Inject steam first to heat up the bitumen.
Then inject oxygen to ignite the bitumen like a charcoal briquet.
Proven oil technology must have 6-12 months of uninterrupted operation.
Ramping up its 100,000 barrel per day operation.
ET Energy raising money for a 10,000 barrel per day pilot. Second quarter 2010.
Open ended upside in terms of size of the commercial scale projects.
$12000/barrel of oil per day
$10-12/operating cost per barrel
10% IRR for WTI $26/barrel
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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