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     News Release - November 27, 2008 PROMISING FUTURE FOR SASKATCHEWAN'S NATURAL GAS INDUSTRYThe National Energy Board and the Saskatchewan Ministry of Energy and Resources today issued a joint Energy Market Assessment revealing that Saskatchewan has more than enough conventional gas resources to maintain a high level of natural gas industry activity for many years. The assessment, entitled Saskatchewan's Ultimate Potential for Conventional Natural Gas, shows that Saskatchewan's ultimate potential of marketable conventional natural gas resources is calculated to be 297.4 billion cubic metres (109m3) or 10.6 trillion cubic feet. This data, taken as of year-end 2004, represents a 42 per cent increase from the last study made by the National Energy Board in 1998. About half of that volume has already been produced; the remaining volume is 150.6 billion cubic metres (109m3) or 5.3 trillion cubic feet. Ultimate potential is a science-based estimate of the total amount of conventional natural gas in an area. This includes gas produced to date, estimated remaining proven reserves and an estimate of future discoveries. The majority of natural gas in the province is non-associated which means it is found in reservoirs where no crude oil is present. The current annual production of non-associated natural gas in Saskatchewan is approximately 6.9 billion cubic metres (109m3) or 245 billion cubic feet. The assessment notes that shallow gas in Saskatchewan's Milk River, Medicine Hat and Second White Specks formations shows 80 per cent growth since the last study which focused primarily on deeper zones. New technology, improved production practices and higher natural gas prices have pushed exploration into areas once thought of as marginal or non-economic. "This joint assessment process is important for Saskatchewan," Energy and Resources Minister Bill Boyd said. "Because it provides measurable proof of our considerable resources and gives us the basis for sound resource management and sustainability planning." "The partnership with the Ministry in Saskatchewan was a productive and valuable one as we were able to work together to better understand the gas resources in the province," National Energy board chair and CEO Gaétan Caron said. "With this model of partnership, we can strive to achieve greater regulatory efficiency through all parts of the industry." The National Energy Board monitors the supply of all energy commodities in Canada. It publishes ultimate potential reports on an on-going basis to reflect changes in estimates based on new discoveries or new plays being developed. This is the third time the National Energy Board has collaborated with a provincial agency to produce a joint report. This news release and a fact sheet are also available on the NEB's Internet site at http://www.neb.gc.ca under What's New! For a copy of this report visit Saskatchewan Ministry of Energy and Resources at www.publications.gov.sk.ca. National Energy Board Publications Office -30- For more information, contact: Stephen Rymes, P. Eng. Bob Ellis Jim Davidson Stacey Squires  News Archives
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