Alberta Oilsands Inc. said it continued to make strides in 2008 towards submitting an application in 2009 for its first oilsands pilot project. The company, which has conventional production, recently released its year-end results (see tables). The company intends to delineate enough bitumen reserves to support a potential 10,000-bbl-a-day project within five years. Although Alberta Oilsands said it "remains firmly focused on extracting bitumen from the province's rich oilsands deposits," the company took advantage of the overall market downturn in early 2009 to add conventional assets.
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