Underground Energy is pursuing heavy oil and tar sands prospect opportunities on the island
of Trinidad located in the Carribean Sea, adjacent to Venezuela.
Trinidad and Tobago are the Caribbean's largest
producers of oil and natural gas with proven oil reserves of 728.3 million barrels as of January 1, 2009 (estimate by the
CIA World Factbook), and an average daily production of
163.3 thousand barrels of crude (estimated in 2008 by the
CIA World Factbook). The two largest crude oil producers on
these islands are BHP Billiton and the state-owned and operated
Petrotrin, which each produce about 25 percent of the country's total
production. While most production in Trinidad and Tobago occurs
offshore, there is a significant amount of heavy oil and tar sand deposits onshore.
Underground Energy is evaluating underground tar sands recovery operations and shallow heavy oil prospects with local operators and authorities.
