PROJECT
Saskatchewan—assets its officers
had worked on before.
“We were able to reacquire
acreage we were familiar with as a
main cash generator to pay the bills
while we focused on the oilsands,”
Gusella explains. “We did our
homework and accessed all the
public data that we could. We
selected our lands based on the
leases we developed from the data
we reviewed, and we were successful in buying everything we posted.
There was some reasonable scientific basis for what we did: the early
mapping has been validated.”
There is an estimated 180 million
barrels of original oil in place on the
Pod One location, with an anticipated
108 million barrels of recoverable
resource. Chief operating officer
Peter Sametz says the company was
able to use three-dimensional seismic surveys to productively delineate
the target oilsand channel. He
explains that many target SAGD
reservoirs are made up of layered
oilsands channels and can be difficult to define.
“We have a fairly simple, clean,
high-quality reservoir. We’re sitting
right on top of the Devonian, and it
is actually very flat,” Sametz says.
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