RE: RE: News: Oh well Bye bay MV holdings ...Positive. It means the government is interested in continued exploration of Central MV basin. The area is about half way up the projected MVP and I suspect that a partial pipeline up to CMV can be build at a better cost structure then the complete MVP to the arctic region. The gas from the are can be used to aird in processing of oil sands in Alberta. If you notice on the Web Page form Indian and Northern Affairs Canada the last two cycles of bidding were won by MGM Energy. They accumulated a large position in the are at not a great cost (see "wining bids"). IFR is in fiscal position to secure additional area especially that it seems that they know what areas are prospective in the package:
Commenting on this year's land sale the Company said, "In the last decade there have been 14 wells drilled on the west side of the Mackenzie River, IFR has participated in 9 of the wells. Of the 9 wells drilled 3 wells encountered commercial hydrocarbons and 2 wells encountered encouraging hydrocarbon shows. Based on proprietary well, seismic and aeromag data the Company has identified a significant number of undrilled prospects, some of which sit within the oil window and others are within the gas window. The areas nominated at this year's CMV Call for Bids cover the majority of these prospects."