IFR Business Plan Some of these posts were making me nauseous. Let me quote Pat Boswell directly to clear the air:
"...our current business plan is to monetize our northern assets by way of a sale of our proven discoveries coupled with the potential of the Canol on our acreage. As you are probably aware we recently acquired a new exploration license at the Sept land sale. In our first round of exploration in the area we had shot a large regional aero-magnetic survey as well as 2D seismic. The interpretation of this data identified two conventional Cretaceous age prospects on the new license. We believe that the prospects are very similar to our Stewart Lake discovery in the Cretaceous Little Bear Sands. In addition the license is located due north of the Dahadinni well that Husky – IFR drilled – unfortunatley the well did not reach total depth but having said that the well did have some very encouraging hydrocarbon shows in the upper section – we believe that the source of these shows was probably from the Canol Shale. We had re-nominated the Dahadinni license but our bid was not successful as the license was awarded to Imperial 50% and Exxon 50% for a work program bid of $21.5 million. We can only assume that Imperial/Exxon are interested in evaluating the Devonian Shales (Canol/Bluefish) as well as possibly testing the conventional Devonian prospects that we were chasing when we drilled the Dahadinni wells. It is worthy to note that we own a freehold parcel Husky – 75% IFR – 25% that is situated within Imperial/Exxons license EL-472. If Imperial/Exxon drill a successful well on the license then our recently acquired license is very promising."