Deep Well Oil and Gas (fka DWOG)

[wshaw14]

Intertesting read. It seems that whomever bought these leases, sees a future for far less exploitable resources that DWOG has

http://business.financialpost.com/2015/03/20/the-oil-industrys-struggle-to-tap-into-the-bitumen-carbonates/?__lsa=5d2b-964e
The rights sold in the March 11 auction allow an oil and gas producer to tap into a massive heavy oil formation called the bitumen carbonates, which sit beneath the oilsands, contain more oil than the oilsands but are also vastly more difficult to extract. In this case, the mineral rights sold sit right beneath Carmon Creek.


The area’s most expensive rights sold for $7,815 per hectare, a far cry from the $2,000 per hectare Mr. Newton said recent land sales in the area brought. Indeed, the total $21 million the sale took in was the highest in the oilsands region since 2011 and signals the growing interest in the bitumen carbonate formation despite the struggles of smaller companies working in the play.