Last C$0.07 CAD
Change Today 0.00 / 0.00%
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Venture
As of 11:04 AM 10/23/14 All times are local (Market data is delayed by at least 15 minutes).

northern spirit resources in (NS) Snapshot

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Previous Close
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Day High
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Day Low
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52 Week High
07/16/14 - C$0.13
52 Week Low
11/12/13 - C$0.04
Market Cap
24.0M
Average Volume 10 Days
13.1K
EPS TTM
C$-0.0040
Shares Outstanding
343.3M
EX-Date
--
P/E TM
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Dividend
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Current Stock Chart for NORTHERN SPIRIT RESOURCES IN (NS)

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northern spirit resources in (NS) Details

Northern Spirit Resources Inc. is engaged in the exploration, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin. The company is headquartered in Calgary, Canada.

northern spirit resources in (NS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$60.0K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$110.0K
Chief Operating Officer, Vice President of En...
Total Annual Compensation: C$84.0K
Vice President of Exploration
Total Annual Compensation: C$98.0K
Compensation as of Fiscal Year 2012.

northern spirit resources in (NS) Key Developments

Northern Spirit Resources Inc. Announces Operations Update

Northern Spirit Resources Inc. announced that it has drilled, completed and tested 3 horizontal wells (WI 100%) at Klein North. The wells were drilled from a common surface pad, targeting Sparky medium gravity oil. Completion procedures included multi-stage fracture stimulation in each well. All 3 wells are now being equipped and the wells are expected to be on production in late August 2014. Also as announced on July 17, 2014, at Klein South the Company has completed a horizontal well (WI 55%) and has drilled and completed a vertical well (WI 86%), each well targeting Sparky medium gravity oil. The horizontal well was multi-stage fracture stimulated and is currently being equipped and is expected to start production in August. The vertical well is undergoing evaluation.

Northern Spirit Resources Inc. Announces Operations Update

Northern Spirit Resources Inc. provided the following operational update. The primary focus of Northern Spirit's development drilling program in 2013 and 2014 has been at Provost in East Central Alberta, which includes the Klein and Cadogan areas. The Company owns 23,300 gross or 16,700 net acres (26 sections) in the area of which 7,600 net acres is undeveloped (12 sections). In 2013 Northern Spirit drilled 4 gross (2.2 net) successful horizontal wells at Klein. During the first half of 2014 the Company drilled 4 gross (3.5 net) horizontal wells and drilled 1 gross (0.9 net) vertical well in the Klein area. Further, in June 2014 the Company recompleted 1 gross (1 net) vertical well at Cadogan. All of the 2014 newly drilled wells targeted Sparky medium gravity oil and all were drilled and cased to full planned depth. At Klein South, a horizontal well (WI 55%) was drilled in March 2014. The well was completed after spring break up and is currently being equipped for production. The well is estimated to be on production in August 2014. A vertical well (WI 86%) was drilled in Klein South in order to further delineate a Sparky target. This vertical well is currently being completed and tested. At Klein North, 3 horizontal wells (WI 100%) were drilled in June 2014 from a common surface pad. Completion activity is currently underway and with success all 3 wells are estimated to be tied in and on production in August 2014. The recompleted vertical well at Cadogan is estimated to be on production in early August 2014. Total capital expenditures to date for the Company's 2014 development drilling program are estimated to be $4.4 million.

Northern Spirit Resources Inc. Announces Results of its Independent Reserve Evaluation for the Year Ended December 31, 2013

Northern Spirit Resources Inc. announced the results of its independent reserve evaluation for the year ended December 31, 2013. The company's proved plus probable reserves as evaluated by Deloitte as at December 31, 2013 increased 9.2% to 3,816.9 Mboe from 3,494.3 Mboe at December 31, 2012. The company's proved reserves as at December 31, 2013 increased 25.9% to 1,642.5 Mboe from 1,304.4 Mboe. The net present value of Northern Spirit's estimated future net revenue before income taxes from proved plus probable reserves as at December 31, 2013 and utilizing Deloitte's December 31, 2013 price forecast and discounted at 10%, is $68.1 million and the net present value of total proved reserves as at December 31, 2013 is $31.8 million. Reserve replacement was 843% on proved reserves and 989% on proved plus probable reserves. Total future development capital for Northern Spirit's proved plus probable reserves at December 31, 2013 is $26.9 million scheduled over two years. Total future development capital for Northern Spirit's total proved reserves at December 31, 2013 is $13.5 million scheduled over two years. The company's proved plus probable (10% discount rate) net asset value per share as at December 31, 2013 is calculated at $0.21 per share (basic) including an internal land value of $2.7 million and $0.20 per share (basic) excluding land value.

 

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