Petrobank sells Alberta oil sands lease for $226 million

摘要

Vancouver-Canadian oil sands startup Petro- bank Energy and Resources has sold one of its leases amid a slowdown at operations testing its proprietary technology to develop heavy oil and bitumen deposits. The Calgary-based company said January 31 it sold the May River lease in northeastern Alberta to privately owned Grizzly Oil Sands for C$225 million ($225.7 million), after filing a regulatory application in 2008 for an initial phase of 10,000-15,000 b/d, targeting an eventual 100,000 b/d.