(JUNEAU) - Representative Jay Ramras (R-Fairbanks) Co-Chair of the House Resources Committee announced today that the stakeholders of the Nenana Basin Gas and Oil Project will make a presentation to members of the Legislature on Wednesday, March 30, 2005. The presentation will be held in the Senate Finance Committee Room at 2:30 P.M. before the Senate and House Resources Committees and the House Special Committee on Oil and Gas.

"What we have learned so far, is there is a potential for natural gas to be delivered to Fairbanks by 2008. The Nenana basin could hold as much as 10 trillion cubic feet of gas. The plan is to start drilling this summer to determine just what the resource potential is," said Ramras.

The presentation will include senior personnel from the primary stakeholders in the project, including Andex Resources, Doyon, Usibelli, Arctic Slope Regional Corporation, Enstar, Fairbanks Builders Association and Fairbanks Natural Gas. The University of Alaska will also be on hand as part of the proposed project could become University land under HB 130. Mark Meyer, Director of the Division of Oil and Gas, will also make a presentation on the geology and economic potential of the project.

Officials say a large find could benefit more than the Fairbanks area as gas could be moved both North and South. This could help with dwindling reserves in Cook Inlet and provide continued natural gas power generation for the Anchorage area.

Residents interested in listening to the presentation can do so at their local Legislative Information Offices or on Gavel to Gavel.

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