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Sunridge Energy Corp. (SRG:CA)
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Web site:
http://www.sunridge-energy.com/
Sunridge Energy Corp (SRG:TSX-V) is an emerging junior oil and gas exploration group based in Vancouver, BC.
On August 29th, 2011 SRG announced an exclusive agreement with Current Environmental Solution (CES) to recovery heavy oil within the Alberta oil sands district. It's an unprecedented opportunity to extract oil from the second largest petroleum reserves in the world focusing on previously unrecoverable depths between 75 to 175 metres where it's too deep for mining and too shallow for steam-injection.
SRG is currently a revenue producing company with cashflow from its Qualifying Transaction (QT) project at Thorsby. Please refer to our corporate presentation below for additional details.
Corporate Presentation - August 2011 (Six Phase Oil Heating)
SRG is constantly seeking high potential projects in the oil and gas space. To submit your project or contact us for any business inquiries please use info @ sunridge-energy.com
Projects
Six Phase Oil Heating
The technology, called Six-Phase Oil Heating, has been used extensively by the company that owns the worldwide license to use the patented technology, Current Environmental Solutions (CES), to remediate soils and groundwater in situ contaminated with volatile and semi-volatile organic compounds.
The technology consists of drilling a series of holes in a circle, inserting a proprietary composite electrode into each hole, and utilizing six-phase power, heating the ground to 100 degrees centigrade to vaporize, or in the case of bitumen, liquefy bitumen solids trapped in oil sands to permit the flow of the now light oil to a collection head at the base of a pump.
Sunridge has acquired a 5 year exclusive license to use CES's proprietary technology to extract oil from depths that were previously uneconomical - too deep for mining too shallow for steam injections.
CES's technology is best suited for the shallow-depth zones from 75 metres to 175 metres, which capitalizes on a major untapped reserve in the oil sands. On a section of land (640 acres), there are potentially over 100 million barrels of oil in place at this depth. There are hundreds of sections of land in Alberta that contains oil sands that are too deep for surface mining and are potential candidates for this technology. The company is planning to commence two pilot projects this fall.
North Central Oil Project
The Property consists of two 640 acre crown leases, of which the Company holds a 100% working interest, and five freehold leases totaling 160 acres, of which the Company’s working interest is 100%, subject to a 16% freehold royalty. The Property is in close proximity to good pipeline and processing infrastructure with good paved and high grade gravel road access allowing for further drilling developments on adjacent lands. Based on the results of the fall exploration program and the areal extent of the reservoir, the Company will proceed with up to a maximum of 8 additional short radius horizontal wells to the target formation in the Upper Mannville sandstone. Total drilling distance per well is anticipated to be 1,600 metres (measured depth). Three original vertical well signatures from past drilling efforts by other companies (decades ago) indicate a 3 to 4 mile long trend for this prospective bypassed reservoir. The well drilled on Sunridge’s initial 800 acres recovered free oil from the target formation 9 years ago but was not developed by the original operator because their focus was on a deeper horizon. Laboratory oil analysis from this well indicates a gravity of 18.3 degrees API and displays a favorable viscosity profile for cold-flow production. The horizontal application is intended to recover the maximum amount of oil at a higher daily rate than a vertical wellbore.
Lavoy Oil/Gas Project
Sunridge currently has cash flow and profit from production at Lavoy project.
Currently there is a NI 51-101 compliant reserve estimate of 1.725 MMscf (Proven + Probable) resource estimate on the project.
SRG:CA
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