Drakkar has a 100% working interest (“WI”) in 117 sections (74,880 acres) of oil sands leases, with a 15 year primary term, in the Peace River area.  The company is simultaneously advancing two large bitumen projects on its lands, known as North Star and Driftwood, which are prospective for carbonate cold flow and thermal development.

Drakkar has drilled and cored two evaluation test wells and has obtained an independent resource estimate of 6.53 billion barrels (“Bbbls”) of original oil in place ("OOIP") on its lands.  Drakkar has also completed a geotechnical study and acquired and interpreted seismic data over its Driftwood Project area.

With an experienced Board of Directors and Management group, Drakkar has been operating with cash flow provided from conventional oil production, cash-in-hand and no debt.