Bayside Corporation (BYSD)

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$BYSD - Oil and Gas Fields

Following is a description of the properties owned by BYSD. The currently owned fields include:
1) Muscadine Field – Tyler County, Texas. This field is located on a 230-acre tract of land in Tyler
County, Texas. Weatherby Energy, LLC (Oklahoma) has entered into an agreement whereby it has
acquired new leases on the project and brought the wells into compliance with the Texas Railroad
Commission. Weatherby will be filing a Plan of Operation with the National Park Service to secure
full time access to the wells. They are finalizing the funding of the reworks/re-completions of the
wells and for the drilling of a new well on the lease. BYSD will have a 25% reversionary interest in
the lease. The field has had six productive wells drilled during its life, with the drilling taking place in
two phases, the late 1950’s and the early 1970’s. The field produces from multiple zones in the
Wilcox formation, occurring between the depths of 8,175’ and 8,500’. The field has produced
approximately 400,000 barrels of oil and 350 MMCF of gas. New wells should produce in excess of
100 bopd and the reworks/re-completions should contribute an additional 100 bopd.

2) Loma Novia & Government Wells, S. Fields (Bishop Cattle Lease) – Duval County, Texas. The
Company has a 50% interest in a 480-acre oil and gas lease that is a SW extension to the Loma Novia
field. The lease previously had 43 completed wells located on it, of which 18 are shut-in (unplugged)
and still viable. The company plans to test the existing wells for production viability and put on the
wells that will produce commercially. It is expected that an additional 15 locations will be available
for future drilling. Wells completed on the Western portion of this lease were producers from the
Government Wells sands and are located in the Government Wells, S. Field. Wells on the Eastern
portion of the lease are completed in the Loma Novia Field (Loma Novia sands). Upon putting all
reworked/recompleted wells into production the Company anticipates daily rates ranging between
60 and 100 bopd. New wells are expected to potential around 15 to 25 bopd.

3) Loma Novia & Government Wells, S. Fields (P. E. White Lease) – Duval County, Texas. The lease
covers 1,215-acres in an area in which both Loma Novia and Government Wells sand wells were
completed and produced. Approximately 57 wells were drilled on this lease and completed in one
of the two zones. A majority of the drilling took place in the early to mid-1930’s. The lease is
currently shut-in pending resolution of certain compliance issues with the Texas Railroad
Commission. There are numerous development drilling locations on the lease and a report prepared
by a third party petroleum engineer gives 1.5 million barrels of oil recoverable from the lease with
new drilling. New wells should potential around 20 to 30 bopd.

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