CanWest Petroleum Corporation: Pasquia Hills Project.CALGARY, Alberta -- CanWest Petroleum Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CWPC CWPC Contingency Wartime Planning Course CWPC Certified Wellness Program Coordinator ) and NOVA Chemicals Corporation have agreed to jointly study the feasibility of the Pasquia Hills Oil Shale Project as a potential source of petrochemical feedstocks. NOVA Chemicals will retain the right to purchase all future feedstock production from the Project on a preferred basis, leaving CanWest Petroleum Corporation the owner of the proposed mine site and primary processing plant. The Pasquia Hills Oil Shale Project is located in central Saskatchewan, Canada and covers approximately 850,000 acres, including a mine site of 50,000 acres with a drill indicated resource, on a fully risked basis, of 2.4 billion barrels shale oil grading 7.8% kerogen kerogen or kerogen shales or kerogenites Complex mixture of compounds with large molecules containing mainly hydrogen and carbon but also oxygen, nitrogen, and sulfur. Kerogen is a precursor of petroleum and the organic component of oil shales. by weight containing 59% aromatics. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. Cusip# 138748 10 8 |
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