Arctic Hunter Energy Inc. announced that Trinidad Drilling Ltd. has been appointed to drill the one test well by early July. The company has secured Trinidad drill Rig #63 to perform the drilling of the new well. Under the amended well option agreement (May 29, 2014), Arctic Hunter has agreed to participate with Petrocapita (Farmor) in drilling the one test well by July 2014.

Under the agreement, Arctic Hunter (Farmee) must pay 50% of Petrocapita's share of the cost to drill, complete and fully equip or abandon the test well to earn a 30% net interest. The farmout test well which has been licensed, will be a vertical well and it is expected to be spudded within the next 10 days. Pending the success of the first heavy oil well, the Company may seek to participate in an additional heavy oil drilling program with Petrocapita in the greater Lloydminster region of Alberta &Saskatchewan in 2014.

Petrocapita will be the operator of the new test well. The farmout test well is located near Lloydminster, Alberta. Drilling completion and equipping costs are expected to average $500,000 for the well ($250,000 net to Arctic Hunter).

The Company will be targeting the McLaren, Sparky and General Petroleum formation zones and the well is expected to be spud in early July 2014 subject to dry weather.