Message to the Shareholders
Welcome to SilverBirch Energy Corporation! Our new oil sands exploration and development company was created out of the Plan of Arrangement between UTS Energy Corporation and Total E&P Canada Ltd. that saw UTS investors receive a cash payment for the Fort Hills Project, as well as shares in this new company, which continues to develop the Frontier and Equinox Project and to pursue further exploration.
With almost 900 million barrels of contingent bitumen resources already established and a rich portfolio of both mining and in-situ oil sands properties, SilverBirch is uniquely positioned among pre-production oil sands companies. We have a well-defined plan to add value to our existing barrels by moving the Frontier and Equinox Project forward and to continue with the exploration program that has delivered excellent results in the past.
The Frontier and Equinox Project is one of the highest quality undeveloped oil sands mining projects remaining in the Athabasca oil sands region. We are developing this project in partnership with the Operator Teck Resources, a leading Canadian mining company.
Our proven, active and experienced management team is drawn entirely from UTS, and all of us have a history of working in the oil sands. In my own case, I’ve been based in Alberta for over 30 years and I have a technical background in mining, including leading the mine design of a couple of major oil sands projects.
We are excited to have the opportunity at SilverBirch to build new projects from the ground up. Greenfield project development enables us to take advantage of the tremendous technological advancements made in the industry in recent years, which help to increase the efficiency of oil sands operations and to reduce the environmental impacts, including in such key areas as tailings ponds, greenhouse gas emissions and water use. We also have strong relationships already established with the local communities in our lease areas. We will continue to put a high priority on stakeholder consultation and community relations.
With just over $50 million in initial capital from the UTS transaction, we are well funded for our current activities. We are considering all funding options for future development of our high quality assets, and we are also open to seeking additional opportunities, including exploring on our own land base, acquiring other assets, or partnering with other organizations.
It is an exciting time to be founding a new company in Canada’s oil sands, one based on excellent assets and led by an experienced team. Recent transactions demonstrate the continued global interest in the oil sands. If you are a former UTS investor, I hope that you will continue with us at SilverBirch. If you are new to SilverBirch, I encourage you to browse our website for information about our current projects, our future opportunities, and our proven plan to
build additional value for shareholders over time.
https://www.silverbirchenergy.com/investors/presidents-message/