Icewine HRZ

please note readers should be aware that not all statements may be factual or correct, please verify and research independently where possible.

Rig Contract Executed, Project Icewine Lease Rationalisation


"HRZ Thermal Maturity – Peak Oil Generation Window
Measurements taken from both core and cuttings have confirmed that the HRZ shale at the Charlie-1
location has a vitrinite reflectance value of 0.9 (VRo %), which is within the peak oil generation window.
This was also confirmed by isotope analysis of mud gases recovered whilst drilling. The confirmation
of the thermal maturity model is very encouraging and further work is ongoing regarding producibility
of the shale"

Investor Presentation - July 2020


Project Icewine Unconventional: advanced FIB-SEM* and HAWK** analysis significantly advances understanding of HRZ shale play

Majority of acreage remains within revised prospectivity fairway

Additional application of FIB-SEM underway to validate fairway revision

Franklin Bluffs (Icewine#2 location) considered to be marginally outside revised fairway

Formal farm-out process deferred to 2H 2019 - soft farm-out underway with continued third party interest

Focused ion beam scanning electron microscope, **hydrocarbon analyser with kinetics - Oil & Gas Education page

Icewine#2V 2017

Icewine#2 Overview –Spud Early Q2 2017
•Single stage, multi-perforation cluster stimulation and production test over 160’ interval (HRZ and basal Hue Shale)
•Estimated 30-45 days to drill, log and conduct micro stimulation
•Main stimulation will then be refined over 1-2 week period before execution
•Flow test results expected mid 2017 (late June - July)
•All major permits secured as planned
•Permit To Drill being finalised & on track
•Well cost estimated at US$17.7m* (net US$14m)
•88E funded from current cash position (US$20m) for Icewine#2
•Franklin Bluffs Pad location –year round access via Dalton Highway


please note readers should be aware that not all statements may be factual or correct, please verify and research independently where possible.

31/01/18 Investor Presentation

Icewine#1 2016: Oil samples extracted from HRZ core

(Click image to enlarge)



Icewine#1 2015

Kuukpik Drilling LLC selected for Icewine#1 Q42015


Icewine#2 Q1-17

The primary goal of the Icewine #1 exploration well is to derisk a potentially world class unconventional oil exploration play in the HRZ shale horizon that,
if successful, could yield over a billion barrels of recoverable oil across the
Project Icewine acreage, based on internal modelling. Further details on the drilling and evaluation schedule will be released on

Spud commenced 22nd October, 2015 at 17:45 hrs AK time.
Drill Contractor Kuukpik Drilling LLC

Spud Finished 24th December, 2015

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