Project Icewine Highlights Operator on 100,000 contiguous acres onshore Alaska in prolific oil-rich province with multiple objectives 87.5% Working Interest, 10 year leasehold, 16.5% royalty and strategically located in the heart of…
Project Icewine Location: North Slope Division of Oil & Gas North Slope Areawide 2014W Kuparuk Oil Field Oil & Gas Lease Sale Map 6 BN OOIP Prudhoe Bay Oil Field ALASKA October 21, 2014 13 BN Rec Resource QUGRUK 3 wells State Oil…
Nearby Drilling 1H 2015 GREAT BEAR Three exploration wells planned from Jan-15 UPDATE: to May-15 to appraise both conventional and NORTH SLOPE unconventional targets REGIONAL ACTIVITY Alkaid-1 2015 Talitha-1, 4 miles from Icewine…
North Slope: Salient Facts Proven and productive petroleum province which hosts the largest oil field complex in North America Co-venturer spearheaded Conoco Phillips early entry into the Eagle First Mover Advantage Ford Shale Play…
Primary Target Shale Oil Highlights Primary shale oil target is the HRZ member of the Hue South North Formation HRZ (55m) (45m) Favourable HRZ characteristics: Thick condensed marine shale Average thickness 195 feet (55m)…
Primary Target Shale Oil Thermal Maturity Given the good quality and quantity of organic matter (TOC) in the HRZ then one of the main Great Bear 2012 Unconventional controlling factors is thermal maturity / burial pilot wells (2)…
Secondary Objective Conventional Proven and most active play on the North Slope Two discoveries on acreage immediately adjacent to Icewine including Great Bear 2012 Example: EXAMPLE: Undeveloped Offset Discove UNDEVELOPED DISCOVERY…
Project Icewine Indicative Work Program 2014 2015 2016 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Nov-17 Bid on acreage Nov-19 Bid Result Acreage Award G & G, buy, reprocess & interpret vintage 2D seismic Confirm well location & map…
Recent Industry Transactions Buyer Seller Trade Repsol Armstrong Cost recoupment on 494,000 acres, ORRI, carried 30% WI through minimum of US 750MM of drilling Halliburton Great Bear Farmed in by drilling 2 wells and acquiring…
Project Icewine: Alaska Deal Metrics Ground floor entry with minimal promote on acreage swap with Burgundy Xploration LLC (BEX) 8,640 existing acres (BEX) reciprocally backed into the awarded acreage based on valuation of US0.5 MM to…
Icewine Unconventional Opportunity: De-risking by pilot hole drill & core Risk of not encountering hydrocarbons in targeted HRZ/Hue shale is considered low Pilot hole with coring program will confirm well known positive…
Project Icewine Concluding Remarks Low cost entry to gain exposure to large untested unconventional shale oil play on the North Slope with significant reward Excellent fiscal terms and tax incentives: Low cost exploration and…
New Board and Management Mr Michael Evans Non-Executive Chairman Dr Stephen Staley Non-Executive Director Extensive executive and Board level experience 30 years of energy management and technical with publicly listed companies in…
Corporate Information KEY STATISTICS AS AT 27 NOVEMBER 2014 Registered Office: Level 2, 5 Ord Street, Perth WA 6005 Total Ordinary Shares: 452,026,723 Options: 39,025,087 Postal Address: Number of Shareholders: 2,793 PO Box 1674,…
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