There is going to be no production in the foreseeable future - 5 years or more. They have got only 1 of a number of elements required for a successful shale play - need right fracture potential (geomechanics) and lithology, some permeability etc. Also if you haven't notice that the shale play everywhere else in the world is in the process of being abandoned because it is now uneconomic due to the need for $60 oil.
Re the conventional potential, this seems to be a bit of a beat-up. Not aware of any structures that they are seeking to firm-up.
Ann: Icewine 1 Core Evaluation Update, page-25
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