ALBERTA – Calgary’s SYNENCO ENERGY, managing partner of the Northern Lights oil sands project, has updated the discovered resource estimate for the leases. The best estimate is 1.657 billion bbl of bitumen in place (NI 51-101-compliant). This is down slightly from the 2006 estimate of 1.674 billion bbl.
The Northern Lights project will call Fort MacKay home. With that in mind, the partnership is building its extraction pilot plant in that town and has become a partner in the construction of the Fort MacKay-Firebag Aerodrome, a private undertaking. It is expected to be a fly-in/out operation.
Synenco (www.Synenco.com) holds a 60% share of the Northern Lights project. Its partner is SINOCANADA PETROLEUM, a subsidiary of China’s Sinopec International Petroleum.