Brief Overview

Operating Company:

Novco Operating Company (NOC)

Proposal:

Drill one well in the Hrubetz “Ellen” Ellenburger Field to a depth of 4,600’ Well Logs: Well Logs show we have the potential of finding 100,000+ BOE/ WELL Wells in this field have averaged 114 BOEPD Objective: Ellenburger Formation, which underlies the subject oil and gas lease, between the subsurface depths of 4,350’-4,550’

Estimated Daily Rate Potential:

IP 45-200 BOEPD

Number of Wells:

One (1)

Lease Net Revenue (NRI):

75% (NRI) to 100% of Working Interests

Number of Units:

10

Cost Per Unit:

$49,150.00

Total Cost:

$491,500.00