----

|   | Hohn Engineering,      PLLC           |
|--------|---------------------------------------|
| [logo] | 2708      1st Avenue North, Suite 200 |
|   | Billings,      MT  59101    |
|   | 406-655-3381                          | Fax      406-655-3383 | Email:      hohneng@hohneng.com |

| FX      Producing Company           |
|-------------------------------------|
| Effective      Date January 1, 2010 |
|                                | Proved      Developed |
|                                | Producing      Reserves |
| Net      Oil Reserves, STB          | 462,528 |
| Net      Gas Reserves, MCF          | 0 |
| Future      Net Revenue, $          | 22,049,875 |
| Investment,      $                  | 0 |
| Future      Net Cash Flow           | 5,716,114 |
| Undiscounted,      $                |   |
| Future      Net Cash Flow           | 3,499,268 |
| 10%      Discount, $                |   |

----

----

|              | Gross      Production | Net      Production | Average      Prices | Sales   |
|-------------------|-----------------------|---------------------|---------------------|---------|
| Well              | Oil                   | Gas                 | Oil                 | Gas     | Oil | Gas | Total |
| Date              | Count                 | (Bbl)               | (Mcf)               | (Bbl)   | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 6                     | 88,984              | 0                   | 57,472  | 0 | 49.17 | 0.00 | 2,825,953 |
| 12/2011           | 6                     | 78,356              | 0                   | 54,014  | 0 | 49.20 | 0.00 | 2,657,524 |
| 12/2012           | 4                     | 66,482              | 0                   | 49,885  | 0 | 49.28 | 0.00 | 2,458,519 |
| 12/2013           | 4                     | 60,402              | 0                   | 47,347  | 0 | 49.28 | 0.00 | 2,333,348 |
| 12/2014           | 4                     | 57,082              | 0                   | 44,956  | 0 | 49.28 | 0.00 | 2,215,303 |
| 12/2015           | 4                     | 53,963              | 0                   | 42,689  | 0 | 49.27 | 0.00 | 2,103,402 |
| 12/2016           | 4                     | 51,030              | 0                   | 40,541  | 0 | 49.27 | 0.00 | 1,997,314 |
| 12/2017           | 4                     | 48,272              | 0                   | 38,505  | 0 | 49.26 | 0.00 | 1,896,725 |
| 12/2018           | 3                     | 41,586              | 0                   | 33,444  | 0 | 49.25 | 0.00 | 1,647,256 |
| 12/2019           | 2                     | 4,075               | 0                   | 1,561   | 0 | 37.09 | 0.00 | 57,909 |
| 12/2020           | 2                     | 3,777               | 0                   | 1,502   | 0 | 36.97 | 0.00 | 55,527 |
| 12/2021           | 2                     | 3,507               | 0                   | 1,447   | 0 | 36.85 | 0.00 | 53,322 |
| 12/2022           | 2                     | 3,263               | 0                   | 1,395   | 0 | 36.75 | 0.00 | 51,276 |
| 12/2023           | 2                     | 3,043               | 0                   | 1,347   | 0 | 36.65 | 0.00 | 49,375 |
| 12/2024           | 2                     | 2,843               | 0                   | 1,302   | 0 | 36.55 | 0.00 | 47,604 |
| Remainder:        |                  | 58,610              | 0                   | 45,119  | 0 | 35.45 | 0.00 | 1,599,519 |
| Grand      Total: |                  | 625,275             | 0                   | 462,528 | 0 | 47.64 | 0.00 | 22,049,875 |

|              | Operating  |      | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|------------|-----------|-----------|-------|----------------|----------------|----------------|
| Date              | Expenses   | Taxes     | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
|              | ($)        | ($)       | ($)       | ($)   | ($)            | ($)            | ($)            |
| 12/2010           | 1,680,173  | 176,904   | 968,876   | 0     | 968,876        | 968,876        | 921,612        |
| 12/2011           | 1,668,793  | 166,416   | 822,314   | 0     | 822,314        | 1,791,190      | 711,171        |
| 12/2012           | 1,611,193  | 153,988   | 693,338   | 0     | 693,338        | 2,484,528      | 545,124        |
| 12/2013           | 1,610,693  | 146,225   | 576,430   | 0     | 576,430        | 3,060,958      | 412,085        |
| 12/2014           | 1,610,693  | 138,934   | 465,676   | 0     | 465,676        | 3,526,634      | 302,725        |
| 12/2015           | 1,610,693  | 132,014   | 360,696   | 0     | 360,696        | 3,887,329      | 213,251        |
| 12/2016           | 1,610,693  | 125,445   | 261,176   | 0     | 261,176        | 4,148,506      | 140,472        |
| 12/2017           | 1,610,693  | 119,209   | 166,822   | 0     | 166,822        | 4,315,328      | 81,683         |
| 12/2018           | 1,464,591  | 104,529   | 78,136    | 0     | 78,136         | 4,393,464      | 34,922         |
| 12/2019           | 9,494      | 5,668     | 42,747    | 0     | 42,747         | 4,436,210      | 17,230         |
| 12/2020           | 9,494      | 5,505     | 40,528    | 0     | 40,528         | 4,476,738      | 14,851         |
| 12/2021           | 9,494      | 5,350     | 38,477    | 0     | 38,477         | 4,515,215      | 12,818         |
| 12/2022           | 9,494      | 5,202     | 36,579    | 0     | 36,579         | 4,551,795      | 11,077         |
| 12/2023           | 9,494      | 5,061     | 34,819    | 0     | 34,819         | 4,586,614      | 9,586          |
| 12/2024           | 9,494      | 4,927     | 33,183    | 0     | 33,183         | 4,619,797      | 8,305          |
| Remainder:        | 308,831    | 194,371   | 1,096,317 | 0     | 1,096,317      | 5,716,114      | 62,358         |
| Grand      Total: | 14,844,012 | 1,489,749 | 5,716,114 | 0     | 5,716,114      | 5,716,114      | 3,499,268      |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:     |                   |                |
|------------------------------|----------------------|-----------------------------|------------------------|---------------------|
| 0.00      %                  | 5,716,114            | Effective      Date         | 01/2010                |                | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 3,499,268            | Calculated      Limit       | 12/2109                | Ultimate      Gross | 7,553,599 | 101,489 |
| 20.00      %                 | 2,758,420            | Economic      Life          | 1200      Months       | Historic      Gross | 6,917,460 | 101,489 |
| 30.00      %                 | 2,305,801            | 100      Years 0 Months     | Gross      at Eff Date | 6,928,324           | 101,489 |
| 40.00      %                 | 1,994,925            | Economics      Information: | Remaining      Gross   | 625,275             | 0 |
| 50.00      %                 | 1,767,889            | Net      Payout Date:       | 01/2010                | Remaining      Net  | 462,528 | 0 |
| 60.00      %                 | 1,594,918            | Rate      of Return:        | >100      %         |                |   |   |
| 70.00      %                 | 1,458,829            | Return      on Investment:  | 0.00                   |                |   |   |
| 80.00      %                 | 1,348,981            | Disc      Return on Invest: | 0.00                   |                |   |   |
| 90.00      %                 | 1,258,440            |                        |                   |                |   |
| 100.00      %                | 1,182,499            |                        |                   |                |   |

