11/2/22 – New – KS Lease Development Program – Phase III

11/2/22 – New – KS Lease Development Program – Phase III

2400 acre lease in Central KS

Operator to drill 2 offset vertical wells to complete in the Marmaton – estimated reserves of 75MBO per well in this payzone alone

2 Secondary payzones estimated 35-100MBO per well in reserves

Lease has recently completed well producing 40 bopd and 3 more drilled awaiting completion

Estimated payout under 10 months upon successful completion of all wells @ $85 oil

Estimated 2:1 payout in 3 years for single payzones

$23k per 1%WI @ 80%NRI.  First right of refusal on subsequent development on leasehold. 30% WI available.