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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (156640)	4/17/2012 12:06:10 PM
From: Dennis Roth	1 Recommendation Respond to of 206133

Update: Rosneft gains Alberta Cardium oil play stake ExxonMobil trades part of interest in strategic deal By Rebecca Penty, Calgary Herald and Reuters April 16, 2012 Read more: calgaryherald.com excerpts: ...The agreement will grant Rosneft access to three projects in North America, where Exxon is developing hard-to-recover reserves in Alberta, West Texas and in the Gulf of Mexico.The two companies will also seek to transfer know-how from those projects to develop Rosneft’s own vast reserves of so-called ‘tight’ oil trapped in non-porous rocks like shale at three of its biggest fields in Western Siberia... ...Oil companies have breathed new life into the Cardium in recent years, using newer horizontal drilling and multi-stage hydraulic fracturing technologies to recover previously uneconomic oil in the geological structure that cuts through much of the province and has long been key to conventional oil production. Cardium oil output has totalled some 1.5 billion barrels since the 1950s, when the huge Pembina field was discovered. ExxonMobil has a “significant acreage position” in the Cardium, according to the joint statement, which noted RN Cardium Oil’s project may promote technology development that could be applied on unconventional reservoirs in Russia... ...Seeking to apply technological know-how of unconventional resource development in Russia, the partners will conduct a feasibility study into developing an estimated 1.7 billion tonnes of tight oil at Rosneft’s large Prirazlomnoye, Mamontovskoye and Priobskoye fields in Western Siberia... === Curious in light of what Vladimir Putin and Gazprom have previously said about fracking in Poland, Bulgaia, and Western Europe. I guess it's OK if a Russian company does it.