What is "Veteran Resources Inc" ?

Veteran Resources Inc. was a Calgary based junior oil and gas company whose common shares are traded on the Canadian Venture Exchange under the symbol "VTI".

The Company sought opportunities to apply its advanced knowledge of underbalanced horizontal drilling UBHD, a process that provides significant advantages over conventional oil and gas drilling practices. In many instances, the application of underbalanced horizontal drilling will maximize productivity and reserve recovery by minimizing the formation damage, which occurs in drilling oil and gas wells conventionally.

During 1999 the Company field tested a new underbalanced horizontal drilling process designed specifically for low permeability gas reservoirs. Field testing of the process was satisfactory and Veteran believed that reliability will be significantly enhanced with additional testing.

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