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

To: Taikun who wrote (15610)	9/6/2007 7:31:42 PM
From: Taikun	Respond to of 25575

OSUM in the news OSUM welcomes the opportunity to have a dialogue with government on Marie Lake program CALGARY, Sept. 5 /CNW/ - OSUM is aware of media coverage of the Government of Alberta's decision to suspend the previously approved program of seismic data acquisition at Marie Lake. "We believe the seismic acquisition program is safe and we will endeavour to have a dialogue with the government in order to answer any questions they believe are unanswered," stated OSUM President and COO, Peter Putnam. "In his public statements, Premier Stelmach has indicated his government's willingness to learn more about our oil sands process and we welcome the opportunity to demonstrate its substantial environmental and recovery advantages," he continued. The proposed recovery mechanism is the same Steam Assisted Gravity Drainage (SAGD) approach used commonly throughout the oil sands, except the wells are delivered from a passageway far below ground instead of from pads on the surface. This results in a dramatic reduction in the surface footprint. In addition, the process is more efficient because it requires less energy than traditional thermal methods to recover the same amount of oil, reducing the greenhouse gas emissions per barrel of oil recovered. OSUM Chairman and CEO, Richard Todd added, "I am surprised this statement was made because industry has performed seismic testing on more than 30 lakes in Alberta without negative impact, and the Alberta government's Sustainable Resource Development department previously approved the seismic application. In our opinion, a decision such as this can have significant negative industry impact and implications well beyond our proposed seismic program at Marie Lake." OSUM Oil Sands Corp. is a privately held, Alberta based company whose mission is to provide secure, safe energy to North Americans through innovation and environmentally responsible approaches.