Crown Point Ventures have scheduled a drilling rig to drill two wells in southeast Saskatchewan, with drilling begun on July 18.

The wells will test the Bakken formation, and were set up by the operator in the field, Interwest Enterprises Ltd.

The company holds a 47.5 per cent working interest in both wells, and the total cost to the company will be $384,000, to be financed through the company's cash flow.

The company expected the drilling to take four days for each well. The company and their working interest partners hold mineral leases on 5,000 net acres of land in southeast Saskatchewan.

Crown Point Ventures is a Canadian oil and gas company headquartered in Vancouver, and is focussed on identifying, acquiring and developing oil and gas deposits in Canada and Argentina.

Crown Point Ventures, along with Interwest Enterprises, acquired three and a half sections of land in the southeast, which encompass an area of potential bypassed oil pay in the Bakken Sandstone. The companies were able to acquire partial rights in an additional five sections of freehold mineral rights in the heart of the Bakken play.