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The Company has discussed the AOGCC decision with its Cosmopolitan joint venture partner, BlueCrest Energy Inc.
The two AOGCC geologists oversee every permit to drill in Alaska, review proposed programs, and make sure operations comply with state regulations and Commission orders.
The AOGCC also has found that Conservation Order No.
(128.) Alaska law stipulates that the AOGCC, "upon proper petition, after notice and hearing, has jurisdiction, power and authority, and it is its duty to make and enforce orders and do the things necessary or proper to carry out the purposes of this section." ALASKA STAT.
"The then-coordinator told me that since we were both regulatory bodies, the AOGCC shouldn't hold the BLM to the same standards we hold industry to.
This is a major consideration because there are concerns that if gas offtake from Point Thomson to a pipeline is not done properly it could result in less production of the liquids, and the AOGCC's responsibility is to ensure that this doesn't happen.
- A drilling permit from the Alaskan Oil and Gas Conservation Commission ("AOGCC"); and
However, the fact that small independents are involved means that the state's regulatory agencies--the AOGCC for well safety and the Department of Environmental Conservation for oil spill prevention--must be vigilant to ensure procedures for oil spill prevention are being followed.
Awaiting formal approval from Alaska Oil and Gas Conservation Commission ("AOGCC") to test the primary target interval found in the well.
The AOGCC is an independent State regulatory commission that provides oversight on drilling safety and other industry practices.
Testing of the well will commence when the production liner has been run and formal approvals for testing have been granted by the Alaskan Oil and Gas Conservation Commission ("AOGCC").
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