----

|     | Well   | Days      | Oil       | Gas     | Water      | Injection  |
|----------|--------|-----------|-----------|---------|------------|------------|
| Date     | Count  | On        | (bbl)     | (mcf)   | (bbl)      | (bbl)      |
|     |   |      |      |    |       |       |
| Previous |   | 1,212,710 | 6,809,001 | 100,764 | 54,555,914 | 27,378,152 |
| 12/2008  | 163    | 3,727     | 8,979     | 49      | 155,764    | 223,104    |
| 01/2009  | 162    | 3,505     | 8,860     | 48      | 129,788    | 190,921    |
| 02/2009  | 160    | 3,340     | 9,492     | 71      | 140,707    | 198,355    |
| 03/2009  | 160    | 3,763     | 10,452    | 81      | 155,680    | 215,504    |
| 04/2009  | 160    | 3,658     | 10,129    | 79      | 151,785    | 201,213    |
| 05/2009  | 159    | 3,584     | 10,016    | 82      | 143,336    | 204,692    |
| 06/2009  | 160    | 3,675     | 10,006    | 71      | 168,717    | 206,496    |
| 07/2009  | 157    | 3,585     | 9,779     | 79      | 148,582    | 207,236    |
| 08/2009  | 156    | 3,705     | 8,700     | 46      | 140,684    | 196,641    |
| 09/2009  | 150    | 3,449     | 7,780     | 69      | 140,531    | 202,743    |
| 10/2009  | 148    | 3,475     | 7,376     | 50      | 143,971    | 209,928    |
| 11/2009  | 151    | 3,499     | 6,890     | 0       | 150,636    | 200,312    |
|     |   |      |      |    |       |       |
| Total:   |   | 1,255,675 | 6,917,460 | 101,489 | 56,326,095 | 29,835,297 |

----

|                                                  | -GROSS      PRODUCTION- | ---NET      PRODUCTION--- | ----SALES--  | -------------------EXPENSES------------- | ----NET      CASH FLOW-- |
|-------------------------------------------------------|-------------------------|---------------------------|--------------|------------------------------------------|--------------------------|
|                                                  | BBL      OIL            | MCF      GAS              | BBL      OIL | MCF      GAS                             | TOTAL      $             | ALL      TAXES | TOT      COSTS | CAPITAL | CUMULATIVE | 10      DISCNT |
|                                                  |                    |                      |         |                                     |                     |   |   |   |   |   |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        BEARS      DEN SWIFT SAND UNIT SUMMARY () | 4,435                   | 0                         | 3,473        | 0                                        | 160,382                  | 10,040 | 125,180 | 0 | 25,162 | 23,688 |
|                                                  |                    |                      |         |                                     |                     |   |   |   |   |   |
|        RIECKHOFF      A ()                       | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                  |                    |                      |         |                                     |                     |   |   |   |   |   |
|        SWCBSU      SUMMARY ()                    | 440,221                 | 0                         | 380,289      | 0                                        | 18,984,023               | 1,188,400 | 14,051,436 | 0 | 3,744,187 | 2,895,652 |
|                                                  |                    |                      |         |                                     |                     |   |   |   |   |   |
|        TRIBAL      (1186)                        | 80,118                  | 0                         | 64,094       | 0                                        | 2,268,298                | 278,093 | 348,000 | 0 | 1,642,204 | 363,338 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        TRIBAL      1466 ()                       | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        TYLER      C WATERFLOOD ()                | 26,029                  | 0                         | 148          | 0                                        | 6,407                    | 817 | 2,901 | 0 | 2,689 | 2,506 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        BACON      FLAT FEDERAL (23-17A)          | 55,883                  | 0                         | 7,260        | 0                                        | 315,317                  | 8,121 | 103,245 | 0 | 203,952 | 136,918 |
|                                                  |                    |                      |         |                                     |                     |   |   |   |   |   |
|        MUNSON      RANCH (13-1)                  | 18,589                  | 0                         | 7,263        | 0                                        | 315,449                  | 4,278 | 213,251 | 0 | 97,920 | 77,166 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        MUNSON      RANCH (13-45)                 | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        MUNSON      RANCH (13-46)                 | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        MUNSON      RANCH (14-33)                 | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        MUNSON      RANCH (14-49)                 | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|        MUNSON      RANCH (14-49X)                | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|  TRAP      SPRINGS - MUNSON RANCH (14-42)        | 0                       | 0                         | 0            | 0                                        | 0                        | 0 | 0 | 0 | 0 | 0 |
|                                                       |                    |                      |         |                                     |                     |   |   |   |   |   |
|  Grand      Total:                               | 625,275                 | 0                         | 462,527      | 0                                        | 22,049,876               | 1,489,749 | 14,844,013 | 0 | 5,716,114 | 3,499,268 |

