TUMBLEWEED & CEDAR CAMP, Uintah County, Utah

The two prospects hereafter are located within the southern Uintah basin of northeastern Utah, approximately 50 miles southwest of Vernal, Utah. The prospects are specifically situated along the prolific producing northwest/southeast trending Hill Creek fault and Garmesa lineament. The Operator is Stewart Petroleum Corporation.

The Tumbleweed’s block covers approximately 10,157 gross acres whereas the Cedar Camp’s block covers approximately 7,275 gross acres.

The main objective is the Jurassic Entrada eolian sand. The Wingate sand is the secondary objective. The initial directional test well, drilled in October/November 2007, reached a total measured depth of 11,648 ft. (3,550.30 m). Numerous gas shows were encountered while drilling in the Entrada & Wingate formations. The completion of this well and the construction of the production facilities were finalized by the end of April 2008. A frac stimulation was performed in both formations. The present production rate is 5 million cubic feet of gas per day and is mostly attributed to the Lower Entrada interval.

As the second initial test well is postponed, a water injection well will possibly be drilled. The Operator is working diligently on new drilling permits for future development wells.

Operator: Stewart Petroleum Corporation
Acreage: 17,432 gross acres
Acquisition Year: 2007
Working Interest: 0.5% (0.588235% BCP on both initial test wells)
NRI: 0.405/0.4025%
Main Objective: Wingate & Entrada Formations (Triassic?/Jurassic)
Number of wells: Multiple

Gross Estimated Gas Reserves: 3 bcf/Entrada well & 0.5-3 bcf/Wingate well