umiat oil field update no 4, page-27

Legume

I think you meant to say that without proof of the ability to overcome technical production challenges nobody will fund commercial development of Umiat. It may take some experimentation to optimise the setup for the umiat permafrost environment, just like early UCG pioneers learnt some lessons along the way.

you will never ever know if you never ever go. Is it worth a go for a couple of hundred million barrels of light sweet crude? I would say yes, so long as the cost of development makes commercial sense. I think the Alaskan government is keen to get oil revenues from Umiat but Linc needs to de-risk the project by getting the drill techniques right.

At this stage of Linc cashflow i think they would be much better off with Wyoming EOR, but of course that will not be a zero risk project either. Umiat is a long term proposition that would forever remain a long term proposition until companies do the work to perfect the drilling and extraction method.