Canadian Oil Project

Area Map

 

Marker Shows Osprey Saskatchewan Oil & Gas Development Project Location

Nick Kontonicolas in front of Osprey Heward Pump Jack

 

 

Osprey Heward Oil Takeoff Sampler

Osprey Heward Screw Pump Well

John - Field Mgr, Nick - CEO CTrade, Ward - CEO Osprey

John - Field Mgr, Nick - CTrade CEO, Bob - GMND CEO

Nick and John discuss tank capacity

Typical Drill Rig used in the area

During our visit in October we had temperatures of about 10 degrees F with 30 knot winds but drilling rigs were in operations all over – at least 30 counted in a five mile area. The project is an expansion of existing operations with additional wells to be drilled vertical and horizontal to maximize output.

Green Mountain and C. Trade Group Propose JV with Osprey for Canadian Oil Field Development Project

CARLSBAD, Calif. – November 5, 2012 – Representatives from Green Mountain Development Corp (Pinksheet: GMND), and C. Trade Group met in Calgary, Alberta last week with Osprey Oil & Gas Ltd management as a follow up to the recently signed project development agreement between GMND and Osprey.  The parties visited oil well sites in Alberta and southern Saskatchewan along the northern tier of the vast Bakken formation.  The parties discussed project financing, compliance, project implementation logistics, and a joint venture deal structure for a multi-well development project the companies plan to begin in this quarter.

Green Mountain and C. Trade are assisting Osprey with project development of drilling leases from acquisition to commercial production.  C. Trade Group discussed product distribution logistics and the use of its network resources to accelerate Osprey development efforts and also presented Osprey with a draft JV agreement which is now in the review stages between the parties.  The parties reviewed engineering and geological presentations, vertical and horizontal drilling options and also visited existing producing wells in Saskatchewan and the plans for site expansion.

The parties have agreed to the structure of a JV agreement to be signed this quarter with project commencement to begin shortly thereafter as much of the new drilling can only be done in the winter months.  Green Mountain participates in the net income of the Joint Venture.

Robert Brehm, CEO of Green Mountain stated, “I want to thank Osprey and C. Trade for giving us the opportunity to provide project development services in the energy sector.  Expanding our baseline revenue sources enables us to build revenue for GMND on multiple fronts.”

About Green Mountain Development Corp

Green Mountain Development Corp provides project development services for capital providers and technology operators and distributes licensed products related to the energy, agricultural and environmental sectors.

Investors and media contact Robert Brehm at 619/488-3744 (bob@greenbizness.com) or visit the corporate website www.GreenBizness.com for news and updates.

The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words “estimate,” “anticipate,” “believe,” “expect” or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company’s status as a development stage company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company’s actual results could differ materially from those discussed herein.

Green Mountain Development and Osprey Oil & Gas Ltd Sign Canadian Oil Field Project Development Agreement

CARLSBAD, Calif. – November 2, 2012 – Green Mountain Development Corp (Pinksheet: GMND), announced today that it has entered into an Oil Field Project Development Agreement (the “Agreement”) with Osprey Oil & Gas Ltd of Calgary, Alberta.  The Osprey project opportunity was brought to GMND CEO, Robert Brehm, by long time business associates who have followed the company’s progress with energy related projects.

The Osprey development projects are in Alberta and southern Saskatchewan which lies along the northern tier of the vast Bakken formation, the biggest energy pool to be tapped in North America for 50 years. The Bakken is a massive energy play that contains hundreds of billions of barrels of oil and is transforming the economy of Middle Canada.  When only a tiny percentage is recovered, it means huge injections of jobs, capital and consumer spending into parts of the Saskatchewan, Manitoba and Alberta.

Green Mountain is assisting Osprey with preliminary development work including project due diligence, financial review and onsite investigation, identification of capital sources and negotiation of a joint venture (JV) deal structure between investors and Osprey.  Green Mountain draws upon its prior experience and resources of its affiliate partners to develop a JV structure to transition Osprey drilling leases from the acquisition stage to commercial production. As part of its compensation for bringing all parties together, Green Mountain has a participation in the Joint Venture.

Robert Brehm stated, “We are delighted to work closely with Osprey management and their affiliate vendors on this energy project and future expansions.  We believe we can bring capital and additional energy partners to the JV to improve project returns.”

About Green Mountain Development Corp

Green Mountain Development Corp provides project development services for capital providers and technology operators and distributes licensed products related to the energy, agricultural and environmental sectors.

 

Investors and media contact Robert Brehm at 619/488-3744 (bob@greenbizness.com) or visit the corporate website www.GreenBizness.com for news and updates.

 

The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words “estimate,” “anticipate,” “believe,” “expect” or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company’s status as a development stage company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company’s actual results could differ materially from those discussed herein.

Area News Links of Interest

Oil boom lets Saskatchewan plot its own course

BAKKEN Boom Facts

 

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