CENTOR ENERGY INC: Pasquia Hills Oil Shale Project

CENTOR ENERGY INC: Pasquia Hills Oil Shale Project

Postby Oscar » Sun Feb 23, 2014 11:42 am

CENTOR ENERGY INC: Pasquia Hills Oil Shale Project

[ http://centorenergyinc.com/pasquia-hill ... project-2/ ]

We are developing a world scale oil shale resource with more than 1.1 billion barrels of recoverable oil.

In order to be commercially viable, under current technology, the oil shale deposit must be near surface, to allow for a strip mining operation. Generally, an overburden thickness of less than 75 metres would be considered feasible for strip mining, however, the closer to surface the better for economic viability.

The Company’s project is strategically located at or near the outcrop edge providing for the most advantageous strip mining opportunity on this deposit. Due to oil sands exploitation at Fort McMurray, the leading edge technology for this type of operation is currently available.

Extraction of the oil shale from the rock is accomplished through a retorting process called pyrolysis, which is the chemical decomposition of organic material by heating in the absence of oxygen or any other reagents. This process involves temperatures above 900˚F, which thermally breaks down the kerogen molecule into lower weight hydrocarbon molecules. Vaporized hydrocarbons are distilled into a hydrocarbon liquid and often the ash or by-product of the shale is utilized as a cement product.

There are numerous retorting technologies which are in use for oil shale processing around the world. This project will involve above ground retorting, where the oil shale is excavated (strip mined) and pretreated through a crusher for relatively uniform particle size. Usually shale would be crushed into either lump shale or particulate shale, which is used to feed different types of retort technologies.

Lump oil shale retorting requires less crushing but takes longer than particulate shale due to the low heat conductivity coefficient.

Lump shale retorting processes in use around the world include the Fushun Generator type used for more than seventy years in China, the Kiviter retort used in Estonia and the Brazilian Petrosix technology. These all involve vertical cylindrical retort vessels.

Particulate oil shale retorting processes include the Galoter process developed in Estonia and Russia and the Alberta Taciuk Process (ATP).

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OPERATIONS: Technology:

[ http://centorenergyinc.com/operations/business-areas/ ]

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OPERATIONS: Technical Reports:

[ http://centorenergyinc.com/operations/t ... l-reports/ ]


- Evaluation of Contingent Resources and Commerciality Factors, Pasquia Hills, Saskatchewan

[ http://centorenergyinc.com/wp-content/u ... SB-(CENTOR).pdf ]

(***NOTE: URL to this LINK seems unstable - ensure that all characters are included when searching for this report. Ed.****)

Prepared for CENTOR ENERY INC - December 1, 2013 (83 pages, Map on Pg. 30)

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Centor Enters Into a Purchase Agreement for Oil Shale Resources With Over 1.1 Billion Barrels of Recoverable Oil

[ http://centorenergyinc.com/centor-enter ... rable-oil/ ]

WINTERPARK, Fla., Dec. 18, 2013 (GLOBE NEWSWIRE) — Centor, Inc. (CNTO) is pleased to announce that it has completed a Sale and Purchase Agreement to acquire 55% working interest in an oil shale resource with over 1.1 Billion barrels of recoverable oil in the Pasquia Hill region of east central Saskatchewan, Canada. The oil shale leases cover qualified 21,658 acres. The property’s resources are estimated based upon analysis of previously completed geological surveys, core drilling programs and laboratory testing. A Contingent Resources Evaluation Report (the “Report”) was prepared on the leases, effective September 1, 2013 using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Handbook and in accordance with National Instrument 51-101 “Standards of Disclosure for Oil and Gas Activities”. The following estimates of gross contingent resources for the Pasquia Hills oil shale leases are outlined below:

Low Estimate: 1,098 billion barrels oil.
Best Estimate: 1,185 billion barrels oil.
High Estimate: 1,481 billion barrels oil.


Oil Shale is one of the last remaining significant untapped sources of oil. The US Geological Society estimates a total of 2.5 to 3 Trillion barrels of identified resources worldwide. With the trend of ever increasing crude oil prices over time, acquiring proven oil resources is considered an appreciating asset for the Company.

Mr. Sullivan stated; “This is an extraordinary acquisition of an established world-class resource with significant upside potential. This resource will underpin our strategy to develop a large-scale oil shale to liquids commercial operation. It provides a core hub to kick off our oil shale operations, broadening the Company’s revenue base with an entry into an expansive energy sector. We will be pursuing additional energy resources and look forward to updating shareholders on continued progress in the first quarter of 2014. As always our goal is to provide profitable growth and consistently expand shareholder value for the Company.”

James Michael Sullivan, President and CEO

For further Information and inquiries please call: 866-491-3128.

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OIL SHALE

[ http://centorenergyinc.com/operations/oil-shale/ ]

Our Oil Shale Leases

Centor Energy (the “Corporation”) owns a 55% interest in two leases (SHA0011 and SHA0013) which comprise 21,658 acres. The leases are granted for a term of 15 years commencing March 7, 2013. The leases are located in the Pasquia Hills area of northeast Saskatchewan east of Prince Albert near the Manitoba border in the western Canadian sedimentary basin.

NI 510-101 Resource Report

A Contingent Resources Evaluation Report (the “Report”) was prepared on the leases. The Report was prepared by Chapman Engineering effective September 1, 2013 using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Handbook (“COGE Handbook”) and in accordance with National Instrument 51-101 “Standards of Disclosure for Oil and Gas Activities” (“51-101″). The Report is based on data obtained from the drilling, logging, coring and laboratory analysis results from previously core hole drilling program, plus the results of thirteen Sun Oil (now “Suncor Energy”) core holes located within the mapped area, and information published by the government of the Province of Saskatchewan in order to determine the oil distillate resource volumes on the Corporation’s leased lands.

