Operations Figure Lake

Exploration success spurring active delineation

Rubellite has accumulated close to 85 sections of land prospective for the Clearwater play in the Figure Lake area. A Q3 2021 four-well exploratory drilling program was designed to establish base heavy oil production, evaluate reservoir and oil quality across the property and refine type curves. Encouraging results from the two multi-lateral wells at the south end of the property drove follow-up development drilling activities in late 2021 and early 2022.

Rubellite envisions approximately 150 development/ step-out locations on its extensive Figure Lake land position, with additional exploratory potential identified. Concentrated operations, excellent road infrastructure and adequate solution gas to fuel operations result in low operating costs. Rubellite has a 100% working interest at Figure Lake.