Onion Lake, Saskatchewan
Onion Lake is a conventional heavy crude oil property with thermal development on a portion of the lands. BlackPearl originally acquired its interest in Onion Lake when it acquired Pan-Global Energy Ltd. in 2006. BlackPearl holds working interests, ranging from 50% to 100%, in approximately 17 net sections of land (10,856 net acres) located in the Onion Lake area of Saskatchewan. BlackPearl is the operator of the field which is located on the Onion Lake Cree Nation reserve, along the Saskatchewan/Alberta border near Lloydminster. The geological formations of interest are the Cretaceous Lower Cummings and Upper Cummings at a depth of approximately 650 metres.