Zeus Development Corporation

May 31, 2006 12:07 ET

Gasification Driving Canadian Oilsands Boom; Meeting to Examine Technology and Trends

HOUSTON, TX--(CCNMatthews - May 31, 2006) - Nearly $80 billion is slated for investment in Alberta to develop the vast oilsands deposits found at Athabasca, Cold Lake, Wabasca, Peace River and Buffalo Head Hills over the next decade. If the projects go forward, Canada's oil production will triple in a decade, placing it with Russia and Saudi Arabia as one of the world's largest producers and making Canada the most important supplier in the Western Hemisphere.

One technology that is making this possible is gasification that can convert the byproducts of petcoke, asphaltene and coal into syngas to make hydrogen for bitumen upgrading, steam for oilsands recovery and power for boilers and cogen plants.

Such producers as OptiCanada have already installed gasification technology and thereby weaned themselves from reliance on natural gas. Others considering gasification are Suncor, Canadian Natural Resources, North West Upgrading, Shell, Chevron and PRO Upgrading. In the next five years, some $4 billion in investment is planned for gasification systems associated with oilsands.

On July 27, 2006, SYNGAS Refiner newsletter will host a meeting among the oilsands gasification industry to discuss technologies and investment in Canada and South America. The meeting, which will be take place at the Calgary Fairmont Hotel, will feature presentations on the overall trend in gasification, the economics relative to natural-gas-based systems, future investment plans and the timing for the total market.

Speakers include representatives from Husky Energy, Peace River Oil (PRO) Upgrading, Jacobs Engineering; Lloyd's Register, who is working with Suncor on gasification systems; and Fluor Canada, the major EPC firm building gasifiers for oilsands development.

Registration is $597 + VAT (USD). The meeting starts at 9:00 AM and concludes at 4 PM.

For more information, view www.syngasrefiner.com/COS or call Rebecca Maitland, conference manager, 713-333-5773 (rmaitland@zeusdevelopment.com).

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