Ann: Operations Update - Key Permits Granted, page-13

pannaman, the current Operations Permit does not cover a second well.

Neither does the budget.

The well will be designed and permitted in accordance with an application for a Permit to Drill (PTD) from the Alaska Oil and Gas Conservation
Commission (AOGCC). The well may be tested and hydraulically stimulated/flow tested, and may include laterals, sidetracks, or additional penetrations from the
same exploration wellbore as allowed as per Sundry Approvals by AOGCC. Operations also may include wireline logging and related seismic surveys, such as
vertical seismic profiles (VSPs). The well will either be plugged and abandoned (P&A) or suspended pursuant to AOGCC regulations prior to demobilization.

Cheers