CALGARY, Sept. 5 /CNW/ - OSUM is aware of media coverage of the
Government of Alberta's decision to suspend the previously approved program of
seismic data acquisition at Marie Lake.
"We believe the seismic acquisition program is safe and we will endeavour
to have a dialogue with the government in order to answer any questions they
believe are unanswered," stated OSUM President and COO, Peter Putnam.
"In his public statements, Premier Stelmach has indicated his
government's willingness to learn more about our oil sands process and we
welcome the opportunity to demonstrate its substantial environmental and
recovery advantages," he continued.
The proposed recovery mechanism is the same Steam Assisted Gravity
Drainage (SAGD) approach used commonly throughout the oil sands, except the
wells are delivered from a passageway far below ground instead of from pads on
the surface. This results in a dramatic reduction in the surface footprint. In
addition, the process is more efficient because it requires less energy than
traditional thermal methods to recover the same amount of oil, reducing the
greenhouse gas emissions per barrel of oil recovered.
OSUM Chairman and CEO, Richard Todd added, "I am surprised this statement
was made because industry has performed seismic testing on more than 30 lakes
in Alberta without negative impact, and the Alberta government's Sustainable
Resource Development department previously approved the seismic application.
In our opinion, a decision such as this can have significant negative industry
impact and implications well beyond our proposed seismic program at Marie
OSUM Oil Sands Corp. is a privately held, Alberta based company whose
mission is to provide secure, safe energy to North Americans through
innovation and environmentally responsible approaches.
For further information:
For further information: Andrew Squires, Vice President Engineering,