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Lightstream Resources Ltd. Message Board

  • luana2045 luana2045 Sep 29, 2011 1:44 PM Flag

    Petrobank suspends operations at Conklin facility

    http://www.reuters.com/article/2011/09/29/petrobank-idUSL3E7KT2II20110929?feedType=RSS&feedName=rbssEnergyNews&rpc=43

    (Reuters) - Petrobank Energy and Resources Ltd said it will suspend operations at the Conklin facility in Alberta until it finalizes plans to either integrate it into its larger May River operations or abandon it.

    The Calgary-based oil and natural gas explorer said the energy regulatory hearing of its application for Phase 1 of the May River project in Alberta is scheduled for March 6, 2012.

    It has suspended air injection at the Conklin demonstration project after completing wet combustion test at the site, the company said in a statement.

    Petrobank, which has a 59 percent stake in PetroBakken Energy , said suspension of its Conklin operations will not impact its May River development plans.

    In June, the company said proved and probable reserves at May River were at 90.6 million barrels.

    Petrobank shares closed at C$8.25 on Wednesday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Don Sebastian)

 
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