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Media Release | Alberta

Media Release: Upgraders for Alberta

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Today, Starlight Energy Inc. proposed to Premiere Notley and the Alberta Government to build three individual world class modern bitumen "up-graders". Media Release (02/26/2018) ALBERTA - The three individual "up-graders" are estimated to cost approximately $ 44 billion.

The Starlight "up-graders" eliminate "diluents" and up-grade the bitumen to a Synthetic Light Crude Oil (SLCO) 40 API, and with less than <300 ppm of sulfur.  This up-grading of bitumen from a low value of approximately $30.00 per barrel (without diluents) to one of a world class SLOC of $70.00 solves the Alberta "dirty oil" image.

Starlight for each separate "up-grader" project is expecting to receive a ironclad bitumen supply agreement for minimum of 30 years to justify the economics.   Potentially, the first project would be the Kinder Morgan Pipeline where 890,000 barrels of "dilbit" (60% bitumen and 40% diluent), so really 534,000 net barrels of bitumen is being proposed to be shipped by pipeline.   The Starlight "up-grader" will improve the quality of the bitumen such that 890,000 barrels of oil is being shipped instead of 534,000.  This represents a major difference economically plus elimination of the "diluents" the toxic substance that kills.  

The economics are: 534,000 barrels at $30.00 per barrels x 365 days = $5,847,300,00 versus 890,000 barrels x $70.00 x 365 = $22,739,500,000 or $16,892,000 billion per year more.  And for just a quick estimate (Kinder Morgan, Keystone, East Link), Approximately net 1,692,000 barrels of bitumen at $30.00 x versus Starlight with approximately 2,820,000 barrels of oil per day at $70.00 per barrel; (2,820,000 SLCO x $70.00 x 365) - (1,692,000 x $30.00 x 365) =   $ 72,051,000,000 - $ 18,527,400,000 = $ 53,523,000,000.

This represents a $ 53,523,000,000 per year price differential.

To further enhance the object and financial viability of the business deal Starlight Energy Inc. is offering the Alberta Government a 25% equity stake for no cost except the "guarantee of supply".  There is tremendous upside for the Alberta Government in that all current bitumen flowing has a new opportunity to see a new price of $70.00 per barrel.  From a "dirty oil" image to a "clean oil" image.

Alberta can once again become the "Alberta Advantage".

Jeremy P. White CEO


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