Micron Enviro Systems, Inc. announces that the majority partner on Micron's Muskwa Oilsands Prospect, Patch International Inc. ("Patch"), has stated that this prospect is part of Patch's proposed 2007/2008 drill program. This prospect lies approximately 10 kilometers directly to the south of the Sure Royal Dutch Shell's prospect and in close proximity to multiple producing Alberta Oilsands Projects.
Bernard McDougall, President of Micron stated, "This is tremendous news for Micron. The two most important aspects of early stage Oilsands companies' development are the acquisitions of land and the testing of the land to prove up the potential resource in ground. With this announcement Micron is poised to test an Oilsands Prospect that management did not expect to work on this year with a partner that has already achieved successful results from Oilsands drilling this month.
This is an added bonus drill program at a time of historically high oil prices and great geopolitical chaos in most major oil producing regions outside of North America. Our shareholders have been pleased with the acquisitions of additional Oilsands property, but drilling the land has been an aspect that has been absent for some months and we expect this issue to be addressed. Drilling this prospect may enable Micron to have multiple Oilsands drill programs occurring in 2007-08 drill season. Micron's shares are now more than 60% below the recent highs despite that since that time the Company has added interest in 22,773 additional Alberta Oilsands acres, has attained positive results from the initial drill program on the Leismer Oilsands Prospect and is now proposing an additional Oilsands drill program. Management is excited about the future of Micron and is confident that additional Oilsands acreage can be added in 2007."
Recently Micron acquired an interest in 2,530 acres of Alberta Oilsands land. This new acquisition is contiguous to an acquisition completed by Micron earlier this year. This block is within and contiguous to the city of Fort McMurray and now forms a block of land that totals 3,795 acres. Fort McMurray is the primary city where most of the world's largest Oilsands facilities are located near, including Syncrude, Suncor and Petro-Canada.