oil & gas assets

producing propertySOLID EAST TEXAS PACKAGE

Producing Property For Sale Through PLS Marketing & Transaction Arm
All Standard Disclaimers Apply & Seller Rights Retained


SOLID EAST TEXAS PACKAGE
EAST TEXAS SALE PACKAGE
44-Wells. 6,922-Net Acres.
CORE COTTON VALLEY TREND
RUSK, PANOLA & HARRISON COS.
PDP Gas + PUD Horizontal Infill Potential.
NSAI Engineering Report Available
Mostly OPERATED WI For Sale.
Anticipated Net Prod: 5.0-6.0 MMcfe/d
Total Proved Reserves: 71.2 Bcfe
Total Net Proved PV10: $33.5MM
NEW NSAI Y/E ENGINEERING REPORT
MOTIVATED SELLER. FAIRLY PRICED
PP 1240DV
Sale Points
SELLER REVIEWING OFFERS

PLS IS SEEKING NEW BUYER INTEREST AND EVALUATING CURRENT OFFERS AND NEGOTIATING TO SELL THIS PACKAGE FOR MOTIVATED SELLER.

Updates:
02/22/18: A. LOS has been updated through Nov/Dec 2017 in the 08. Financial folder in the Confidential section on the VDR.
02/16/18: F. Daily Production Reports updated with 2018 Daily Production Reports in the 06. Engineering Folder
01/31/18: D. Well List updated in the 02. General Inforamtion folder. Well List file added.
01/26/18: G. Beckham 8 and Brady 9 subfolder has been added in the 07. Operations folder in the Confidential section of the VDR. H. Beckham 8 Reports subfolder also added.
01/25/18: A. Reserve Reports has been updated in the 06. Engineering folder in the Confidential section of the VDR. Aries Database added.
01/25/18: A. LOS has been updated in the 08. Financial folder in the Confidential section of the VDR. Overhead G&A expenses remove.
01/23/18: F. PSA has been added to the 02. General Information folder.
01/19/18: A. Reserve Reports has been updated in the 06. Engineering folder in the Confidential section of the VDR. NSAI official reserve report added.
01/19/18: Sojitz East Texas Bid Guidelines document has been added to the 01. Summary & Introductory Material folder in the Public section of the VDR.
01/19/18: F. Beckham 8 Update subfolder has been updated in the 07. Operations folder in the Confidential section of the VDR. Beckham-8 Flowback Report added.
01/18/18: A. Reserve Reports subfolder has been updated in the 06. Engineering folder in the Confidential section of the VDR. YE 2017 Reserve Report added.
01/08/18: A. LOS subfolder has been updated in the 08. Financial folder in the Confidential section of the VDR.
01/08/18: E. Beckham 7R and Beckham 8 Update have been added to the 07. Operations folder in the Confidential section of the VDR.
01/08/18: B. Revenue Statements subfolder has been updated in 08. Financial folder in the Confidential section of the VDR.
01/05/18: F. Daily Production Reports subfolder has been updated in 06. Engineering folder in the Confidential section of the VDR.
01/03/18: C. Lease and Title subfolder has been updated in 04. Land & Legal folder in the Confidential section of the VDR.

Summary:
PLS Energy Advisors Group has been retained by Sojitz Energy Venture, Inc to market their East Texas assets located in the core Cotton Valley trend. Sojitz operates in Rusk and Panola Counties and owns additional Non-Op interest in Harrison and Panola Counties. These high-quality gas producing assets offer significant growth via drilling the horizontal Taylor Sand & Roseberry Sand.

Overall, the assets include 44 producing wells (37 operated) on 7,700 gross acres (6,922 net acres), where Sojitz operates 37 wells. A third-party engineering report performed by Netherland, Sewell & Associates, Inc (NSAI), supports a Total Net Proved PV10 of $36,201,400 as of Year-End 2016. An updated reserve report as of YE 2017 will be released early January. Current net production is ~4.0 MMcfed (95% gas) with volumes expected to reach 5.0-6.0 MMcfe/d with the addition of 2 wells to be recompleted late December 2017.

Immediate Upside Program:
The Taylor Sand (Cotton Valley) has significant upside based on nearby activity. There has been active horizontal drilling offsetting Sojitz’s Brady/White Gas Unit in eastern Rusk County, including the Marks Poovey #1H which came online in January 2015 at 9.4 MMcfe/d (30 day IP). On Sojitz’s Brady/White Gas Unit, there is de-risked infill acreage to drill up to six >5,000’ horizontal Taylor Sand wells (at 1,000’ spacing) which have a normalized 5.3 Bcf EUR/well in the area. Nearby development shows potential of >2 Bcf/1,000’ lateral EUR resulting in 10 Bcf EUR/ well. Additional proved locations via drilling vertical Haynesville Lime infill wells.

Sale Process:
Offers Due: February 1, 2018
Effective Date of Sale: February 1, 2018
Closing Date: February 28, 2018

CONTACT AGENT:
PLS Energy Advisors Group
Mr. Eric Thompson
A&D Team Lead
10850 Richmond Ave, Suite 300
Houston, TX 77042
Phone: 713-650-1212
Direct: 713-600-0136
Email: ethompson@plsenergyadvisors.com
Questions Regarding This Asset? Email Eric Thompson or call PLS at 713-650-1212

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Questions Regarding This Asset?
Email: Eric Thompson
Call: 713-650-1212



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