Calm before storm, page-2

Managing Director David Wall said the recent rights issue which had boosted the company’s cash reserves by $13 million, a drilling update before the end of the year and the strong possibility of a farm-out deal on its Icewine conventional project, had placed the company in a very good position.

“After four years of hard work, we hope that 2019 will be the year we’ll be able to capitalise on that and prove to our investors that we have created value through a discovery or doing a really good farm-out deal,” he told Hot Copper.

“We came into Alaska for the shale play, which is ongoing, but the potential of the conventional play has probably overtaken the shale play. In addition to the original acreage, we’ve picked up new leases, the Yukon leases have a prospective oil resource of 80-100 million barrels of oil .