Uranium Power Begins Pasquia Oil Shale Study
Uranium Power Corp.
|Tuesday, March 30, 2004
Uranium Power Corporation reports that the initial phase of the 2004 Pasquia Hills pre feasibility study has commenced with the engagement of UMATAC Industrial Processes that operates the Alberta Taciuk Process pilot facilities in Calgary, and is recognized as the leading technology for commercial scale oil shale development. The Alberta Taciuk process was used to finalize engineering design for the Stuart oil shale operations in Australia, which is producing approximately 4,000 barrels oil per day. Their pilot plant includes three test facilities which are bench scale batch testing; continuous flow testing that closely replicates a commercial operation with extensive performance measuring equipment; and a large scale pilot plant which operates at a commercial scale. Initially, Uranium Power Corporation will complete a definitive process evaluation utilizing the continuous feed pilot facility with the objective of confirming earlier batch testing yields of up to 59% aromatics with the potential to be valuable petrochemical feedstocks.
The Company has contracted Nanook Exploration Ltd. of Saskatoon, Saskatchewan, to extract the required volumes of Pasquia Hills Oil Shale from the prospective Mine Site for several tests. Nanook will core drill and recover oil shale from the 45-meter (148 feet) thick ore zone located approximately 21 meters (69 feet) from surface.
Other emerging oil shale processing technologies will subsequently be considered should they offer the prospect of improved performance and cost advantage to the Alberta Taciuk Process results.
The Pasquia Hills Oil Shale Prospect comprises 1 million acres of land under permit located in central Saskatchewan, Canada. The 50,000-acre mine site contains an in situ resource of 4.3 billion barrels of shale oil. The shale oil has yielded up to 59% aromatic hydrocarbons in earlier batch retort tests. The aromatics may be a valuable petrochemical feedstock for the plastics industry and, after refining, have a potential value of $84 USD per barrel.