Strictly: Drilling

[Old Frank P]

Fourth major oilsands project planned for Alberta's north next year

http://www.canoe.ca/MoneyResources/oct18_oilsands-cp.html

FORT MCMURRAY (CP) -- Construction on a fourth major oilsands plant in northern Alberta could begin next fall if it passes regulatory approval.

TrueNorth Energy is anticipating Alberta Energy and Utilities Board approval by next summer and already has 250 engineers, planners and environmental scientists working on the project, which would be worth $2 billion.

"It feels more real every day," company chief executive David Park said. "We're spending a lot of money and dedicating a lot of resources to make it happen."

The company expects to spend $150 million by the time the regulatory body makes its decision.

Production at the Fort Hills Oil Sands Project would hit 95,000 barrels of bitumen per day in 2005 and would grow to 190,000 barrels in 2008.

Fort McMurray is about 360 kilometres north of Edmonton.

Charts:
Alberta Energy
http://finance.yahoo.com/q?s=AOG&d=c&k=c3&p=m20,m100&t=1y&l=on&z=l&q=c

Suncor
http://finance.yahoo.com/q?s=su&d=c&k=c3&p=m20,m100&t=1y&l=on&z=l&q=c

PETRO-CANADA
http://finance.yahoo.com/q?s=pcz&d=c&k=c3&p=m20,m100&t=1y&l=on&z=l&q=c

HUSKY ENERGY
http://finance.yahoo.com/q?s=HSE.TO&d=c&k=c3&p=m20,m100&t=1y&l=on&z=l&q=....

SHELL CANADA
http://finance.yahoo.com/q?s=shc.TO&d=c&k=c3&p=m20,m100&t=1y&l=on&z=l&q=....

IMPERIAL OIL
http://finance.yahoo.com/q?s=imo.TO&d=c&k=c3&p=m20,m100&t=1y&l=on&z=l&q=....