Sequestered Oil Pathway · Wildwood Initial Allocation · Now open

An oil transition mechanism worth your consideration.

An oil strategy for all stakeholders: the climate, Indigenous Nations, carbon markets, energy producers, the Province, the energy transition and the land.

The Wildwood Initial Allocation is open. These are carbon credits from a fully permitted Alberta oil sands development that is being held in the ground. To our knowledge, it is the last fully permitted, privately owned, independent oil sands asset. We are aiming to receive indications of interest by the end of 2026.

Pathway.: Sequestered oil.
Program.: The Wildwood Carbon Program, Alberta, Canada.
Project.: WSCIO-CCA2, International Carbon Registry Project 458.

3+ barrelsOf oil kept in the ground per credit

57%Market leakage deducted before any credit counts

100 yearsNon-extraction commitment, signed

50%Of program revenue to Indigenous participation (30%) and the energy transition (20%)

Our question

Why not avoid and sequester the emissions before you have to remove them?

Every barrel left in the ground is carbon that never has to be removed from the air. Wildwood puts that choice in front of the carbon market.

Why now

A level of integrity no fossil fuel project has had, to our knowledge.

Everything is now in place to support the project at high integrity. It has taken five years and tens of millions of dollars of private capital to get here: a permitted baseline, signed agreements, independent validation and verification, the International Carbon Registry, an independent rating, a revenue use covenant and a signed framework with the Nations on the land. Each element is set out below.

The broader market adds pressure to extract:

Oil prices are near US$100 a barrel.
Alberta is lowering royalties on new production.
The federal government now allows immediate expensing of capital investment, including oil production equipment.
On October 5, 2026, Cenovus agreed to acquire Athabasca Oil for about C$5.7 billion, the latest in a run of oil sands acquisitions.
To our knowledge, Wildwood is the last fully permitted, privately owned, independent oil sands asset.

The sequestered oil pathway only works if there is a carbon market for it. Wildwood is the mechanism built for it.

Sources: Cenovus Energy news release, October 5, 2026; Government of Alberta royalty framework, announced September 16, 2026; Department of Finance Canada, September 15, 2026.

Integrity

Built to answer every question, on the record.

Fully permitted, with Crown leases and approvals in hand
Engineered baseline, independently evaluated by GLJ
Methodology built to ISO 14064-2
57% market leakage deducted before any credit counts
At least 2% of each vintage held for permanence, per ICR
Validated and verified by Carbon Check, July 2026
Re-validation and re-verification under way
ICR Project 458, submitted and under ICR review
BeZero Carbon rating engaged
100-year non-extraction commitments, signed
Stewardship Framework signed by all seven Nations

Each Nation to hold a direct right to enforce
30% of program revenue to Indigenous participation
20% of program revenue to the energy transition
A public Transition Finance Statement every year
Revenue use covenant: no money for extraction or power
5% of program revenue to a Financial Assurance Account
C$5.0 million guarantee funds 8+ years of upkeep
Ex-Ante non-performance warranty
Comfort letter from a top insurance broker
Production checked against the regulator’s public data
Custody via Northern Trust Carbon Ecosystem or on ICR
The Wildwood Record, with a Skeptic’s Chapter

Ask us for more detail on any of our project highlights.

Q&A

The questions carbon markets ask of fossil fuel avoidance.

Carbon market standards and raters judge every credit against the same categories. Here is how Wildwood answers each.

Additionality

Would the oil stay in the ground anyway?

No. The development is fully permitted and economic on an independent evaluation. The company that holds the oil rights chose carbon over extraction, and the decision is dated and documented.

Quantification

Is the number real?

Credits are counted from an engineered development plan, net of leakage and the registry contribution: 3+ barrels per credit. Production is checked against the regulator’s public data.

Leakage

Won’t someone else just produce it?

Some of it, yes. A 57% market leakage deduction, taken from peer-reviewed literature, comes off before any credit counts.

Permanence

Can it be produced later?

The bitumen sits 450 to 500 metres down and moves only with industrial-scale steam. The 100-year commitments are signed and funded, and each Nation will hold a right to enforce them.

No double counting

Can it be counted twice?

No. There is one registry and one serial number per credit, and credits are issued and retired on the International Carbon Registry. These are voluntary market credits; no compliance or Article 6 claim is made.

Transition alignment

Doesn’t this keep oil money flowing?

No. A signed covenant means credit money cannot fund fossil fuel extraction or fossil fuel power, and 20% of program revenue goes to the energy transition.

Safeguards

Does it harm anyone?

More than 12,000 acres of boreal forest and caribou habitat stay undisturbed. Treaty and Indigenous rights are unchanged, and anyone can raise a grievance at any time.

Benefit sharing

Who benefits?

30% of program revenue goes to Indigenous participation. The Nations steward the land through a participation pool they own and govern.

Allocations

Half of program revenue goes to Indigenous participation and the energy transition.

30%Indigenous participation and stewardship, the seven Participating Nations first

20%Energy transition investment, with Alberta and Indigenous-aligned projects first

About 10%The company that holds the oil rights

We will publish a Transition Finance Statement every year that shows how revenue was allocated.

And where it can’t go.

Theaus Global and the company that holds the oil rights have signed a revenue use covenant in favour of the International Carbon Registry. For 100 years, credit money cannot be used to buy or develop oil, gas or coal extraction or fossil fuel power, or to repay financing for them. Compliance is confirmed in every Monitoring Report. Any breach must be reported to ICR within 30 days, and ICR may suspend issuance and cancel the credits from the breach period.

The Wildwood Record

One document that sets out the whole mechanism.

The Wildwood Record is a full account of the sequestered oil mechanism and of where this project fits in carbon markets. It sets out the considerations and key documents behind the project’s integrity in one place, and its Skeptic’s Chapter states the weaknesses we know of.

Terms at a glance

One process, with the same information for every participant.

Terms

Minimum participation of 100,000 credits; smaller buyers can request a waiver
No maximum
Payment on delivery, with no prepayment
Ex-Ante non-performance warranty
Ex-ante credits cannot be retired until verified and converted to ex-post credits
Indications can be made contingent on the rating outcome
No price is published; pricing is discussed with each participant

How to take part

Request information. Leave your name and email.
Dataroom. Project documents and a status update on the project.

Indications of interest by the end of 2026.

Independent parties

Independent parties on the record.

Registry, verification, rating, custody and insurance

Indigenous stewardship and participationSeven Participating Nations

Each organization acts in its own independent capacity. All comments on this page are Theaus Global’s alone. For each independent party’s part of the project, rely only on the documentation that party has provided.

Request information.

Theaus Global Inc., project proponent, Wildwood Carbon Program