----

| Lease      Name: BEARS DEN SWIFT SAND UNIT SUMMARY () | Operator:      FX PRODUCING CO                      |
|-------------------------------------------------------|-----------------------------------------------------|
| County,      ST: LIBERTY, MT                          | Field      Name: BEARS DEN                          |
| Location:      T36N R6E S 7-8, 17-18                  | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales  |
|-------------------|--------|-----------------------|---------------------|---------------------|--------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas    | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf)  | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 1      | 2,609                 | 0                   | 2,043               | 0      | 46.18 | 0.00 | 94,342 |
| 10/2011           | 1      | 1,826                 | 0                   | 1,430               | 0      | 46.18 | 0.00 | 66,040 |
| Grand      Total: |   | 4,435                 | 0                   | 3,473               | 0      | 46.18 | 0.00 | 160,382 |
|              |   |                  |                |                |   |   |   |   |
|              |   | Operating             |                | Operating           | Other  | Periodic | Cumulative | 10% |
| Date              |   | Expenses              | Taxes               | Income              | Costs  | Cash      Flow | Cash      Flow | Cash      Flow |
|              |   | ($)                   | ($)                 | ($)                 | ($)    | ($) | ($) | ($) |
| 12/2010           |   | 68,280                | 5,906               | 20,156              | 0      | 20,156 | 20,156 | 19,275 |
| 10/2011           |   | 56,900                | 4,134               | 5,006               | 0      | 5,006 | 25,162 | 4,413 |
| Grand      Total: |   | 125,180               | 10,040              | 25,162              | 0      | 25,162 | 25,162 | 23,688 |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 25,162               | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 23,688               | Calculated      Limit              | 10/2011                | Ultimate      Gross | 699,389 | 47,130 |
| 20.00      %                 | 22,450               | Economic      Life                 | 22      Months         | Historic      Gross | 694,713 | 47,130 |
| 30.00      %                 | 21,394               | 1      Year 10 Months              | Gross      at Eff Date | 694,954 | 47,130 |
| 40.00      %                 | 20,481               | Economics      Information:        | Remaining      Gross   | 4,435 | 0 |
| 50.00      %                 | 19,682               | Net      Payout Date:              | 01/2010                | Remaining      Net | 3,473 | 0 |
| 60.00      %                 | 18,977               | Rate      of Return:               | >100      %         |   |   |   |
| 70.00      %                 | 18,348               | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 17,784               | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 17,275               | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 16,812               | WI:                                | 100.000000             | Oil: | 78.300000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 78.300000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: BEARS DEN SWIFT SAND UNIT SUMMARY () | Operator:      FX PRODUCING CO |
|-------------------------------------------------------|--------------------------------|
| County,      ST: LIBERTY, MT                          | Field      Name: BEARS DEN     |
| Location:      T36N R6E S 7-8, 17-18                  |                           |

|     | Well   | Days   | Oil     | Gas    | Water   | Injection |
|----------|--------|--------|---------|--------|---------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)   | (bbl)     |
|     |   |   |    |   |    |      |
| Previous |   | 47,838 | 691,545 | 47,130 | 241,592 | 934,307   |
| 12/2008  | 6      | 155    | 292     | 0      | 760     | 1,794     |
| 01/2009  | 6      | 155    | 287     | 0      | 747     | 955       |
| 02/2009  | 6      | 140    | 257     | 0      | 668     | 4,219     |
| 03/2009  | 6      | 155    | 255     | 0      | 662     | 3,899     |
| 04/2009  | 6      | 150    | 279     | 0      | 724     | 4,514     |
| 05/2009  | 6      | 155    | 291     | 0      | 755     | 1,718     |
| 06/2009  | 6      | 150    | 241     | 0      | 629     | 3,831     |
| 07/2009  | 6      | 155    | 238     | 0      | 621     | 3,847     |
| 08/2009  | 6      | 155    | 269     | 0      | 702     | 3,946     |
| 09/2009  | 6      | 150    | 275     | 0      | 717     | 3,624     |
| 10/2009  | 6      | 155    | 276     | 0      | 822     | 4,119     |
| 11/2009  | 6      | 150    | 208     | 0      | 619     | 3,932     |
|     |   |   |    |   |    |      |
| Total:   |   | 49,663 | 694,713 | 47,130 | 250,018 | 974,705   |

----

| Lease      Name: RIECKHOFF A () | Operator:      FX PRODUCING CO                      |
|---------------------------------|-----------------------------------------------------|
| County,      ST: GLACIER, MT    | Field      Name: CUT BANK                           |
| Location:      T32N R6W S36     | Reserve      Type/Class: Proved/Developed,Producing |

| Well              | Gross      Production | Net      Production |      |   |           |
|-------------------|-----------------------|---------------------|-----------|--------|----------------|
| Date              | Count                 | Oil                 | Gas       | Oil    | Gas            | Oil | Gas | Total |
|              | (Bbl)                 | (Mcf)               | (Bbl)     | (Mcf)  | ($/Bbl)        | ($/Mcf) | ($) |
| Grand      Total: | 0                     | 0                   | 0         | 0      | 0.00           | 0.00 | 0 |
|              | Operating             |                | Operating | Other  | Periodic       | Cumulative | 10% |
| Date              | Expenses              | Taxes               | Income    | Costs  | Cash      Flow | Cash      Flow | Cash      Flow |
|              | ($)                   | ($)                 | ($)       | ($)    | ($)            | ($) | ($) |
| Grand      Total: | 0                     | 0                   | 0         | 0      | 0              | 0 | 0 |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 927,829 | 328 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 927,642 | 328 |
| 30.00      %                 | 0                    | 0      Year 0 Months               | Gross      at Eff Date | 927,829 | 328 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 100.000000             | Oil: | 81.500000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 81.500000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: RIECKHOFF A () | Operator:      FX PRODUCING CO |
|---------------------------------|--------------------------------|
| County,      ST: GLACIER, MT    | Field      Name: CUT BANK      |
| Location:      T32N R6W S36     |                           |

|     | Well   | Days   | Oil     | Gas    | Water     | Injection |
|----------|--------|--------|---------|--------|-----------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)     | (bbl)     |
|     |   |   |    |   |      |      |
| Previous |   | 57,397 | 925,602 | 328    | 2,467,707 | 3,419,521 |
| 12/2008  | 10     | 149    | 172     | 0      | 6,550     | 31,048    |
| 01/2009  | 10     | 149    | 170     | 0      | 5,970     | 25,445    |
| 02/2009  | 10     | 104    | 160     | 0      | 5,617     | 27,778    |
| 03/2009  | 10     | 151    | 196     | 0      | 6,880     | 31,676    |
| 04/2009  | 10     | 144    | 180     | 0      | 6,317     | 32,282    |
| 05/2009  | 10     | 89     | 134     | 0      | 8,232     | 36,394    |
| 06/2009  | 10     | 143    | 185     | 0      | 11,365    | 33,169    |
| 07/2009  | 10     | 130    | 164     | 0      | 10,074    | 33,917    |
| 08/2009  | 10     | 131    | 187     | 0      | 11,487    | 33,283    |
| 09/2009  | 10     | 144    | 157     | 0      | 9,644     | 33,369    |
| 10/2009  | 10     | 138    | 210     | 0      | 12,899    | 37,255    |
| 11/2009  | 9      | 87     | 125     | 0      | 15,366    | 32,952    |
|     |   |   |    |   |      |      |
| Total:   |   | 58,956 | 927,642 | 328    | 2,578,108 | 3,808,089 |

