Re: Pics of Algar on Connacher web site..status idea's
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Welcome to the Connacher Oil and Gas Hub on AGORACOM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Message: Re: Pics of Algar on Connacher web site..status idea's
- Algar replicates Pod One in design; scope will allow future facility expansion – already financed
- Identified and confirmed reserves by drilling of core holes and 3D seismic analysis performed over the past two years
- Anticipated cost $345 million (excluding $30 million of contingency and excluding capitalized items)
- Approximately $120 million committed to the end of October, 2008
- In process of building a 5 km road from Highway 63 to the Algar plant site
- Once road construction and site preparation are complete, anticipate:
- 300 days to build plant and drill SAGD wells
- 30 days to commission plant
- 90 days initial steam injection
- First production in 2010 with ramp-up to 10,000 bbl/d by end of 2010
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