ABSTRACT
The most important development in Canada in 1940 was the exploration and drilling under the Canol project, resulting in the outlining of a major oil field in the Mackenzie River area, 75 miles south of the Arctic Circle. On the plains of Alberta, progress has been marked in the development of the Taber and Vermilion oil fields, and renewed activity leading to further oil discoveries has been made in the Athabaska and Lloydminster areas. In the foothills drilling has shown Devonian is not present above the major fault which underlies the central part of Turner Valley, and in the Jumping-pound area where the east edge of the Paleozoic in a fault block was outlined by a seismic survey, a deep well has confirmed the presence of the limestone, but oil was not present in it.
