Octagon88

Octagon 88 Resources Inc. - ISIN# US67572P1012

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Assets & Acquisitions

 

 

CEC North Star


CEC North Star Energy Ltd

Late 2012 Octagon 88 laid the foundation in what management believes

to be the next decade of success for the Alberta Oilsands,

securing 33% ownership of 

CEC North Star LTD.

CEC North Star LTD has set sights on three "sweet spots" which they project early stage development of 2000 barrels a day.

 

The recovery process at large has been determined by management and third party engineering firms as a 3.0 billion PIIP (Petroleum-Initially-In-Place) development.The last two transactions made by Octagon 88 Resources equate to $90,000,000 and makes Octagon 88 the largest publicly traded shareholder of CEC North Star LTD.

 Click here for the CEC North Star Corporate Presentation

Disclaimer


 
Bluesky / Gething

Bluesky Bitumen-Filled Channel Sandstones (seismically defined)

Multiple stages of channel development (incised valley deposits), similar to productive Peace River channel sandstones to the south are believed to occur to the southeast of Manning. Seismic is required to delineate channel thickness and heavy oil prospectively. Evaluation of drilled wells in the area indicates that porosity ranges up to 30% and that heavy oil saturation occurs. The sandstones are very fine (marine) to medium grained (estuarine to fluvial), salt and pepper (i.e., quartz and chert composition) and variably glauconitic.

The Bluesky core reviewed show definite oil content – in addition corresponding logs for this well, compare favorably with the well identified on CEC Project B.  With mapping already completed the support of this core proving presence of oil, the confidence of a Bluesky Channel on Project B is strengthened. Several lines of trade seismic have been purchased over the area to more fully map the channel overall area in preparation for an independent engineering report as well to identify the thicker parts of the channel for the drilling and core program planned for 2013.


Elkton & Debolt 

The Elkton “Sweet Spot” (probably the best Mississippian–age, heavy oil prospect in western Canada)

The Elkton Debolt combined carbonates are thick (up to 35m), slightly dolomitic limestone (wackestones-packstones) with variable oil saturation. Observed porosity ranges up to 24%. The geology is somewhat similar to the erosional edge play, except they are further down dip and thicker. Fluid saturations vary throughout and permeability may be slightly lower.


The Erosional Edge

Debolt “Sweet Spot”

The Erosional Edge on the Elkton Debolt Members includes dolomitic, highly oil saturated limestone (packstones to mudstone) that were deposited in a shoaling upward carbonate environment. Both porosity and permeability have been enhanced near the formations’ erosional edges. Thickness ranges from approximately 6-20 meters, and porosity values are up to 28%. These reservoir rocks are relatively homogeneous compared to the karsted Devonian Grosmont Formation.

The Cores from comparable Erosional Edge wells in the Peace River Block as mapped over Projects A and C and over portions of B are very positive – with one well drilled recently showing very thick zones of Elkton/Debolt with obvious oil wetting.  These projects have opportunities for primary production without stimulation or EOR (enhanced oil recovery) as the oil in the erosional edge is expected to be of a lighter API (density) than the main thicker Elkton/Debolt zones.  Cold flow or primary production would dramatically add to early stage economics as the projects develop.  This is the primary target for the Q2 2012 drill program as typically seen in other comparable; migration of lighter viscosity oil to the erosional edge is common – geologic studies suggest potentially similar results to Shell Chipmunk, Baytex Seal etc.  Also, the erosional edge corresponds to Laricina's Saleski project on the erosional edge of the Grosmont Carbonate Trend.

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Disclaimer

Press Releases

November 19th, 2014 (BUSINESSWIRE)—Zug, Switzerland Octagon 88 Resources Inc. (OCTX) is pleased to present the November 2014 Executive Summary, the summary is aimed to summarize completed drill...
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July 31st, 2014 (BUSINESSWIRE)—Zug, Switzerland Octagon 88 Resources Inc. (OCTX) is pleased to announce that since the company’s last operation update the operator has moved forward with drilli...
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HEAD OFFICE

Hochwachtstrasse 4

CH-6312 Steinhausen

Switzerland

 

Registered Office

318 N Carson St #208

Carson City

NV 89701 - USA

 

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