RE: Upcoming Presentation3 Sep 2018 12:07
The summary contents of the Presentation on 3rd August were as clear as crystal!:
Project Icewine: Unconventional - HRZ
• De-risked by two wells with results to date encouraging and consistent with early
stage results from other successful plays
• Farm-out process underway to fund further appraisal
Project Icewine: Conventional
• Interim 3D seismic interpretation led to large upgrade to conventional portfolio
• Multiple leads promoted to drillable prospects
• Farm-out process underway to progress exploration and appraisal program
• Permitting in place to drill 1H2019
Yukon Gold: Existing Oil Field Discovery
• Low cost acquisition of existing oil discovery, close to infrastructure –assessment
underway based on recently acquired 3D seismic (April 2018)
Western Blocks
• 400 MMBO prospective resource, gross mean unrisked, 3D seismic defined
prospect in successful Nanushuk Play
• Drilling scheduled for 1Q2019 – covered by current cash position
The underlying thread for HRZ and Conventional is:
Farm-out process formally commenced for conventional and unconventional opportunities
Posters have been kind enough deliver articles regarding a resurgence in NSA activities and asset potential - maybe it's time for 88E to stand up and receive recognition for all of the hard work that DW and PB have put into these projects. The latest good news being 500M extra barrels of Conventional from 3D survey, and the Western Blocks agreement with GB/Otto/RMP which may deliver 120M barrels for a net cosy of $6M.
Whatever the 14th brings, let's hope that it kicks the SP up the backside.
Good luck all!