Investment Highlights Consolidated land position with a large drilling inventory in the oil-rich Permian Basin Midland Basin plays rank amongst the most economic plays in North America Strong working interest partner in…
Permian Basin Prolific Permian Geology The Permian Basin is the most prolific onshore oil basin in North America. Texas Increasing recoveries of original oil in place (OOIP) 4
Corporate Overview Summary Permian Basin Oil Capital Structure As at June 1, 2015 Midland Basin 5,883 net acres Shares Outstanding: 130.2 million 107 producing vertical Wolfberry Options: 4.2 million wells Fully Diluted: 134.4…
Fiscal 2015 PN&G Operations Summary Three months ended Three months ended Three months ended Mar 31, 2015 Dec 31, 2014 Sept 31, 2014 Net Revenues Petroleum 2,975,681 4,461,778 6,248,076 Natural gas 485,205 616,750 683,538 Natural…
First Half Fiscal 2016 Capital Plan Summary Remaining activities under Fiscal 2015 capital plan: spud 1 gross horizontal Midland Basin well spud 1 gross vertical Midland Basin well From July 1, 2015 to December 31, 2015, the…
Corporate Overview Strong Board of Directors Colin Watt, President, CEO and Director 15 years of public resource company management experience President of Squall Capital Corp., a private Canadian based company which specializes in…
Corporate Overview Strong Partner in CrownQuest Midland based CrownQuest Operating LLC is the operator on the vast majority of our acreage Solid history of success (GE partnerships) and substantial backing by Lime Rock…
Midland Basin Vertical Wolfberry The Wolfberry resource play is pervasive in the Midland Basin Originally, operators commingled production from the Wolfcamp and Spraberry horizons, and coined the term Wolfberry Wolfberry now…
Midland Basin Horizontal Potential in Multiple Horizons Several horizontal resource plays being delineated Horizontal development in the Midland Basin is exceeding original expectations Increasing industry activity de-risking…
Midland Basin Acreage Position Gross Lynden Net Lynden Net County Acres % Interest Acres 1,757 43.75 769 Martin 1,127 20.00 225 Midland 640 43.75 280 Glasscock 4,480 43.75 1,960 6,121 40.625 2,487 Howard 640 25.39 162…
Development Model 960 acres (1 sections) Vertical Vertical Horizontal 40 Acre 20 Acre Locations 24 48 4 per horizon Prospective Horizons Clearfork Lower Spraberry Middle Spraberry Wolfcamp A, B, and C Wolfcamp D (Cline)…
Glasscock County Industry Reported Horizontal Type Curve Well Economics Laredo Energy Energen Corporation2 Wolfcamp A Wolfcamp B Wolfcamp C Cline Wolfcamp A Wolfcamp B EUR (MBOE) 850 / 1,100 750 / 1,100 700 725 / 1,000 850…
Glasscock County Wind Farms Prospect Area Gross Acres: 4,480 Net Acres: 1,960 Initial horizontal locations Lyndens Net Interest: 43.75% Wind Farms area scheduled to be initial horizontal appraisal area on CrownQuest operated…
Howard County Tubb Prospect Area Gross Acres: 6,761 Net Acres: 2,640 Lyndens Net Interest: 25.39 40.63% Ongoing vertical well program to perpetuate leases Improvements in vertical well completion practices Potential for…
Key Midland Basin Industry Trends Increasing Recoveries of OOIP Ability to exploit multiple hydrocarbon formations at depth and along strike Efficiency gains from pad drilling and stacked horizontals Internal rates of return…
Eastern Shelf Mitchell Ranch Overview Unique opportunity in terms of size, contiguous nature and potential Covers 165 square miles on Eastern Shelf 50% working interest in 104,000 Mitchell Ranch gross and net acre lease…
Mitchell Ranch Tremendous Geological Potential Several High-Impact Midland Basin to Eastern Shelf Resource Play Targets Wolfcamp Simplified Stratigraphic Section Cline shale Mississippian Mitchell Ranch 20
Mitchell Ranch Targets Vertical Wolfcamp, commingled zones Analogous to the Wolfberry approach Targeting 100-125 MBOE per well Multiple Wolfcamp intervals Located between 3,400 and 7,300 feet Addition of other zones below the…
Mitchell Ranch Seismic 3D seismic across ranch currently being interpreted Identification of anomalies, dipping beds, general stratigraphy, and structure Debris flow and reef targets identified within Wolfcamp A Mississippian /…
Mitchell Ranch Measured 2015 Capital Program 4 vertical well program underway Spade 17 3 testing Purvis Operating New location Spade 5 1 9+ Wolfcamp wells Spade 1 1 testing 500 bopd Spade 18 1 testing Spade 5 1 testing…
Opportunity Overview Summary Midland Basin Operator has drilled or participated in several hundred Wolfberry wells Established land position Predictable nature allows for debt financing Industry rapidly delineating horizontal…
Attractive Valuation Equation Summary Consolidated land position with a large drilling inventory in the oil-rich Permian Basin Midland Basin plays rank amongst the most economic plays in North America Strong working interest…
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