some very key points....a producing company to be is trading this low ....i see why the insider loaded up
Binh Vu, interim President of Alberta Oilsands stated, "The submission of the remaining responses and an updated geo-mechanical reservoir model simulation to the ERCB provides strong support for approval of AOS' Clearwater application. This is a significant step on the path to production at the Company's Clearwater project."
The Company initially filed an application to the ERCB for a Solvent Co-Injection Low Pressure Steam Assisted Gravity Drainage (SLP-SAGD) pilot project at Clearwater with a design production capacity of 4,350 bbl/d of bitumen through six horizontal SLP-SAGD well pairs.
the Company plans to proceed to the commercial production phase and increase the production capacity at Clearwater.
The Company engaged GLJ Petroleum Consultants to prepare a NI 51-101 compliant resource report on the entire Clearwater project area based on delineation that included the results of the winter drilling program with an effective date of December 31, 2011. Gross lease contingent resources of 373 million barrels (MMbbl) were assigned on a best estimate basis.