“PC Hill ORRI”

Ward County, Texas

Producing ORRI

•   2,019.45 Gross Acres

•   Up to a 3.00% ORRI

•    407.8680 Net Royalty Acres

•    Operated by Shell Western E&P & Anadarko E&P Onshore

•    Potential Horizontal Objectives:
3rd Bone Spring, Wolfcamp A-XY, Lower Wolfcamp A, Wolfcamp B
& Wolfcamp C

•     16 Producing Horizontal Wells

•    Average Daily Production:
1,291 BOPD & 3,029 MCFGPD (Gross)
20 BOPD & 51 MCFGPD (Net)

•    Average Net Income:
$37,483 / Month