The Company believes that Arcticneft has significant potential to increase production, reduce costs and improve reserve recovery factors. To increase the rate of production, a well optimisation programme is planned, which includes the installation of downhole pumps in wells producing without the aid of artificial lift, and lowering the depth and increasing the stroke rate of existing downhole pumps where possible.

The Company also believes that there is potential for additional well productivity through reservoir stimulation. In addition, the Company believes there may exist certain non-completed oil-bearing horizons that have never been fully evaluated or tested.