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$STSC Cozieni!!!

Cozieni Field is one of six existing oil and gas concessions and leases covering approximately 120,000 acres in Romania. The company plans to drill one new well in each of three fields (Cozieni, East Ciumeghiu, and Calinesti Fields). A summary of Cozieni Field is as follows:

Size/area: 600 acres

Average net pay: 25 feet

Depth: 2,000 feet

Proven reserves: 3.5 BCF

Probable/Possible reserves: 3.0 BCF

Total reserves: 6.5 BCF

Expected initial daily production per well: 1,200 MCFGPD


Working interest

Net revenue interest:


80%

64%

Expected drilling costs (4 wells @ $750,000): $2,400,000 (80%)