1. QEI has contracted, on 5 January 2016, the borehole drilling works for geological investigation with the Jordanian company, Al Own Advanced Contracting and Mining Co., and the contractor has completed phase I (40 boreholes). As more encouraging data is needed QEI, on January 30, 2017, extended the drilling contract to include a phase II with 13 boreholes to be drilled.
In summary, the contractor has completed as of mid- April the drilling of:
i) 52 boreholes of different depths penetrating the oil shale stratum underlying the bloc and earmarked for retorting; it is to be noted that 10 other boreholes were previously drilled by the Natural Resources Authority, NRA, now part of MEMR. The total is 61 boreholes of which 4 were used to yield a full core for testing the borehole profile (overburden and oil shale).
ii) The average Stripping Ratio in each borehole has been determined.
iii) The estimated geological reserve of oil shale has been calculated.
iv) The proven reserves for cutoff grade, COG, of 8.5% will be calculated pursuant to the ongoing chemical analysis and test results.
v) Based on the data obtained from the exploration program activities the following study components are being updated: (full exploration report, correlation geological study, and Initial Mining Plan).