Petrobank Energy and Resources Ltd. has announced the release of Whitesands Insitu Partnership's Public Disclosure Document relating to the proposed May River Project. The May River Project is Whitesands' project to recover bitumen from oil sands on leases held by Whitesands in the Conklin area of northeastern Alberta using the THAI (toe-to-heel air injection) in-situ combustion process.
The Document, which can be found on Petrobank's website (www.petrobank.com), provides information about the May River Project including commercial development plans, the regulatory process, and Whitesands' broad range of public involvement activities with regional stakeholders. The May River Project will consist of an initial phase with a production capacity of between 10,000 to 15,000 bbl/d of partially upgraded bitumen. This will be followed by additional phases to aggressively build production to 100,000 bbl/d.
Petrobank's patented THAI process is a step-change in the recovery of heavy oil and bitumen resources worldwide. While there are other technologies in use, the THAI process has many advantages ranging from speed of project construction, lower capital and operating costs, reduced environmental impact and higher resource recovery potential. We believe that THAI is the most sustainable of currently available technologies.
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