Corporate Overview

Athabasca Oil Sands Corp. (AOSC) Overview

AOSC was incorporated in 2006 to acquire and develop high potential oilsands assets in the Athabasca region of northern Alberta.

Assets

  • Over 1.7 million acres (net working interest prior to effect of the PetroChina transaction) of oilsands leases close to other major unconventional oil projects and players.
  • Contingent resources are in the range of 4.6 billion barrels (low case) to 10.3 billion barrels (best case) to 17.8 billion barrels (high case) intended to be developed by in situ technology (principally SAGD) (prior to effect of the PetroChina transaction).
  • Ultimate gross production levels are potentially greater than 500,000 barrels per day with the majority of the clastic resource base located within the McMurray formation.
  • Large carbonate potential in the Grosmont, Nisku and Leduc formations within our leases.
  • AOSC Leduc is the northern extension of the famous Leduc reef trend discovered in Central Alberta in 1947. This reef trend has reached recoveries as high as 77% of OOIP (Original Oil In Place) and produced 2.8 billion barrels of light oil and 5 Bcf of gas.

Strategy and Goals

Lease Acquisition

  • To acquire prospective leases in the Athabasca region of substantial size to reach full economies of scale.
  • To become one of the largest unconventional oil leaseholders in the Athabasca region.
  • Acquisition phase now substantially complete.

Build a Strong Team

  • Executive, key management and high quality professional personnel have been recruited.
  • Experienced engineering and environmental consulting firms already contracted.

Prove the Resource Base

  • Aggressive drilling campaigns combined with third party wells provided a well density of more than 1 well per section in all main bitumen accumulations.
  • In excess of 1,000 delineation wells have been drilled on or within 1 mile of AOSC acreage.

Develop & Produce

  • Planning of two pilot production projects under way. (Dover application filed June 2nd, 2008, MacKay application filed October 14th, 2008).
  • Focus on manageable projects with individual phases in the range of 20,000 – 40,000 bbl/d.
  • Implement in situ technology advancements in a cost-effective manner.
  • The MacKay commercial application was filed December 10, 2009.