Future Development
JACOS (75%) along with NEXEN
(25%) are pursuing development plans for the larger portion of the Hangingstone lease.
An extensive 3-D seismic program was conducted over part of the prospective bitumen area in 2002. Additional exploration core-hole drilling and 3-D seismic survey were conducted in the winters of 2006/2007, 2007/2008, and 2008/2009 to further delineate and define the size and extent of the bitumen resource. The Public Disclosure Document for the expansion of the Hangingstone project was filed on May 7, 2008. The final Terms of Reference was received from Alberta Environment on February 2, 2009. Work is now completed on the EIA and the project application has been submitted on April 29, 2010.
Commissioning and start-up of the facilities is expected in the third and fourth quarters of 2014.
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