| Significant Wildcat Discoveries and Field Extensions | Jump Start (Tannehill & Cook), Shackelford
County, Texas Would Have (Clearfork), Howard County, Texas Bower, E. (Mississippian), Stephens County, Texas Cliff Hanger (Mississippian), Stephens County, Texas Irwin, N. (Mississippian), Throckmorton County, Texas SPA (Mississippian), Stephens County, Texas Paint Canyon (Cook), Shackelford County, Texas Field Extension, Amy Sears Lease, East Bartlett field, Jones County, Texas Redevelopment of the Mead Strawn Field, Jones County, Texas Extensive Rework and Repairs, Lake Trammel Field, Nolan County, Texas |
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| Improving Production of Acquired Properties | In the Signal Peak and Lost Peak Fields of Howard County, Texas, we increased daily oil and gas production from 8,517 Mcf of gas and 475 barrels of oil at the time of acquisition to 9,651 Mcf of gas and 631 barrels of oil in three months after taking over operations. On the Amy Sears Lease in the East Bartlett Field of Jones County, when we acquired the lease from the previous operator it was making one barrel of oil per day and 20 Mcf of gas. After nine months of reworking old wells and infield drilling, we had this lease making 253 barrels of oil and 638 Mcf of gas daily. | |
| Significant Property Sales | 1997: Jump Start Field, Shackelford County, Texas 2003: Would Have, Signal Peak, and multiple other fields 2009: Lake Trammel and other related Eastern Shelf properties | |
| Our Current Leasehold Positions (Developed and Undeveloped) | Haskell County, Texas Jones County, Texas Nolan County, Texas Shackelford County, Texas Stonewall County, Texas Taylor County, Texas Mitchell County, Texas Tom Green County, Texas Kent County, Texas Fisher County, Texas |
640 Gross Acres 8,700 Gross Acres 1,500 Gross Acres 4,000 Gross Acres 314 Gross Acres 2,127 Gross Acres |
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With this vast amount of acreage in our inventory, we currently have over 100 locations to drill and develop. At this time we are maintaining a continuous drilling program on our acreage position. We are currently drilling and completing at the rate of six to eight wells per month. We expect this rate to double when we complete the process of making our third and fourth drilling rigs ready to move into the field. | |