----

| Lease      Name: SWCBSU SUMMARY ()   | Operator:      FX PRODUCING CO                      |
|--------------------------------------|-----------------------------------------------------|
| County,      ST: GLACIER/PONDERA, MT | Field      Name: SW CUT BANK SAND UNIT              |
| Location:      0-0-0                 | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 1      | 59,967                | 0                   | 51,803              | 0     | 49.92 | 0.00 | 2,586,021 |
| 12/2011           | 1      | 56,969                | 0                   | 49,213              | 0     | 49.92 | 0.00 | 2,456,720 |
| 12/2012           | 1      | 54,120                | 0                   | 46,752              | 0     | 49.92 | 0.00 | 2,333,884 |
| 12/2013           | 1      | 51,414                | 0                   | 44,415              | 0     | 49.92 | 0.00 | 2,217,190 |
| 12/2014           | 1      | 48,844                | 0                   | 42,194              | 0     | 49.92 | 0.00 | 2,106,330 |
| 12/2015           | 1      | 46,402                | 0                   | 40,084              | 0     | 49.92 | 0.00 | 2,001,014 |
| 12/2016           | 1      | 44,081                | 0                   | 38,080              | 0     | 49.92 | 0.00 | 1,900,963 |
| 12/2017           | 1      | 41,877                | 0                   | 36,176              | 0     | 49.92 | 0.00 | 1,805,915 |
| 11/2018           | 1      | 36,546                | 0                   | 31,570              | 0     | 49.92 | 0.00 | 1,575,988 |
| Grand      Total: |   | 440,221               | 0                   | 380,289             | 0     | 49.92 | 0.00 | 18,984,023 |

|              | Operating  |      | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|------------|-----------|-----------|-------|----------------|----------------|----------------|
|              | Expenses   | Taxes     | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)        | ($)       | ($)       | ($)   | ($)            | ($)            | ($)            |
| 12/2010           | 1,575,862  | 161,885   | 848,274   | 0     | 848,274        | 848,274        | 806,826        |
| 12/2011           | 1,575,862  | 153,791   | 727,067   | 0     | 727,067        | 1,575,341      | 628,753        |
| 12/2012           | 1,575,862  | 146,101   | 611,921   | 0     | 611,921        | 2,187,262      | 481,149        |
| 12/2013           | 1,575,862  | 138,796   | 502,532   | 0     | 502,532        | 2,689,793      | 359,297        |
| 12/2014           | 1,575,862  | 131,856   | 398,612   | 0     | 398,612        | 3,088,405      | 259,174        |
| 12/2015           | 1,575,862  | 125,263   | 299,888   | 0     | 299,888        | 3,388,293      | 177,352        |
| 12/2016           | 1,575,862  | 119,000   | 206,101   | 0     | 206,101        | 3,594,394      | 110,913        |
| 12/2017           | 1,575,862  | 113,050   | 117,003   | 0     | 117,003        | 3,711,396      | 57,375         |
| 11/2018           | 1,444,540  | 98,657    | 32,791    | 0     | 32,791         | 3,744,187      | 14,813         |
| Grand      Total: | 14,051,436 | 1,188,400 | 3,744,187 | 0     | 3,744,187      | 3,744,187      | 2,895,652      |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 3,744,187            | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 2,895,652            | Calculated      Limit              | 11/2018                | Ultimate      Gross | 3,761,863 | 8,444 |
| 20.00      %                 | 2,358,626            | Economic      Life                 | 107      Months        | Historic      Gross | 3,316,505 | 8,444 |
| 30.00      %                 | 1,995,326            | 8      Years 11 Months             | Gross      at Eff Date | 3,321,643 | 8,444 |
| 40.00      %                 | 1,736,209            | Economics      Information:        | Remaining      Gross   | 440,221 | 0 |
| 50.00      %                 | 1,543,399            | Net      Payout Date:              | 01/2010                | Remaining      Net | 380,289 | 0 |
| 60.00      %                 | 1,394,913            | Rate      of Return:               | >100%               |   |   |   |
| 70.00      %                 | 1,277,297            | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 1,181,930            | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 1,103,078            | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 1,036,791            | WI:                                | 99.606970              | Oil: | 86.386000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 86.386000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: SWCBSU SUMMARY ()   | Operator:      FX PRODUCING CO         |
|--------------------------------------|----------------------------------------|
| County,      ST: GLACIER/PONDERA, MT | Field      Name: SW CUT BANK SAND UNIT |
| Location:      0-0-0                 |                                   |

|     | Well   | Days      | Oil       | Gas    | Water      | Injection  |
|----------|--------|-----------|-----------|--------|------------|------------|
| Date     | Count  | On        | (bbl)     | (mcf)  | (bbl)      | (bbl)      |
|     |   |      |      |   |       |       |
| Previous |   | 1,030,629 | 3,254,262 | 8,444  | 50,362,736 | 21,896,915 |
| 12/2008  | 133    | 3,143     | 4,977     | 0      | 140,160    | 181,372    |
| 01/2009  | 133    | 2,926     | 4,934     | 0      | 113,937    | 154,831    |
| 02/2009  | 131    | 2,841     | 4,909     | 0      | 122,633    | 153,008    |
| 03/2009  | 131    | 3,167     | 5,360     | 0      | 133,826    | 164,389    |
| 04/2009  | 132    | 3,091     | 5,142     | 0      | 131,423    | 148,467    |
| 05/2009  | 131    | 3,058     | 4,956     | 0      | 117,388    | 150,050    |
| 06/2009  | 132    | 3,109     | 5,391     | 0      | 141,085    | 153,666    |
| 07/2009  | 129    | 3,017     | 5,448     | 0      | 120,827    | 153,002    |
| 08/2009  | 128    | 3,153     | 5,292     | 0      | 115,637    | 149,762    |
| 09/2009  | 129    | 3,067     | 5,294     | 0      | 119,280    | 152,880    |
| 10/2009  | 128    | 3,130     | 5,423     | 0      | 122,160    | 157,504    |
| 11/2009  | 129    | 3,079     | 5,117     | 0      | 129,885    | 163,428    |
|     |   |      |      |   |       |       |
| Total:   |   | 1,067,410 | 3,316,505 | 8,444  | 51,870,977 | 23,779,274 |

