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Gold/Mining/Energy : Oil Sands and Related Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (7405)	3/3/2006 1:32:40 PM
From: - with a K	Read Replies (1) \| Respond to of 25575

Using similar logic in buying PBG.TO, I started a position in CWPC this morning. I tried to get cute with some limit orders yesterday but they didn't fill. This is my capitulation. ;>) Chart: stockcharts.com[l,a]daclyiay[pc21!f][vc60][iut]&pref=G From their website: CanWest Petroleum Corporation is a unique oil and gas company with exposure to significant upside value from three large world-class projects with the potential for several billion barrels oil resource. Thornton Donaldson, President, noted "Our Company has strategically positioned itself as the controlling shareholder of Oilsands Quest Inc. (with 70% equity), a private Calgary based company that now holds the second largest prospective land position in the Athabasca Tar Sands Region known as Firebag East. Oilsands Quest Inc. is the operator and under the direction of its' president Christopher Hopkins is prepared for a major exploration program starting early November 2005 as to 150 drill holes with the potential to discover a world class oil resource of several billion barrels which is in keeping with the reserves to the west. This is truly a major achievement for an emerging-growth junior company such as ours" Mr. Hopkins, President of Oilsands Quest, was a Senior Vice President of Synenco Energy Inc during its formative years which now plans to produce 100,000 barrels oil/day by 2009 with announced reserves of more than 1.5 billion barrels oil from its Northern Lights Project. CanWest has recently acquired a 100% interest in 23,040 (one township) acres of prospective Athabasca Oil Sands within the Athabasca District subject to certain cash payments and royalties as to 9 cents per barrel. The Energy Utilities Board estimates 3.4 billion barrels of reserves. Based on several drill cores and logs on the Eagle Nest Prospect, the bitumen pay in the McMurray formation averages 20 meters thick and grades over 8% bitumen by weight and may be suitable for SAGD production. The Company is in the process of seeking approval for a 12 well exploration core hole program that may be drilled in the first quarter of 2005. The Company also owns 97% of the Pasquia Hills Oil Shale project located in eastern central Saskatchewan and covers approximately 850,000 acres with 50,000 acres deemed a mine site area. The mine site contains a drill indicated resource of 2.3 billion barrels shale oil (44 drill holes) on a fully risked basis that grades 7.5% kerogen by weight of which 59% are aromatics including benzenes, naphtha, olefins and parafins with an overall potential of 8 billion barrels. The benzenes and naphthas are characterized by Nova Chemicals as petrochemical feedstocks. The Company is in a joint venture with Nova Chemicals to complete a feasability study. At this time, Apex Engineering is building a steam assisted retort to identify maximum yields as well the Company is also recalculating the ore body to identify the highest grade pay zone as to one billion barrels. ************************** INVESTMENTConsiderations: 2nd largest land position (846,000 acres) next to EnCana’s (1.2 million acres) in Athabasca Oil Sands region with potential for several billion barrels oil (bitumen) 150 well exploratory core hole drilling program to start early December at the Firebag East Project. Program has the potential to increase the Athabasca known reserves by some 15%. Alberta Government’s Energy Utilities Board estimates an in place resource of 3.4 billion barrels bitumen (oil) at the Athabasca Eagle Nest Project. 850,000 acre Pasquia hills oil shale project under JV Agreement with Nova Chemicals Corporation (NYSE) to develop its 2.4 billion barrel shale oil deposit. Current 16 man permanent drilling camp to be increased to over 100 personnel by January 2006. Significant Potential Value from World Class Projects in the Vast Athabasca Oil Sands and Oil Shales of Canada