Alberta's Carbonate Triangle is the second largest unconventional deposit of crude in the world.
The total estimated crude contained (in-place) in the Carbonate Triangle is 447 billion barrels, of which potentially 89 billion barrels may be recoverable (based on an estimated 20% recovery). The triangle covers approximately 54,000 square miles, which is almost the size of Florida.
The host-material is predominantly dolomite, and the average depth is 500 meters or less. Although various production techniques are being tested, thermal in-situ (such as CSS) treatment is necessary due to the relatively high viscosity, as with oil sands.
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This information may contain forward-looking statements about our exploration, production, and other operating and financial plans. These statements are not guarantees of future performance, involve certain risks, uncertainties, and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Among the factors that could cause actual outcomes and results to differ materially are changes in petroleum prices; changes in refining and marketing margins; potential failure to achieve, and potential delays in achieving, expected reserve or production levels from existing and future oil and gas development projects due to operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas; unsuccessful exploratory drilling activities; unexpected delays or difficulties in constructing company facilities; general domestic and international economic and political conditions; the ability to meet government regulations; potential disruption or interruption of the Company's facilities due to accidents or political events and other matters detailed in our publicly available filings with the Securities and Exchange Commission. Cautionary Note: As an oil and gas company, in our filings with the SEC we only disclose proved reserves that have been demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. However, in the information presented here, we may use certain terms such as "probable reserves", "potential net recoverable reserves", "barrels of oil", "in-place", "resource", and "recoverable reserves" that we do not include in our filings with the SEC.