Update from the Field – Great Bear
Petroleum’s Drilling Program and
Upcoming Activities
Speaker:
Ed Duncan – President, Great Bear Petroleum
July 31, 2012
Anchorage Marriott Downtown
Contents
“Update from the Field – Great Bear Petroleum’s Drilling Program and Upcoming
Activities”
....................................................................................................... A
Biographies ................................................................................................. B

Ed Duncan
K&L Gates LLP
“K&L Gates Alaska Shale Conference”
July 31st 2012
INTRODUCTION
Disclaimer
• Great Bear Petroleum Operating LLC (the ”Company”) has prepared this presentation for the sole purpose of providing background, strategic, and other information to inform interested parties of the business activities and objectives of the Company. It is not intended as an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities.
• This presentation and its contents is made available in solely for use at the K&L Gates Alaska Shale Conference for review by the attendees at such conference and may not be reproduced or disclosed to third parties or made public in any way without the prior
express written permission of the Company.
• The Company and its respective managers, members, officers, employees or agents do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and such parties do not accept any liability for any statement made in, or omitted from, this presentation.
• Before acting in reliance on any information contained in this presentation, such parties should conduct their own investigation and analysis in relation to the Company and its operations and should check the accuracy, reliability and completeness of the information contained in this presentation and obtain independent and specific advice from appropriate professional advisers. This presentation does not purport to be an exhaustive compilation of the information presented or that a prospective investor may require.
• This presentation contains forward ‐looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U. S. Securities Exchange Act of 1934, as amended. These forward ‐looking statements are based on management's expectations, estimates, projections and assumptions. These forward ‐looking statements include, but are not limited to, the plans, objectives and projections of the Company’s management for future operations, performance, business strategy, budgets, financial position, costs, production, and potential revenues. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Actual future results and trends may differ materially from what is forecast in forward ‐looking statements due to a variety of factors.
• All forward‐looking statements speak only as of the date of this presentation or, in the case of any document referenced, the date of that document. All subsequent written and oral forward ‐looking statements attributable to the Company or any person acting on the Company's behalf are qualified by the cautionary statements in this section. The Company does not undertake any obligation to update or revise its forward ‐looking statements to reflect events, circumstances or changes in expectations after the date of this presentation.
2
UNCONVENTIONAL RESOURCES
A Global Game Changer
Source: Energy Technology Systems Analysis Program (May 2010)
3
GREAT BEAR’S LEASE POSITION
Reestablishing Alaska’s Energy Prominence
Through Responsible Resource Development
MapMakers Alaska 2012
4
NORTH ALASKAN TECHNICAL CASE
Initial Focus Area
FOCUS AREA
Modified from Kelly et al, 2007
5
NORTH ALASKAN TECHNICAL CASE
Central North Slope Seismic Transect
West
Public Seismic Line ARCO 80‐07 & 80‐06
Total Length ~120km
East
• Hue/HRZ @ ~8,000 – 13,000 ft depth
• Shublik + Lower Kingak @ ~10,000 ft depth
Source: Alaska Department of Natural Resources, Division of Oil and Gas
6
PetroMod Petroleum Systems Basin
Evaluation: Shale Oil Fairway Mapping Project
SCHLUMBERGER INFORMATION
SOLUTIONS
7
NORTH SLOPE TECHNICAL CASE
Shublik Outcrop
8
Focused Super LIDAR and Hyperspectral Imaging project to support environmental studies and development planning
3-D
Seismic
Great Bear Petroleum Operating
LLC
9
Alcor 1
Merak 1
Mizar 1
Megrez 1
Duhbe 1
Alioth 1
Regional line extracted from Great Bear 2012 3-D
10
10
Operations Update
11
A STAGED APPROACH TO
DEVELOPMENT
Planning for Success and Participating in
Securing Alaska’s Future
2012 2014
2013
2015
2016+
Phase 1
Phase 2
Phase 3
Proof of Concept
(Data Collection and Play Tests)
Pilot Production
(Mobile Processing Module Approach)
Full Development
(Production Ramp‐Up)
Gravel pad (up to 24 wells)
Up to 2 production modules (5,000 to 10,000 BOPD each)
Create Development Corridor
8 pads (up to 192 wells)
1 Central Processing Unit
Facilities (drill slots, yard piping)
Pipeline to PS1
Pump station tie‐in
Power
Gas compression
Tanks
Water disposal
Road
Tactical growth east and west from initial Development Corridor
Vertical wells
with horizontal sections Vertical wells to be drilled to Shublik, cored through all 3 main shales
Multistage frac tests are planned
Targeting 1 new
Development corridor per year
12
Ed Duncan
President and Chief Executive Officer
Great Bear Petroleum Operating LLC
Ed began his career working North Alaska regional exploration plays 30 years ago. During those early
years, the team mapped, leased and named the Kuvlum prospect in Camden Bay, lead the technical
evaluation of the Artic National Wildlife Reserve, planned and managed wellsite operations for Sohio
Petroleum on the Kaktovik-1 well in the ANWR, mapped and leased the Pt McIntyre field leases in
1985, and conducted regional source rock sampling and mapping across the Brooks Range outcrop
belt.
Ed's 30 year career as a Petroleum Geoscientist and Business Development Manager has been global
in scope and has provided opportunities to evaluate new business across many of the world’s
petroleum provinces. Ed has extensive experience in full cycle commercial evaluations and has
managed new country entries, basin, play and prospect scale evaluations around the world.
Ed and his wife, Attorney Karen Bryant Duncan, co-founded Great Bear in 2010. Great Bear is a private
company focused on the exploration for, and the sustainable development and production of,
unconventional resources on the North Slope of Alaska, with a particular focus on shale based oil and
natural gas liquids. Having secured approximately 500,000 acres, Great Bear has established a
dominant position in the heart of the unconventional play fairway south of the Kuparuk and Prudhoe
Bay fields.
Ed possesses a Bachelors and Masters Degree in Geological Sciences from The University of Texas at
Austin. He also holds a Doctorate in Business Administration (Bedford University). He is an active
member of the Geological Sciences Advisory Council at The University of Texas at Austin, the
American Association of Petroleum Geologists, the Society of Exploration Geophysics and the
European Association of Geoscientists and Engineers.
K&L Gates LLP