The Legend Lake region consists of 27 Oil Sands Leases covering 65,024 contiguous gross hectares and is located within the Athabasca oil sands region in township 96 and range 18 west of the fourth meridian, approximately 115 km from Fort McMurray and 15 km from West Ells.
On the basis of our Management’s assumptions, we anticipate that Legend Lake will have a 44 year productive life, achieving greater than 50,000 bbl/d of bitumen for 20 years. A 10,000 bbl/day commercial SAGD application to construct the first phase at Legend Lake was submitted on November 25, 2011.
The Legend Lake area will also be developed in phases to control costs, implement improvements in recovery technologies and capture efficiency. The Legend Lake asset team has completed the DBM (design base memorandum) and is progressing FEED (front end engineering and design) and is structuring agreements for long lead equipment and services.