Ann: Icewine 2 - Update, page-87

It would be good to clarify early exactly what the benchmark for flow rates will be. We understand that 100 to 150 barrels per day is a good result indicating a commercial find, but at what stage, IP 30 would be the norm

IP R The first days of production, whilst flow rates are restricted to prevent proppant displacement

IP The first 24 hrs production with unrestricted flow

IP 30 the first 30 days production average

I would hope for all three but IP30 with the associated decline rate curve is the most useful in assigning value. Given that the permit timeline only plans 30 days of testing I would expect it to over run by sufficient time to give an unrestricted IP 30