----

| Lease      Name:  TRIBAL (1186) | Operator:      FX DRILLING COMPANY                  |
|-------------------------------------------|-----------------------------------------------------|
| County,      ST: PONDERA, MT              | Field      Name: CUT BANK                           |
| Location:      6 31N 5W SE SW             | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 1      | 1,847                 | 0                   | 1,478               | 0     | 35.39 | 0.00 | 52,302 |
| 12/2011           | 1      | 1,810                 | 0                   | 1,448               | 0     | 35.39 | 0.00 | 51,256 |
| 12/2012           | 1      | 1,774                 | 0                   | 1,419               | 0     | 35.39 | 0.00 | 50,231 |
| 12/2013           | 1      | 1,739                 | 0                   | 1,391               | 0     | 35.39 | 0.00 | 49,227 |
| 12/2014           | 1      | 1,704                 | 0                   | 1,363               | 0     | 35.39 | 0.00 | 48,242 |
| 12/2015           | 1      | 1,670                 | 0                   | 1,336               | 0     | 35.39 | 0.00 | 47,277 |
| 12/2016           | 1      | 1,636                 | 0                   | 1,309               | 0     | 35.39 | 0.00 | 46,332 |
| 12/2017           | 1      | 1,604                 | 0                   | 1,283               | 0     | 35.39 | 0.00 | 45,405 |
| 12/2018           | 1      | 1,572                 | 0                   | 1,257               | 0     | 35.39 | 0.00 | 44,497 |
| 12/2019           | 1      | 1,540                 | 0                   | 1,232               | 0     | 35.39 | 0.00 | 43,607 |
| 12/2020           | 1      | 1,509                 | 0                   | 1,208               | 0     | 35.39 | 0.00 | 42,735 |
| 12/2021           | 1      | 1,479                 | 0                   | 1,183               | 0     | 35.39 | 0.00 | 41,880 |
| 12/2022           | 1      | 1,450                 | 0                   | 1,160               | 0     | 35.39 | 0.00 | 41,042 |
| 12/2023           | 1      | 1,421                 | 0                   | 1,137               | 0     | 35.39 | 0.00 | 40,222 |
| 12/2024           | 1      | 1,392                 | 0                   | 1,114               | 0     | 35.39 | 0.00 | 39,417 |
| Remainder:        |   | 55,970                | 0                   | 44,776              | 0     | 35.39 | 0.00 | 1,584,625 |
| Grand      Total: |   | 80,118                | 0                   | 64,094              | 0     | 35.39 | 0.00 | 2,268,298 |

|              | Operating |    | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|---------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes   | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)     | ($)       | ($)   | ($)            | ($)            | ($)            |
| 12/2010           | 3,480     | 6,412   | 42,410    | 0     | 42,410         | 42,410         | 40,298         |
| 12/2011           | 3,480     | 6,284   | 41,492    | 0     | 41,492         | 83,902         | 35,842         |
| 12/2012           | 3,480     | 6,158   | 40,593    | 0     | 40,593         | 124,495        | 31,877         |
| 12/2013           | 3,480     | 6,035   | 39,711    | 0     | 39,711         | 164,207        | 28,350         |
| 12/2014           | 3,480     | 5,914   | 38,848    | 0     | 38,848         | 203,054        | 25,212         |
| 12/2015           | 3,480     | 5,796   | 38,001    | 0     | 38,001         | 241,055        | 22,421         |
| 12/2016           | 3,480     | 5,680   | 37,171    | 0     | 37,171         | 278,226        | 19,937         |
| 12/2017           | 3,480     | 5,567   | 36,358    | 0     | 36,358         | 314,585        | 17,729         |
| 12/2018           | 3,480     | 5,455   | 35,562    | 0     | 35,562         | 350,146        | 15,764         |
| 12/2019           | 3,480     | 5,346   | 34,781    | 0     | 34,781         | 384,927        | 14,016         |
| 12/2020           | 3,480     | 5,239   | 34,016    | 0     | 34,016         | 418,943        | 12,461         |
| 12/2021           | 3,480     | 5,135   | 33,266    | 0     | 33,266         | 452,208        | 11,079         |
| 12/2022           | 3,480     | 5,032   | 32,531    | 0     | 32,531         | 484,739        | 9,849          |
| 12/2023           | 3,480     | 4,931   | 31,810    | 0     | 31,810         | 516,549        | 8,756          |
| 12/2024           | 3,480     | 4,833   | 31,105    | 0     | 31,105         | 547,654        | 7,783          |
| Remainder:        | 295,800   | 194,275 | 1,094,550 | 0     | 1,094,550      | 1,642,204      | 61,964         |
| Grand      Total: | 348,000   | 278,093 | 1,642,204 | 0     | 1,642,204      | 1,642,204      | 363,338        |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 1,642,204            | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 363,338              | Calculated      Limit              | 12/2109                | Ultimate      Gross | 184,394 | 570 |
| 20.00      %                 | 208,210              | Economic      Life                 | 1200      Months       | Historic      Gross | 103,808 | 570 |
| 30.00      %                 | 149,143              | 100      Years 0 Months            | Gross      at Eff Date | 104,276 | 570 |
| 40.00      %                 | 117,952              | Economics      Information:        | Remaining      Gross   | 80,118 | 0 |
| 50.00      %                 | 98,631               | Net      Payout Date:              | 01/2010                | Remaining      Net | 64,094 | 0 |
| 60.00      %                 | 85,462               | Rate      of Return:               | >100%               |   |   |   |
| 70.00      %                 | 75,893               | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 68,614               | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 62,883               | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 58,246               | WI:                                | 100.000000             | Oil: | 80.000000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 80.000000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name:  TRIBAL (1186) | Operator:      FX DRILLING COMPANY |
|-------------------------------------------|------------------------------------|
| County,      ST: PONDERA, MT              | Field      Name: CUT BANK          |
| Location:      6 31N 5W SE SW             |                               |

