Labrador Resources Inc V.LTX

March MD&A This could be BIG REVENUE$ for LTX -READ YELLOW..

[Money2015]

Complete the Strategic Development of wellTriever

In late February 2015, the Corporation released a major rewrite of wellTriever (“wellTriever 2015) that included significant Map improvements, additional “map” reporting, and an interactive “viewer” for its Production History and Production Well Events reports. As a result, the Corporation experienced an immediate and significant increase in registered users. Direct revenue from transactions remains modest in the early going but there has been increased interest in licensing the Corporation’s eTriever product, primarily from the wellTriever account owners – eTriever is an excellent next step-up from wellTriever for customers who are looking for a more complete data retrieval and reporting solution.

With the rewrite of wellTriever, management is also seeing more market interest in licensing the wellTriever Map Web-Service that will enable the bringing together of the public data wellTriever currently accesses together with the customer’s proprietary data, using a common User Interface. Petro-LABTM, the

Corporation’s most successful product offered the same unique combination of accessing public and proprietary data with the same User Interface.

Although wellTriever requires additional development to attract new paying clients and augment the revenue from our existing clients, management can now draw on the feedback of an ever-increasing base of new customers to map out its continuing development pathway.

Market & License wellTriever MAP Web-Service

As noted above, the Corporation released its rewrite of wellTriever that included significant improvements to the wellTriever Map Web-Service. Accordingly, the Corporation has commenced discussions to license its Map Web-Service to customers looking to jointly access their own proprietary data and the public data wellTriever currently accesses. Although these discussions are preliminary, management continues to be optimistic about the revenue potential of this initiative.