To 'mick' on 'SONS and DAUGHTERS of BBCMF THE RUSH TO INVEST in LAND and REAL ESTATE.' -
catching up to ya. RE:
well when we learn how to pick up a few acres for - a fiatz$buck - with black Gold Res. worth about 10s of million real Bucky -
Ex.... Oilsands Quest acquired five of the six blocks of oil sands exploration licences offered in the sale covering a total of 44,484 hectares (109,920 acres) for an aggregate cost of $2.25 million Cdn, plus annual rental of $1.75 per hectare.
The licences are for oil sands rights from the surface to the top of the Devonian geologic formation for a term of five years. The blocks of land are located in Townships 90 and 91, Ranges 21 to 26 West of the 3rd Meridian. All of the blocks are located south of the company's existing exploration permits in Saskatchewan; two are on the Alberta border.
Oil shale exploratory permit
Oilsands Quest acquired one of the two oil shale exploratory permits in the Pasquia Hills area offered in the sale, totalling 33,900.11 hectares (83,769 acres), for a total work commitment of $301,568 during the first two years of the permit. Thereafter, the minimum annual expenditure requirement is $2.00 per hectare for the remaining term of the permits plus an annual rental of $0.25 per hectare. Oilsands Quest's bid committed the highest amount of eligible expenditures on the permit lands during the first two years of the five-year permit. The permit is for oil shale rights from the surface to the top of the Precambrian geologic formation and is located in Townships 44 and 45, Ranges 1 to 3 West of the 2nd Meridian.
Total land position
As a result of the August 13 land sale, Oilsands Quest's land holdings in Saskatchewan and Alberta have increased substantially, as summarized below.
(x) The oil sands exploration permits and exploration licences in Saskatchewan and Alberta are contiguous.
About Oilsands Quest
With the largest contiguous oil sands holdings in Canada, Oilsands Quest Inc. is focused on aggressive exploration and the accelerated development of potential multiple world-scale discoveries. The company is conducting pre-commercialization studies for its first discovery, Axe Lake, leading the development of Saskatchewan's emerging oil sands industry.
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