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The company conducted seismic surveys on the Alberta lands and, starting in January 2008, Oilsands Quest drilled its first exploratory wells on the Alberta side of its contiguous lands. In May 2008, two new areas of interest were identified: Raven Ridge and Wallace Creek.
In early 2009, the Company had drilled 23 exploration wells at Raven Ridge Discovery and, on October 14, 2009, independent resource estimates were released for the Raven Ridge properties, based on the drilling completed in late 2008 and early 2009.
The Raven Ridge drilling program has demonstrated the continuity of bitumen characteristics extending from Axe Lake, Saskatchewan, into Alberta.
During the winters of 2010 and 2011, Oilsands Quest drilled 14 core holes at Wallace Creek. Of the 14 core holes drilled, seven encountered significant bitumen intercepts with two holes encountering over 20 meters of oil sands. The initial drilling results at Wallace Creek indicate that there are areas with preservation of McMurray mud stones directly on top of the oil sands zone, similar to neighbouring properties to the west, and areas where the glacial till lies directly on top of the oil sands zone, similar to that at Axe Lake.
The drilling focused on the western side of the Wallace Creek permits, which is adjacent to Cenovus' Telephone Lake and Grizzly Oil Sands' Firebag project areas.
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