BRPC Preps North Slope Well for Production Flow Test

Brooks Range Petroleum Corporation (BRPC), as operator, has been instructed by its parent company, AVCG LLC, and BRPC's joint venture participants TG World Energy Inc., and Ramshorn Investments, Inc. (collectively the "BRPC Group"), to set casing and conduct a production flow test on the Sak River #1A well.

The Sak River #1A well is being drilled by Nabors Alaska Drilling, Inc. Rig 16E and is located within the Beechey Point Unit ("BPU") where the JV has two existing undeveloped oil discoveries. The well is being drilled from an onshore ice pad to bottom hole location more than a mile and half offshore beneath Gwydyr Bay.

BRPC has informed the BRPC Group that the Sak River #1A exploration well reached a total measured drill depth of 12,726 feet (9,350 feet subsea on a true vertical depth basis ("tvd"), stopping within the Miluveach formation. Porous sandstones with hydrocarbon shows were encountered in sandstones of the Kuparuk formation at a depth of approximately 8,900 feet subsea tvd. Because the Modular Formation Dynamics Tester ("MDT") tool failed to recover a reservoir sample due to a tool failure, BRPC recommended the well be cased and production tested for reservoir fluids/rates from the potential oil pay zone. Test results will be released when testing operations are completed.