RE: Some big weeks ahead!!!10 Jun 2026 21:56
Looking ahead, we remain focused on executing our exploration program. Key upcoming milestones include:
Meeting with the community in Ittoqqortoormiit as part of the process of community engagement and feedback this week.
Procurement and field readiness: Continued advancement of casing, tubing, mill capacity for long-lead materials, road/pad construction planning, and equipment mobilization throughout 2026.
Drilling campaign: Targeting the commencement of our first modern onshore drilling operations in the October 2026 window, beginning with the OPW-1 and OPW-6 exploration wells (approximately 3,500 meters each). Successful completion of these wells would allow us to earn up to a 70% working interest in the license area.
Resource potential: We are targeting multiple large structures in a basin with independent estimates of up to ~13.0 billion barrels of gross un-risked prospective oil resources, supported by historical seismic data and over $275 million in prior industry investment (inflation-adjusted).