GREY:STPJF - Post by User
Post by
awol1on Oct 28, 2009 9:39pm
318 Views
Post# 16433468
SAGD project-
SAGD project-from a previous news release........
On May 29, 2009, Southern Pacific filed an application for a commercial steam assisted gravity drainage ("SAGD") project on its McKay block. Southern Pacific owns an eighty percent (80%) working interest in the STP-McKay project, which is comprised of 10.5 sections of the Corporation's 269 gross sections of oil sands leases on Alberta's Athabasca fairway. On July 7, 2009 Alberta Environment deemed the STP-McKay project application to be administratively complete. Formal public notification and newspaper advertisement of the application will now commence shortly.
On a promising note, insiders have been buying recently, wonder if this means that things are moving along nicely?
Anyone know how long it will take for this to be formally approved and they can move on? Wonder when we can expect some news. Hopefully oil is on the rise again when this happens.
tks in adance and glta
awol