CanWest to drill Alberta oil sands prospect

Sept. 21, 2005
CanWest Petroleum Corp., Calgary, plans to drill 12 exploratory holes this winter on the Eagle Nest Prospect in the Athabasca oil sands of Alberta.

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.