Penn West-China Investment Corporation Joint Venture: Peace River Oilsands

Here's an article from the Calgary Herald about the Penn West-China Investment Corporation joint venture that Peace River residents may find of interest. This venture has provided an important cash injection for Penn West's Peace River oilsands assets, which may result in output of 10,000 barrels per day by the end of 2012 compared to about 2700 barrels per day now, according to the article. Peace River and the surrounding area is already seeing some results of this increased investment and we anticipate much more in the coming years.