Alberta Oilsands Inc. (TSX-V:AOS) is a Calgary, Canada-based oil sands developer focusing on bitumen resources in the Athabasca oil sands region of northeast Alberta. AOS utilizes underground or in situ recovery, ensuring a small physical footprint and reduced surface disturbance. AOS leases the bitumen rights to 106 net sections of lands.
The Company’s primary goal is driving its Clearwater project to production. Clearwater is based on a solvent-low-pressure (SLP) SAGD production design. The December 2010 application update for Clearwater Phase I is currently under review by regulatory authorities.
AOS is committed to transparent and positive relations with its stakeholders. This includes consultation throughout the development cycle. Health, safety and the environment will be protected through a SAGD project that is technically sound with reduced emissions through a lower steam-oil ratio, backed by state-of-the-art monitoring and response plans. The Clearwater Project can provide significant and long-term economic benefits to the community, including the Fort McMurray Regional Airport. The benefits to the community will include employment and contracting opportunities during construction and operations.
Relative to the gigantic scale of the Alberta oil sands, AOS is a smaller company. But small in the oil sands is still a very large opportunity. Production potential at Clearwater is estimated at 15-25,000 barrels per day. AOS’s smaller corporate size results in low overhead costs, an entrepreneurial culture and responsiveness to input from stakeholders. AOS is led by an experienced management team and is supported by industry-leading technical consultants.