OSEC’s Commitment to the Environment OSEC's Privately Held Land and Federal and State Leased Lands
46,354 acres estimated to yield 2.7 billion barrels of recoverable shale oil
Once it reaches the commercial phase of its RD&D project, OSEC will have preferential rights to 4,960 acres of BLM oil shale land adjacent to the White River Oil Shale Mine. In addition, OSEC has secured the rights to over 25,000 acres of privately held premier oil shale land. These parcels are contiguous to the BLM preferential lease land. In all, these private properties are estimated to contain 2.1 billion barrels of recoverable shale oil.
Other options have been secured on over 102 oil shale mining claims that cover over 15,000 additional acres of oil shale land also contiguous to the preferential lease property. If and when the federal government issues patents for the claims, these 15,000 acres will also become part of OSEC reserves and contain another 600 million barrels of recoverable shale oil.
Cliffs Synfuel Lands (now owned by OSEC)
OSEC has acquired Cliffs Synfuel Corp., formerly a wholly-owned subsidiary of Cleveland-Cliffs Inc. The newly purchased asset is the premier privately held oil shale land in Utah that contains over 22,000 acres of some of the richest oil shale land in the world. The property includes approximately 18,000 acres of private oil shale land and various other valueable minerals. The property also contains seven Utah state oil shale leases encompassing nearly 4,400 acres. Cliffs has 4 unpatented oil shale claims covering 520 acres; the validity of these claims has been challenged by the federal courts. Cliffs Synfuel also owns water rights on the White River and a producing water well that was also acquired in the aquisition.
OSEC RD&D Lease
The 160-acre BLM lease includes the entire White River Shale Mine footprint and all buildings and infrastructure built in the 1980's.
OSEC Preferential Lease Lands
OSEC's Lease provides for expansion of the 160 acre RD&D Lease to an additional 4,960 acres "preferential lease" once OSEC demonstrates commercial viability of oil shale production. The entire lease would then total 5,120 acres.
F.V. Larson Lands
OSEC has an option to purchase these 830 acres of oil shale lands that are owned 100% by Orion Reserves Limited.
Larson-Ivers Lands
OSEC has an option to purchase Orion Reserved Limited's 50% interest in these 2,240 acres of oil shale lands.
Larson Unpatented Claims
OSEC has an option to lease or purchase these lands (102 oil shale mining claims covering 15,370 acres of oil shale) from Orion Reserves Limited, if and when the federal government issues patents (deeds) for the lands.
Breakdown of OSEC Lands that Contain a Minimum of 25 Gallons Per Ton
