Confirming preliminary estimatesThe Feb 7th NR mentioned a timely release of the resource estimate to confirm these numbers. Could Chapman prepare the 51 in 6 weeks. Improbable. Pad the time line an extra 3 weeks and we're mid April.News along the line of what Can West issued would work.
Pasquia Hills, a property of 850,000 acres (1,300 square miles) is located
in east-central Saskatchewan, Canada. 44 test holes have been drilled to date
within the mine site. A third party engineering group has assigned, on a
fully risked basis, a resource of 2.4 billion barrels of oil from within the
mine site and a potential for the overall property of some 7.8 billion barrels
of oil to the north and west of the mine site. The Pasquia oil is a potential
source of petrochemical feedstocks. CanWest is the owner of the mine site and
its proposed processing plant.
Thornton Donaldson P. Eng, President, Chairman and Director of CanWest
Petroleum, stated, "Pasquia Hills is an important project for CanWest, as it
represents a long-term win for the Company. Upon completion of a positive
feasibility study, the 7.8 billion barrels of oil after primary separation,
may earn $55 per barrel of oil with a total production cost of $25 per barrel
of oil."
Or confirming what GNZ release in Jan:
CALGARY, ALBERTA--(Marketwire - Jan. 28, 2008) - Mr. Marc Dame, President and CEO of Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSX VENTURE:GNZ), is pleased to announce that the Corporation reports positive laboratory analysis results have been confirmed from the recently completed core hole drilling program on its Pasquia Hills oil shale permits in east-central Saskatchewan. The laboratory results revealed an excellent high oil yield of 61 liters per ton of rock (average of 16 samples covering 22 meters of thickness) which equates to recoverable oil in place of 57 million barrels of oil per section of land.
Goldnev's Pasquia Hills oil shale permits comprise of a total of 6 1/2 Townships (234 sections or 155,443 acres) of oil shale exploration and development rights in the emerging Pasquia Hills oil shale region in east-central Saskatchewan. Several other petroleum companies are actively developing new oil shale projects in the area including those of Oilsands Quest and Outrider Energy.