Hey Fri,
You're not the only one that feels like they are missing something.
To date the info released around this potential summer drilling program has been mostly just a throw away line in a couple of news releases.
There are no permanent roads to Umiat, although extensive studies have been done into the construction of a service road. So I'm unsure what the company are alluding to. The physical drilling can occur during summer from gravel pads and crew requirements are serviced by gravel access roads. There is a broad network of these across the North Slope but not too Umiat.
Many companies have held leases in this area, ConocoPhillips, Chevron, Anadarko, FEX, Renaissance, Linc Energy(Aus)......
It was Linc Energy that 2 years in a row built 100 miles of ice road to access their leases at Umiat, unfortunately Linc are no longer with us.
Many companies have been lured to the Umiat area by the prospect of shallow oil, only to have walked away. XCD may be lucky but the work in Alaska is expensive and mostly seasonal, so I'm not filled with confidence.
Originally my interest in the company, which was formerly Entek which was spun out of Elixir, was because of Dave Wall(88e) who is one of the largest shareholders.
Hope you're well
Cheers
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