Ann: Investor Presentation, page-34

SpinnZ..

If yukon 3d indicates good technical conditions, i think that theyll have to give away half or so for couple appraisal wells and to get to bankable feasibility freecarried..
so for that one i say 50mmbo ruff minimum at end.. which may end up sooner than we think..
We have no idea about possible upside from 3d..

Western (aka horseshoe) block.. if success, then GB will back in.. so 88e left with 110 to 115 mmbo or so.. there is scope for double due to high case usually 50%+ higher than Mean case as well as a potential extra 50% on that if the anomaly extends into the non-seismicked area..
But lets leave it at 110mmbo.. maybe needing one more appraisal well to bring up to decent saleable level (circa $7/barrel price)..

Icewine western acreage.. 30% net of the 1170mmbo potential from 2 wells (stellar etal and bravo etal) giving about 350mmbo or so to 88e.. again Mean case.. and would probably also need a few more appraisals in total to bring up to decent saleable level..

Hrz is now 0.8 to 2bill on 271kacres.. for 475kacres, thats 1.4 to 3.5bill.. i believe this to be Mean case.. not high case.. and there are thicker hrz wings in areas of acreage.. but lets leave it at 1.4 to 3.5bill.. at final net 30% to 88e then thatd be about 420mmbo to about 1.05bill net to 88e...

Realistically.. into summer of 2019.. in the bag ?
Yukon = yes, if 3d shows the goods.. so 50mmbo+ or so net post farmout (but thats already a discovery )
Western block = yes, circa 110mmbo net to 88e with upside..
Western Icewine = yes, at least the stellar etal drill for possibly 30% net to 88e post farmout or about 250mmbo Mean, if it goes well..

So a total of about 400mmbo net to 88e of discovered conventional..
Maybe not at levels to already fetch 7bucks per barrel.. but even at about 3bucks per barrel, thatll be a very very nice level for market cap. value

Ice2 horizontal could then be drilled in summer time..