Description

Approximately 27,000,000+ proven and recoverable oil reserves on the west coast with mineral rights available for assignment.

ASSET: 460 acre Met/ 80% Lease with 10 well commitment. Developmental Horizontal Pinnate Wells 2,700THL 10: 4 extraction, 4 injection 2,900-3,400’ TVD; 1 feeder and 1 remote connection to TAP at an AFE $2.5M each. Estimated 40M bod with 5MMcfgd. Estimated Budget AFE: $50 million.

RESERVES: P10, P50, P90 P10>16.5MMbo, P50>11.5MMbo, 90>5MMbo.

Property shall be operated by the company within a Joint Venture arrangement or sold outright for $100,000,000. Complete due diligence and geology available upon request.

Posted Nov 3, 2011

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