Apex Resources Inc (SLMLF)

[fishin100]

Okay, I'm convinced, Shell is out.

I thought it was fishy that Shell announced on July 15, 2011 that they were getting out of the Mackenzie Valley Pipeline project when they were still promoting there Arctic off shore drilling program just one week earlier.


Shell describes its oil spill response arrangements for the Arctic OCS
Week of July 17, 2011
Shell has assembled an oil spill response fleet for on-site support of its planned Arctic offshore drilling operations. In the open water season of 2012 the company plans to drill in the Chukchi Sea using the drillship Noble Discoverer and in the Beaufort Sea using the floating drilling platform the Kulluk.
http://www.petroleumnews.com/pntruncate/637554495.shtml

I thought maybe, just maybe, Shell was just turning up the heat, trying to kick start this project.
Then I came across this today, looks like Shell kept it quiet during the preparation stage, looks to me like they are out.

Let's hope something good comes out of the whole mess, and the Mackenzie Pipeline gets the support it needs..
I still believe it will get built … am hoping for confirmation this year.


SHELL CANADA ENERGY
2011 MACKENZIE DELTA ASSET DIVESTITURE
PROPOSALS DUE: AUGUST 31, 2011
Jun-11

OVERVIEW
Shell Canada Energy (Shell) plans to divest its assets in the Mackenzie Delta region of the Northwest Territories, Canada, consisting primarily of 100% working interest in the Niglintgak Significant Discovery License (SDL), high working interests in seven other SDLs in the region, and Shell’s participation interests in the Mackenzie Gas Project. Niglintgak contains an estimated 840 billion cubic feet of recoverable sweet gas. Other oil and gas accumulations have been discovered in the deeper Niglintgak sands and across the other SDLs. The asset package also includes a license to Shell’s 2D and 3D seismic in the region.
Shell believes the Mackenzie Delta is an exciting, basin-opening opportunity that provides a gateway to the Beaufort Sea, and is important for economic development in the Canadian Arctic. However, as part of its regular global portfolio review, Shell has decided to focus its resources on other options.
A significant amount of information about the Niglintgak SDL and the Mackenzie Gas Project is already available in the public domain through Development Plan Applications filed by Shell and the other proponents of the Mackenzie Gas Project with the National Energy Board of Canada. See links:
http://www.mackenziegasproject.com/
and
http://www.neb-one.gc.ca/clf-nsi/rthnb/pplctnsbfrthnb/mcknzgsprjct/rfd/rfd-eng.html

Link:
http://beta.images.theglobeandmail.com/archive/01298/Read_Shell_s_Macke_1298464a.pdf


Access to Confidential Data
Shells on-line Virtual Data Room

Upon executing and delivering two signed Confidentiality Agreements (“CA”) in the manner and
form included in this document, Interested Parties will be granted access to confidential
information contained in the on-line Virtual Data Room (“VDR”), physical Data Rooms located
on-site at TD Energy Advisors offices and have access to technical and management
presentations which will be coordinated by TD Energy Advisors.
Subsequent to the receipt of the executed CAs, TD Energy Advisors will require a primary
contact for data access purposes. Please complete the form found on page 12 of this document
and submit it along with the CA. Gaining access to the on-line VDR requires a list of names,
email addresses and phone numbers. To facilitate this, a list can be emailed to
[e-mail]. Physical Data Room bookings and scheduling of technical
and management and presentations should also be made by contacting TD Energy Advisors.
The Confidentiality Agreement should be completed in full.

Link:
http://www.tdsecurities.com/tds/resource/Shell_CA.pdf