Oil Executive Answers Questions In La Loche

Oil Executive Answers Questions In La Loche

Friday, June 16, 2006 at 13:29

 

 

The CEO for a fledgling oil company says he hopes exploration efforts can continue this summer in the La Loche area.

 

Chris Hopkins of Oilsands Quest attended an informational meeting in La Loche yesterday where he laid out the company’s plans for the region.

 

So far, Oilsands Quest has drilled 24 holes at a site north of the community, and it is already planning to drill 150 more.

 

Hopkins says bitumen results from the holes are positive, and his company has applied to the government to continue its search for oil this summer.

 

Meanwhile, Hopkins says many questions were asked at yesterday’s meeting about job opportunities and economic spinoffs for the area.

 

He says it’s too early right now to say whether a commercial recovery process will be economically viable.

 

Other questions fielded at the meeting included how the drilling would impact traditional trapping, hunting and fishing.

 

Hopkins says provisions are in place to deal with those concerns. Specifically, the company’s obligation to consult with groups that might be affected by the drilling work.

 

Oilsands Quest says it has a budget of $30 million set aside for its 2006-2007 winter drilling project.