RE: Confused about Marc's email - Rich471"confused here... is this the same drilling program to 'test' the lands ? Last significant news release I saw is the one that estimated tons of oil shale, and then needed to be further confirmed by more drilling.... what happened there????"
Yes you are correct. "This program includes the drilling of 10 core holes, targeting the Favel formation to examine, optimize information and further delineate the Corporation's oil shale resources in order to better identify the leading edge of the oil shale deposit and to better define the oil shale resources the on the Corporation's Pasquia Hills oil shale permits as described in the recently released NI 51-101 Contingent Resources Report."
They are also looking to add to this resource estimate, as well as define the outer boundaries. That drilling has not begun yet.
The Saskatchewan government has been under siege lately for permit approvals, and any delay just adds to extra time. If you look at the following posts I made with information courtesy of Mr. Dame you will see:
From Marc July 4th "The delay in the beginning of the drilling program was due to the
fact that we have 10 different landowners that we needed to get surface
access agreements in place and it has taken longer than anticipated to
get one of them signed off which has now been completed." https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=GNZ&t=LIST&m=23528962&l=0&pd=0&r=0
From Marc July 16th "As you may be aware the drilling program has been fully funded but we
have been delayed commencing the drilling program for a couple of
reasons, one being that we had to re-submit our drilling permits since
one of the drill holes was apparently located too close to a pipeline
which hadn't been picked up on the government pipeline maps we had
access to. We are drilling a three inch core hole over 150,000 acres of
land and somehow managed to place our drilling location right near a
pipeline, go figure. The drilling licenses have been re-submitted and I
expect to have them back some time next week. Since we need
to coordinate both the drilling rig and the on-site geologist and
believe that we now have a new planned drilling date which I still need
to confirm but we will be announcing shortly the core hole drilling
mobilization date." https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=GNZ&t=LIST&m=23566192&l=0&pd=0&r=0
And from Mr. Dame July 18th "We will be announcing the planned drilling program after we
receive the drilling license approvals which should be next week." https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=GNZ&t=LIST&m=23574257&l=0&pd=0&r=0
The delay in signing the tenth landowner and the need to change the drilling location of one hole has lead to the delays and the re submission of the license, but these bugs are now hopefully cleared.
These delays happen with most if not all the best laid plans. If your familiar with resource companies you know what I mean. We are however moving forward. To borrow this from another poster you have to expect the Ohshits in any business plan. rich47.