Mustang Project - North Slope Alaska

Advanced Development Project

  • Mustang #1 well (Q2 2012) successfully targeted Kuparuk Sands
  • Kuparuk Sands have produced over 2.9 billion BO on the North Slope
  • First oil in Q2 2016
  • Targeting 15,000 BOPD (100%)
  • Material Working Interest - 38.2% WI - Cashflow impact
  • ANS crude pricing ~5% premium to WTI
  • 10.8 MMBO in Proven Reserves (1P) - Independently certified
  • 19.8 MMBO in Proven & Probable Reserves (2P) - Independently certified
Since 1981, more than 17 billion barrels of oil have been
produced from Alaska’s North Slope wells.

Southern Miluveach Unit - Mustang Project

  • Mustang consists of 8,960 net developable acres with 27,000+ adjacent prospective acres
  • An all-weather gravel road, production pad and a State of Alaska approved development plan is in place
  • USD$81m has been invested in an all-weather road, development pad, seismic and appraisal drilling by prior owners
  • The Kuparuk River Unit, adjacent to the Mustang field, is the second largest oil pool in North America and has produced 2.9 billion Bbls since 1982
  • In the last 35 years, 17 billion Bbls produced on Alaska’s North Slope
  • The Kuparuk-2M drillpad adjacent to Mustang and in the same field. The reservoir has produced 77 million Bbls since 1992