SUMMARY OF CANOE HOT SPRINGS – COMSTOCK ENERGY
Comstock Energy Inc. commenced March 2006 for the specific purpose of the project, including the 1,500 acre parcel where the second geothermal resource in Canada may be located. This is the second permit (#55274) to be issued in all of Canada. . One plant will generate over 30 million annually. The government also guarantees to buy energy. The water temperature has a potential of 600 degrees Celsius! At one end of the parcel, the geo thermal plant(s) can be built and at the other end of the property, a first class natural hot springs resort. The property is located south-east of Valemount, B.C. and is called Canoe Hot Springs. Valemount is close to Jasper and Banff, Alberta. Valemount is also a twenty minute shorter distance travel time to Edmonton, Alberta, than Fairmont Hot springs is to Edmonton. If you pull up a map, you will see how Valemount is ideally situated to traverse through B.C. and Alberta and is surrounded by high traffic recreational first class resorts. The location is perfect to build a first class resort, including a consistent and escalating profit from the diversification of generating and selling energy, not to mention the carbon credits which can add millions of dollars of profit in addition to electricity generated.
Pat -the developer/seller has been working on this project for over seven years. A book was written with reference to him called Fire into Ice – the Great Canadian Diamond Discovery. Indirectly Pat assisted Charles Fipke to becoming one of the richest men in Canada. Pat is incredible at finding properties that are essential towards our natural resources. He is an older gentleman that wants to hang up his entrepreneurial ways and now retire.
Pat would consider selling Comstock Energy Inc. in its entirety or consider a joint venture. Comstock Energy Inc. has recently begun to sell shares and will continue to do so, until another opportunity presents itself. The shares to date can be dissolved by the seller, if you wish to restructure. Time is of the essence as we both are aware: the more shares sold, based on the current structure – if they do not meet with your requirements, the more complicated the process.
Pat would consider selling the company, in it’s entirety for ten million Canadian dollars. As a joint venture, negotiations would be required. Based on the work and experience that has gone into the project, ten million is just a small piece of the remaining pie.
Comstock Energy Inc. now has a web site where the qualifying report in its entirety can be viewed. If you click on to related links, you will see Canoe Cove resorts development featuring a 27 hole golf course. Also on their web site under location, you will see B.C./Alberta Map showing where Valemount is situated. As of the end of June, the Valemount airport was to have started charters from Calgary as well.
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