Canadian oil sands

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BQI`s neighbor GoldNev Resources (GNZ) will be putting out official news very soon on the results of Estimates in PASQUIA HILLS. (Stock has run the last few days to 44 cents this Friday on Anticipation)
- Goldnev holds 234 Sections of land
- They Estimate 57 Million Barrels per Section
- Equals 12.6 BILLION BARRELS of Oil!


here is there last news release (without report) JAN 28 2008

Goldnev Announces High Yield Oil Shale Core Analitical Results Confirmed for Pasquia Hills

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CALGARY, ALBERTA, Jan 28, 2008 (Marketwire via COMTEX News Network) --
Mr. Marc Dame, President and CEO of Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSX VENTURE:GNZ), is pleased to announce that the Corporation reports positive laboratory analysis results have been confirmed from the recently completed core hole drilling program on its Pasquia Hills oil shale permits in east-central Saskatchewan. The laboratory results revealed an excellent high oil yield of 61 liters per ton of rock (average of 16 samples covering 22 meters of thickness) which equates to recoverable oil in place of 57 million barrels of oil per section of land.

Goldnev's Pasquia Hills oil shale permits comprise of a total of 6 1/2 Townships (234 sections or 155,443 acres) of oil shale exploration and development rights in the emerging Pasquia Hills oil shale region in east-central Saskatchewan. Several other petroleum companies are actively developing new oil shale projects in the area including those of Oilsands Quest and Outrider Energy.

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As previously announced on October 25, 2007 and November 7, 2007, Goldnev completed the drilling of three core holes widely spread across the 6 1/2 Township (or 234 sections) permitted area in near surface outcroppings of the first and second white speckled shale and successfully encountered calcareous speckled oil shale in one well. This hole intersected a total of 22 meters (72.1 feet) of oil shale core at an overburden depth of only 7 meters (23 feet). The entire oil shale interval was cored and the collected core samples have been analyzed by UMA Engineering of Calgary, Alberta using the Alberta Taciuk Process (ATP) Technology to determine the hydrocarbon grade and content of the oil shale cores. The results of the core hole laboratory analysis were completed and sent to the company at the end of December 2007.

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Oilsands targeted by new U.S. law By CAROL CHRISTIAN Today staff Wednesday March 26, 2008 READ ARTICLE CAREFULLY!! A last minute, unnoticed clause added to a U.S. energy bill bars its government, in particular the department of defense, from using Alberta crude because it’s deemed unconventional and too dirty. And this morning, a spokeswoman from the U.S. House Committee on Oversight and Government Reform, said there are no plans to redefine unconventional to include oilsands crude. With it now being a “matter of law,” she said the government will be enforcing the clause. One strategic resource analyst believes the clause may have been added after some political maneuvering by Saudi Arabia as it is increasingly threatened by Canada’s growing market share of oil production. The Energy Independence and Security Act of 2007 was signed into legislation in December. One provision in the Carbon Neutral Government Act incorporated into the energy act effectively bars the U.S. government from buying fuels that have greater life-cycle emissions than fuels produced from conventional petroleum sources. The U.S. defines Alberta oilsands as unconventional because the bitumen mined form the ground requires upgrading and refining as opposed to the traditional crude pumped from oil wells.

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The clause was added by California Democrat Representative Henry Waxman, chairman of the house committee on oversight and government reform and ranking Republican Tom Davis. In a letter dated March 17 to the Senate Committee on Energy and Natural Resources, Waxman wrote the clause was in response to proposals by the Air Force to develop coal-to-liquid fuels which produce almost double the greenhouse gas emissions of comparable conventional fuel. “The provision is also applicable to fuels derived from tarsands, which produce significantly higher greenhouse gas emissions than are produced by comparable fuel from conventional petroleum sources.” With the last-minute addition of this clause, “They were able to bypass any sort of debate on this thing, and it did not catch the attention of senior members of the Republican party who could have deleted this particular piece of legislation from the bill,” said strategic resource analyst Paul Michael Wihbey. Meanwhile, Canada’s Ambassador to Washington, Michael Wilson, is urging the White House, State Department and department of defense to reconsider the clause, and to reclassify Canadian oilsands crude as conventional. In a letter to the U.S administration, Wilson warned of “unintended consequences” if the law is applied. American refineries that import Canadian crude will be caught in the middle: They will have to sacrifice the importation of Alberta crude to adhere to the U.S. legislation. Wihbey noted the American department of defense is the largest single purchaser of conventional oil in the world at around 300,000 barrels a day (excluding overseas imports).