“Crood Mineral Interest”

Howard County, Texas

Producing Mineral Interest

•   1,980.0720 Gross Acres

•   7.5000% Mineral Interest

•    148.5054 Net Mineral Acres

•    269.2346 Net Royalty Acres

•   Operated by Surge Operating & Grenadier Energy

•    Potential Horizontal Objectives:
Middle & Lower Spraberry, Wolfcamp A & Wolfcamp B

•     31 Producing Horizontal Wells (Spraberry & Wolfcamp)

•    13 DUC Horizontal Wells (Spraberry & Wolfcamp)

•    11 Permitted Horizontal Wells (Spraberry & Wolfcamp)

•    Average Daily Production:
3,844 BOPD & 5,989 MCFPD (Gross)
29 BOPD & 48 MCFPD (Net)

•    Average Net Income:
$56,504 / Month