“Canada’s Last Frontier” The Central Mackenzie Valley Northwest Territories
“Historical Overview” IFR was the first junior to acquire acreage after the moratorium was lifted, we were responsible for promoting new exploration in the area. First farm-outs to Northrock (now Taqa), Berkley (Duvernay). Second farm-out to EOG Resources. Third farm-out to Husky Oil ~ current operator. Gross capital spent +/-$165 million for nine wells + seismic. Drilled 3 discovery wells and granted 2 Significant Discovery Licenses. Alongside Husky purchased EOG’s interest IFR – Husky acquired Taqa and Pacific Rodera’s interest in Stewart SDL.
Proposed pipeline 1. 2 BCF/D
CMV Summary Oil pipeline exists from Norman Wells to Alberta ~ available capacity +/-20,000 BOPD. Good source rocks exist in the CMV. Possibility exists to use new drilling and fracing technology to un-lock oil & gas potential in shale & tight rock reservoirs in the CMV. Eleven parcels posted for June 21, 2011 land sale, the postings cover an area of 2.2 million acres ~ stretching 448 miles north-south by 186 miles east-west. NEB has approved and granted a license to construct a gas pipeline with capacity of 1.2 BCF per day, the pipeline will tie-in gas from the Mackenzie Delta and CMV to Alberta. Industry players in the CMV include Suncor (3 SDL’s), MGM Energy (2 SDL’s) and Husky- IFR (2 SDL’s) Industry players in the Mackenzie Delta and Beaufort Sea include BP, Chevron, Exxon/Mobil, Imperial Oil, MGM and Shell. There are $2.8 billion in work commitments to be fulfilled in the area. IFR Lands SDL’s do not expire 2D seismic data base $65 million (gross), IFR net $7.5 million. IFR has identified 2 oil prospects and 1 gas-condensate prospect with significant resource exposure
CMV strategy is Post acreage that we postulate to be in the oil window Seek joint venture partners to acquire new acreage Leverage seismic data to obtain carried interests Monitor new plays that develop in the area Monitor developments on the gas pipeline
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