Xtra Energy Corp. (OTCPINK: XTPT) has successfully completed the drilling of its three core hole oil shale exploration and drilling program on its unconventional oil shale property located in Pasquia Hills, Saskatchewan.
According to the release, the three core holes were drilled across the Xtra Energy's oil shale permit targeting an identified "sweet spot" to examine, optimize information and further delineate the oil shale deposit and to determine the primary mine site for the establishment of a shale-to-liquids production plant facility. Detailed geological logging of the three cores holes were conducted and Xtra Energy has been informed by its onsite geologist that oil shale cores have been extracted and recovered from the White Speckled shale of the late Cretaceous period, the target reservoir from all three of the core holes as result of the oil shale core hole drilling program.
The collected oil shale core samples were shipped and have been received by Core Labs of Calgary where the cores will be cut horizontally and an initial inspection and analysis will be conducted.
The results of the core hole drilling, geological logging and the initial inspection and analysis, which will involve visually confirming the amount of meters of core recovered and making a preliminary analysis of hydrocarbon indicators, is expected to be completed in the next two weeks.
Xtra Energy's Pasquia Hills oil shale property consists of a total of 86,533 gross acres of oil shale exploration and development rights located in the Pasquia Hills region of northeastern Saskatchewan. Xtra Energy holds a 55% percent working interest in the oil shale permit SHP0008 through its recently purchased wholly owned Canadian subsidiary Oilshale International Corp.
Headquartered in Fort Lauderdale, Fla., Xtra Energy Corp. is an energy company focused on the acquisition and development of unconventional oil shale resources in North America.