Oil sands lease sale falls through
Mar 2, 2012 at 12:38 pm in Business, News by tyler.king
Oilsands Quest incorporated won’t be able to sell its Eagles Nest lease as it expected to.
The insolvent company, which is under creditor protection, says its buyer defaulted on the purchase.
A week ago, the company said it had gotten court approval to sell the 9200 hectare property to a Vancouver company for 7 million dollars.
The company, F-A-M-A Capital, had told the Calgary Herald it would use the property to develop a thermal oilsands project.
Published March 2, 2012