ASX Today, page-8726

The new pad scenario with 4 horizontal wells and a gas re-injection well, would be a 'pre-pilot production' facility and I could only see that progressing under a farmout (unless we had a magnificent and sustained SP reaction to 2V results). In addition to the wells, some thought/time/investment would also need to be devoted to how to get the pilot production oil to market - pipe or truck. Given that all the work associated with this can be done year round, work could start on this immediately on farmout, pending permitting.

Under a non-farmout scenario, 2H could be drilled as soon as they are ready, though I suspect they would wait till year end and completion of production profile assessment of 2V.

As for the additional 'V' wells for conventional testing and HRZ delineation.....we know how quickly Arctic Fox can drill, so we could get 2-3 in a drilling season. Though the caveat here would be the time/cost of building ice roads to these 2-3 drill sites.

All IMO only.