Lakeland Town Hall: November 30, 2017

Our Path for Growth

We’ll be keeping it simple by sticking to the plan: move Orion forward in small, smart steps.

Short Term

In 2018, we’ll continue to focus on getting incrementally better at all aspects of our business. Phase 2B of Orion will be complete midway through the year which will begin adding production up to 3,000 barrels per day after ramp up. Subsequent phases of Orion will proceed when conditions are right, and will take us to 20,000 barrels per day.

Medium Term

With current approval in hand for production of 35,000 barrels per day, the Taiga Project is a key component of our growth strategy in the Lakeland. The first phase of Taiga is tentatively set to follow the full build-out of Orion. Moving ahead with Taiga would result in additional jobs and investment in the Lakeland.

Long Term

We’re in the Lakeland for the long haul. Basing our operations out of the Lakeland rather than further north was a strategic decision for Osum. Cold Lake offers a higher quality of bitumen, better access to markets, more mature transportation and pipeline infrastructure and most importantly a thriving community of skilled workers and businesspeople. All of these are reasons why we plan on being here for decades to come.