4 W6M yielded up to 1.383 million cubic feet per day from Cretaceous age strata during the first six months of production with a total cumulative lifetime gas volume of 4.040 billion cubic feet.

Progress, Alberta
At Progress WCE owns working interest ranging from 12.5% to 25% in 7,000 acres. This part of the province is prospective for oil and natural gas in a variety of zones including the Triassic age Montney, Doig, Halfway, Boundary Lake, and Charlie Lake Formations.

Utikuma Prospect, Alberta
Near to and underlying WCE lands, interconnected southwest-northeast trending pods of Gilwood sandstone form a prolific oil productive reservoir. A well immediately offsetting WCE lands to the southwest produces 100 barrels of oil per day with current cumulative oil production of 810,000 barrels and inferred ultimate oil reserves of 2,000,000 barrels. A well to the northeast has produced 190,000 barrels of oil. An abandoned well on WCE lands, though penetrating 8 feet of porous oil bearing Gilwood sandstone, did not yield any commercial oil production due to poor bonding of cement and production casing. A core analysis of the Gilwood zone in this well reveals excellent oil saturated reservoir rock with porosity to 21% and several hundred millidarcies of permeability. This wellbore could be re-entered and whipstocked to a bottom hole location penetrating oil bearing Gilwood Sandstone approximately 200 metres from that of the original vertical wellbore. WCE retains a working interest of 100% in this prospect.

Worsley, Alberta
WCE owns a 26.6% working interest in 960 acres of P+NG rights in the Worsley area of northwestern Alberta. This property is on the northeastern updip edge of the Worsley Charlie Lake "B" Oil Pool which to date has yielded 5.5 million barrels of oil and 15.4 bcf of natural gas. The Charlie Lake Formation is at a depth of only 1,250 metres in the Worsley area. Up to three test well locations for oil have been identified on Company lands. A standing well on the lands penetrated a unit in the Baldonnel Formation which flowed 1.514 mmcfd when drill stem tested thus representing a re-completion opportunity in that zone.