Oilsands Quest Continues Promising Exploration
Friday, March 09, 2007 at 17:12
An official with Oilsands Quest says the future looks bright for the company’s drilling project north of La Loche.
Terry Lauder says there could end up being as many as 7 commercially-viable operations on the company’s 508,000 net acres of property in that region, given the large amount of bitumen discovered in three separate drilling sites.
He notes the site located closest to the Alberta border looks especially promising.
Lauder says the company has been attributed with discovering 449 million barrels of original bitumen in that site alone.
Including the rest of its drilling sites, he says Oilsands Quest has discovered a total of 525 million barrels of original bitumen.
Lauder says if a commercial operation ever becomes a reality at the site, technology has reduced the amount of water needed to convert bitumen to oil.
He says it used to take five barrels of water to make one barrel of oil, but that is now done to two barrels of water.
Lauder notes the company is currently using water from nearby lakes and streams for the drilling work, but it’s a minor amount right now.