Asset Disposition Valued at C$250 Million Closed -(Uts) UTS Energy Corporation Announce Completion of the Previously Announced Disposition of its 50 PER Cent Working Interest in Alberta OIL Sands Lease Nos. 421, 022 and 023. the Leases are Located East of the Firebag River in North-Eastern Alberta. Imperial OIL and Exxonmobil Jointly Purchased Uts' Working Interest for C$250 Million. On Nov 16, 2009
Preliminary Drilling Results From the Lease 421 Area Announced -(Uts) Preliminary Drilling Results From the Lease 421 Area Announced -(Uts) On Mar 02, 2009
Firebag River Exploration Update -(Uts) UTS Energy Corporation Announced New Drilling Results From Leases 421, 022 and 023(The "Lease 421 Area") Located East of the Firebag River in Northeastern Alberta. These Leases are Owned Jointly With Teck Cominco on a 50:50 Basis. Eight Core Holes Have Been Drilled This Winter, of Which SIX Have Encountered OIL Sands Within the Mcmurray Formation. This is the Second Year of Drilling in Lease 421 Area for UTS and Teck, Having Previously Encountered High Grade OIL Sands During the 2008 Drilling Program. CEO and President William Roach Commented, "WE Have now Drilled a Total of 13 Core Holes Over the Last two Years and Encountered High Grade OIL Sands in 11 of These, With OIL Sands Thickness Estimates of Between 10 Metres and 25 Metres, and Overburden Thicknesses Ranging From 23 Metres to 68 Metres. we are Continuing our Delineation Program in This Area and Anticipate Drilling Approximately 55 Core Holes in Total During the First Quarter of 2009. Upon Completion of This Drilling Program, we Expect to Have Sufficient Data to Determine if the Potential Exists for a Fourth UTS OIL Sands Project, With the Results of These Analyses Available by Year End." On Feb 06, 2009
OIL Sands Leases Purhase Announced -(Uts) OIL Sands Leases Purhase Announced -(Uts) On Jul 17, 2008
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