CLINE SPEAKS AT INTERNATIONAL PETROLEUM CONFERENCE

Released on May 5, 2006

An international conference next week in North Dakota is examining petroleum potential in one of North America's top oil producing regions – a region that includes much of southern Saskatchewan.

Industry and Resources Minister Eric Cline helps open the Williston Basin Petroleum Conference, May 7th-9th in Minot. More than 500 petroleum engineers, drillers and geoscientists are expected to share information on technological advances relevant to oilfields in the Basin, which spans southern Saskatchewan, and parts of North and South Dakota, Montana and Manitoba.

"While the Basin's unique geology is a matter of sheer luck, the prosperity we all derive from it has nothing to do with luck and everything to do with people working together and sharing new knowledge, especially in areas like enhanced oil recovery," Cline said. "This conference is an excellent opportunity for players on both sides of the border to work together on issues that are mutually beneficial."

The oil and natural gas industry is the largest contributor to Saskatchewan's economy, accounting for seven per cent of the province's gross domestic product. Saskatchewan derives approximately 35 per cent of its oil from the Williston Basin.

The conference is co-sponsored by Saskatchewan Industry and Resources, the North Dakota Department of Mineral Resources and the North Dakota Petroleum Council. The event's location alternates between the two jurisdictions each year. A new feature introduced to this year's 14th annual conference is a Prospect Expo trade show.

Saskatchewan currently produces about 438,000 barrels of oil per day and 780 million cubic feet per day of natural gas. The combined annual value of oil and gas sales for 2005 was approximately $8.8 billion. Saskatchewan's industry employs approximately 26,000 people (directly and indirectly).

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For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306) 787-1691