Developing Energy for Yukoners

Substantially all of the company’s assets are situated in Yukon.  Northern Cross is the majority working interest owner and operator of three Significant Discovery Licenses (SDL’s) located in the Eagle Plain region of northern Yukon.  These SDL’s are a legacy of historical exploration drilling success that occurred primarily between 1959 and 1972.  There are a total of four suspended oil and/or natural gas wells on these properties.  In addition to the SDL’s, Northern Cross  is the 100% working interest owner and operator of 15 exploration permits located at Eagle Plain comprising about 1.3 million acres of oil and natural gas mineral rights.  These exploration permits have finite tenure and capital spending requirements to satisfy in order to continue land tenure.

In the late 1990’s, Northern Cross  undertook field work to evaluate the integrity and productive capability of three oil wells situated on SDL 22, also referred to as Chance. This work was performed to help understand the quantity and quality of the crude oil resources at Chance as part of a larger plan to potentially develop this resource to serve Yukon markets.  Poor economic conditions in the Yukon at the time and inconclusive results from the evaluation deferred the decision to proceed to development indefinitely.

More recently, based on capital spending commitments totalling over $20 million, the Yukon Government awarded 15 exploration permits to Northern Cross.  Northern Cross is currently at an advanced stage of preparing for a major exploration drilling program that is expected to commence during the summer of 2012.  Northern Cross expects to drill at least five wells during the first phase of this exploration program.  This initial exploration phase is expected to last until the spring of 2013.

Northern Cross expects to conduct its activities in a manner that is safe and environmentally responsible.  Equally important, Northern Cross has a code of conduct that requires honesty, inclusivity and acknowledgment of the diverse ethnic and cultural nature of the company and the region in which it operates.  Operations will be conducted to a standard that is in full compliance with Yukon regulations and laws.

Recent News