Alberta is one of the richest provinces in Canada and much of that wealth has sprung from the oil & gas industry. The most famous of the crude oil discoveries was Leduc #1, on Feb. 13, 1947. Some 30+ years prior to this, investors were hoping for the same success in this neck of the woods.
O.T. Ross, a California oil engineer, was prospecting in the north in 1913, about the same time the railroad was making its way towards Mirror Landing. His opinion was that the indications for oil were of the very best. Mr. Shillingsworth of Ottawa became the head of a syndicate that felt undertaking developmental work in this region was a great idea.
James Wood, Ex-Mayor of Athabasca, became President of the Moose Portage Oil Company, Mr. Wood secured control of 3,840 acres in and around Moose Portage. The property was 60 miles from Athabasca and 12 miles from Mirror Landing with 2 miles frontage on the Athabasca River. The property was located a mile west of that owned by the British Syndicate which proposed to spend 2 million in development close to the spot recommended by Government Geologists. They expected to strike oil at 1,750 feet but were arranging for a drill that could go 3,000 feet or more.
Things apparently did not go as planned as the following article was in the May 28, 1915 edition of Northern News: "All persons having claims against the above company are requested to file them with me by Sept. 2, 1915. John P. Evans, Liquidator, Athabasca." On June 25, 1915 the Northern News states: "The Moose Lake and Athabasca Oil Company is being wound up." The reasons are not given.