|     | Well   | Days   | Oil     | Gas    | Water  | Injection |
|----------|--------|--------|---------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |    |   |   |      |
| Previous |   | 9,302  | 101,953 | 570    | 0      | 0         |
| 10/2008  | 1      | 30     | 157     | 0      | 0      | 0         |
| 11/2008  | 1      | 30     | 152     | 0      | 0      | 0         |
| 12/2008  | 1      | 31     | 160     | 0      | 0      | 0         |
| 01/2009  | 1      | 31     | 157     | 0      | 0      | 0         |
| 02/2009  | 1      | 28     | 142     | 0      | 0      | 0         |
| 03/2009  | 1      | 31     | 160     | 0      | 0      | 0         |
| 04/2009  | 1      | 30     | 152     | 0      | 0      | 0         |
| 05/2009  | 1      | 31     | 157     | 0      | 0      | 0         |
| 06/2009  | 1      | 30     | 154     | 0      | 0      | 0         |
| 07/2009  | 1      | 31     | 156     | 0      | 0      | 0         |
| 08/2009  | 1      | 31     | 158     | 0      | 0      | 0         |
| 09/2009  | 1      | 30     | 150     | 0      | 0      | 0         |
| Total:   |   | 9,666  | 103,808 | 570    | 0      | 0         |

----

| Lease      Name:  TRIBAL 1466 () | Operator:      FX PRODUCING CO                      |
|--------------------------------------------|-----------------------------------------------------|
| County,      ST: GLACIER, MT               | Field      Name: CUT BANK                           |
| Location:      T32N R6W S27                | Reserve      Type/Class: Proved/Developed,Producing |

| Well              | Gross      Production | Net      Production |      |   |           |
|-------------------|-----------------------|---------------------|-----------|--------|----------------|
| Date              | Count                 | Oil                 | Gas       | Oil    | Gas            | Oil | Gas | Total |
|              | (Bbl)                 | (Mcf)               | (Bbl)     | (Mcf)  | ($/Bbl)        | ($/Mcf) | ($) |
| Grand      Total: | 0                     | 0                   | 0         | 0      | 0.00           | 0.00 | 0 |
|              | Operating             |                | Operating | Other  | Periodic       | Cumulative | 10% |
| Date              | Expenses              | Taxes               | Income    | Costs  | Cash      Flow | Cash      Flow | Cash      Flow |
|              | ($)                   | ($)                 | ($)       | ($)    | ($)            | ($) | ($) |
| Grand      Total: | 0                     | 0                   | 0         | 0      | 0              | 0 | 0 |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 183,711 | 2,330 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 183,590 | 2,330 |
| 30.00      %                 | 0                    | 0      Year 0 Months               | Gross      at Eff Date | 183,711 | 2,330 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 100.000000             | Oil: | 82.500000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 82.500000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name:  TRIBAL 1466 () | Operator:      FX PRODUCING CO |
|--------------------------------------------|--------------------------------|
| County,      ST: GLACIER, MT               | Field      Name: CUT BANK      |
| Location:      T32N R6W S27                |                           |

|     | Well   | Days   | Oil     | Gas    | Water  | Injection |
|----------|--------|--------|---------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |    |   |   |      |
| Previous |   | 14,772 | 183,390 | 2,330  | 51,815 | 0         |
| 04/2008  | 2      | 38     | 10      | 0      | 150    | 0         |
| 05/2008  | 2      | 41     | 10      | 0      | 150    | 0         |
| 06/2008  | 2      | 31     | 41      | 0      | 283    | 0         |
| 07/2008  | 2      | 42     | 7       | 0      | 61     | 0         |
| 08/2008  | 2      | 39     | 11      | 0      | 80     | 0         |
| 09/2008  | 2      | 40     | 15      | 0      | 91     | 0         |
| 10/2008  | 2      | 53     | 32      | 0      | 193    | 0         |
| 11/2008  | 2      | 50     | 20      | 0      | 180    | 0         |
| 12/2008  | 2      | 50     | 20      | 0      | 179    | 0         |
| 01/2009  | 1      | 31     | 11      | 0      | 57     | 0         |
| 02/2009  | 1      | 2      | 4       | 0      | 25     | 0         |
| 03/2009  | 1      | 9      | 19      | 0      | 75     | 0         |
| Total:   |   | 15,198 | 183,590 | 2,330  | 53,339 | 0         |

----

| Lease      Name: TYLER C WATERFLOOD() | Operator:      TYLER OIL CO                         |
|---------------------------------------|-----------------------------------------------------|
| County,      ST: ROSEBUD, MT          | Field      Name: EAST RATTLER BUTTE                 |
| Location:      T12N R33E S30-31       | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 1      | 14,657                | 0                   | 83                  | 0     | 43.41 | 0.00 | 3,608 |
| 12/2011           | 1      | 8,827                 | 0                   | 50                  | 0     | 43.41 | 0.00 | 2,173 |
| 05/2012           | 1      | 2,545                 | 0                   | 14                  | 0     | 43.41 | 0.00 | 626 |
| Grand      Total: |   | 26,029                | 0                   | 148                 | 0     | 43.41 | 0.00 | 6,407 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
| Date              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
|              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| 12/2010           | 1,200     | 460    | 1,947     | 0     | 1,947          | 1,947          | 1,862          |
| 12/2011           | 1,200     | 277    | 695       | 0     | 695            | 2,642          | 607            |
| 05/2012           | 500       | 80     | 46        | 0     | 46             | 2,689          | 38             |
| Grand      Total: | 2,901     | 817    | 2,689     | 0     | 2,689          | 2,689          | 2,506          |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 2,689                | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 2,506                | Calculated      Limit              | 05/2012                | Ultimate      Gross | 677,239 | 42,687 |
| 20.00      %                 | 2,356                | Economic      Life                 | 29      Months         | Historic      Gross | 647,960 | 42,687 |
| 30.00      %                 | 2,229                | 2      Years 5 Months              | Gross      at Eff Date | 651,210 | 42,687 |
| 40.00      %                 | 2,122                | Economics      Information:        | Remaining      Gross   | 26,029 | 0 |
| 50.00      %                 | 2,028                | Net      Payout Date:              | 01/2010                | Remaining      Net | 148 | 0 |
| 60.00      %                 | 1,947                | Rate      of Return:               | >100%               |   |   |   |
| 70.00      %                 | 1,875                | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 1,811                | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 1,753                | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 1,701                | WI:                                | 0.682713               | Oil: | 0.567000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 0.567000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: TYLER C WATERFLOOD() | Operator:      TYLER OIL CO         |
|---------------------------------------|-------------------------------------|
| County,      ST: ROSEBUD, MT          | Field      Name: EAST RATTLER BUTTE |
| Location:      T12N R33E S30-31       |                                |

