chinaman711
03-26-2007, 09:27 AM
Thats alot of oil they are sitting on and they still have land leases that they have not even drilled on yet. When this whole story plays out i would not be surprised to see over 5 billion barrels of oil and who knows how much nat gas Source: Oilsands Quest Inc.
Oilsands Quest provides operations update and preliminary management estimate of bitumen resources
Monday March 26, 6:00 am ET
Amex: BQI
CALGARY, March 26 /PRNewswire-FirstCall/ - Oilsands Quest Inc. (Amex: BQI - News) provides a comprehensive operations update on the exploration program conducted in Saskatchewan and Alberta, including management's preliminary estimate of original bitumen resources in place (OBIP) in the Axe Lake Discovery area.
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Preliminary management OBIP estimate
The preliminary management OBIP estimate of the Axe Lake Discovery to date is as follows:
1.25 billion to 1.50 billion barrels OBIP (High Estimate - P10)
0.60 billion to 0.75 billion barrels OBIP (Best Estimate - P50)
Management's preliminary OBIP estimate of the Axe Lake Discovery area is based on management's assessment of the winter 2006/07 drilling program results up to and including March 25, 2007, together with the independently evaluated core and well log data from holes drilled during the winter 2005/06 drilling program (as reported on by Norwest Corporation in August 2006). The independent consultant's assessment of the Axe Lake Discovery will be completed in the fall of 2007.
The area of the OBIP estimate within the Axe Lake Discovery covers approximately 36 sections (1 township) of Permits PS00208 and PS00210 (100% Oilsands Quest) located in the north half of Township 94 and the south half of Township 95, Ranges 24 and 25 West of the Third Meridian. It is approximately 50 kilometres (30 miles) east of Suncor's Firebag operations.
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Oilsands Quest provides operations update and preliminary management estimate of bitumen resources
Monday March 26, 6:00 am ET
Amex: BQI
CALGARY, March 26 /PRNewswire-FirstCall/ - Oilsands Quest Inc. (Amex: BQI - News) provides a comprehensive operations update on the exploration program conducted in Saskatchewan and Alberta, including management's preliminary estimate of original bitumen resources in place (OBIP) in the Axe Lake Discovery area.
ADVERTISEMENT
Preliminary management OBIP estimate
The preliminary management OBIP estimate of the Axe Lake Discovery to date is as follows:
1.25 billion to 1.50 billion barrels OBIP (High Estimate - P10)
0.60 billion to 0.75 billion barrels OBIP (Best Estimate - P50)
Management's preliminary OBIP estimate of the Axe Lake Discovery area is based on management's assessment of the winter 2006/07 drilling program results up to and including March 25, 2007, together with the independently evaluated core and well log data from holes drilled during the winter 2005/06 drilling program (as reported on by Norwest Corporation in August 2006). The independent consultant's assessment of the Axe Lake Discovery will be completed in the fall of 2007.
The area of the OBIP estimate within the Axe Lake Discovery covers approximately 36 sections (1 township) of Permits PS00208 and PS00210 (100% Oilsands Quest) located in the north half of Township 94 and the south half of Township 95, Ranges 24 and 25 West of the Third Meridian. It is approximately 50 kilometres (30 miles) east of Suncor's Firebag operations.
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