Unlocking the Sturgeon Lake Duvernay

A material oil-window Duvernay opportunity supported by operator-derived data, technical analysis, and one of the largest undeveloped positions in the Sturgeon Lake Pool.

Smart Oil, Bold Future

Emergin' Sturgeon

B-32 Exploration offers exposure to a material Duvernay oil opportunity from its strategic position in the Sturgeon Lake Basin. Located at the northern reach of the 600 km Duvernay oil trend and adjacent to the established Kaybob development fairway, Sturgeon Lake shares many of the reservoir characteristics that have made the Duvernay one of Canada’s most important unconventional oil plays.

To date, 13 horizontal wells have been drilled into the pool, establishing a light, sweet, over-pressured oil system with approximately 41° API gravity oil. B-32’s technical work supports an estimated 3 billion barrels of original oil in place, with consistent net pay exceeding 15 metres across a substantial land position.

B-32 controls over 200 sections of Crown land, representing more than 50% of the pool’s surface area. This position supports a high-quality drilling inventory of over 300 locations and the potential for scalable full-field development exceeding 20,000 barrels per day.

Still early in its development cycle, Sturgeon Lake offers a rare combination of scale, technical maturity, and remaining development runway. With a focused private structure and deep operating knowledge of the pool, B-32 is positioned to pursue strategic partnerships aligned around disciplined growth and long-term value creation.

Emerging basin. Material scale. Technical upside.

That’s the Emergin’ Sturgeon.

About B-32 Exploration

B-32 Exploration is a privately held energy company headquartered in Calgary, Alberta, focused on advancing the Sturgeon Lake Duvernay light oil fairway.

The company controls over 200 sections, or 125,000 acres, of Crown land with more than 300 potential drilling locations. Thirteen horizontal Duvernay wells drilled by two independent operators have confirmed an oil-bearing reservoir system and established a meaningful technical foundation for future development.

B-32’s work integrates geology, reservoir engineering, completions, production history, and operating practices to better understand the drivers of well performance across the fairway. This technical approach supports the company’s view that Sturgeon Lake represents a scalable Duvernay light oil development opportunity.

Led by an experienced board and management team, B-32 is positioned to advance a large, de-risked resource position with discipline, technical focus, and long-term development potential.