Exploration & Processing - Winter 2011 - (Page 106)

ALBERTA OILSANDS INC. BY ALAN DORICH After starting as a conventional oil and gas firm, Alberta Oilsands Inc. has grown to have a resource base of more than 5 million barrels of bitumen in place. CALGARY-BASED ALBERTA OILSANDS INC. SAYS THAT ITS OILSANDS RESOURCES MAKE IT A STRONG COMPANY TO INVEST IN. PETROLEUM POTENTIAL F COMPANY PROFILE Alberta Oilsands Inc. www.aboilsands.ca 2010 budget: Nearly $100 million HQ: Calgary Specialty: Oil sands exploration Shabir Premji, executive chairman and CEO: “[Oil exploration is] a knowledge-based industry with constant innovation.” 106 | EXPLORATION-PROCESSING.COM or Shabir Premji, oil exploration is a challenging industry that always stays interesting. “It’s an exciting business,” the 29-year veteran of the petroleum industry says. “It’s a knowledge-based business with constant innovation.” Premji is the executive chairman and CEO of Alberta Oilsands Inc., a Calgary-based exploration and development company focused on the Athabasca oil sands. The firm originally started operations in 2004 as a conventional oil and gas firm, he says. However, in 2007, Alberta Oilsands changed its model “from a conventional company to an oil sands company,” Premji says. Today, the firm has 143 sections of oil sands, along with a resource base of more than 5 billion barrels of bitumen in place. Alberta Oilsands’ primary project is Clearwater, which consists of several sections of land near Fort McMurray, Alberta. Phase One of the project has most of the necessary infrastructure in place, and is awaiting approval from the Albertan government to start production. After it is approved, which is expected in the third quarter of 2011, production will start seven months later, Premji says. He adds that an independent evaluation by Ryder Scott Co. LP has determined that Phase One can produce WINTER 2011 http://www.EXPLORATION-PROCESSING.COM

Table of Contents for the Digital Edition of Exploration & Processing - Winter 2011

Exploration & Processing - Winter 2011
Redefining Refining
Synfuels Success
A Natural Solution
After the Fallout
Uranium on the Rise
Galleon Energy Inc.
Gibraltar Mines Ltd.
The Municipal Group of Companies
Selwyn Resources Ltd.
Redmond Minerals Inc.
Copper Fox Metals
Henry Resources
OFM Pump Inc.
Sunshine Oilsands Ltd.
Pacific Rubiales Energy Co.
Thermo Design Engineering
Alexco Resource Corp.
North American Palladium
Mammoet Canada Eastern Ltd.
KSM Inc.
Industrial Equipment Manufacturing Ltd.
Flexpipe Systems
Guyana Goldfields Inc.
Flotek Industries Inc.
Dominion Terminal Associates
Compressor and Engine Service LLC
BEHR Energy Services Ltd.
LoneStar Energy Fabrication
American Oil & Gas – The Goliath Project
Alberta Oilsands Inc.
Southern Petroleum Laboratories Inc.
Cochrane Technologies Inc.
Crystal Flash Energy
Energold Drilling Corp.
Esperanza Resources Corp.
Explorator Resources Inc.
Rush Sales Co.
Kimber Resources Inc.
Nelson Bros. Oilfield (1997) Services Ltd.
Gulf Copper and Manufacturing
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Exploration & Processing - Winter 2011