Partners

The Metro Group Inc. is a private oil and gas company, whose directors have significant experience and expertise in geology, prospect generation, field operations, and oil and gas marketing.

Metro is a specialist in conventional and shale gas and has a number of leases that it operates in the conventional and shale gas formations in the USA. It was amongst the first operators in the Woodford Shale formation in Oklahoma and has worked closely with major corporations involved with gas shale including Devon Energy Inc, the largest shale gas producer in the Barnett shale and in the USA and Newfield. Together with its Joint Venture Company, Metro has drilled over 28 vertical wells to identify the best fracture stimulation techniques. It is now the operator of 18 wells.

To unlock value in conventional and shale gas it is key to acquire acreage positions ahead of competition - under the USA system this requires teams of experts and takes time. Metro has a team of attorneys and highly experienced oil and gas professionals and is therefore ideally positioned to aid in the acquisition of additional acreage. It also employs 35 permanent and temporary staff.

Irvine and Metro have a Joint Venture agreement for Irvine's acreage position on the Chattanooga Shale formation whereby Metro has assumed the position of operator and holds a 25% working interest in the project.

Irvine has entered into an additional agreement with Metro having purchased a producing and prospective oil and gas acreage in Oklahoma ('Oklahoma Project') and Kansas ('Niobrara Project'), where by Metro will be the operator with a 50% working interest in the Niobrara Project and a 25% working interest in respect to 10% of the assets and 50% in respect to the remainder of the Oklahoma Project.