Time to move on or suck it up with the Ecuadorean plays
Yes...the road to Nirvana is not a straight line.
so....moving along...
I think little AOS.v is worth a look here since CLL seems to be getting its mojo working.
CLL.t has entered an affiliation with AOS.v and their ground.
CLL.t has the ability and cash flow resources to bring the AOS properties along.
Some might like to do some investigation here.
C
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Connacher pools oil sands rights with Alberta Oilsands
2008-02-25 18:48 ET - News Release
Mr. Richard Gusella reports
CONNACHER OIL AND GAS LIMITED AND ALBERTA OILSANDS INC. COMPLETE STRATEGIC POOLING OF CONTIGUOUS OIL SANDS ACREAGE IN THE HALFWAY CREEK/HANGINGSTONE EAST AREA OF ALBERTA
Connacher Oil and Gas Ltd. has entered into a pooling of 38.5 sections (24,640 acres) of contiguous oil sands rights situated south of Fort McMurray in the Halfway Creek/Hangingstone East area of northeastern Alberta with Alberta Oilsands Inc. (AOS). The pooling will result in the joint ownership, evaluation and potential development of any resources which may be identified by the evaluation program. There can be no assurance that developable resources will be identified from evaluation programs.
The agreement provides for the joint operatorship during the initial two years of the evaluation program, with Connacher the designated operator of any subsequent evaluation programs and of any identifiable development programs which may occur. The area is amenable to the application of steam-assisted gravity drainage technology (SAGD) should developable prospects be identified.
The first-year seismic and core hole drilling programs are currently under way and are anticipated to progress throughout the remaining winter months in 2008, with preliminary results expected later this year.
In conjunction with the pooling, an equalization payment which recognizes sunk costs and the disproportionate acreage contributions by the two parties will be made by Connacher to AOS.
The pooling provides Connacher with access to a significant increase in Connacher's contiguous gross land base in the region and it is anticipated it will result in economies in the evaluation of the potential of the region. Connacher's experience in accelerated delineation and development at its Great Divide project could be applied at Halfway Creek/Hangingstone East if the joint evaluation program proves successful.
We seek Safe Harbor.
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Alberta Oilsands drills, gets contingent resource bump
2008-04-03 10:06 ET - News Release
Mr. Shabir Premji reports
ALBERTA OILSANDS INC. ANNOUNCES OPERATIONS UPDATE AND CONTINGENT RESOURCE INCREASE AT THE FORT MCMURRAY PROPERTY
Alberta Oilsands Inc. has drilled a total of 34 core holes in the 2007-2008 winter drilling season at its Clearwater and Hangingstone East/Halfway Creek properties. The company also announces an increase in the amount of contingent resources assigned to its Fort McMurray, Alta., properties as described in the details below.
Fort McMurray -- Clearwater East and Clearwater West
Alberta Oilsands received approval from the Alberta Sustainable Resources Development to drill up to a total of 45 core locations on 10 sections of its 28 section contiguous land block in the Fort McMurray, Alta., area. This approval confirmed accessibility to a minimum of 10 sections on the parcel. Alberta Oilsands has completed coring of 15 wells: nine wells in the Clearwater East and six wells in the Clearwater West area. Preliminary results are positive, indicating gross pay range of 15 to 50 metres, weighted mostly to the high end of the range. Core analysis results are expected in the coming weeks and will confirm the size of potential commercial projects on the Clearwater properties. Drilling and coring activities resulted in an average of four wells per section and have been completed on March 26, 2008.
Hangingstone East -- Halfway Creek
Alberta Oilsands, in conjunction with Great Divide Oil Sands Partnership, an affiliate of Connacher Oil and Gas Ltd., acquired approximately 89 kilometres of 2-D seismic and drilled a total of 19 core holes on the Hangingstone East/Halfway Creek property. On Feb. 25, 2008, the company announced completion of a strategic pooling of 38.5 sections (24,640 acres) of contiguous oil sands rights situated southwest of Fort McMurray in the Township 86, ranges 9 and 10 W4M. Details of the agreement were outlined in the company news release on that date, as reported in Stockwatch. The transaction facilitates Alberta Oilsands' goal of rapid development of its Hangingstone East/Halfway Creek asset. Alberta Oilsands received an equalization payment and also gained access to 15.5 sections of additional gross contiguous lands with this pooling.
Contingent resource increase
As a result of the ASRD approval, successful well licensing and confirmed accessibility, Ryder Scott Company Canada, Petroleum Consultants, an independent petroleum consulting firm, has assigned additional contingent resources of 15 million barrels of bitumen to Alberta Oilsands' Fort McMurray property. This brings the total Alberta Oilsands Fort McMurray Clearwater property contingent resources assignment to 216 million barrels, a 7.5-per-cent increase.
The following table summarizes total contingent resources assignments to date.
Total contingent
Contingent resources assignment resources volume
(million barrels)
Original assignment -- Oct. 1, 2007 201
Additional assignment -- March 5, 2008 15
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Total Fort McMurray property to date 216
The contingent resource increase is noted in a recent Ryder Scott supplemental bitumen resource assessment dated effective March 5, 2008. Alberta Oilsands has previously disclosed that the Fort McMurray property was assigned 201 million barrels of contingent resources to a portion of the 28 sections of lands in a National Instrument 51-101-compliant report.
We seek Safe Harbor. |
