zareba plc

This is part of an interview with the head of Deer Creek, Glen Schmitt, CEO and president, about oil sands development and zba. Deer Creek is now owned by Total, one of the worlds biggest oil giants, but they are using Quadrise's technology and expertise. ;




Deer Creek has a partnership with a technical company called Quadrise Canada Fuel Systems Inc. and a number of other oil sands producers, and is currently field testing burning heavy oil-based fuels. The objective of this testing is to confirm the cost of environmental mitigation. The objective would be to burn our own bitumen to supply energy for the generation of steam and to ensure that we have the appropriate environmental mitigation so that we can displace natural gas, which represents sixty to seventy percent of the operating cost for SAGD projects.

Deer Creek has the opportunity to expose its investors and shareholders to a project that has more than two billion barrels recoverable and more than 200 thousand barrels a day of development potential.”


CEOCFO: Why should potential investors be interested and what should they know that perhaps they do not realize when they first look at the company?

Mr. Schmidt: “Deer Creek is a small company in a large project game. The interest to potential investors is in asking and answering a series of questions. First is the perception of the investor regarding energy pricing. If the perception is that oil prices are expected to remain above $30 WTI, then the oil sands sector is one that will be of interest because of the characteristics of oil sands as a large long-life resource. Deer Creek is one of only a handful of emerging oil sands producers. I believe there are only seven pure play public oil sands companies; of those, only two are at a stage that offers an early opportunity to grow with the company with a huge upside. What that means is that if you were going to look at Deer Creek’s project today, apply current technology, current average capital, and current average operating cost; the project of Deer Creek has a net present worth of between $3, $6 or $9 billion at $30, $40 or $50.00 WTI real oil prices, respectively. That is a significant opportunity. Our current market capitalization is about $650 million, reflecting to the investors the opportunity for Deer Creek.”