The area is the central BMD core that is being drilled out in comparrison to the total 2 million acres, this Oil Sands Project is EXPOSING the Limestones and Dolomites at NEAR SURFACE bedrock in this , somewhat as per the slide show download feature of a FAILED OIL SYSTEM as per the few Carlin Trend slides for any one to see that I posted here a few posts back...
freeyellow.com
OIL is the REASON that the HEAT and SECONDARY ENRICHMENT happened in these MVTs and or Carlins. I in fact have 3 claims of mine in another non Canada / non Carlin Trend area OVER old Freeport McMoran Oil Leases that were drilled out and let to expire. My PGM Targets and others it appears are infact Old Oil Fields that resettlted and drifted thru the faults over time:
...Oil Sands Investments announced today that there will be no second quarter distribution, reflecting their decision to re-invest in the Syncrude project in a year in which record capital expenditures of $660-million (approximately $77-million net to Athabasca) are anticipated.
The board noted that excellent progress continues on the Syncrude joint venture's expansion plans. The second mining train at the North mine was completed in June, two months ahead of schedule. The power generation plant for the Aurora project was completed and began providing power on July 7, also two months ahead of schedule. Other major components of the Aurora expansion are proceeding ahead of schedule and under budget. Capital expenditures of $26-million for the quarter bring the year-to-date total to a record $48-million.
"We are very pleased with the progress being made on the major capital programs at Syncrude. They have had a smooth start-up of the North mine train, and are well ahead of schedule and under budget at Aurora," says chairman Walter O'Donoghue. "These projects pave the way for the strong production growth expected in the years to come."
The capital expenditures required for the Syncrude expansion program exceeded the $28-million in net cash from operations. Athabasca Oil Sands Trust used the $49-million in proceeds from its successful equity offering of 2.75 million units to help financing 1999 capital expenditures and to repay all of Athabasca's bank debt. Reflecting these considerations, and consistent with past practices, it has been determined that there would be no second quarter distribution to unitholders of the Athabasca Oil Sands Trust.
Athabasca's Syncrude Sweet Blend (SSB) revenues of $54-million for the second quarter of 1999, were $5-million higher than the same period last year, as substantially higher crude oil prices more than offset a decline in sales volumes.
above from thje News Release on Oil Sands Yesterday, and below from POST 0 here in the Thread Header:
. Birch Mountain
holds nine exploration permits totaling 82,944 hectares (approximately 205,000
acres) adjacent and to the north of the Kennecott/Montello/Redwood joint
venture property which hosts at least one announced diamondiferous kimberlite
intrusion.
Birch Mountain announces that it has completed an agreement to acquire
all interests of Focal Resources Ltd. in three exploration permits and two
precious metal leases in the Ft. McKay region of Athabasca for consideration
of 37,500 shares and a 2% net smelter return. In the Yukon, Birch Mountain
has elected not to continue its option to acquire a 100% interest in First
Yukon Silver Ltd.'s Swift River property. Some additional claims staked by
Birch Mountain in 1997 in the Swift River area have been allowed to expire
while others have had sufficient assessment expenditures filed to maintain
them in good standing until April 10, 2001.
now The JV: CODEVELEMENT SECTION of The Company Website:
At birchmountain.com
... Through co-development agreements signed with Syncrude Canada Ltd. and Suncor Energy Inc., Oil Sands, and a cooperation agreement with Shell Canada Limited/BHP Diamonds Inc., Birch Mountain now has unprecedented access to a vast resource of technical and geological information pertaining to the geology of our Athabasca exploration permits.
The pioneer co-development agreement with Syncrude Canada Ltd. in 1997 enabled the Company to sample more than 150 drill cores, and examine over 275 electric logs, from holes drilled within the Syncrude Canada Ltd. Aurora Mine development area.
In 1998, similar agreements were signed with Shell Canada Limited/ BHP Diamonds Inc. and Suncor Energy Inc., Oil Sands, that are expected to provide additional benefits to Birch Mountain as future oil sands development extends across the Company's Athabasca exploration permits.
Discussions have begun with other potential oil sands operators, and additional co-development agreements may be finalized in 1999.
..
Chucka |
