TORONTO, Aug. 15 /CNW/ - On July 24, 2008, Access Energy Inc. ("Access
Energy" or the "Company") announced that it intended 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.
Yesterday, the Province of Saskatchewan announced that there were no
successful bidders for these oil sands exploratory permits.
Paul A. Parisotto, President & CEO, stated, "We are disappointed that the
Province of Saskatchewan determined that the bids for these oil sands
exploratory permits were not acceptable. The acquisition of the permits fits
within the Company's mission to acquire, explore and develop unconventional
oil in western Canada, and therefore we intend to ask the Province to re-post
these permits for bidding".
Chief Louie Chanalquay of the Buffalo River Dene Nation ("BRDN") stated
that "The members of the Buffalo River Dene Nation are very disappointed that
the Province did not grant the oil sands exploratory permits to Access Energy
so that the Company can begin exploration work which in turn will lead to
employment, infrastructure improvements, capacity building, and eventually
self-sustainability for our members".
In addition, Mr. Parisotto provided the following information in relation
to Access Energy'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 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 those agreements; 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)
There is no assurance that Access Energy will be successful in getting
the Province to re-post these oil sands exploratory permits, or in its bids
for such 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)