Bakken Resources (fka BKKN)

[MyBad]

Summary of Sept. 2010 Geologist Report for BRI:

Technical Report (revised)
Estimate of Bakken Oil Resource
For Lease-holdings of Bakken Resources Inc.,
McKenzie County, North Dakota USA

by
David Boleneus,
Licensed Geologist; AIPG (member)

September 11, 2010
Revised September 20, 2010 To view the report in its entirety, please click the icon to the left.
For a brief summary, please read below.

Summary

This investigation provides an estimate of the oil resource in reservoirs of the Bakken Formation within the 3,000-acre lease-hold of Bakken Resources Inc. (BRI) located in McKenzie County portion of the Williston Basin of North Dakota.

The State of North Dakota estimated in 2008 that the Bakken Formation contains 149.2 billion barrels of oil in-place within the borders of North Dakota. Also in 2008, the U.S. Geological Survey estimated that 3.65 billion barrels oil and 1.85 trillion cubic feet of natural gas remains undiscovered within the Bakken Formation across the U.S. portion of the basin, which includes North Dakota and Montana.

Standard petrophysical log data from a nearby well, data from nearby producing wells, in addition to data published about the Bakken Formation by State of North Dakota Department of Mineral Resources provided the data needed to perform a volumetric estimate to establish original oil in-place resources. The most likely estimate of original oil in-place (OOIP) within the BRI lease-hold of 58 million barrels may be classified in the prospective resource category. This most-likely case estimate compares favorably with the quantity of in-place oil resources estimated in 2008 for McKenzie County by the North Dakota Department of Mineral Resources. This estimate does not account for percentage of oil and natural gas that could be recovered or produced. This estimate is made in consideration of Guidelines for Evaluation of Petroleum Reserves and Resources of 2001 (revised 2007).

David E. Boleneus
Licensed Geologist
State of Washington