Corporate Summary
North Peace has an early stage in-situ oil sands play in northern Alberta with an estimated 2.1 billion barrels of Discovered Bitumen Initially-In-Place. The Company has a 100% working interest in 86,400 acres of Crown oil sands leases in the Peace River area. The lands have the benefit of over 300 legacy logs and are surrounded by accessible oil and gas production infrastructure. The target Bluesky zone is a regional sand, deposited in a near shore marine environment at approximately 400 metres in depth. The initial focus area has approximately 22 sections with 10 to 16 metres of oil bearing thickness, technically sufficient to advance a 10,000 bbl/d commercial project with ultimate potential of 30,000 bbl/d. North Peace is currently advancing the development of its resource using a robust and proven in-situ thermal recovery process, Cyclic Steam Stimulation ("CSS"). The Company is currently operating a two well CSS pilot on its lands. Click here for further CSS pilot project details.
North Peace began trading on the TSX Venture Exchange in February 2007 under the symbol "NPE"