Exploration & Production | Operational Updates

Raging River to Drill 60 Net Wells in Q1 2014

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Operations Update

Raging River is in the midst of another active quarter in which we anticipate drilling 60 net horizontal wells. We currently have two drilling rigs operational and have drilled 17 gross (15.5 net) wells this quarter at a 100% success rate. With completion operations well under way a new well is being placed on production every day and it is expected that trend will continue throughout the quarter.

To date this quarter we have successfully tested four previously undrilled sections at Beadle with expectations that an additional 12-15 previously undrilled sections will be tested this quarter.

In the recently acquired Forgan area, the operations team has been actively working towards obtaining our first drilling licenses in the area and it is now expected that we will be able to drill up to four wells testing previously undrilled sections in this area during the first quarter.

Raging River continues to be active on adding additional lands in the Viking light oil fairway. Since early December 2013, 15 additional sections of land have been added in the greater Beadle area. Our total prospective Viking light oil land holdings are now in excess of 215 net sections.

Raging River's team remains dauntless in its pursuit of operational and executional excellence to continue delivering per share production, reserves and value growth to our shareholders while maintaining a pristine balance sheet.