Exploration of bitumen in Nigeria.

Is the exploration and extraction of bitumen profitable? As the federal government is aiming at diversifying the Nigerian economy from its over reliance on crude oil, bitumen/tar sands has been touted as the next big thing.Nigeria has an estimated reserves of 27bn barrels of oil equivalent of bitumen/tar sands.
Exploration of of bitumen has been stalled numerous times due to different reasons.
Over to you my fellow nairalanders, is the exploration of bitumen profitable?
Cc puskin, dominique, naijacutee, FOD
Lalasticlala