Deloro Resources Profile on Heavy Oil Investing News

Deloro Resources Ltd: Unique Corporate Vision

Wed, Jun 11, 2008

Overview

Deloro Resources Ltd is a young, emerging junior oil and gas company with a unique corporate vision. The company has chosen to acquire projects that are considered depleted yet still have substantial oil left in the ground that was not recoverable using conventional methods. Deloro will then apply an Enhanced Oil Recovery system and turn the project into a profitable operation. The vision will start to unfold with the launch of the joint venture between Deloro Resources Ltd. and Electro-Petroleum, Inc. (EPI) in constructing a pilot plant on Deloro’s Wilkie project and applying EPI’s patented DC current technology. See the EPI/Deloro press release here. The original discovered resources underneath Company land were calculated to be approximately 63.1 million stock tank barrels of heavy oil.

The What If formula: (Hypothetical)

63.1 mm barrels + EPI Technology= 63.1 x % recovery x $40= 63.1 x 35% x $40= $883,000,000

Chief Property

Wilkie

The Wilkie is a heavy oil project on a land package of 3,765 leased acres. Reliance Engineering Group recently completed an independent report in which estimates of discovered resources were performed in accordance with National Instrument 51-101 guidelines and generally accepted industry standards. The discovered resources were calculated based on McLaren sand net pay isopach maps and the average reservoir parameters. The original discovered resources underneath company land were calculated to be approximately 63.1 million stock tank barrels.
Deloro anticipates having at least one pilot plant up and running on the Wilke in the near future. It is of note that the six vertical wells and the one horizontal well readies the Wilkie project to move ahead with development at a rapid pace. The Company has reviewed certain studies and tests of three different heavy oil enhanced recovery processes and is in discussions with two of them. Preliminary meetings have been held with Petrobank Energy regarding their Thai technology and Deloro has the right to test a worldwide patented process owned by Nova Tech Enterprises.