"Success of THAI"... 1st Licence agreement maThis will set the cat amongst the pigeons!
Any guesses for an opening tomorrow?
1st license agreement
PBG acquires 50% interest in property
CALGARY, ALBERTA--(Marketwire - Nov. 1, 2007) - Petrobank Energy and Resources Ltd. ("Petrobank" or the "Company") (TSX:PBG - News; OSLO:PBG - News), is pleased to announce that we have entered into a THAI(TM) license agreement and acquired a 50% interest in certain heavy oil lands and related assets in the Peace River region of northwest Alberta (the "Dawson Property") owned by Duvernay Oil Corp. ("Duvernay").
Chris Bloomer, Vice President Heavy Oil, commented, "With the success of our THAI(TM) operations at WHITESANDS, we are eager to commence a roll-out of this technology into other reservoir applications, both here in Canada and internationally. Initial development plans at Dawson will involve an update of the existing reserve evaluation and a two-well THAI(TM) project, which can then be expanded to accommodate additional wells on the property. Petrobank will be the operator and we intend to commence engineering and regulatory work to undertake this THAI(TM) project in 2008."
Toodle Pip.
Aris