The peak of efficiency…

The Operated South PRA assets were comprised of 31 Wells currently producing 356 boe/day with oil comprising 49% of the production.  An additional 10 boe/day will be brought on line from workovers in 2019.  The South PRA has significant upside for future drilling.  We currently forecast 30 wells to be drilled over the next 4 years which will add 1,300 boe/day and 4.0 mmboe reserves.  The South PRA comprises 21,280 gross (19,993 net) developed acres and 5,600 gross (5,456 net) undeveloped acres and 1,280 acres of Royalty Interest lands. The South PRA area includes Cecil, Charlie, Dixonville, Eureka, Habay and Worsley.

The Cecil asset, located between Townships 83 and 85, Range 8W6, consists of 8 gross (4.40 net) wells of which 4 gross (2.20 net) are producing an average of 33 boe per day with gas constituting 25 percent of production. Cecil has 1 Water Injection Wells, 2 Water Disposal Wells, 1 Observation Well, 1 Compressor, 1 Oil Battery and 4 gross (2.20 net) shut-in wells targeted for recompletion. Cecil consists of 2,240 gross (1,232 net) developed acres for a total gross acreage of 2,400.

The Charlie asset, located between Townships 88 and 90, Ranges 5 and 7W6, consists of 21 gross (21.93 net) wells of which 17 gross (16.94 net) are producing an average of 220 boe per day with gas constituting 50 percent of production. Charlie has 4 gross (3.99 net) shut-in wells targeted for recompletion, 1 Water Disposal Well, 1 Compressor and 1 Oil Battery. Charlie consists of 3,200 gross (3,056 net) acres of undeveloped land and 13,440 gross (13,392 net) developed acres for a total gross acreage of 16,640.

The Eureka asset, located between Townships 87 and 88, Range 3W6, consists of 2 gross (2.00 net) producing an average of 12 boe per day with gas constituting 70 percent of production. Eureka has 1 Water Disposal Well and 1 Gas Plant. Eureka consists of 480 gross (480 net) acres of undeveloped land and 800 gross (800 net) developed acres for a total gross acreage of 1,280.

The Habay asset, located in Townships 88, Ranges 6W6, consists of 3 gross (3.00 net) wells producing an average of 33 boe per day with gas constituting 35 percent of production. Habay has 1 gross (1.00 net) observation well and 1 Oil Battery. Habay consists of 320 gross 9320 net) undeveloped acres and 640 gross (640 net) developed acres for a total gross acreage of 960.

The Worsley asset, located between Townships 86 and 89, Ranges 5 and 13W6, consists of 4 gross (3.59 net) producing an average of 56 boe per day with gas constituting 74 percent of production. Worsley has 1 Water Disposal Well, 1 Amine Plant, 1 Gas Gathering System, 1 Gas Plant and 1 Oil Battery. Worsley consists of 2,880 gross (2,880 net) acres of undeveloped land and 2,240 gross (2,010 net) developed acres for a total gross acreage of 5,120.

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