Xtra Energy Corp. (Xtra Energy or the Company) is a Calgary, Alberta based public energy company actively engaged in the exploration, development and production of unconventional oil shale resources and conventional crude oil and natural gas reserves in North America. Xtra Energy Corp. common shares are listed on the OTCBB Pinksheets under the symbol XTPT.
Rising oil prices, declining conventional oil production and the growing dependency on foreign oil supplies have mandated the need to develop the large unconventional energy resources including oil sands, shale gas and oil shale found in North America. Oil shale is one of the most abundant and accessible energy resources in North America. The US Geological Survey estimates that there are 2.5 to 3 trillion barrels of proven resources of oil shale throughout the world equivalent to two times the total world conventional oil reserves and oil shale will become an important and strategic component in the future energy supply mix and self sufficiency for North America. Xtra Energy's vision is to be an industry leader in oil shale production and is well positioned to become amongst the first oil shale producers in North America.
Xtra Energy has a right to acquire a 55% working interest encompassing 86,533 contiguous acres of oil shale permits in the Pasquia Hills oil shale region in east-central Saskatchewan, Canada with previously publicly reported estimates of contingent and/or prospective oil shale resources of over 2 Billion Barrels of recoverable oil, allowing Xtra Energy and its shareholders the opportunity for the potential development and commercialization of a world class oil shale resource on the Company's lands.
Xtra's main objective for its oil shale program for the remainder of the 2102 will be to engage in an aggressive exploration and development drilling program, to further delineate and define the oil shale deposit in order to identify an optimum initial oil shale mine site for the establishment of a pilot processing and Shale-to-Liquids production plant targeted to be completed and oil shale processing to begin in 2015.
OUTSTANDING SHARES AS OF JUNE 30, 2012 .......... 201,351,500
FLOAT SHARES AS OF JUNE 30, 2012..............................NOT AVAILABLE