|     | Well   | Days   | Oil     | Gas    | Water   | Injection |
|----------|--------|--------|---------|--------|---------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)   | (bbl)     |
|     |   |   |    |   |    |      |
| Previous |   | 10,485 | 621,278 | 41,891 | 758,397 | 1,109,469 |
| 11/2008  | 4      | 57     | 2,470   | 71     | 10,130  | 17,940    |
| 12/2008  | 4      | 40     | 2,107   | 49     | 6,780   | 8,890     |
| 01/2009  | 4      | 40     | 1,646   | 48     | 7,330   | 9,690     |
| 02/2009  | 4      | 54     | 2,479   | 71     | 9,300   | 13,350    |
| 03/2009  | 4      | 62     | 2,790   | 81     | 11,530  | 15,540    |
| 04/2009  | 4      | 60     | 2,821   | 79     | 11,330  | 15,950    |
| 05/2009  | 4      | 62     | 2,890   | 82     | 11,390  | 16,530    |
| 06/2009  | 4      | 59     | 2,519   | 71     | 10,410  | 15,830    |
| 07/2009  | 4      | 62     | 2,242   | 79     | 11,670  | 16,470    |
| 08/2009  | 4      | 52     | 1,347   | 46     | 7,300   | 9,650     |
| 09/2009  | 4      | 58     | 1,904   | 69     | 10,890  | 12,870    |
| 10/2009  | 4      | 52     | 1,467   | 50     | 8,090   | 11,050    |
|     |   |   |    |   |    |      |
| Total:   |   | 11,143 | 647,960 | 42,687 | 874,547 | 1,273,229 |

----

| Lease      Name: BACON FLAT FEDERAL (23-17A) | Operator:      DOUBLE D NEVADA                      |
|----------------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV                     | Field      Name: BACON FLAT                         |
| Location:      17 7N 57E SW NE SW            | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 1      | 6,919                 | 0                   | 899                 | 0     | 43.43 | 0.00 | 39,041 |
| 12/2011           | 1      | 6,189                 | 0                   | 804                 | 0     | 43.43 | 0.00 | 34,919 |
| 12/2012           | 1      | 5,535                 | 0                   | 719                 | 0     | 43.43 | 0.00 | 31,232 |
| 12/2013           | 1      | 4,951                 | 0                   | 643                 | 0     | 43.43 | 0.00 | 27,935 |
| 12/2014           | 1      | 4,428                 | 0                   | 575                 | 0     | 43.43 | 0.00 | 24,985 |
| 12/2015           | 1      | 3,961                 | 0                   | 515                 | 0     | 43.43 | 0.00 | 22,347 |
| 12/2016           | 1      | 3,542                 | 0                   | 460                 | 0     | 43.43 | 0.00 | 19,988 |
| 12/2017           | 1      | 3,168                 | 0                   | 412                 | 0     | 43.43 | 0.00 | 17,878 |
| 12/2018           | 1      | 2,834                 | 0                   | 368                 | 0     | 43.43 | 0.00 | 15,990 |
| 12/2019           | 1      | 2,535                 | 0                   | 329                 | 0     | 43.43 | 0.00 | 14,302 |
| 12/2020           | 1      | 2,267                 | 0                   | 295                 | 0     | 43.43 | 0.00 | 12,792 |
| 12/2021           | 1      | 2,028                 | 0                   | 263                 | 0     | 43.43 | 0.00 | 11,441 |
| 12/2022           | 1      | 1,814                 | 0                   | 236                 | 0     | 43.43 | 0.00 | 10,233 |
| 12/2023           | 1      | 1,622                 | 0                   | 211                 | 0     | 43.43 | 0.00 | 9,153 |
| 12/2024           | 1      | 1,451                 | 0                   | 189                 | 0     | 43.43 | 0.00 | 8,187 |
| Remainder:        |   | 2,640                 | 0                   | 343                 | 0     | 43.43 | 0.00 | 14,894 |
| Grand      Total: |   | 55,883                | 0                   | 7,260               | 0     | 43.43 | 0.00 | 315,317 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| 12/2010           | 6,014     | 1,243  | 31,784    | 0     | 31,784         | 31,784         | 30,228         |
| 12/2011           | 6,014     | 1,089  | 27,815    | 0     | 27,815         | 59,599         | 24,049         |
| 12/2012           | 6,014     | 952    | 24,266    | 0     | 24,266         | 83,865         | 19,073         |
| 12/2013           | 6,014     | 829    | 21,091    | 0     | 21,091         | 104,956        | 15,072         |
| 12/2014           | 6,014     | 720    | 18,251    | 0     | 18,251         | 123,208        | 11,857         |
| 12/2015           | 6,014     | 621    | 15,712    | 0     | 15,712         | 138,920        | 9,280          |
| 12/2016           | 6,014     | 534    | 13,440    | 0     | 13,440         | 152,360        | 7,217          |
| 12/2017           | 6,014     | 455    | 11,409    | 0     | 11,409         | 163,769        | 5,569          |
| 12/2018           | 6,014     | 385    | 9,591     | 0     | 9,591          | 173,360        | 4,257          |
| 12/2019           | 6,014     | 322    | 7,966     | 0     | 7,966          | 181,326        | 3,214          |
| 12/2020           | 6,014     | 266    | 6,512     | 0     | 6,512          | 187,838        | 2,389          |
| 12/2021           | 6,014     | 215    | 5,212     | 0     | 5,212          | 193,050        | 1,739          |
| 12/2022           | 6,014     | 170    | 4,049     | 0     | 4,049          | 197,098        | 1,228          |
| 12/2023           | 6,014     | 130    | 3,009     | 0     | 3,009          | 200,107        | 830            |
| 12/2024           | 6,014     | 94     | 2,078     | 0     | 2,078          | 202,185        | 522            |
| Remainder:        | 13,031    | 96     | 1,767     | 0     | 1,767          | 203,952        | 394            |
| Grand      Total: | 103,245   | 8,121  | 203,952   | 0     | 203,952        | 203,952        | 136,918        |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 203,952              | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 136,918              | Calculated      Limit              | 02/2027                | Ultimate      Gross | 491,688 | 0 |
| 20.00      %                 | 103,063              | Economic      Life                 | 206      Months        | Historic      Gross | 435,192 | 0 |
| 30.00      %                 | 83,263               | 17      Years 2 Months             | Gross      at Eff Date | 435,804 | 0 |
| 40.00      %                 | 70,426               | Economics      Information:        | Remaining      Gross   | 55,883 | 0 |
| 50.00      %                 | 61,467               | Net      Payout Date:              | 01/2010                | Remaining      Net | 7,260 | 0 |
| 60.00      %                 | 54,866               | Rate      of Return:               | >100%               |   |   |   |
| 70.00      %                 | 49,800               | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 45,786               | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 42,523               | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 39,817               | WI:                                | 16.875000              | Oil: | 12.992000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 12.992000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: BACON FLAT FEDERAL (23-17A) | Operator:      DOUBLE D NEVADA |
|----------------------------------------------|--------------------------------|
| County,      ST: NYE, NV                     | Field      Name: BACON FLAT    |
| Location:      17 7N 57E SW NE SW            |                           |

