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Oilsands Quest has extended its oil sands land holdings in Saskatchewan to the west with the purchase of strategically located exploration permits just across the border in Alberta.
The company has conducted seismic surveys on the Alberta lands and, starting in January 2008, Oilsands Quest drilled its first exploratory wells on the Alberta side of its contiguous lands. In May 2008, two new areas of interest were identified: Raven Ridge and Wallace Creek. In June 2008, the Raven Ridge Prospect was upgraded to the Raven Ridge Discovery.
In early 2009, the Company had drilled 23 exploration and delineation oil sands test wells at the Raven Ridge Discovery.
On October 14, 2009, independent resource estimates were released for the Raven Ridge properties, based on the drilling completed in late 2008 and early 2009.
The Raven Ridge drilling program has continued to demonstrate continuity of bitumen characteristics extending from Axe Lake, Saskatchewan, into Alberta.
Oilsands Quest has extended its oil sands land holdings in Saskatchewan to the west with the purchase of strategically located exploration permits just across the border in Alberta.
In March 2010, Oilsands Quest announced the results of a 9 well exploration drilling program in the southwest corner of the Wallace Creek lease that are adjacent to Cenovus' Borealis project area. Four of the wells drilled encountered significant qauntities of bitumen with two wells intercepting over 20 meters of oil sand in the McMurray formation.
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