ASSET HIGHLIGHTS

• 136,622 contiguous, overwhelmingly fee, rural net acres in Laramie, Goshen, and Platte Counties, Wyoming

• Offset well on confidential status rumored to have 30-day IP >500 BOPD

• 43 operated DSUs (85 permits) within the prospective area

• Primary target in the Codell sandstone with strong secondary targets in the Niobrara B and C chalks

• 3D seismic is available over most of the prospect

• Drilling depth = 7,500′ – 8,500′

• Delineation of the play by Elk Mesa, Chipcore, Wave, North Peak, and Ossidiana

• Analogous to Helis, Fairway, and Silo Fields

EXECUTIVE SUMMARY