BANKABLE FEASIBILITY STUDY UPDATE PUBLISHED - MARCH 2010
05 July 2010
Leading consulting engineer Hatch has published a two-volume update to the Bankable Feasibility Study (BFS) completed in July 2009. The addendum report includes:
- A comprehensive report by ATP license owner UMATAC covering all four pilot plant test runs conducted between December 2008 and July 2009 at its test plant in Calgary. This includes a full analysis of liquids, oil, gases and waste products generated during the manufacturing process.
- Formal oil shale reserves statement by mining specialists Marston that meets the Canadian stock market requirements (NI 43-101). The initial project has also been independently assessed at an encouraging 2C rating for reserves totalling 159 million barrels under Canada's Standards of Disclosure for Oil and Gas Activities.
- Revised project economics reflecting the results of oil upgrading work, which showed that it is both technically and commercially viable to manufacture high grade synthetic crude oil (SCO) or, a range of finished products such as kerosene, diesel and gasoline that can generate an additional 20% in revenues.