Business
Athabasca Oil Sands Corp. Announces Independent Reserves and Resources Report and Operations Update
Jun. 24, 2011 (Canada NewsWire Group) -- CALGARY, June 24, 2011 /CNW/ - Athabasca Oil Sands C...

About this update from Athabasca Oil Corporation
[{"type":"text","content":"\n\n\n Jun. 24, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, June 24, 2011 /CNW/ - Athabasca Oil Sands Corp. (TSX: ATH) is\n pleased to announce its reserves and contingent resources have\n increased, the tests at Dover West are progressing and the board of\n directors has approved an increase to the budget for, and an\n acceleration of the appraisal and development program in, the Alberta\n Deep Basin.\n\n\nBitumen Reserves and Contingent Resources Grow\n\n\nAthabasca drilled 89 delineation wells at Hangingstone, Dover West,\n Birch and Grosmont during the 2010-2011 winter programs and increased\n its net resource volumes by approximately 10% to 9.672 billion barrels\n of contingent resource (best estimate) and 289 million barrels of\n probable reserves compared to the independent estimates at December 31,\n 2010.  The third-party independent evaluation reports were prepared by\n GLJ Petroleum Consultants Ltd. (GLJ) and DeGolyer and MacNaughton\n Canada Limited (D&M) with effective dates of April 30, 2011.\n\n\nSveinung Svarte, president and CEO, says the increase in Athabasca's\n resources is a reflection of both the successful drilling program and\n the quality of its vast land base.  "I am very pleased to see that we\n continue to add significant resources through organic growth. This\n demonstrates the technical excellence and capability of the\n organization as we move into the development stage of certain\n projects."\n\n\nBased on the ind...