Ann: Operations Update - Interim Results from Drilling, page-189

Good news
Highlights: Winx-1• Primary Nanushuk targets (topsets) intersected between 4,667’ and 4,901’o Elevated mud gas (C1-C5) associated with oil shows and increase in LWD (LoggingWhile Drilling) resistivity recorded within intervalo Initial interpretation encouraging based on comparison to data from nearby successfulNanushuk well• Previously reported Upper Nanushuk Formation interval (4,460’-4,530’) remains the subject offurther analysis• The Torok Topset Sequence 4 (secondary target) was intersected at 6,052’ with elevated mudgas readings (C1-C5), oil shows and an increase in LWD resistivity recorded• On reaching Total Depth a comprehensive wireline logging program will be implemented tofurther evaluate all the Nanushuk / Torok zones of interest and determine whether to proceedwith production testing