Saturday, July 09, 2022 12:07:41 PM
California
? Approximately 3,500 acres under lease in Kern County, California
? 3-D seismic coverage over entire acreage position
? 434,223 barrels of proved crude oil reserves at February 28, 2021
? 20 producing crude oil wells
? Average of 36.6% working interest
? Low operating cost - approximately $26 per barrel of crude oil at November 30, 2021
Michigan
? Approximately 700 acres under lease
? Analysis of the 3-D seismic survey confirmed the prospect identified on the 2-D seismic, as well as
identified several additional drilling locations
? 3-D Seismic was obtained in January and February 2017. Results confirmed initial drilling locations.
? 70% non-operated working interest
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