CanWest to drill Alberta oil sands prospect

By OGJ editors
HOUSTON, Sept. 21 -- CanWest Petroleum Corp., Calgary, plans to drill 12 exploratory holes this winter on the Eagle Nest Prospect in the Athabasca oil sands of Alberta.

CanWest recently bought the 23,040-acre prospect, 70 miles west of its Firebag East Oil Sands Project, for $727,187 cash. It owns the prospect through subsidiary Township Petroleum Corp.

The drilling, estimated to cost $2 million, will attempt to confirm an estimate by the Alberta Energy Utilities Board's Crude Bitumen Resource Atlas of May 1996 that the prospect has 3.4 billion bbl of bitumen in place.

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