
SALE OF NON-OPERATED
PRODUCING PROPERTIES AND LEASEHOLD
WOODFORD SHALE

- Concentrated in the W. Ammo area of Hughes County
- Located in core of Woodford horizontal play
- 655± net mineral acres in 11 sections
- Average Working Interest: 9.0%
- Projected for September 2008:
- 1,151 MCFD net production
- $190,709 net cash flow
- 25+ producing wells on line
- Expect 66 more Woodford wells to be drilled
- Experienced Operators: Devon & Newfield

| WELL NAME |
SEC |
TWN |
RGE |
COUNTY |
STATE |
RESERVOIR |
RSV_CAT |
OPERATOR |
SPYGLASS WI |
SPYGLASS NRI (incl ORRI) |
PHILCON WI |
PHILCON NRI |
| BULLOCK 1H-10 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #2 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #3 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #4 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #5 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #6 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #7 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| Sec 10 2N 10E Well #8 |
10 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.05575150 |
0.04389533 |
0.00293420 |
0.00229646 |
| EDDINGS 1H-16 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #2 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #3 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #4 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #5 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #6 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #7 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| Sec 16 2N 10E Well #8 |
16 |
2N |
10E |
COAL |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.14288072 |
0.11254082 |
0.00752004 |
0.00593222 |
| BREWER 1-13H |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #2 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #3 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #4 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #5 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #6 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #7 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| Sec 13 4N 10E Well #8 |
13 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.10368748 |
0.09085692 |
0.00479407 |
0.00386647 |
| PEARSON 1-24H |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #2 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #3 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #4 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #5 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #6 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #7 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| Sec 24 4N 10E Well #8 |
24 |
4N |
10E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.13389674 |
0.11352825 |
0.00638141 |
0.00509934 |
| AYERS 1-7H |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| AYERS 2-7H |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| BROOK 1-7H |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| Sec 7 4N 11E Well #5 |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| Sec 7 4N 11E Well #6 |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| Sec 7 4N 11E Well #7 |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| Sec 7 4N 11E Well #8 |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825146 |
0.06092129 |
0.00349046 |
0.00275908 |
| WILLIAMS 1-7H |
7 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.07825145 |
0.06092129 |
0.00349046 |
0.00275908 |
| CATTLE 1H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.01932250 |
0.01609290 |
0.00078090 |
0.00060817 |
| CATTLE 2H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.01932250 |
0.01609283 |
0.00078090 |
0.00060817 |
| CATTLE 3H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.01932250 |
0.01609283 |
0.00078090 |
0.00060817 |
| CATTLE 4H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.01932250 |
0.01609305 |
0.00078090 |
0.00060817 |
| CATTLE 6H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.01932250 |
0.01609305 |
0.00078090 |
0.00060817 |
| CATTLE 7H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.01932250 |
0.01609305 |
0.00078090 |
0.00060817 |
| CATTLE 8H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.01932250 |
0.01609305 |
0.00078090 |
0.00060817 |
| CATTLE 9H-8 |
8 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.01932250 |
0.01609305 |
0.00078090 |
0.00060817 |
| Sec 9 4N 11E Well #2 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| Sec 9 4N 11E Well #3 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| Sec 9 4N 11E Well #4 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| Sec 9 4N 11E Well #5 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| Sec 9 4N 11E Well #6 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| Sec 9 4N 11E Well #7 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| Sec 9 4N 11E Well #8 |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| SHIRLEY 1-9H |
9 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.12645570 |
0.09973670 |
0.00341097 |
0.00268774 |
| CLIFT 1-16H |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| HOLLOWAY 1-16H |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| HOLLOWAY 2-16H |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| HOLLOWAY 3-16H |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| Sec 16 4N 11E Well #5 |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| Sec 16 4N 11E Well #6 |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| Sec 16 4N 11E Well #7 |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| Sec 16 4N 11E Well #8 |
16 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.05323942 |
0.05875732 |
0.00280207 |
0.00236533 |
| BURTON 1H-17 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02848695 |
0.02469753 |
0.00143150 |
0.00115951 |
| BURTON 2H-17 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02733380 |
0.02380573 |
0.00143150 |
0.00115951 |
| BURTON 3H-17 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02733380 |
0.02380573 |
0.00143150 |
0.00115951 |
| BURTON 4H-17 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02733378 |
0.02380573 |
0.00143150 |
0.00115951 |
| BURTON 5H-17 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02733378 |
0.02380573 |
0.00143150 |
0.00115951 |
| Sec 17 4N 11E Well #6 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02733378 |
0.02380573 |
0.00143150 |
0.00115951 |
| Sec 17 4N 11E Well #7 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02733378 |
0.02380573 |
0.00143150 |
0.00115951 |
| Sec 17 4N 11E Well #8 |
17 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02733378 |
0.02380573 |
0.00143150 |
0.00115951 |
| Sec 18 4N 11E Well #3 |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| Sec 18 4N 11E Well #4 |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| Sec 18 4N 11E Well #5 |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| Sec 18 4N 11E Well #6 |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| Sec 18 4N 11E Well #7 |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| Sec 18 4N 11E Well #8 |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| WILLIAMS 1-18H |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
DEVON |
0.00000000 |
0.00859379 |
0.00000000 |
0.00000000 |
| WILLIAMS 2-18H |
18 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
DEVON |
0.21718750 |
0.17049219 |
0.01085938 |
0.00852461 |
| MOONEY 1H-19 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02104580 |
0.01673420 |
0.00000000 |
0.00000000 |
| MOONEY 2H-19 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
| MOONEY 3H-19 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PDP |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
| Sec 19 4N 11E Well #4 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
| Sec 19 4N 11E Well #5 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
| Sec 19 4N 11E Well #6 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
| Sec 19 4N 11E Well #7 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
| Sec 19 4N 11E Well #8 |
19 |
4N |
11E |
HUGHES |
OK |
WOODFORD SHALE |
PUD |
NEWFIELD |
0.02053800 |
0.01668365 |
0.00050780 |
0.00039608 |
|