Projects
Offshore Western Newfoundland Petroleum
Vulcan owns 19% of the shares of NWest, a public corporation, specifically created to explore for petroleum in certain offshore parcels of western Newfoundland. NWest’s lands cover a portion (650,000 hectares) of the offshore Anticosti Basin adjacent to the west coast of Newfoundland and contain a prospective sequence of Cambrian-Ordovician platform rocks overlain by an untested foreland basin. The exposed onshore stratigraphy contains mature oil source rocks, (Green Point shale with up to 10% total organic carbon) including numerous oil and gas surface seeps at Parsons Pond and a light oil discovery onshore at Port au Port. Several seismically defined leads and prospects exist on the NWest lands. A National Instrument 51-101 compliant Resource Assessment Report completed by Sproule Associates Limited concluded that “the 11 most significant geophysical anomalies herein considered as forming the initial exploratory drilling phase of NWest’s ongoing program may have an undiscovered in place resource in the order of 3.8 billion barrels.” As well the lands have potential for oil shale which may be exploited by drilling wells from the onshore to the offshore. Please visit www.nwestenergy.com for more information..
