Strata Oil and Gas, a leader in the exploration and development of heavy oil from carbonates, announced Tuesday the company has engaged international consulting firm Norwest Corporation to conduct a 51-101 compliant engineering resource evaluation of 22 sections of its Cadotte West holdings. The works includes the incorporation of any new data that has become available to update the previously reported Cadotte East feasibility study.
Currently, Strata is executing on Phase 1 of a five phase plan to develop its 52,480 acre holdings, located in the Peace River region of Alberta's Carbonate Triangle. The Cadotte West holdings comprise of approximately 14,080 acres.
Founded in 1979 and headquartered in Calgary with offices worldwide, Norwest Corporation previously conducted similar studies for Strata's Cadotte East and other holdings.
"We are pleased to have a consulting firm of Norwest Corporation's caliber conducting the 51-101 study for Strata's Cadotte West holdings," said Ron Daems, president of Strata Oil and Gas. "Norwest has more than 30 years of experience as a leader in providing analysis, reporting, modeling and consulting expertise in oil sands projects in Canada and internationally. Their engagement in this important element of our Phase 1 plan is invaluable in assuring that we obtain an accurate and realistic valuation on our Cadotte West holdings."
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