E-T Energy, Total E&P Canada sign tar sands testing agreement

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E-T Energy, Total E&P Canada sign tar sands testing agreement

Tuesday, April 12, 2011 at 11:09AM

Diagram showing E-T Energy's electro-thermal process for extracting bitumen from tar sands.

E-T Energy Ltd. and Total E&P Canada Ltd. have entered into an agreement for Total to participate in E-T Energy's next two stages of field testing its electro-thermal technology for producing heavy oil and bitumen from oil sands. E-T Energy is preparing for its proposed 10,000 bbl/d Phase 1 commercial development at Poplar Creek.

Total will provide financial and technical support over the next two steps of testing. In consideration for Total's participation, the Agreement provides options for future cooperation in the development of the technology including a global licence of the technology for Total as well as a limited working interest in E-T Energy's first commercial development at its Poplar Creek asset. E-T Energy expects to start production from the current Steps 1 and 2 test patterns before the end of April 2011. Once this milestone is achieved, Step 3 drilling and connecting will commence shortly thereafter.

Dr. Bruce C.W. McGee, Chief Executive Officer of E-T Energy, said: "We are thrilled to have Total participate with us in our project. The depth of Total's technical capability and expertise in project development, together with our technology and pilot test experience over the past four years, will accelerate the application of ET-DSP™ in Alberta and globally."

"Working with E-T Energy is an excellent opportunity for Total to help advance innovative extraction methods that continue to build on the development of environmentally sound practices in Canada's oil sands," said Jean-Michel Gires, President and CEO of Total E&P Canada. "We are looking forward to seeing where this new technology can go and how it can be used on a commercial scale."

E-T Energy has also signed an agreement with Alberta's Climate Change and Emissions Management (CCEMC) Corporation whereby CCEMC will provide up to $6.86 million in co-funding for Step 3 and Step 4 field testing of the ET-DSP™ technology.

* SPECIAL OIL & GAS |

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