Brooks Range Spuds North Slope Prospect

Alaska's most active explorer, operator Brooks Range Petroleum Corporation (BRPC), has informed its parent company, AVCG LLC, and BRPC's joint venture participants TG World Energy Inc., and Ramshorn Investments, Inc. (collectively the "BRPC Group") that Nabors Alaska Drilling, Inc. Rig 16E has spud the Sak River #1A well on January 26, 2010.

The well is being drilled from an onshore ice pad to an offshore bottom hole location, once again demonstrating the BRPC Group's commitment to onshore exploration and development.

The suspended Sak River #1 well has been re-entered and a new hole will be drilled after the cement plug at the base of the surface casing set to 4,225 feet has been drilled-out. The well is expected to reach total depth of approximately 12,500 feet in early February. The Sak River #1A well will test an oil prospect on State of Alaska oil and gas lease ADL390431 which is located within the Beechey Point Unit.

The Sak River #1A well will test a Kuparuk formation exploration prospect identified by proprietary 3D seismic data. The prospect is located within the BRPC Group's Beechey Point Unit, which includes the undeveloped North Shore #1 and Pete's Wicked oil discoveries. A Sak River #1A discovery would likely be developed in conjunction with the existing oil discoveries.

After the completion of the Sak River #1A, Nabors Rig 16E will move (a mile and a half) south to drill the BRPC Group North Shore #3 well, testing an independent Sag River/Ivishak closure also located within the Beechey Point Unit.

Jim Winegarner, Vice President of Land and External Affairs for BRPC, said, "The BRPC Group appreciates those who have supported our progress on this project, including the State of Alaska for approving the Beechey Point Unit ("BPU"), the North Slope Borough for approving the BPU Rezone, and the major facility owners on the North Slope for access to existing infrastructure. Our exploration efforts this winter fulfill the first steps in our work commitment to the State of Alaska under the BPU plan of exploration."

The BRPC Group is also permitting a well known as the North Tarn #1 well. The North Tarn #1 well would be drilled on state lease ADL390680 located one (1) mile west of the western Kuparuk River Unit boundary. The North Tarn #1 well would be the third well on the drilling schedule for this winter’s exploration drilling season. If the North Tarn #1 well is not drilled this winter, the BRPC Group will plan to drill it during the 2011 winter exploration drilling season.

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