Little Chicago - Gross 201,160 acre Exploration License - North West Territories (Grandview Hills),

• Kodiak has acquired 50% working interest via the Thunder River Acquisition

• Kodiak is the operator for this project and is the largest working interest partner in the property going forward

• Processed 50 km of existing seismic Q4 2006

• Acquired 84 km High Quality seismic resulting in 6.25% additional working interest

• Kodiak has a total of 56.25% working interest

• Kodiak negotiated Joint Management Agreements, Benefits Agreements and Land Use Agreements in a very short time period, via consultations with Beneficiaries of the Land Claims, Traditional Knowledge studies, and Environmental Studies

• Negotiated local work contracts as much as possible

Click to enlarge

Click to enlarge

• 2007 -- Kodiak reprocessed 50 km of pre-existing 2D seismic, shot an additional 84 km

• 2008 -- shot an additional 34 km -- all completed on budget, on schedule

• 13 shallow drill targets identified

• 3 secondary medium depth targets identified

• Massive structures clearly identified on seismic and through gravity studies

• Substantial closure, excellent source and reservoir characteristics

NI 51-101 Prospective Resource Study by Chapman Engineering, August 2007

• Three potential zones identified:

  • Devonian Bear Rock Prospect

  • Basal Cambrian Sand / Top Precambrian Prospect

  • Canol Prospect

• Chapman recommended Kodiak proceed with the work program -- addition seismic 2008 followed up by drilling program 2009

• Deeper, large structure is indicated at 4,500 meter range -- has not been considered in the evaluation

• No consideration given to infill drilling, enhanced recovery or solution gas conservation

Management Discussion of EL 413 ("Little Chicago") - July 2008

Chapman Engineering Evaluation of Prospective Resources - Little Chicago 2008

Access and Cutlines for Grandview Hills-Little Chicago EL413 Seismic Program (PDF, 5.2MB)

Second Progress Report - Analysis of Surface and Seismic Data - Grandview Hills Area, NWT (PDF, 456KB)

Shallow Depth Prospects - Lower Mackenzie River Area, NWT (PDF, 1.25MB)

Title of second - Exploration Licenses in NWT (PDF, 1.81MB)

NWT photos

Chapman Engineering Report - 2007 (PDF, 9.2MB)

Management Discussion of EL 413 & the Chapman Engineering Report - 2007 (PDF, 194kb)

Chapman Engineering Report - 2005 (PDF, 6.6MB)