La Loche community Ratifies Joint Venture Agreement and impact Benefit Agreements with Access Energy
TORONTO, Feb. 17 – Access Energy Inc. (the “Company”, “Access”) is pleased to announce that the Joint Venture Agreement and Impact Benefit Agreement (the “Agreements”) entered into with the La Loche Clearwater Development Authority Inc. (“La Loche”) on October 15, 2008 have been overwhelmingly approved by the local La Loche aboriginals in a community vote on February 14, 2009.The Agreements provide land access rights to Access for purposes of exploration of petroleum, natural gas and crude bitumen and any metals, minerals or coal in the La Loche traditional lands. In exchange for granting Access the exclusive 20-year right to enter upon the La Loche traditional lands, Access has agreed to provide all financial and managerial resources to facilitate development, to involve the local aboriginal community, to pay an annual fee, and to provide royalties from production.
The Agreement covers approximately 3,000,000 hectares of La Loche Traditional Lands in north western Saskatchewan, Canada, north and west of the northern town of La Loche, Saskatchewan.
About Access Energy
Access Energy Inc. – a private Canadian company – is engaged in the business of exploring for, developing and operating unconventional oil and gas projects. Such projects may include oil produced from tar sands, also referred to as oil sands, or bituminous sands, which are a combination of clay, sand, water, and bitumen.
For further information: Paul A. Parisotto, President & CEO, (416) 359-7805