Micron Enviro Systems, Inc. has been notified by the operator that the seismic operations are now complete and the data is being assessed. The seismic data, combined with the core sample, will be interpreted with the evaluation on this first test hole finished shortly.
The operator stated, "My prognosis is that with the calibrated seismic (to the well), the hole imaging tool (FMI) and the core, we will pinpoint a thick oil sands pod for SAGD production." This prospect lies directly between Petrobank and North American Oil Sands and viewing the initial data would appear that the formation and thickness on our property is consistent with these companies.
Petrobank has stated a potential resource of 1.6 billion barrel and North American Oil Sands with a stated 4.09 billion potential barrels in ground. A recent third party independent report stated that there is potentially $3.7 billion (gross) worth of oil reserves on the total acreage that which Micron has an interest.
Bernard McDougall, President of the company stated, "We are getting very close to receiving the additional evaluation on our first Alberta Oil Sands Prospect. Micron is focused on growing the company through the development and acquisition of quality prospects in the Alberta Oil Sands. We have seen the major impact that Oil Sands assets can bring to other OTC companies such as Canwest Petroleum (now bqi on Amex) which went from under $0.10 to a high $8.90 due primarily to their Oil Sands assets.
Micron has displayed the commitment for growth in the past two weeks, by completing important work on the Leismer Prospect and adding a significant 50% interest in six new contiguous Athabasca Oil Sands sections. We are also quite confident that additional new Alberta Oil Sands leases will be added by the company in the near future. When you consider these exiting events occurring right now for Micron, clearly management feels the company is poised for an explosive period of growth. Micron is currently one of, if not the smallest market capitalized companies in the world-class Alberta Oil Sands, which gives Micron tremendous leverage to the one of the largest know resource deposits on earth."
Recently Micron acquired an impressive 50% interest in six new contiguous Athabasca Oil Sands sections in Alberta, Canada. These new sections are comprised of approximately 3,800 acres in prime Athabasca Oil Sands Area which is the largest oil sands development region on earth. This new lease is directly beside Paramount Energy Ope and is situated directly above the massive Oil Sands package that the Royal Dutch Shell paid approximately $450,000,000 to acquire.
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