Synenco Energy to Present at 2007 CAPP Oil and Gas Investment Symposium
Synenco Energy Inc. (TSX: SYN – News) today advised that Todd Newton, President and Chief Operating Officer, will speak at the 2007 CAPP Oil and Gas Investment Symposium. Mr. Newton will speak on Tuesday, June 19, 2007 at 4:15 p.m. and Wednesday, June 20, 2007 at 3:50 p.m. (Mountain Time) at the Hyatt Regency Hotel in Calgary. The presentation will also be available on www.synenco.com.
About Synenco Energy and Northern Lights
Synenco Energy is a Calgary-based oil sands company which, with a 60-percent interest, is the managing partner of the Northern Lights Partnership and operator of the Northern Lights oil sands project. Synenco Energy also holds a 100-percent interest in the McClelland oil sands lease adjacent to Northern Lights project lands.
The Northern Lights project consists of an oil sands mining and bitumen extraction project to be established about 100 kilometres northeast of Fort McMurray, Alberta, and a heavy oil upgrader proposed for Sturgeon County near Edmonton. Separate regulatory applications for each segment of the project were filed with the Alberta Energy and Utilities Board and Alberta Environment during 2006. The independent best estimate of Northern Lights bitumen, based on all drilling up to and including the 2005/2006 program, is 1.67 billion barrels of Discovered Resources. In addition, Synenco, on behalf of the NLP, holds five coal lease applications covering 60,160 hectares in northeastern Alberta.
SinoCanada Petroleum Corporation, an indirect wholly-owned subsidiary of China-based Sinopec, owns the remaining 40 percent of the Northern Lights Partnership and project.
Cautionary statement about forward-looking statements
This media advisory contains “forward-looking statements” relating to Synenco Energy and NLP which are expressly qualified by this cautionary note. Estimates of NLP’s in-place bitumen “Discovered Resources” are made as of December 2006 and are forward-looking statements. (The term “Discovered Resources” is defined in the COGE Handbook and in CSA Staff Notice 51-321.) Further classification into contingent resources or reserves is not expected to be possible until a feasibility study has been completed. Resource estimates are inherently uncertain and are generally considered more uncertain than estimates of reserves. Future estimates of recoverable resources and actual recoverable resources will differ and may differ materially from the estimate of NLP’s in-place bitumen Discovered Resources. All other statements suggesting future plans and outcomes, including without limitation statements regarding possible transactions are forward-looking statements. Readers are strongly cautioned that forward-looking statements are inherently uncertain and based on a number of estimates and assumptions and subject to known and unknown risks and uncertainties. Undue reliance must not be placed on them. Actual results will differ and may differ materially. Refer also to the Risk Factors in Synenco’s Annual Information Form dated March 9, 2007. Forward-looking statements are made as at the date of this news release and are not guarantees of future performance. Synenco expressly disclaims any obligation to update publicly or revise any of the forward-looking statements except as required by law.
For further information
Media, Kelli Stevens, Public Affairs Coordinator, Synenco Energy Inc., Telephone (403) 451-5240, kelli.stevens@synenco.com
Investment Community, Idar Eikrem, Executive Vice-President and Chief Financial Officer, Synenco Energy Inc., Telephone: (403) 451-4612, idar.eikrem@synenco.com
Source: Synenco Energy Inc.
