To: jkl77™ who wrote (64 ) 3/19/2008 12:23:22 PM From: NYBob1 Respond to of 85 Massive shifts in spending to Saskatchewan - Planned changes to the royalty regime in Alberta continue to fuel further investment interest in Saskatchewan's oilpatch"We've seen massive shifts in capital spending slated for this year coming up from other parts of Canada ," , Sask. oilpatch draws investment interest: Wall Angela Hall, Regina Leader-Post Published: Saturday, March 15, 2008 Sask. oilpatch draws investment interest: Wall REGINA -- Planned changes to the royalty regime in Alberta continue to fuel further investment interest in Saskatchewan's oilpatch, Premier Brad Wall says. Wall, in New York to promote the province's energy potential, said he heard a "huge amount of interest" in Saskatchewan on the trip, partly due to what's seen as undeveloped potential here but also because of the royalty changes in other jurisdictions. "We've seen massive shifts in capital spending slated for this year coming up from other parts of Canada to Saskatchewan," Wall said in a conference call from New York, where his trade mission had just wrapped up. "Company after company we met with said they're going to be significantly increasing their investment and we want to see that that's encouraged." Wall spoke in New York at the East Coast Energy Conference, attended by representatives of Canadian energy companies as well as institutional money managers from the U.S., and met separately with officials from several individual companies. Wall said Saskatchewan's royalty regime came up in a number of meetings, with industry seeking confirmation that the province has no plans to hike royalties. "What the investment community doesn't like even more so than high taxes is uncertainty," Wall said. The Alberta government's controversial royalty plan for oil and gas projects, which comes into effect next year, is expected to generate an additional $1.4 billion for the province. Roy Schneider with Saskatchewan Energy and Resources said the changes in Alberta certainly haven't hurt Saskatchewan, though it can be hard to quantify how much they have actually helped. With oil at more than $100 a barrel, an oil-producing province such as Saskatchewan would expect increased activity, he said. However, a few companies publicly stated last year an intention to shift investment from Alberta. Saskatchewan's strong sales of petroleum and natural gas rights are one indicator of industry confidence and future activity levels, said Schneider. Saskatchewan set a new record for annual Crown land sales of $250.3 million in 2007, and strong sales have continued into 2008, he said, adding Saskatchewan has worked to be competitive but also wants avoid an "us against them" situation with Alberta. Wall's trip to New York came on the heels of a trip to Washington, where he also promoted energy opportunities in the province. Wall has said he has also talked about Saskatchewan's work in carbon sequestration, its plans for a clean-coal pilot project and developments to lessen the environmental impact of oilsands developments. However, Ann Coxworth with the Saskatchewan Environmental Society said the premier should be talking up other energy opportunities as well, including wind and solar. Clean-coal technology may be an improvement from current conventional coal-fired plants, but the funds required to develop it might be better spent on energy efficiency measures and alternative forms of energy production, she said. Five-fold increase in activity planned for tar sands -video.google.com God Bless Americasiliconinvestor.com siliconinvestor.com