Steakley ORRI, Ector County, Texas

•  329.42 Gross Acres

• 0.3450% - 5.7352% ORRI

•  9.9871 Net ORRI Acres

•  79.8971 Net Royalty Acres

•  Operated by Contango Resources, LLC

•  Potential Development Objectives:
Grayburg, San Andres, Glorieta, Wichita Albany, Canyon, &
Mississippian

•  10 Producing Vertical Goldsmith Wells

•  3 Producing Horizontal San Andres Wells

•  Average Daily Production:
126 BOPD & 570 MCFGPD (Gross)
6 BOPD &   26 MCFGPD (Net)

•  Average Net Income:
$13,390 / Month

Yorba TGCR Project, Various Counties, TX

Producing & NPRI Mineral Interest

Rev Hatch Unit RI, Reeves County, Texas

•  527.00 Gross Acres

• 8.3333% NPRI

•  43.9167 Net Royalty Acres

•  Operated by Noble Energy, Inc.

•  Potential Horizontal Objectives:
2nd Bone Spring, 3rd Bone Spring, Upper & Lower Wolfcamp A,
Upper & Lower Wolfcamp B, & Wolfcamp C

•  3 Producing Vertical Wolfbone Wells

•  3 Horizontal Wolfcamp DUCs

•  4 Horizontal Bone Spring Permit

•  Average Daily Production:
8.74 BOPD & 10.65 MCFPD (Gross)
0.09 BOPD &   0.11 MCFPD (Net)

•  Average Net Income:
$418 / Month (12 Month Avg)

Moorman Mineral Project, Haskell County, Oklahoma

Davidson Mineral Project, Reeves, Crane & Upton Counties, Texas

•  2,643.78 Gross Acres

• Various Mineral Interests

•  90.9489 Net Mineral Acres

•  162.1727 Net Royalty Acres

•  Operated by BPX Operating Company, Olsen Energy, Inc. &
NEC Operating, LLC

•  Potential Horizontal Objectives:
2nd & 3rd Bone Spring and Wolfcamp XY, A
Upper & Lower, B, & C

•  2 Producing Horizontal Wolfcamp Wells

•  3 Horizontal Wolfcamp Permits

•  1 Producing Horizontal San Andres Well

•  4 Producing Vertical Wells

•  Average Daily Production:
184.68 BOPD & 905.53 MCFGPD (Gross
0.33 BOPD &     1.19 MCFGPD (Net)

•  Average Net Income:
$1,293 / Month

Yorba Howard Project, Howard & Borden Counties, Texas

•  3,734.4330 Gross Acres

• 89.3483 Net Mineral Acres

•  378.8621 Net Royalty Acres

•  Operated by Murchison Oil & Gas, LLC &
McClure Oil Company, Inc.

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

•  30 Producing Horizontal Spraberry & Wolfcamp Wells

•  5 Horizontal Spraberry & Wolfcamp DUC’s

•  4 Active Horizontal Spraberry Permits

•  Average Daily Production:
5,304 BOPD & 4,627 MCFGPD (Gross
61 BOPD &      46 MCFGPD (Net)

•  Average Net Income:
$90,168 / Month

Willis Crawford Project, Midland County, Texas

Briggs Crawford Project, Midland County, Texas

Simon Energy Associates, LLC has been exclusively retained by two independent Sellers to market their Mineral Interests in Section 43, Block A, Midland County, Texas. Both Sellers own an undivided 2.083333% Mineral Interest in the tract - see Property Summary below. Each interest will be marketed in separate Data Rooms and offers are to be submitted separately for each Seller.

Property Summary

(Per Seller)

•  655.8100 Gross Acres

• 13.6627 Net Mineral Acres

•  20.4941 Net Royalty Acres

•  Operated by Endeavor Energy Resources

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

•  17 Producing Horizontal Wolfcamp Wells

•  8 Producing Vertical Wolfberry Wells

•  Average Daily Production:
1,733 BOPD & 7,126 MCFGPD (Gross)
3 BOPD &      13 MCFGPD (Net)

•  Average Net Income:
$8,418 / Month

Lagunas Royalty Interest, Reeves County, Texas

•  1,851.00 Gross Acres

• Up to a 3.703704% NPRI

•  55.3205 Net Royalty Acres

•  Operated by Noble Energy, Inc.

•  Potential Horizontal Objectives:
3rd Bone Spring, Upper & Lower Wolfcamp A, and
Upper & Lower Wolfcamp B

•  5 Producing Horizontal Wolfcamp Wells

•  1 Shut-In Horizontal Wolfcamp Well

•  7 Producing Vertical Wolfbone Wells

•  Average Daily Production:
243 BOPD & 1,568 MCFGPD (Gross)
0.33 BOPD & 1.85 MCFGPD (Net)

•  Average Net Income:
$900 / Month

Aspect Royalty Interest, Reeves County, Texas

•  641.25 Gross Acres

• 3.1250% Term Royalty Interest

•  160.3125 Net Royalty Acres

•  Operated by Permian Resources Operating, LLC

•  Potential Horizontal Objectives:
1st Bone Spring, 2nd Bone Spring, 3rd Bone Spring, Upper &
Lower Wolfcamp A, Upper & Lower Wolfcamp B, & Wolfcamp D

•  1 Producing Vertical Devonian Well

•  Average Daily Production:
0 BOPD & 77 MCFGPD (Gross)
0 BOPD &   2 MCFGPD (Net)

•  Average Net Income:
Pending Division Order from Operator

TXCO Mineral Interest, Reeves County, Texas

•  644.0600 Gross Acres

• 25.0000% Mineral Interest

•  161.0150 Net Mineral Acres

•  177.1165 Net Royalty Acres

•  Operated by Permian Resources Operating, LLC &
Jetta Operating Company, Inc.

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

•  9 Producing Vertical Delaware Wells

•  1 Producing Horizontal Wolfcamp Well

•  4 Horizontal Wolfcamp DUCs

•  Average Daily Production:
124 BOPD & 208 MCFGPD (Gross)
4 BOPD &     7 MCFGPD (Net)

•   Average Net Income:
$9,335 / Month

Cohen Mineral Interest, Reeves County, Texas

•  240.5100 Gross Acres

•  17.5319 Net Mineral Acres

•  25.0319 Net Royalty Acres

•  Operated by UpCurve Energy, LLC

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

•  5 Producing Horizontal Wolfcamp Wells

•  Average Daily Production:
265 BOPD & 3,583 MCFGPD (Gross)
0 BOPD &        3 MCFGPD (Net)

•   Average Net Income:
$1,002 / Month

Willis M43 Project Mineral Interest, Midland County, Texas

•  654.47 Gross Acres

•  2.083333% Mineral Interest

•  13.6348 Net Mineral Acres

•  20.4522 Net Royalty Acress

•  Operated by Endeavor Energy Resources

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

•  17 Producing Horizontal Wolfcamp Wells

•  8 Producing Vertical Wolfberry Wells

•  Average Daily Production:
2,559 BOPD & 7,278 MCFGPD (Gross)
5 BOPD &      14 MCFGPD (Net)

•   Average Net Income:
$16,487 / Month