Peter O'Leary P.Geol.

Athabasca Oil Announces 2025 Budget Focused on Cash Flow Per Share Growth and Directing 100% of Free Cash Flow to Shareholder Returns

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🚨 Efforts by indigenous groups in Canada to own a newly expanded oil pipeline offer a novel model for community engagement... 🛢️ The expansion of the Trans Mountain pipeline from the landlocked crude oil sands of Alberta to export terminals on the Pacific coast began pumping oil on May 1, 2024. This follows years of protests over its environmental impacts, permitting delays and a 2018 state bailout. 💸 Many indigenous groups in Canada, known as First Nations, protested against the project and went through long legal proceedings to have their voice heard. The project went ahead anyway with very little recognition. 🤝 This experience led indigenous groups to shift from opposition to forming a bid to own the Trans Mountain pipeline.... 🗣 “Our foundational values don't necessarily align [with fossil fuels],” says David Jimmie, the chief of Squiala First Nation and chair of the Western Indigenous Pipeline Group, an organisation formed to acquire a major stake in Trans Mountain. “But when we've exhausted every avenue through the court system and weren’t heard, the only opportunity to have that voice heard is in a position of ownership. If it’s going to happen anyway, what is the best way to be a part of it?” 🗣 When capital is available, direct engagement and the offer of equity stakes to indigenous groups is a way for blocked projects to move from the “mothball phase into execution phase”, says Fred Di Blasio, the CEO of Longhouse Capital Partners. This is in context of the odds being stacked against First Nations communities. “As a First Nation people, we don’t own the land that’s on the reserve. So getting a mortgage or getting a loan without having collateral has always been a barrier,” explains Tabatha Bull, the CEO of Canadian Council for Aboriginal Business. ❓ What are your thoughts on this evolving partnership model❓ Can economic development and environmental stewardship coexist in such contentious projects through offering equity stakes❓ Do the efforts of WIPG give hope for infrastructure and resource projects around the world to better consider the perspectives of local communities ❓ 👉 Full article: https://lnkd.in/edahMC45 #fdi #Canada #oilandgas #infrastructure #FirstNations #EconomicDevelopment #EnvironmentalStewardship #CanadianPolitics #Infrastructure Thanks to Siyuan Ren 🌎 and Mark F. Magnacca 🌍 for all their help in connecting me people for this article.

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No Water, but lots o’ tarsands — Reputational Risk in the Alberta Tarsands Tarsands Tarnation — Big Oil is now the Big Tobacco of the 21st Century⚠️⛔️⚠️ Alberta's energy minister defends the oil and gas industry's record - “No problems here”, Eh Pardners? CBC News - Christian Paas-Lang: The head of the United Nations says oil & gas advertising should be banned. Where does Canada stand? The head of the United Nations this week called for the end of fossil fuel advertising, an international twist on an existing domestic fight. Secretary-General Antonio Guterres said in a speech Wednesday in New York that some in the oil and gas industry have "shamelessly greenwashed" their activities. "Many governments restrict or prohibit advertising for products that harm human health, like tobacco. Some are now doing the same with fossil fuels," he said. That's the approach advocated by NDP MP Charlie Angus, who has put forward a private member's bill that would ban "misleading, deceptive" fossil fuel advertising. The bill would outlaw marketing that downplays climate-altering emissions and health hazards associated with the industry, or promotes fossil fuels in ways that are false, misleading or deceptive. Those found to have violated the proposed law could be subject to fines or imprisonment. The bill falls outside what's known as the order of precedence and is unlikely to come up for debate in the House of Commons. "We see the oil and gas sector in Canada is becoming increasingly provocative and defiant," Angus told CBC's The House. "They aren't doing their part. They have no intention of doing their part. And they know they're burning the planet — they've known all along." California, itself a major oil and gas producer, filed a lawsuit last year alleging that oil companies have deceived the public about the risks of fossil fuels and seeking a compensation fund to pay for future damage caused by climate-related disasters in the state. "So, a simple solution is what we did with big tobacco. Say, 'No, these are actually threats to human health, what you're promoting. You're not offering solutions. And so you have to come clean,'" Angus told host Catherine Cullen. Angus also dismissed claims that the law would result in jail time for offenders.

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M&A activity heating up in the uranium rich Athabasca Basin with Paladin takeover of Fission. With the largest land position in the Western Basin (3000 km2) and defined drill-ready targets, Stallion is poised for a high-grade discovery. TSX-V: $STUD $STUD.V | OTCQB: $STLNF #Uranium

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What a Sask Party win means for energy – seeking to hit 600,000 bpd, and eventually 1 million; nuclear power development, critical minerals #saskatchewan #oilandgas #criticalminerals #helium #lithium https://lnkd.in/gQem7jWf