|     | Well   | Days   | Oil     | Gas    | Water   | Injection |
|----------|--------|--------|---------|--------|---------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)   | (bbl)     |
|     |   |   |    |   |    |      |
| Previous |   | 5,197  | 428,747 | 0      | 387,898 | 0         |
| 12/2008  | 1      | 25     | 507     | 0      | 128     | 0         |
| 01/2009  | 1      | 26     | 617     | 0      | 460     | 0         |
| 02/2009  | 1      | 28     | 667     | 0      | 1,157   | 0         |
| 03/2009  | 1      | 31     | 737     | 0      | 1,263   | 0         |
| 04/2009  | 1      | 30     | 666     | 0      | 593     | 0         |
| 05/2009  | 1      | 31     | 688     | 0      | 4,111   | 0         |
| 06/2009  | 1      | 30     | 636     | 0      | 3,815   | 0         |
| 07/2009  | 1      | 30     | 676     | 0      | 3,930   | 0         |
| 08/2009  | 1      | 31     | 654     | 0      | 4,200   | 0         |
| 09/2009  | 0      | 0      | 0       | 0      | 0       | 0         |
| 10/2009  | 0      | 0      | 0       | 0      | 0       | 0         |
| 11/2009  | 1      | 30     | 597     | 0      | 3,376   | 0         |
|     |   |   |    |   |    |      |
| Total:   |   | 5,489  | 435,192 | 0      | 410,931 | 0         |

----

| Lease      Name: MUNSON RANCH (13-1) | Operator:      FRONTIER EXPLORATION INCORPORATED    |
|--------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV             | Field      Name: TRAP SPRING                        |
| Location:      13 9N 56E C SE NW     | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 12/2010           | 1      | 2,984                 | 0                   | 1,166               | 0     | 43.43 | 0.00 | 50,639 |
| 12/2011           | 1      | 2,735                 | 0                   | 1,069               | 0     | 43.43 | 0.00 | 46,416 |
| 12/2012           | 1      | 2,507                 | 0                   | 980                 | 0     | 43.43 | 0.00 | 42,546 |
| 12/2013           | 1      | 2,298                 | 0                   | 898                 | 0     | 43.43 | 0.00 | 38,997 |
| 12/2014           | 1      | 2,106                 | 0                   | 823                 | 0     | 43.43 | 0.00 | 35,745 |
| 12/2015           | 1      | 1,931                 | 0                   | 754                 | 0     | 43.43 | 0.00 | 32,764 |
| 12/2016           | 1      | 1,770                 | 0                   | 692                 | 0     | 43.43 | 0.00 | 30,032 |
| 12/2017           | 1      | 1,622                 | 0                   | 634                 | 0     | 43.43 | 0.00 | 27,527 |
| 05/2018           | 1      | 635                   | 0                   | 248                 | 0     | 43.43 | 0.00 | 10,781 |
| Grand      Total: |   | 18,589                | 0                   | 7,263               | 0     | 43.43 | 0.00 | 315,449 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| 12/2010           | 25,337    | 998    | 24,304    | 0     | 24,304         | 24,304         | 23,123         |
| 12/2011           | 25,337    | 841    | 20,239    | 0     | 20,239         | 44,543         | 17,507         |
| 12/2012           | 25,337    | 697    | 16,512    | 0     | 16,512         | 61,055         | 12,987         |
| 12/2013           | 25,337    | 565    | 13,096    | 0     | 13,096         | 74,151         | 9,366          |
| 12/2014           | 25,337    | 444    | 9,965     | 0     | 9,965          | 84,116         | 6,482          |
| 12/2015           | 25,337    | 333    | 7,095     | 0     | 7,095          | 91,210         | 4,198          |
| 12/2016           | 25,337    | 231    | 4,464     | 0     | 4,464          | 95,675         | 2,405          |
| 12/2017           | 25,337    | 138    | 2,053     | 0     | 2,053          | 97,727         | 1,010          |
| 05/2018           | 10,557    | 32     | 192       | 0     | 192            | 97,920         | 88             |
| Grand      Total: | 213,251   | 4,278  | 97,920    | 0     | 97,920         | 97,920         | 77,166         |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 97,920               | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 77,166               | Calculated      Limit              | 05/2018                | Ultimate      Gross | 164,828 | 0 |
| 20.00      %                 | 63,716               | Economic      Life                 | 101      Months        | Historic      Gross | 145,979 | 0 |
| 30.00      %                 | 54,445               | 8      Years 5 Months              | Gross      at Eff Date | 146,240 | 0 |
| 40.00      %                 | 47,735               | Economics      Information:        | