Project summary Northern Petroleum has established a 30,000 acre land position in the Virgo area of NW Alberta to undertake a field re-development project The area is prospective for light oil from Devonian Keg River vuggy carbonate…
The Virgo area Virgo is located in a remote Boreal forested wilderness setting, 500 miles north west of Edmonton, Alberta Northern land position (five year petroleum and natural gas lease) 10 miles October 14 4
Virgo area geological background The area is prospective for oil and gas in several formations at Cretaceous and Devonian Levels Fort Simpson and Muskwa Shales Upper Keg River formation has been prolific for Slave Pt. oil with over…
Reef count The Company participated in eight Crown land sales in 2013 and 2014 Acquired just under 30,000 acres for a total of Cdn2.9 million The Company has obtained mineral rights covering 118 full or partial Keg River reefs It…
Infrastructure Roads Emulsion Gathering Gas Gathering & Export The area benefits from extensive infrastructure which was constructed between 1968 and the present day Good road infrastructure and proximal tie-in locations…
3D seismic position WABAMUN FORT SIMPSON SLAVE POINT KEG RIVER The company has purchased and interpreted over COLD LAKE 50 sq km of 3D seismic Just under 30% of the land position is now covered October 14 8
Keg River Formation at Virgo Average KR Reef properties Porosity 8% Water Saturation 15% Net Pay 35m Radius 250m Kh (air) 100mD Oil Gravity 32-40 API Reservoir Temperature 75 C Original Solution Gas Oil Ratio200-450 scf/STB Initial…
Primary gas in the Keg River Formation The Keg River formation deepens to the West and is sourced from later basinal Keg River equivalent strata The increased maturity of the source rock leads to higher API gravity oils and…
Production performance in Keg River Reefs Sweep Displacement of oil by water within swept areas of the reef can achieve recovery factors between 45 65% Virgo / Zama / Amber To the south of Virgo, in Wells / Reef 1.5 the Rainbow…
Production performance in Keg River Pinnacle Reefs Geological Model The core of the reef tends to be homogenous and vertically continuous whereas, the reef edge tends to be heterolithic and have vertical barriers to flow. These…
Production performance in Keg River Pinnacle Reefs Displacement (original well in reef) Water Cut v Cumulative Oil Drive Initial Perforations : 100/15-23-114-06W6M 100 Generally, under primary production, the reefs were 90 produced…
Development history: horizontal wells In 2001 100/15-23 Sidetrack (05 Event) Produces 500 STB before watering out In 2014 102/15-23 Vertical Distance calculated for each grid block from Tests 1300 STB/D dry oil intersection of…
Phase 1B results (Oct 2014) Well and Objective Drilling Result Production Result 102/15-23 14m net oil pay Well flowed at over 1,300 STB/D on test. Waiting on delivery of separator package. 100/14-23 4m net oil pay Well swabbed 20…
Phase 1B 102/15-23-114-05W6 100/15-23 102/15-23 100/15-23 102/15-23 SLAVE POINT Top Keg River KEG RIVER Demonstrated un-swept oil at the reef edge and significant oil COLD LAKE deliverability 6th October 14 16
102/15-23 cross section with original wells New Well (102/15-23) Original Well (100/15-23) Original New Well Well New well encounters oil down dip from the top of the perforation in the original well Un-swept 32m…
102/15-23 flow test and performance Flow Period Start End Hours Oil Rate Water Rate Gas Rate Water Cut GOR Cumulative Oil Cumulative Water Cumulative Gas (h) (STB/D) (BBL/D) (MSCF/D) (fraction) (scf/STB) (STB) (BBL) (MSCF) Clean-Up…
102/15-23 production and pressure history 102/15-23 : Flow Test : Tubing Head Pressure 6000 5000 Tubing Head Pressure (kPag) 4000 3000 2000 1000 0 07/10/2014 07:12 07/10/2014 19:12 08/10/2014 07:12 08/10/2014…
102/15-23 rate comparison to other wells in Alberta Distribution of Oil Rates (Last 12 Months) of All Flowing Oil Wells in the Province of Alberta 1 0.9 0.8 Cumulative Frequency (Fraction) 0.7 0.6 0.5 0.4 0.3 0.2…
Phase 1B 100/14-23-114-05W6 14-23 100/15-23 100/15-23 SLAVE POINT 14-23 KEG RIVER Top Keg River Encountered poorly developed, but COLD LAKE oil saturated reservoir Completed for production 6th October 14 22
Keg River expression on the overlying Slave Point Pre-drill Post-drill Overlying Slave Point formation A thorough review of the 14-23 result has highlighted the importance of the muted expression of the Keg River structure on the…
Phase 1B 100/01-27-114-05W6 08-27 01-27 08-27 01-27 SLAVE POINT KEG RIVER Top Keg River COLD LAKE Encountered high quality reservoir, but swept by original producer 6th October 14 24
Well Results Phase 1A Well and Objective Drilling Result Production Result 14-22 Successfully re-entered Well on test 02/04/2014 Re-entry Up-hole zones cemented Produced over 3000 STB oil at an 14-22 average water cut of 63% Test for…
Virgo type curve and economics Update on assumptions Cost (US) IP rates are higher than originally planned Drill and complete 1.82m Equip and tie in 0.55m DCET costs should reduce with larger well Forecast production and reocvery…
Potential from existing land position Virgo notional development plan AER STOIIP and recovery factors suggest that there are at least 12 reefs with the capacity for a minimum of three additional wells minimum well recovery at 125…
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