LOW CARBON EMISSIONS TO PRODUCE
Big Sky Resources controls 30,000 net leased acres in Utah, which we intend to increase to approximately 100,000 net acres. The Company's proven oil manufacturing process separates oil sands into ultra-low sulfur oil and sand to produce sustainable products, all with dramatically lower emissions and zero waste. The oil sands of the western United States are noticeably different compared to the Canadian oil sands in that they are locked in dry sandstone formations with very little water. The dry nature allows the ore to be mined by conventional means and processed by simply crushing the ore and washing it in a solvent. This means our process is clean with no waste, which compares favorably with the environmentally insensitive Canadian oil sands.
REMEDIATED ULTRA LOW SULFUR OIL
Low carbon manufacturing of oil sands, separating and remediating oil from sands utilizing proven green oil sands processes resulting sand, silica and water as byproducts
- 30,000+ Net Acres with favorable royalties
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4.5 B barrels of potential oil in place (Netherland Sewell)
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Ultra Low Sulfur Heavy Oil provides premium oil price
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Initial production of 2.5k b/d with expansion to 40k b/d
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Low unit costs (<$22/Bbl) enhanced by byproduct revenue
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120k-acre aerial 3D survey completed 4Q21
Development
CoreX’s first major development will be located on approximately 469-acres in Northeastern Utah, where the company plans to develop a refinery and AI data center supported by onsite power generation using locally produced natural gas. With constrained regional gas takeaway capacity and associated flaring, CoreX believes the site highlights a repeatable model that can be expanded into other oil and gas producing regions.
BESS
Battery Energy Storage Systems (BESS) are refined wax and lubricant production.
The Opportunity - Waxy Crude Oil: The region has experienced significant oil production growth, with supply increasingly outpacing existing regional refining capacity. As a result, a meaningful portion of local crude must be transported by truck and rail to larger Gulf Coast refining markets, which can add roughly $15–18 per barrel (Bbl) of transportation cost and contribute to a material price differential versus US oil prices (WTI). This dynamic is further reinforced by the specialized waxy characteristics of certain regional crude streams, which limit conventional pipeline transport and reduce the number of refineries capable of processing them efficiently. CoreX believes these conditions create an attractive opportunity for strategically located refining capacity, with future expansion potential as regional supply and market demand continue to develop.
AI Data Center
CoreX’s data center strategy is designed for AI inference and training workloads. The Utah site contemplates 12 data center pods, each with 50 MW of natural-gas-fired power, phased modular development, and multi-year contracted usage.
Power Infrastructure
Onsite natural gas generation is the common foundation of the model. CoreX describes behind-the-fence natural gas generation as a way to provide reliable and dedicated electricity supply, stabilize power cost, and expand incrementally as demand grows.
LOW CARBON OIL PRODUCTION
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Estimated 50% lower CO2 emissions in production of low sulfur oil based products
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Onsite processing enhances low carbon production profile as no additional refining is needed
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Closed loop production system minimizes emissions
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95%+ surface oil removed from native sand
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Plant produces no waste product
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Ultra-low sulfur fuel could potentially be provided to the Marine Industry as a low carbon, cleaner fuel
IMO 2020 BUNKER FUEL
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The International Maritime Organization (IMO) lowered max sulfur in fuels from 3.5% to 0.5% in 2020
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Limited availability of low sulfur heavy fuels worldwide
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Unique oil, only trace amounts of sulfur, typically <0.3%
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Expect to produce Very Low Sulfur Fuel Oil or potentially Marine Gas Oil (WTI+$10-15/Bbl)
AGING REFINING INDUSTRY
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No decline curves/No reservoir risk
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Limited maintenance CapEx
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Surface mining vs downhole and associated risks
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Homogenous resource 100-200 ft. thick
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Target mineable resource Sufacet to 500 ft. deep
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95%+ recovery of mineable ore
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20+ year reserve life
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Large resource base, comparable to Bakken (7.4 B bbls oil) and Eagleford (9.5 B bbls oil)
