Oil sands: Deep Well buys more oil sands acreage
Deep Well adds in Peace River oil sands
Deep Well OIl & Gas has bought an undivided 100% working interest in 6 sections in the Peace River Oil Sands area about 14 miles west of their Sawn Lake properties.
Deep Well participated in a public offering on 2 April of Crown Petroleum and Natural Gas Rights held by the Alberta Department of Energy, in which the company successfully bid on 1 Petroleum and Natural Gas Rights parcel covering 3795 gross acres for a total of 6 sections in the Ochre area, the company said in a statement.
The Nevada company is based in Alberta Canada.
Deep Well and its subsidiaries Northern Alberta Oil and Deep Well Oil & Gas (Alberta), have a 100% working interest in 6 contiguous sections, an 80% working interest, in 51 contiguous sections of oil sands development leases, 40% working interest in an additional 12 sections of oil sands development leases and an 80% interest in 6.5 sections of oil sands permits in the Sawn Lake heavy oil area in North Central Alberta.
The permits and leases cover 47,759 acres.
Andora Energy (formerly Signet Energy) has earned a 40% interest in 12 sections