ATLANTA, May 2, 2007 (PRIME NEWSWIRE) -- OTC Stock Review announces that it has initiated coverage of Great Northern Oilsands, Inc. (Pink Sheets:GNNS). Great Northern Oilsands, Inc., headquartered in Vancouver, BC, is an active oil and gas producing company with projects in Western Canada. The assets acquired include certain Athabasca oil sands properties, production properties and conventional blue sky potential exploration opportunities. This strategy ensures the company with immediate revenue flow from conventional oil and gas properties while having a stake in the resource rich oil sands region of Alberta, Canada.
The oil sands deposits in Alberta, Canada contain the second largest known reserve of oil in the world after Saudi Arabia, an estimated 175 billion barrels trapped in a complex mixture of sand, water and clay. With the continuing decline of conventional North American crude oil reserves, the focus is turning towards oil sands exploration, development, and production. The independent petroleum engineers showed a contingent resource potential of 17 million barrels (high) to 10 million barrels (low) across all the lease sections at the Leismer project in which Great Northern now has an ownership interest in.
The Leismer sections are well located in a producing area of the Athabasca oil sands and are in very close proximity to major oil sands projects by Conoco Philips, Encana, Petrobank, North American Oilsands and Petrobank's Whitesands Oilsands Project, an experimental in-situ "SAGD" (Steam Assisted Gravity Drainage) facility. The Cecil-Eureka project is comprised of 5 separate sections totaling 3,200 acres in north central Alberta, the core area for the operator, where the operator has been directly responsible for the discovery of 1.7 million barrels of oil. The Peace River Arch area is known for producing a high rate of delivery and high reserves.
The complete report on Great Northern Oilsands, Inc. is available at http://www.otcstockreview.com/Files/GNNS/GNNS_Review.pdf.
Additional information on Great Northern Oilsands, Inc. is available from the company at:
www.greatnorthernoilsands.ca
info@greatnorthernoilsands.ca
Tel: 604-646-5625
Fax: 604-688-1817
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