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Thunderbird Resources (ASX:THB) is pleased to announce that Final Preparations are underway for Uranium Drilling - Entitlement offer closes 10 July. The company is in the final stages of preparation for its maiden drilling program at the highly prospective Hidden Bay Uranium Project in the Athabasca Basin, Canada, with six quotes received from prospective drilling contractors. 2,400m of diamond drilling planned, with drilling scheduled to commence mid-August. Entitlement Offer closes at 5pm WST on Wednesday 10 July 2024. Share price on Friday closed at 3.3c, a 10% premium to the Entitlement Offer price of 3c. Thunderbird Resources will be fully-funded for its upcoming exploration programs following the completion of its $4.1m capital raising and a recent $1.07m share sale. Read the Full Announcement Here: https://lnkd.in/ghAvvNk8 #ASXNews #ASXAnnouncement #mining #THB #ThunderbirdResources #Uranium #Drillprogram #AthabascaBasin #U3O8 #exploration

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Xcite Resources XRI.CN Inc. offers insights into the future prospects of the uranium market and highlights the potential for significant uranium discoveries at its Athabasca Basin projects, Canada. Xcite Resources Inc. secured six projects in the Athabasca Basin, Canada, in December 2023: the Lorado, Gulch, Black Bay and Smitty Projects in the Beaverlodge District. The district historically produced over 70 million pounds of uranium from 1950 to 1982, which included production of Xcite’s projects. The historical production targeted shallow-depth low-hanging fruit mineralisation. With today’s basin geological understanding, the larger deposits were discovered at much lower horizons (circa 350 to 90m vertical versus the 10-70m vertical of historical production). This leaves an untouched exploration potential for uranium discoveries while Xcite is embarking on launching its first campaign this summer. Jean-Francois Meilleur CEO - Xcite Resources XRI.CN https://lnkd.in/dkaq-GH5 #canada #criticalrawmaterials #mining #uranium #nuclear

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This story is brutal and just another example of questionable ethics in the Alberta oil patch. Here's the playbook used in this case. 1. company sells its unproductive wells to junior company for $1 to avoid hundreds of millions in cleanup liabilities. (A practice the Alberta Energy Regulator has been allowing for years.) 2. Junior company goes bankrupt and sticks the OWA and Canadian taxpayer with the cleanup cost. (Nothing new here.) 3. This is where it gets interesting. The original owner of the now orphaned wells is sued to pay the cleanup costs that they unethically tried to avoid. 4. Company being sued creates a new company and transfers its assets to the new company, leaving the original company worth only $30 million. 5. Original company settles out of court for $30 million, the claimant probably wouldn't be able to get more than that because all the companies assets were transferred to a new company. The OWA is stuck with the remaining liability of around $150 million. 6. With the potentially costly court case out of the way the sued company merges with the company it created to hide its assets and life goes on, business as usual. Yay! Corporate scoundrels are victorious and their responsibility to clean up the wells that generated big profits for decades has been skillfully eliminated. All it took was money, lawyers and a big steaming pile of questionable ethics. Anyone else outraged by this? Anyone actually believe our current oil-captured government will really try to stop this practice? #owa #orphan #well #association #abandoned #environmental #cleanup #liability #unethical

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Equinox Resources Limited (ASX:EQN) has reported outstanding results from its maiden exploration program at the Alturas Antimony Project in British Columbia, Canada. Rock chip assays have returned grades of up to 69.98% Sb, showcasing some of the highest naturally occurring stibnite concentrations worldwide. Key Highlights: ✅ Exceptional rock chip assays include 69.98% Sb, 67.96% Sb, and 49.98% Sb. ✅ Expansion of the project area by 3.3 km² targeting key mineralised shear zones. ✅ Market outlook strengthened by recent antimony price surge to US$36,000 per metric ton, driven by China's export controls. Managing Director Zac Komur remarked, "These results confirm the immense potential of the Alturas Project. We’re excited to explore beyond the known mineralisation, especially as antimony prices reach record levels amid supply constraints." This strategic move positions Equinox to take advantage of a tightening market for this critical mineral, essential for defence, renewable energy, and battery applications. Robert Martin | Agha Shahzad Pervez | Harry Spindler #CriticalMinerals #Antimony #MiningExploration #EquinoxResources #AlturasProject

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Expression of Interest – Critical Metals Uranium and Copper (Part Five) This part is about the need for advanced copper exploration to meet the huge demand for copper in a growing electrical economy. Deposits of copper and associated zinc, lead and precious metals have been mined for ninety years in Saskatchewan, Canada but they have played out and the only base metal concentrator/ smelter on the border with Manitoba at Flin Flon has closed. Deposits were located by surface prospecting, and traditional geophysical and drilling methods. The concentrator and smelter by Hudbay Minerals Inc at Flin Flon could be restarted if copper and other base meal concentrate becomes available. Sumitomo of Japan is financing Hudbay exploration to provide feed for its concentrator. Other exploration projects are active in the area. As the remaining Canadian copper smelter/ refinery is in far-distant Quebec, copper concentrate from Saskatchewan could be shipped to world markets from ports on the Pacific Coast or the Port of Churchill (currently being upgraded for such business). Four years ago, Petro-Find employed hyperspectral surveys using helium and hydrogen over known mines/deposits to ascertain if such technology would be useful to locate deposits of uranium. This was so successful, Petro-Find soon utilized this technology on a commercial basis. The ability to find other minerals such as base metals with associated precious metals, and Rees dramatically expanded the use of this satellite technology. Hyperspectral surveys conducted on a 450km by 250 km area in Saskatchewan have discovered numerous large anomalies of base metals, almost all found under deep sediments and glacial till. This early finding of deposits can accelerate successful exploration for copper by follow-up geophysics and diamond drilling. Other technologies, such as pXRT, XRD and UV, can be utilized early on to ground- truth these anomalies before expensive geophysics and drilling are applied. Exploration for copper is being highly promoted by Federal and Provincial governments through tax rebates and other incentives. Paul Lafleur, President, can be reached by email at [email protected] .

