oil & gas assets

producing propertyFOREMAN BUTTE PROJECT (SAMSON)

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


FOREMAN BUTTE PROJECT (SAMSON)
WILLISTON BASIN SALE PACKAGE
179-Wells. 111-Operated. 57-NonOp.
NORTH DAKOTA & MONTANA
MULTIPAY.
Madison Group, Red River & Bakken
60+ Immediate PUD Opportunities
NonOperated WI Makes Up 10-15% PKG
65,060-Gross Acres / ~51,300 Net Acres.
Operated & NonOperated WI Available
2017 Net Production: 945 BOPD
38 Quick Workovers Add 560 BOPD
60 High IRR Infill PUDS Add 2,080 BOPD
Total Proved Rsrvs: 6,058 MBO & 4.3 BCF
PDP PV10: $38,600,000
Total Proved PV10: $91,000,000
LONG LIFE LOW DECLINE
SELLER REVIEWING OFFERS
PP 2400DV
Sale Points
THIS PACKAGE IS STILL FOR SALE AND PLS IS WRAPPING UP MARKETING.
Updates
02/22/18: Gross & Net Detailed LOE added and updated in the Accounting Folder in the Confidential section of the VDR.
01/03/18: Gross Detailed LOE added to the Accounting Folder in the Confidential section of the VDR.
01/02/18: PHDwin DB added to the Engineering Folder in the Confidential section of the VDR.
12/28/17: GeoModel & Reservoir Stimulation Documents added to the Geology Folder in the Confidential section of the VDR.
12/28/17: Equipment List & Due Diligence Report added to the Operations Folder in the Confidential section of the VDR.
12/28/17: Operations Update added to the Operations Folder in the Confidential section of the VDR.
12/19/17: Economic Runs By Well & Rsv Category added to the Engineering Folder in the Confidential section of the VDR.

Summary
PLS Energy Advisors Group has been retained by Samson Oil & Gas Limited to market their Williston Basin Properties. This opportunity is an Oil-weighted producing asset with scheduled upside & infill development program in place.

The properties consist of 65,060 gross acres (51,035 net acres) -100% HBP across Bowman, Divide, McKenzie & Williams Cos., ND and Dawson, Richland, Roosevelt & Sheridan Cos., MT. There are total of 111-Operated wells including 5-SWDs, 57 Non-Operated wells & 11-wells with ORRI. Average operated ownership interest is 87.5% WI & 70.5% NRI. Average non-operated ownership is 14.6% WI & 12.5% NRI.

Significant horizontal potential exists on the properties through 12 behind-pipe recompletion candidatess & 35-viable Madison Group PUD locations. Fresh-water cleanouts provide opportunities to enhance/increase production. An anticipated 560 BOPD can be added through $720,000 of immediate workovers available. Currently, Samson is seeing a 300% IRR for PUD locations with a low cost $375,000 laterals. There is 6,774 MBOE in Total Net Proved reserves with additional Probable reserves through 10-Nesson locations available.

Asset Highlights
-- 65,060 Gross Acres. 51,305 Net Acres (100% HBP)
-- 111-Operated wells: 836 BOPD Net 2017
-- Well established, low decline production
-- Average Operated 87.5% WI & 70.5% NRI
-- 57 Non-operated wells: 109 BOPD Net (27-producing)
-- Average Non-Operated 14.6% WI & 12.5% NRI
-- Operated Infrastructure: 5-SWD Wells
-- Includes ORRI in 11-Wells ranging from 0.01-1.97% ORRI: 64 BOPD Gross

Upside Potential
-- Enhance/increase production through fresh-water cleanouts
-- $720,000 in workovers to add 560 BOPD
-- 35-viable Madison Group (Ratcliffe) PUDs (4,360 ft)
-- 300% IRR PUD locations
-- Low cost $375,000 laterals from existing wellbores
-- 10-Nesson/Midale probable locations.

Scheduled Workover & Infill Drilling Program
-- Well established infill Madison analogs
-- One of few remaining Madison infill programs
-- Madison Group/Red River IP’s comparable to Bakken completions

Reserve Category
PDP Reserves: $38,618,000
PDNP Opportunities: $6,070,000
PUD Locations: $46,335,000
Total Proved Reserves: $91,043,000

Sale Process
This is a negotiated sale process.

Offers are encouraged during the process and may be accepted by the seller at anytime.

Below is the suggested marketing timetable:

Initial Marketing: 01/01/18 - 02/27/18
Seller's Data Room Opens: 01/03/18
Offers Due: 02/27/18
Closing: 03/15/18

An attempt to preempt the process has fallen through and PLS is actively engaging other potential purchasers or capital providers tok step in.

TO LEARN MORE
PLS Energy Advisors Group
Mr. Don McDonald
Managing Director
730 17th Street #840
Denver, CO 80206
Phone: 303-777-0041
Email: dmcdonald@plsenergyadvisors.com
Questions Regarding This Asset? Email Blake Dornak or call PLS at 713-600-0169

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Questions Regarding This Asset?
Email: Blake Dornak
Call: 713-600-0169



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