Details - Information last confirmed on June 13, 2021

Existing well in California drilled to 10,900' with testing completed. In order to put online additional investment required for power transformer installation by PG&E and water filtration system that has been developed in-house and storage pond for produced water to be sold to farming operators.

During testing well produced 6,954 barrels of oil over intermittent testing over 167 days. Well grossed $357,857 @ $51.45 per barrel premium. 5 year net revenue estimated at $8 million at current oil price. There is a $420,000 first year tax deduction mandated IRS Intangible Drilling Cost on this investment. Estimated return on capital within 24-36 months. 30% ROI plus the tax deduction. Target oil production 100 to 300 bbls a day with a low decline curve.

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