latest article dtd oct 8,2013 on north slope fracking by greatbearpetroleum........link
google search " juneauempire/company sees promise in Alaska shale oil"
associated press interviews geologist ed Duncan head of grreatbearpetroleum who states that a review of the seismic 3-D data confirms a promising new oil source south of Prudhoe bay............ this great bear acreage is along the transalaskan pipeline and next to royale energy north slope acreage.
article seems to me to indicate, that great bear will not be drilling this winter 2013 but rather will be planning its further developmental drilling and all aspects that go along with such........and perhaps drilling commences in latter part of 2014.
article is not heavily laden with facts but its the latest statement from greatbear on northslope acreage adjacent to the royale corp acreage. fwiw.
In that article, Duncan said the company has spent $100mil so far. With the leasehold being cheap and only two exploratory wells along a highway, I would assume that at least $80mil of that has been spent on G&G. This is a fair amount of cash for a private E&P company. I have to believe that ownership is getting anxious for an IPO, but G&G data alone wouldn't sell on Wall ST.
ed Duncan is probably amongst the foremost experts on the planet, in role of geologist, as far as the Alaskan north slope acreage is concerned. and when ed Duncan spends 100 mill dollars he is asserting his conviction that he is sitting on economically feasible recovery of black gold/texas tea :))
in that article, ed Duncan basically says what I just posted. he says the oil with todays technology is recoverable. he said first he would likely truck his oil to Prudhoe bay for delivery and eventually have a link directly into the transalaskan pipeline. additional point; the state of Alaska will do backflips to help these oil corps develop the north slope. this is a big plus. I also point out that the recent tax incentives for developing the oil projects upon the north slope are faced with Alaskan citizen petitions objecting to the largesse of the tax breaks given, by law, to these oil companies. but right now it is settled law in Alaska.
I would also reiterate that the new AK law, has a provision allowing for the state and the oil company holding the lease, to agree to a one time renewal of the leased acreage (based on certain conditions & considerations that show oil company progress towards actual development as well as based upon state of ak perceiving such actions as moving towards actual oil/gas extraction)(this last parag is written per my recollection only ).