COI.V
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Alberta Energy Resources Conservation Board Issues Class II Disposal Scheme Approval at the Silver Valley Facility
Tuesday, September 18, 2012
CALGARY, ALBERTA - September 18, 2012
Cancen Oil Canada Inc. ("Cancen" or the "Corporation" - TSX Venture: COI) is pleased to announce that the Silver Valley facility (the "Facility"), located near Gordondale, Alberta in Northwestern Alberta has been approved by the Alberta Energy Resources Conservation Board (the “ERCB”) to accept produced water for deepwell disposal onsite.
The Facility is currently operating as an ERCB-approved custom treating facility. This approval facilitates onsite disposal of produced water recovered during the treatment process and also permits Cancen to accept third-party produced water for deepwell disposal. Onsite produced water disposal complements the existing services offered and increases operating efficiencies at the Facility. Operation of the onsite produced water disposal well will commence immediately at the Facility.
The Corporation also announces that the Corporation and its Agents anticipate holding the third and final closing of its brokered private placement on October 4, 2012.