Based on all available data, Chapman Engineering has reported the following estimates of gross contingent resources for the Corporation’s Pasquia Hills oil shale Leases:

Low Estimate: 1,098 billion barrels of recoverable oil
Best Estimate: 1,185 billion barrels of recoverable oil
High Estimate: 1,481 billion barrels of recoverable oil


The geological mapping in the Report shows the oil shale deposit is present over the entire area of the Corporation’s oil shale leases, and has an average oil shale thickness of 22.96 meters (75 feet).

Contingent Resources are defined, under the COGE Handbook, as those quantities of petroleum estimated, at a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, regulatory matters and lack of markets.

Our Oil Shale Advantage

The Corporation’s leases are located in an area with several favorable attributes including:

Low overburden providing excellent strip mining ratio of 1:1
Well-developed existing infrastructure:
Rail, roads, water, power
Low population density
No aboriginal land issues
Low operating costs of $30 – $35 per barrel
Minimal regulatory hurdles for commercial development
Minimal water usage, no tailings ponds
Saskatchewan has a stable fiscal and regulatory regime, with no geopolitical risk

PDF: LINK 'broken'

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Centor Energy, Inc. Announces Appointment of C.W. Chapman to Advisory Board and Launch of New Corporate Website

[ http://centorenergyinc.com/centor-energ ... e-website/ ]

WINTERPARK, Fla., Jan. 3, 2014 — Centor, Inc. (OTCBB:CNTO) is pleased to announce the appointment of C.W. (Charlie) Chapman to the Company Advisory Board and the launch of a new corporate website: www.centorenergyinc.com.

Mr. Chapman is a professional engineer with over 40 years of broad experience, knowledge and relationship contacts in the petroleum and gas industries. Mr. Chapman has experience in almost every aspect of these industries including an expertise in reservoir engineering and production optimization. In 1985 he founded and is currently President of Petroleum Engineering, LTD overseeing all aspects of the diversified professional services of the firm. Petroleum Engineering LTD, provides comprehensive petroleum engineering, geological, geophysical and management services to a multinational clientele. Mr. Chapman is a member of numerous professional organizations including but not limited to the Association of Professional Engineers, Geologist and Geophysicists of Alberta (APEGGA) and The Society of Petroleum Evaluation Engineers (SPEE).

Mr. Sullivan stated: “Mr. Chapman is an extraordinary addition to the Centor team. As an Advisory Board member the Company will benefit from Mr. Chapman’s expertise in optimizing operations as well as a wealth of industry knowledge and contacts to obtain resources, recruit professional services and target additional acquisitions.” Mr. Sullivan continued: “I also welcome you to visit our new corporate website where you will find additional information on the Company, our recent acquisition of shale oil resources and our going forward strategy. As always our goal is to keep our shareholders fully informed and provide profitable growth and consistently expand shareholder value for the Company.”

James Michael Sullivan, President and CEO

For further Information and inquiries please call: 866-491-3128.

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Centor Appoints James Michael Sullivan President and CEO

[ http://centorenergyinc.com/centor-appoi ... t-and-ceo/ ]

WINTERPARK, Fla., Dec. 13, 2013 (GLOBE NEWSWIRE) — Centor, Inc. (CNTO) is pleased to announce the appointment of James Michael Sullivan, BBA, CFA as President and Chief Executive Officer of Centor. Mr. Sullivan will also remain a director of the Company. Mr.Sullivans appointment follows the resignation of Mr.Bradley Wilson as President and Director of Centor.

Mr. Sullivan is the former founder and Managing Partner of Affluence Capital Corporation a Calgary based boutique investment advisory firm focused on energy, renewable and carbon finance. During his tenure at Affluence, Mr. Sullivan was responsible for corporate finance advisory work with a number of public and private energy companies where he acted in senior management capacity for related companies including Chief Executive Officer, Chief Financial Officer and/or Chief Strategy Officer. (companies included Fortress Energy Ltd., Western Carbon Ltd., Peace River Oil Ltd., VenCan Oil SA, Midcoast Energy Inc., Hyperion Technologies, International Petroreal Inc., Solgate Inc., Brink Energy Limited, and Vault Power Corp.)

Prior to establishing Affluence Capital Corporation in 2001, Mr. Sullivan was a founder and Chief Financial Officer of a private midstream infrastructure company that was sold to AltaGas Services Ltd. Prior thereto, Mr. Sullivan was the Chief Financial Officer of the Morrison Facilities Income Trust, a TSX listed entity. The IPO was originated and structured by Mr. Sullivan as a $200 million take-out financing of oilfield infrastructure (midstream) investments owned by a syndicate of pension funds. Prior thereto, Mr. Sullivan was the manager for project finance at TransCanada PipeLines. During his tenure, was involved in over $3 billion of energy infrastructure project finance transactions both domestic and internationally, including a tenure with the World Bank to develop energy projects in East Africa.

Mr. Sullivan stated; “The energy sector is an always expanding industry with extraordinary opportunities. Centor has an extremely strong network and identified inventory of projects in the oil and gas sector that can be commercialized. I consider this a grass root opportunity in an explosive market sector with immense growth potential and am looking forward to being part of this management team and in developing these opportunities.”

James Michael Sullivan, President and CEO

For further Information and inquiries please call: 866-491-3128.

FORWARD LOOKING STATEMENTS

Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change, other than as required pursuant to applicable securities laws.
Oscar
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