Guys! Use your brains about ET!Please!!
The process described doesn't use any steam. It relies on gold-old electricity to heat the bitumen. Just shove the electrons down hole A and pump them up hole B. But how much enegy (not steam) do they need to circulate the electricity? How much natural gas? (They don't have electricity grids in northern Alberta).
If they are preaching low SORs, they are pumping their stock, not the oil. It's the energy cost per barrel of bitumen produced, not the SOT, that matters. And they are 3-4 years behind PBG in demo-ing this.
Not to say, if they were public, I wouldn't pick up some shares. I've bought lots of crazy ideas...but, so far, only a few winners like PBG.