Bow Valley continues to execute a 2007 capital spending program of $ 75 millions for the U.K. United Kingdom , British Sterling funded North Sea which includes $ 29 million for exploration wells.
Bow Valley’s light oil development projects in the United Kingdom North Sea continue to become increasingly more visible with production at Enoch and Blane epected in Q2 /07 followed by Chestnut in late Q3/07 . In support of relatively conservative U.K. foreign currency projections which includes production and foreign reserves GLJ’s reserve report . This production and foreign reserves forecast does not represent full forex reserve and guidance based on varying assumptions.
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