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Nuclear Risk & Alberta - 1 ‘small’ leak will adversely impact you for 100,000 years, or more⚠️⛔️ ☢️ ⛑️⚠️ Don’t Trust the Alberta Tarsands Tarnation with Nuclear Power — Alberta can’t manage abandoned & orphaned selenium laced coal mines, tarsands tailings ponds and abandoned oil & gas wells; plus Alberta’s always picking a mean-spirited fight with Canadian federal regulators who are responsible for this technology. Lethbridge News Now - Alberta & Saskatchewan agree to develop nuclear power. Nuclear power generation could become a possibility in two western Canadian provinces. The Governments of Alberta & Saskatchewan. Alberta & Saskatchewan agree to develop nuclear power — May 2, 2024: Nuclear power generation could become a possibility in 2 western Canadian provinces. The Governments of Alberta and Saskatchewan have signed a Memorandum of Understanding (MOU) to advance its development. Alberta’s Minister of Affordability and Utilities Nathan Neudorf says this work will go a long way in supporting both provinces’ need for affordable and sustainable electricity grids by 2050. “Alberta is proud to partner with Saskatchewan on further exploring how we can ensure our power grids are affordable, reliable, and sustainable,” says Neudorf. “Our provinces are leading the world in responsible energy development, and we look forward to learning from Saskatchewan’s experience with nuclear generation.” The MOU will support collaboration and information sharing on key areas such as nuclear supply chains and workforce development, the security of fuel supplies, and the development and regulation of nuclear reactor technologies, including small nuclear reactors.

If there was ever a reason for Scott Moe to instruct SaskPower to move forward with a completely domestic nuclear supply chain - a proposed blanket 25% tariff on Canadian goods entering the U.S. seems like one to me. Political variability should not be a limiting factor when it comes to Saskatchewan's power security. #Saskatchewan is home to one of the world's most plentiful uranium deposits, and #Canadian nuclear technology in the form of next generation #CANDU reactors are what we need to take us into the next phase of power generation. Keep the economy domestic. Utilize Saskatchewan's industry, it's expertise in mining, research and product development. Keep the supply chain local. Export our surplus. Create a #Saskatchewan #sustainable #chain #reaction free of foreign owned third party proprietary technology.

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An overview of Canada’s #helium resources Canada possesses helium resources estimated at 70 billion cubic feet (Bcf), according to the United States Geological Survey, ranking it fifth globally in terms of helium reserves. This substantial reserve has garnered significant investment interest, particularly in Alberta and Saskatchewan, where helium exploration has been the focal point. Notably, since 2018, the area of land leased for helium exploration in Saskatchewan has quadrupled. Responding to this burgeoning interest, the government of Saskatchewan has devised an action plan aimed at facilitating helium development within the province. The primary objective of this plan is to contribute 10% of the world’s helium production by 2030. https://lnkd.in/emkEu9S6. #helium #canada #heliumsupply #heliumexploration

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Montney myth – “Eventually decline rates will drop with larger well inventories and more mature base production” – as shown in June’s Montney Connect, this does not appear to be the case. Corporate Montney decline rates have hovered between 25-30%/year. Understanding true decline rates can inform drilling and capital deployment decisions. #EVA #McDanielResearch #UnrivaledUpstreamAnalytics

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While I opposed the development of the TransMountain Pipeline for safety and potential emissions lock-in, one cannot say it had no impact on oil prices. There are major refinery closures in the US and weak demand for sour crude from China due to relatively poor macro-economic performance. However, it would be unwise for Canada to make economic policy based of continued growth in oil demand globally. Of all the markets, the Asia-Pacific is one where there is significant potential for demand growth.

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Canada Exploration Update! The sector is on a disappointing run of offshore exploration results. ExxonMobil’s Persephone C-54 well in the frontier Orphan Basin encountered non-commercial hydrocarbons, following bp’s unsuccessful Ephesus F-94 well last year. These were first wells in the basin since an unsuccessful campaign by Chevron over a decade ago. Nearby in Flemish Pass, Equinor is halfway through a two-well program aimed at bulking up the resource at its Bay du Nord project. However, the first well, Sitka C-02, hit non-commercial hydrocarbons. Drilling is ongoing at the Bakeapple M-35 well, with results expected before year-end. In the meantime, the latest round offering acreage offshore Eastern Newfoundland is underway with bids due in early-November.

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