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Paramount provides update on Cavalier Energy Inc.


Published Dec 18, 2012
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Paramount Resources Ltd.-2

Paramount Resources Ltd. report that its wholly-owned subsidiary Cavalier Energy Inc. (Cavalier) filed a regulatory application for the Hoole Grand Rapids Project (Hoole Project) with the Energy Resources Conservation Board and Alberta Environment and Sustainable Resource Development, in November 2012.

The Hoole Project comprises a 10,000 barrel per day in-situ SAGD oil sands development. Subject to receipt of regulatory approval, the current Hoole Project schedule anticipates first steam in 2015 and the first full year of production in 2016.

"The Hoole Project presents a great platform from which to grow Cavalier into a significant oil sands production company," stated William Roach, President and Chief Executive Officer of Cavalier.

Tags: Paramount Resources Ltd.



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