UPDATE 1-Petrobank suspends operations at Conklin facility
Sept 29 (Reuters) - Petrobank Energy and Resources Ltd said it will suspend operations at the Conklin facility in Alberta until it finalizes plans to either integrate it into its larger May River operations or abandon it.
The Calgary-based oil and natural gas explorer said the energy regulatory hearing of its application for Phase 1 of the May River project in Alberta is scheduled for March 6, 2012.
It has suspended air injection at the Conklin demonstration project after completing wet combustion test at the site, the company said in a statement.
Petrobank, which has a 59 percent stake in PetroBakken Energy , said suspension of its Conklin operations will not impact its May River development plans.
In June, the company said proved and probable reserves at May River were at 90.6 million barrels.
Petrobank shares closed at C$8.25 on Wednesday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Don Sebastian)
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- New Jersey hiker killed by black bear : police
- Islamic State urges attacks on U.S., French citizens, taunts Obama
- Housing data hits Wall Street; S&P has worst day since August 5