PREMIER AND INDUSTRY MINISTER PROMOTE SASKATCHEWAN OIL

Advanced technology and the latest in geoscience research will be the focus of petroleum industry experts gathering in Regina next week for an international conference.

Premier Lorne Calvert and Industry and Resources Minister Eric Cline will participate in the 13th Williston Basin Petroleum Conference as keynote speakers addressing issues and opportunities facing Saskatchewan's oil and gas industry.

The Williston Basin, from which Saskatchewan derives about 45 per cent of its oil, spans southern Saskatchewan, and parts of North and South Dakota, Montana and Manitoba. Approximately 300 delegates from industry and government from both Canada and the U.S. are expected to attend the two-day conference.

"The Williston Basin has unique oil resources and by getting all the players together under one roof, we can share new knowledge, especially in areas like enhanced oil recovery," Cline said. "Considering the province could gain as much as 1.75 billion barrels of oil by increasing recovery from 15 per cent to 20 per cent of total reserves, no opportunity to learn more should be overlooked."

Industry and Resources is launching a number of new products at the conference designed to aid exploration in the Williston Basin area, including a digital map series.

The conference is co-sponsored by Industry and Resources and the North Dakota Geological Survey and alternates between the two jurisdictions each year.

Saskatchewan is Canada's second-highest oil producing and third-highest natural gas producing province. This sector is the largest contributor to the provincial economy at eight per cent of GDP.

Last year, a record $901 million in oil revenue came to the province. Gas revenue was at its second-highest year at slightly over $200 million. Approximately 24,000 jobs in the province are related directly and indirectly to the oil and gas industry.

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For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306) 787-1691