Emerging oil sands companiescomparison of companies developing oil sands assets inPeaceRiverGrande PrairieALBERTAEdmontonAthabascaCalgaryFortMcMurrayColdLakeSASKATCHEWANLloydminsterSaskatoonReginaKeen interest in the oil sands has led to the emergence of a number ofpublicly traded companies looking to tap into the world’s second largestoil reserve. The exploitation of oil sands resources generally involves farmore time and capital than conventional oil and gas development, and anumber of these emerging companies are now close to or at the point ofproduction. Although there are a number of senior producers, integratedsand several high-profile, private companies in the oil sands space, for thepurposes of this comparison, we have focused on emerging oil sands players,listed on either the TSX or the TSX Venture Exchanges. In most cases theirprimary focus is on oil sands development. Because of their high need fordevelopment capital, many of these companies are publicly listed to facilitateaccess to capital. With the potential for substantial production over manyyears, successful companies in this sector will deliver considerable value totheir shareholders. The challenge for investors is to find the companies thatwill succeed most expeditiously and to have the patience to see results.CompanyChief executiveStock symbol& exchange(t=tSX,V=Venture)Share priceAug 31, 2010($)market cap August31/10 share price &June 30/10 shareso/s($000)Area of focus(see map)Stage of developmentalberta oilsands Shabir premji V-aoS $ 0.29 $ 30,536 athabasca Delineation drilling SagD anticipatedathabasca oil Sands Sveinung Svarte t-atH $ 10.39 $ 4,014,914 athabasca Delineation drilling in situ recovery methodsBronco energy peter pelensky t-Bcf $ 0.185 $ 8,038 athabascaconnacher oil and gas richard gusella t-cll $ 1.20 $ 514,800 athabascaproduction fromeast Wabamum formationproducing from Q4/07,new pod completedexcelsior energy David Winter V-ele $ 0.33 $ 92,649 athabasca Delineation drillingRecoverymethodSagDSagDSagD or cogDanticipatedHabanero resources Jason gigliotti V-Hao $ 0.105 $ 9,084 athabasca Delineation drilling SagD anticipatedMeg energy William Mccaffrey t-Meg $ 31.240 $ 5,912,357 athabasca production SagDnorth peace energy louis Dufresne V-npe $ 0.165 $ 12,570 peace river/athabasca pilot on production since Q2 2009 cSS pilotopti canada christopher Slubicki t-opc $ 1.03 $ 290,203 athabasca production from Q3 2008 SagD, upgraderpetrobank energy John Wright t-pBg $ 36.98 $ 3,919,621 athabasca/peace river/SK pilots, licensing agreements tHaiSouthern pacific res Byron lutes t-Stp $ 0.98 $ 221,177 athabascaDelineation drilling;heavy oil productionSagD anticipatedutS energy William roach t-utS $ 3.54 $ 1,680,226 athabasca Development & planning Mining, upgradernoteS:1. oilsands Quest is traded on the amex exchange (BQi) and patch international is traded on the otc Bulletin Board (ptcH) and several german exchanges2. andora energy, grizzly oil Sands, laricina energy, Meg energy, oSuM, Sunshine oil Sands and Value creation are private oil sands players3. athabasca oil Sands completed an ipo on april 8 2010. Shares outstanding as at May 8, 20104. Southern pacific’s shares outstanding are provided as at May 31, 2010 of 316.2 million.A GUIDE TO THERMAL IN SITU RECOVERY METHODSSteam-assisted gravity drainage (SAGD)A method of producing heavy oil which involves two horizontal wellbores, one above the other; steam is injected into the upper wellboreand softened bitumen is recovered from the lower wellbore.Cyclic steam stimulation (CSS)A method of producing heavy oil which involves injecting steam, allowing time for the steam to heat and soften the heavy oil andproducing the oil from the same wellbore used to inject the steam.Toe-to-Heel Air Injection (THAI)A method of producing heavy oil which involves injecting air through a vertical well at the top of the reservoir, near the toe of ahorizontal well; a combustion front is then created which sweeps the oil from the toe to the heel of the horizontal producing well.Source: The Centre for Energy.48BRYAN MILLS <strong>IRADESSO</strong> • i Q . BMir.coM
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