| Oilsands Quest announced the release of independent resource estimates for a portion of its Axe Lake and Raven Ridge properties. The estimates were prepared at the request of Oilsands Quest with an effective date of April 30. The company has not completed estimates for the remainder of Axe Lake and Raven Ridge, or at Wallace Creek, which the company believes are prospective. The lands over which the resource assessment was conducted comprise about 11% of the company's land holdings. Aggregate of bitumen resource estimates for Axe Lake, Ravens Ridge & Eagles Nest (in millions of barrels): discovered resources: low 2,383; best 3,250; high 4,215; economic contingent: low: n/a; best: 151; high: 786; undiscovered resources: low: 1,171; best: 2,246; high: 4,437; prospective resources: low: 28; best: 314; high: 1,283. The estimates reflect Oilsands Quest's 100% interest in the Axe Lake, Raven Ridge and Eagles Nest areas and represent only those resources that have been independently evaluated. :theflyonthewall.com |
