I have been watching IFR with interest for a couple of years. I have also been watching ROYL. Not sure what folks see in either. Perhaps you could give me some insight. Here are my thoughts:
- IFR lands in NWT are marginal at best. Their oil discoveryin the NWT iat Summit is too small to be economic. It is over 150 km from the Enbridge pipeline. As for Canol and Bluefish shale, the lands are marginal. That is why Husky didn't posted any land around the IFR acreage. Husky also didn't choose to re-enter the joint IFR/Husky wells to test the Canol. This would have been relatively cheap to do. The reason is that the IFR Canol is in the gas window, not the oil window. As for Montana and S. Alberta, the shale resources there are marginal. I am willing to be convinced otherwise, but it doesn't look encouraging to me.
- ROYL smells to me. The company controlling the Alaska shale play is Great Bear and they are private. They didn't test their wells after making all sorts of noise about how good the cores are. Not testing the wells when you have a rig on the hole is cheap and very valuable information. They made some excuse about the labratory delays. That is BS. The big-very big- problem with Alaska is the fiscal regime. It is punative and that is why the big boys are not there. Not only is there are large royalty there is a profits tax which amounts in total to 55%. Then there is state and federal taxes.
I admire IFR wildcatting spirit, but don't see too much of future for it even in the long term. Would be glad to have some insights into IFR and ROYL to change my mind.