TORONTO, July 24 /CNW/ - Access Energy Inc. ("Access Energy" or the
"Company") wishes to announce that the Company intends to submit bids for all
five of the oil sands exploratory permits covering approximately 810,000 acres
that were posted for sale by the Province of Saskatchewan (the "Province") on
May 29, 2008. The bids have to be submitted on or before August 11, 2008, and
successful bidders will be notified by the Province shortly thereafter.
"The acquisition of these oil sand exploratory permits fits within the
Company's mission to acquire, explore and develop unconventional oil in
western Canada", stated Paul A. Parisotto, President and CEO.
In addition, Mr. Parisotto provided the following information in relation
to the Company's bids for these oil sands exploratory permits:
- Access Energy entered into an exclusive and binding
Impact Benefit Agreement and Joint Venture Agreement with the
Buffalo River Dene Nation ("BRDN") in May 2007 which gives the
Company exclusive surface access to approximately 3,000,000 acres of
the BRDN's traditional lands;
- Access Energy's agreements with the BRDN run until at least May 2027;
- These oil sands exploratory permits fall within the traditional lands
of the BRDN and are covered by the agreements mentioned above; and,
- As part of the bidding process for these oil sands exploratory
permits, the Province of Saskatchewan placed a restriction stating
that "These mineral rights are located under Crown resource lands
administered by the Saskatchewan Ministry of Environment. Prior to
the approval of any surface dispositions that may adversely affect
Treaty or Aboriginal rights, the Ministry of Environment will be
required to undertake consultations in accordance with the Government
of Saskatchewan Interim Guide for Consultation with First Nations and
Métis People (the "Guide")." (Province of Saskatchewan Public Notice
No. 324, Specific Restriction S32)
Chief Louie Chanalquay of the BRDN stated that "The members of the
Buffalo River Dene Nation are anxious for Access Energy to acquire these oil
sands exploratory permits so that the Company can begin the exploration
process which in turn will lead to employment, infrastructure improvements,
capacity building, and eventually self-sustainability for our members".
There is no assurance that the Company will be successful in its bid for
these oil sands exploratory permits.
About Access Energy
Access Energy Inc. - a private Canadian company - is engaged in the
business of exploring for, developing and operating unconventional oil and gas
projects. Such projects may include oil produced from tar sands, also referred
to as oil sands, or bituminous sands, which are a combination of clay, sand,
water, and bitumen.
"Paul A. Parisotto"
President & CEO
For further information:
For further information: Paul A. Parisotto, President & CEO, (416)