Status

Engagements – Status – Radio

Year

Non-Operated Working Interest Opportunity in the DJ Basin

Wells
3
Average WI% / NRI%
15.27% / 12.23%
Formation
Codell
Total Net AFE Capital
$2.4 MM
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Active

Leasehold Assets in Williston Basin – Basin Oil & Gas and Cobra Oil & Gas

Total Net Acres
~9,300 Net Acres
DSUs
> 50 DSUs
Middle Bakken PUDs
> 100 Horizontal Middle Bakken PUD Locations
Middle Bakken Type Curve EUR
810 MBOE (2-Mile) / 1,110 MBOE (3-Mile)
Drilling Econ *
2-Mile:188% IRR / 3.3X ROI and 3-Mile: 200% IRR / 3.6X ROI
*Economic assumptions: $75 WTI and $2 Henry Hub, 80% NRI, -$5 Oil Diff, -$1 Gas Diff and D&C of $7.5MM for 2-mile and $9.0MM for 3-mile
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Active

White Rock Oil & Gas Williston Basin Leasehold Assets

Total Net Acres
3,046 Net Acres
DSUs
4 DSUs
Middle Bakken PUDs
>16 Horizontal Middle Bakken PUD Locations
Middle Bakken Type Curve EUR
1,093 MBOE (2-Mile) / 1,519 MBOE (3-Mile)
Drilling Econ 2-Mile : 3-Mile
69% IRR / 4.3X ROI : 97% IRR / 5.2X ROI
* Assumes $70 WTI, $2.50 HH, D&C for 2-Mile: $8.5MM and 3-Mile: $10.5 MM
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Active

Operated Conventional Assets in the Midland Basin

Total Wells
79
Net Production
121 BOE/D (99% Oil)
Average WI% / NRI%
93.8% WI / 71.8% NRI
NTM Cash Flow
~$0.8 MM
PDP Reserves
~303 MBOE (96% Oil)
PDP PV-10
~$3.3 MM
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Active

Non-Operated Working Interest Opportunity in the DJ Basin

PDP Wells
20
Average WI % / NRI %
4.8% / 3.8%
Net Production (7/2024)
92 BOE/D
NTM Cash Flow
$923 M
PDP PV-10
$2.8 MM
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Active

Austin Chalk Development Opportunity in Jasper County, TX

Potential Austin Chalk Wells
14
Net Capex Opportunity
> $100 MM
Initial Investment
~$10 MM in Old Hickory 1H
2-Stream EUR MBOE
2,988 (31% Oil) MBOE
Gross Capex
$14.0 MM
Undiscounted ROI
5.1X
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Active

Joint Venture Development Opportunity in Campbell County, WY

WI (NRI)
50% (40.8%)
Capex
$1.5 MM
PDP PV-10
$202K
PUD EUR
165 MBO
PUD PV-20
$1.3 MM
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Active

Operated Working Interest Assets in the Arkoma Basin

Operated Leasehold Acreage
~2,550 Gross Acres / 2,246 Net Acres
Net Production
~515 MCFE/D
Cash Flow – NTM 8/24
$173,000
PDP PV-10
$1.6 MM
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Closed

DJ Basin Operated and Non-Op WI Assets

PDP PV-10
$9.7 MM
2023 Net Production
492 Net BOEPD
2023 Net Cash Flow
$5.0 MM
Acreage Position
~25,000 Net Acres
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Closed

Leasehold Assets in the Williston Basin

Total Net Acres
1,494 Net Acres
DSUs
20
Middle Bakken PUDs
65
Middle Bakken Type Curve
793 MBOE (2-Mile) / 1,025 MBOE (3-Mile)
Drilling Econ (2-Mile)
78% IRR / 3.2X ROI
Drilling Econ (3-Mile)
90% IRR / 3.8X ROI
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Closed

Opportunity in the Central Basin Platform

PDP PV-10
$38.5 MM
Net Production
625 Net BOEPD
LTM Net Cash Flow
$7.4 MM
Total Net Reserves
5,097 MBOE
Major Fields
4
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Closed

Private Operator

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Closed

PSG

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Closed

Private Seller

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Closed

Private Seller

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Closed