Connacher Oil and Gas Limited has received a letter from the Alberta Energy and Utilities Board (“EUB/Board”) which responds to the August 15, 2005 application by Connacher Oil and Gas Limited (“Connacher”), requesting approval to implement a steam-assisted gravity drainage (“SAGD”) scheme for the production of bitumen from the McMurray Deposit in the Athabasca Oil Sands Area.
The letter states “After reviewing the application and all of the additional materials filed to address issues raised in respect of the application, the Board has determined that the Great Divide Oil Sands Project is in the public interest and has approved Application No. 1414169, pending an Order in Council and subject to the conditions in Approval No.10587.”
This is a significant positive development for Connacher and plans to initiate on-site activity will continue to be formulated and advanced, pending the issuance of the aforementioned Order in Council. Connacher also anticipates close cooperation with Alberta Environment and Alberta Sustainable Resource Development during the final stages of the planning phase and then during the ensuing construction and operational phases of its 10,000 bbl/d Great Divide Project.
