WILLISTON BASIN
Operated Bakken Wells and Leasehold
Richland County, Montana and McKenzie County, North Dakota
- Current Bakken Operations – Elm Coulee Field
- 4 operated wells
- 84.2% average WI / 66.92% average NRI
- 1 well operated by XTO Energy, Inc.
- Projected October 2010 production / cash flow
- 3.2 MBO and 0.61 MMCF gross production
- 1.4 MBO and 0.09 MMCF net production
- $61,860 net monthly cash flow
- ~12,017 net acres
- Majority of leases are paid-up
- Most leases cover all depths
- Primarily fee leases
- Estimated net PDP reserves as of October 1, 2010
- 105 MBO and 5.4 MMCF
- PV10 value of $2.631MM
- Significant Upside Potential in Bakken Formation Development with 20+ locations on 640-acre spacing
FOR QUESTIONS PLEASE CONTACT |
| Julia Foster, CPL |
(303) 721-6354 ext. 229 |
| David Bickerstaff, Geologist |
(303) 721-6354 ext. 232 |
| Chris McCarthy, P.E. |
(303) 721-6354 ext. 224 |
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BID DATE
SEPTEMBER 30, 2010 |
EFFECTIVE DATE
OCTOBER 01, 2010 |
CLOSING DATE
OCTOBER 29, 2010 |
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