Athabasca Viking/Grand Rapids/Nisku Technical ... - Oil Reserve Inc.

Additional details regarding the stochastic analysis are included within the Tables section of the report.
Additional well logs, core data and seismic data would be useful to further delineate the geology and
increase certainty for some parameters. Further to that, a pilot program and development of an
appropriate enhanced recovery scheme is necessary.
Cautionary statements
The range of estimated undiscovered PIIP has not been adjusted for risk based on the chance of
development. There is no certainty that pools will be developed or, if they are developed, there is no
certainty as to the timing of such development.
The effect of gas and possible water zones on any particular recovery scheme in will not likely be known
until pilot testing is underway or completed. Any possible bitumen recovery on ORI leases would not
necessarily be economically feasible.
The wide ranges of parameters and volumes in the Nisku evaluation are a direct result of numerous
uncertainties including the lack of well log control to the base of the target interval and uncertainty due to
geological heterogeneity observed in this and other bituminous carbonate pools globally. The efficiency
of any enhanced recovery scheme is unknown in carbonates such as the Nisku.
© Deloitte & Touche LLP and affiliated entities.