Osage County, OK $9.5m Estimated 500-1000 BOPD.

2240 acres +/- BIA.

Current production at 65 BOPD out of 10 producing wells.

All are vertical wells.

There are 22 well bores that need re-worked. Wells are down for 1 of the following reasons. Pumping unit, no power, bad flow lines, etc.

1- Disposal well rated to handle 10k bbls day @ 500psi. Reserves est at 7 million + bbls oil, 10 billion MCF gas.

81% NR, 100% working interest, and All O&G Minerals to basement. There is core data on every well.

Current producing from (Red Fork, and Mississippian lime stone) Asking $4.5 million for 100%

Current operator is willing to stay on.

Upside is excellent. Quick fix would be in the range of $1-1.5 million to hit 200 bbls day.
Long term fix would cost estimate: $5 million for re-work and drilling program to achieve 500-1000 bbls day production.

Posted May 19, 2015

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