History

North Peace Energy Inc. was established as a private company in December of 2005 with the acquisition of a number of oil sands leases in the Peace River Arch area. These initial purchases were supplemented by additional purchases in the area during February, March, and June of 2006.

The latter half of 2006 saw the company completing necessary requirements to begin operations. Operatorship was obtained from the joint venture partner, office space was secured in downtown Calgary, and a technical and corporate team was assembled.

In Q1 2007, North Peace Energy Inc. completed the reverse takeover of Juno Capital (a capital pool company) and took over that company's public listing (NPE.V). The combined organization was renamed North Peace Energy Corp.

In Q2 2007, North Peace successfully acquired the remaining 30 percent interest in their land base and now controls 100 percent of the asset as well as operatorship.

During the second half of 2007, the North Peace technical and executive team was augmented. An application for a pilot Cyclic Steam Stimulation plant was filed with the EUB, now the ERCB, in Q4 2007 with approval being received in June 2008.

During the winter of 2007/08, North Peace completed additional delineation and exploration drilling, and initiated development of its pilot CSS plant.