The Next Big Oil Play

3 Billion barrels at Grosmont for OSUM

It is a largely overlooked resource with potential to transform the oil industry: bitumen in carbonate rocks. A massive bitumen-filled carbonate deposit can be found in the Alberta Energy Corridor’s backyard. According to the Alberta Energy Resource Conservation Board, the province’s carbonate bitumen resources stand at 536 billion barrels, of which more than 400 billion barrels are found in the Grosmont Formation. This enormous bitumen resource has led to a number of companies initiating exploration and projects in the region.

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Recent News

  1. Waterous Energy Fund announces the final step of its acquisition of Osum Oil Sands Corp; shareholder meeting to be held April 30, 2021 to approve the transaction

  2. Waterous Energy Fund Announces Successful Take-Over Bid for Osum Oil Sands Corp., Commencement of Mandatory 10-Day Tender Extension Period, and Voluntary Resignation of Osum Directors and Officers

  3. Osum Board Withdraws its Recommendation that Shareholders Reject the Offer from Waterous Energy Fund

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