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September 2021, THIRD QUARTER 2021 – EXPLORATION AND PRODUCTION NEWS

MOUNTAIN VIEW PROSPECT, KERN COUNTY, CALIFORNIA

In January 2021, ARI gave to the operator the approval to initiate the permitting process for the first of the two wells defined by the last 3D seismic reprocessing and reinterpretation.
In February 2021, the Stenderup #66X-28 well production was stopped due to high water production. The bottom plug was leaking and a possible squeezing job proposed. Unfortunately, the high cost and low chance of success of this operation lead the partners to abandon this workover program.
In August 2021, the Stenderup #56X-28 well production became intermittent due to high pressure in the injection well.

BLOCKER PROSPECT, HARRISON COUNTY, TEXAS

In August 2021, Comstock Oil & Gas, LLC proposed to drill two horizontal Haynesville wells in Harrison county, Texas in which ARI will own 1,39%WI.
Both wells have both been drilled and are in the process of being fracked. Both wells will be producing into the natural gas sales pipeline on or before May 1, 2022.

BOOKER 3D PROSPECT, LIPSCOMB/OCHILTREE COUNTIES, TEXAS

In January 2021, ARI approved the rod pump installation in the Stormy 1084 #2HM well.

BRAZOS RIVER PROSPECT, BURLESON COUNTY, TEXAS

In September-October 2020, Chesapeake converted the gas lift systems into rod pumps in five of the producing wells.
In December 2020, Hawkwood installed pumping units in the JR Lyon #1H, #2H, #3H wells and the Alpaca #4H well.
From January to September 2021, Chesapeake installed rod pumps in the Kazmir #1H & #2H wells, the Cooper D #1H well, the Estes B #1H & #3H wells and in the Tatum HCX1 A #1H & Tatum HCX2 A #2H wells. Chesapeake also did some workover jobs in the McKinley #3H, Ratcliffe #1H, Schubert #1H and McLintock #1H wells.
In July, Hawkwood has merged with Wildfire Energy. Wildfire’s team will be taking over operations of the Hawkwood assets.

CALVERT PROSPECT, ROBERTSON COUNTY, TEXAS

In June July 2021, the Anderson #1 well and the Calvert Farms #1 well have been plugged and abandoned.

SUGG RANCH PROSPECT, IRION COUNTY, TEXAS

In April 2021, Ares Energy, Ltd and its partners worked on a farmout agreement with Triple Crown Resources, LLC. Meanwhile Triple Crown, LLC was in negotiations to acquire new leases on the land surrounding Ares’ area in order to drill 10,000ft laterals. The closure of the farmout agreement is subject of Triple Crown, LLC obtaining their additional acreage. Arbol will most likely sell 17% of its 20% WI, but participate for the remaining 3% WI going forward in Triple Crown’s development.

TUMBLEWEED & CEDAR CAMP PROSPECT, UINTAH COUNTY, UTAH

In the beginning of October 2020, the operator decided to put back the wells in production.

PAUL’s DRAW PROSPECT, CAMPBELL COUNTY, WYOMING

In September 2020, Team Operating, L.L.C. took operations from Merit Energy Company. In October 2020, the new operator replaced the production tubing in the Trend Federal #44-8A and Trend Federal #33-8 wells and plugged and abandoned the Trend Federal #28-6 well.
In March 2021, the tubing string in the Harris Fee #21-8 was also replaced.

MARACAS FIELD, CESAR BASIN, COLOMBIA

In December 2020, Texican decided to reprocess and interpret the 2D seismic line Geodataexplo worked on by Z-Terra North Company with a different method in order to improve the quality of the line.
Unfortunately, the final result did not allow to fine tune the plot of the future Compae #2 well sidetrack. Nevertheless, it confirmed that is the best method to recover the remaining reserves.
Texican is actively seeking partners to develop the project and to participate in the exploration and development of the deeper Lagunitas oil.