SUMMARY - WRITE UP
SOUTH LOUISIANAPRODUCING PROPERTY PURCHASEBERGERON #1
RESERVE SUMMARYBERGERON #1
Five (5) Recompletes
1,200’ Sand 12 MBO1,350’ Sand 6 MBO2,000’ Sand 12 MBO3,350’ Sand 7 MBO4,000’ Sand 3 MBO
Producing 4,500’ Sand 12 MBO
Total Est. Res’s 52 MBO

Current Rate: 4,500’ Sand 8 - 10 BOPD

BERGERON NO 1 – ON PRODUCTION IN 4,500’ SAND –. Pumping 8-10 bod.The BERGERON NO. 1 was completed as an oil well in 2011. The well has produced +/-33,061 barrels of oil in the 4,500’ Sand and is currently making 8-10 bod with a flat decline rate. The wellhas numerous recompletions remaining in the wellbore totaling over 50 mbo of potential oil reserves witha long life. The effective date of the sale will be on the month following the purchase. Working Interestowners are expected to pay monthly Joint Interest Billing costs that are necessary to keep the well onproduction. An example of this is electricity, gauging, overhead to operate, chemical charges, insuranceetc which average $6500/mon and $1250/mon for water disposal. Normally these costs will be less thanthe revenue with a positive cash flow each month. At times a larger expense may be necessary, to remedyan issue and a workover rig may be needed to perform the work. In this case the working interest investorwill be notified prior to a rig being mobilized on location with an estimated cost to perform the work anda possible cash call before the work is performed.There is a salt water disposal well near the Bergeron well to minimize disposal costs of produced waters.

SOUTH LOUISIANAPRODUCING PROPERTY PURCHASEMORESI #1
Section 119 and 46, Township 9 South-Range 5 EastAnse La Butte FieldSt. Martin Parish, Louisiana
The MORESI NO. 1 was completed as an oil well in June 2012. The well hasproduced 27,566 barrels of oil in the main body of the 4,500’ (Patin Sand). The well wasrecompleted to the Patin Stray Sands from perforations 4450-4468’, 4398-4420’, 4346-4364’, and 4316-4328’ in February, 2021. The Moresi No. 1 has produced +3,741 todate. The well is currently making 4-6 bod but needs a Rod Pump Change Out (+/-$25,000) to get production up to 8-10 bod. The well has two recompletions remaining inthe wellbore with a range of 9.8 – 19.6 mbo of potential oil reserves . The effective dateof the sale will be on the month following the purchase. Working Interest owners areexpected to pay monthly Joint Interest Billing costs that are necessary to keep the well onproduction. An example of this is electricity, gauging, overhead to operate, chemicalcharges, insurance etc. which average +/- $6500/mon and +/- $1500/mon for waterdisposal. Normally these costs will be less than the revenue with a positive cash floweach month. At times a larger expense may be necessary, to remedy an issue and aworkover rig may be needed to perform the work. In this case the working interestinvestor will be notified prior to a rig being mobilized on location with an estimated costto perform the work and a possible cash call before the work is performed.Plan is to change out the downhole rod pump and increase production to 8-10 bod. Thereis a salt water disposal well near the Moresi well to minimize disposal costs of producedwaters.
I. COMPLETION #1 4500’ - PATIN SANDII. COMPLETION #2 4500’ – PATIN STRAY SANDS