Sunridge signs exclusive heavy oil recovery technology arrangement

Sunridge Energy has signed a binding letter agreement with private US based Current Environmental Solutions (CES). The agreement gives Sunridge a five year exclusive license to use CES’s proprietary technology within the Alberta oil sands area to assist in the extraction of heavy oil.  CES has the option to participate in any project in which Sunridge participates within the oil sands. Using CES’s proprietary technology (Six-Phase Oil Heating), Sunridge has an opportunity to extract oil from depths that were previously too deep to mine and too shallow to use high pressure steam injection (SAGD). (more…)