2009-08-11-2008-01-01-2008-01-01

Acquired 10% interest in Joslyn oil-sands project in 3 leases NW of Fort McMurray. First-phase mining development of 100,000 barrels of bitumen/d with production scheduled early next decade.

Japan-based Inpex Holdings Inc. through its subsidiary Inpex Canada Ltd. has acquired a 10% interest in the Joslyn oil-sands project in Alberta from Deer Creek Energy Ltd., a subsidiary of French oil company Total SA for an undisclosed price. The acquisition includes interest in three leases approximately 60 kilometers northwest of Fort McMurray. Work is started for first-phase mining development of 100,000 barrels of bitumen per day with production scheduled early next decade. Additional operators are Deer Creek with 74%, EnerMark Inc. with 15% and Laricina Energy Ltd. with 1%. Inpex also has the right to participate in the construction and operation of an upgrader project in the Edmonton area.