SUGG RANCH, Irion County, Texas

This block covers 3,231 net acres all held by production in Irion County, Texas.
The project consists of the development of an existing oil and gas field where 24 operated and 7 non-operated wells are producing.
Reservoir objectives for upside development are the Wolfcamp and Canyon formations.
The Operator is Ares Energy, Ltd.

Operator: Ares Energy, Ltd
Acreage: 3,231 acres
Acquisition Year: 2016
Average Working Interest: 20%
Average NRI: 15.19%
Main Objectives: Wolfcamp & Canyon formations
Number of wells: multiple

Gross Estimated Gas Reserves: 160,000 mcf/well
Gross Estimated Oil Reserves: 80,000 bbl/well