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| SURGE GLOBAL ENERGY, INC |
In June 2005, Genoil signed a Letter of Intent with Surge Global Energy, Inc., to build a hydroconversion upgrader of 10,000 bpd at Surge’s Sawn Lake heavy oil development, where reserves are estimated in 1.7 billion barrels. Surge Global controls a large amount of heavy oil reserves in the Athabasca Oil Sands region of Alberta.
The first step in this is to conduct a feasibility study. The testing of the Sawn Lake crude at the GHU pilot facility in Two Hills, Alberta, will begin after the test wells have been drilled and production tests are completed by Surge Global.
Presently, Surge Global is awaiting the results of the feasibility study and cost estimates for the appropriate upgrading facility.
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Surge Global Energy
