Vista Extension Property

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Coalspur has a 100% interest in the Vista Extension Property which the was purchased from Nexen at the end of March 2012, with the transfer taking palce May 8, 2012. The extension contains the down-dip continuation of the same geology as the main Vista Coal Project, with the primary seams of interest being the Val d'Or and McPherson seams. The initial reserve estimates for the project are 6.5 Mt measured and 167.2 Mt Indicated, and a inferred resource of 969.3 Mt.

Canadian Occidental Petroleum Ltd. (the predecessor of Nexen Inc.) and Irving Industries (Irving Wire Products Division) Ltd., in a 50/50 partnership, agreed to have Halferdahl drill two core holes in 1978 on what they called the Corral Creek Property, and prepare a report. Subsequently, in 1981, they contracted Canadian Island Creek Coal Ltd. (Red Deer) to drill a proposed 11-hole, including two diamond core holes, programme to further delineate the resources. The programme encountered extremely difficult drilling conditions, changed drilling contractors between each hole, and did not achieve its objectives. It was ultimately successful in drilling only two holes and taking two cores in four locations. None of the cores were used for quality modelling in the current exercise. These holes are the only six drilled with the specific intent of exploring the Coal Resources within this lease area. There are other wells that penetrate the coal strata but continue onto the gas-bearing horizons below. Irving Industries (Irving Wire Products Division) Ltd. maintained its share until May 2005, at which time it surrendered its working interest to Nexen Inc. Nexen Inc., in turn, sold its interest to Coalspur at the end of March 2012, and the transfer occurred on May 8, 2012.