• Total of 8 wells in 2010-11• No commercially viable discovery• Expenses already exceeded exploratory

budget for 2010-2014

Potential

Potential: 5.3 bbo @ $300

NERI:” Icebergs from the two major glacial outlets in

this particular area, 79-Fjorden Glacier and Zacharie Glacier, are more like Arctic Ocean ice

islands”

Welcome to the Arctic