Ann: Operations Update, page-17

regime87,

As per the Winx drilling schedule, they will drill down to about 6500ft, this point is called TD(total depth) and should take until about March 5th.

They then log the well with some fancy equipment on a wire, which when drawn back up takes a heap of measurements to identify all the different formation attributes.

They use this log to identify the best target. They then isolate that zone from above and below and perforate the steel casing of the well.

They will frac it and attempt to flow back any hydrocarbons from the zone by removing the packer above.

The aim is to measure the rate of any flow and use this to extrapolate what the target zone contains.

As they are drilling on an ice pad, accessed by an ice road they need to have all the above works completed before the ice begins to thaw, as they cannot be on the Tundra then.

The schedule states April 7, to either suspend or plug and abandon.

Suspend means they have achieved something good and they will shut off the valve below the permafrost and fill the top part with diesel (most likely) so it can be accessed again in the future.

Plug and abandon, is not something we want to hear but means they have not achieved anything meaningful and will fill with concrete.

The permit does not allow for any production and there is not currently any infrastructure to tie directly into.

Hope this long winded explanation has kind of answered your question.

Cheers