Petroleum Oil Corporation A Canadian Intermediate Crude...

(TOURMALINE OIL CORPORATION) INTRODUCTION: (Introduction of the org - brief history and how they got to this point) Calgary’s Tourmaline Oil Corporation is a Canadian intermediate crude oil and natural gas exploration and production company. Tourmaline commenced active operations in the fall of 2008 with t a long-term business growth objective and listed on the TSX in November 2010. During 2010, Tourmaline has generated very strong growth in all reserve categories. Due to Tourmaline Oil Corporation’s strategies such as aggressive drilling and developing land position, adopting and employing advanced drilling techniques, pursuing strategic acquisitions and exploring new pool discoveries for drilling, has grown significantly since its commencing in 2008. â€Å"Proved Developed Producing reserves grew to 38.9 mmboe (million barrels of oil equivalent) in 2010, a 126% increase over year end 2009 (65% per share year over year), Total Proved reserves grew to 93.0 mmboe in 2010, a 167% increase over 2009 (95% per share) and Proved Plus Probable reserves grew to 158.2 mmboe in 2010, a 166% increase over 2009 (94% per share)†. Through a series of strategic acquisitions include farm-ins and land acquisitions, it enables active capital exploration and development program. 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