SilverWillow Energy Corporation has submitted an integrated application with the Alberta Energy Regulator and Alberta Environment and Sustainable Resource Development for approval of the Corporation's proposed 12,000 barrel per day Steam Assisted Gravity Drainage (SAGD) project on its Audet oil sands leases located approximately 75 km northeast of Fort McKay, Alberta.

Subject to receipt of all necessary approvals, it is expected that construction on the Audet project will commence in late 2015 with commercial production being achieved in 2017.

The project facilities have been designed to allow operations at a steam-oil ratio ("SOR") of 2.5, with the expected average SOR over the life of the project at 2.0. The project is currently expected to operate for 28 years and produce an estimated 103 million barrels of bitumen.

Tags: SilverWillow Energy Corporation