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Oilsands Without Borders

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Historic drilling by Shell et. al. found bitumen in the 1970s ... August 2006: Independent assessment puts Firebag resource at 525 million barrels bitumen ... – PowerPoint PPT presentation

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Title: Oilsands Without Borders


1
Oilsands Without Borders
  • Why Saskatchewans Petroleum Reserves Could Rival
    OPECs

2
Why Were Here NYMEX Crude
3
Spare Oil Production Not What It Used to Be
4
The Future is Heavy
5
But Heavy is Not Friendly
6
Canada The Safe Choice
7
Development in Athabasca
8
Oilsands Quest (AMEX BQI) Pushing the Limits!
9
BQI Timeline
  • Fall 2004 Acquire 846,800 acres of exploration
    permit lands in NW Sask
  • July 2005 Saskatchewan govt stops granting
    oilsands permits
  • 2007 BQI will return 340,000 acres to govt,
    retaining 500,000 acres

10
Are there really oilsands in Saskatchewan?
  • Historic drilling by Shell et. al. found bitumen
    in the 1970s
  • Grade, porosity and oil saturation similar to
    Alberta

11
The Moment of Truth
  • October 2005 Approval for 25 hole exploration
    drilling program
  • November 2005 Road-building and camp
    construction
  • December 2005 Drilling underway!

12
Success!
  • Hole 1 18 meters of bitumen at 16
  • 19 of 24 holes find bitumen
  • Avg. thickness 21 meters, grade 14, depth 185
    meters

13
BQI Versus Athabasca
14
The Best is Yet to Come?
15
  • August 2006 Independent assessment puts Firebag
    resource at 525 million barrels bitumen

16
Room to Grow
  • Current resource covers only 1.5 of BQIs lands

17
What Will 2007 Bring?
  • Drilling began November 3,
    up to 8 rigs this winter
  • Interim results in January
  • Summer/Fall 2007 New resource
    estimate
  • Strategic partners?

18
Project Potential
19
The Prize
20
The Next Oil Power?
21
  • Dave Forest
  • www.caseyresearch.com
  • Oilsands Quest (AMEX BQI)
  • www.canwestpetroleum.com
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