Executive Summary COIL: An Exploration & Production Company Focused on California The Next Great California Independent Simple Capital Structure (OTCQB: COIL) 38.1MM shares issued (48.1MM fully diluted including options) 3.0MM in…
Commodity Price Cycle: Are we at a Bottom Perfect Storm of Too Much Oil & Tepid Demand Over 250 Billion of E&P Projects Cancelled to date. U.S. Rig Count down to 800 from 1600 Empirically Production will Decline Key Question is When…
Kern County California: Heart of California Oil Largest Producing County in the United States 400,000 BOPD Kern Bluff Area Yowlumne Area 5
Kern Bluff Oil Field: Discovered in 1944 by Shell Acquired Kern Bluff in July for 2MM in cash & 6MM shares of Common Stock. Field Estimated to Hold over 60 Million Barrels of Oil in Place on 1,100 Acres. o 169 Vertical Wells drilled…
Original Production Facilities 7
Original Field Development: 2.5 acre Spacing 280 Acre NB Lease 29 Idle Wells Existing Horizontal 20 Vertical Locations Proposed Horizontal 6 Horizontal Locations 75-25% Drainage Map (existing wells) Proposed Vertical…
Kern Bluff Geology: Three Separate Oil Zones 9
Proposed Horizontal Locations: Transition Zone 17 Identified Horizontal Locations 10
Investment Summary: Commodity Price Cycle at or Near the Bottom Citadel Able to Buy a Distressed Asset while other Companies Forced to Sell Low-Risk Exploitation Potentially 20MM Barrels Recoverable Next 120 Days: Harvest Low…
Contact WHATS OLD IS NEW Headquarters: Geologic Office: 417 31st St. Unit A 408 Bryant Circle Newport Beach, CA 92663 Ojai, CA 93023 949-612-8040 805-910-5369 Phil McPherson, CFO Armen Nahabedian, CEO pjmcitadelexploration.com…
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