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 and 2007/2008 to further delineate and define the size and extent of the bitumen resource. Public Disclosure Documents for an expansion of the Hangingstone project were filed on May 7, 2008.  Commissioning and start-up of the facilities is expected in the third and fourth quarters of 2014.