Presentation to the NWT Chamber of Commerce AGM April 3, 2012

1. Norman Wells Chamber Report Presentation to the NWT Chamber of Commerce AGM April 3, 2012

2. Norman Wells Chamber Report Introduction to the Norman Wells & District Chamber Regional and Local Economic Update Accomplishments and Initiatives Challenges & Issues Objectives for 2012 Overview of Presentation Norman Wells Chamber Report

3. The Norman Wells & District Chamber of Commerce was founded in 1972 • Current membership of 38 • Board of Directors: • President - Chris Buist • Directors Sara Balanuik, Pete Spilchak, Stefan Blake Introduction Norman Wells Chamber Report

4. Norman Wells Chamber Report Declining oil production in Norman Wells. 2011 Call for Nominations: Five companies bid in excess of $534M for 11 parcels in the Sahtu. Husky Energy completed a two-well program and a 3-D seismic program in the Tulita District. An estimated $40M was spent and 150 people employed. Explor Data completed the first year of a two-year seismic program in the parcels purchased in 2011. An estimated $25M was spent and 75 people employed. Regional and Local Economic Update Norman Wells Chamber Report

5. Negotiation of Access and Benefits Agreements are underway between the successful 2011 bidders and the Tulita Land District Corporation to facilitate exploration in 2013. • Two land parcels in the Fort Good Hope area are currently available (bids close in June). • Outfitting and adventure tourism remains an economic benefit to the region. • Mineral exploration remains at minimal levels. Regional and Local Economic Update Norman Wells Chamber Report

6. Norman Wells Chamber Report In conjunction with the Inuvik Chamber of Commerce, submitted the Mackenzie Valley Fibre Optic Link resolution to the Canadian Chamber of Commerce. Active member of territorial and national Chambers of Commerce; affiliation with the Edmonton Chamber & World Trade Centre Participation on municipal committees Attended variety of meetings with business and government Accomplishments/Initiatives Norman Wells Chamber Report

7. Norman Wells Chamber Report Concern with land access issues Termination of Natural Gas Supply – supply to commercial users will be terminated June 30, 2013. Conversion costs are expected to have a significant impact on both large and small businesses. Aging municipal infrastructure Ongoing lack of permanent land transportation Challenges & Issues Norman Wells Chamber Report

8. Norman Wells Chamber Report Proposed power rate increases are of concern to the business community. Current shortage of rental accommodations, office space and residential properties. Businesses will be challenged to meet the increased demands of industry (increased exploration activities) and continue to serve existing markets. Challenges & Issues Norman Wells Chamber Report

9. Norman Wells Chamber Report • Increase membership • Establish Chamber as a strong advocate for business in the region • Strengthen relationships with other Chambers • Continued participation and membership in NWT and Canadian Chamber of Commerce • Website enhancement Objectives & Initiatives for 2012 Norman Wells Chamber Report