Overview

Osum Oil Sands Corp. is a privately held, Alberta based company focused on the application of in situ technologies to the oil sands.

Osum's booked 2P reserves now rank it among the top 10 Canadian companies operating in the oil sands (based on data from Wood Mackenzie).

The Taiga Project (Cold Lake): A solid base in an established area.

• The Commercial Application and Environmental Impact Assessment for the Taiga Project were filed with regulators in Q4 of 2009.
• Regulatory approval is anticipated in mid 2011.
• Infrastructure design is currently underway.

The Saleski Carbonates: Major upside potential.

• Osum's JV pilot - now under construction at Saleski - will be the first to test the application of SAGD in the Grosmont carbonate fairway. The fairway holds an estimated 318 billion barrels of oil in place.
• Start-up of the JV pilot is anticipated in Q1 2011.
• The pilot will also test the effectiveness of light hydrocarbon solvents, which have the potential to significantly reduce both the costs and energy intensity of bitumen recovery in the carbonates.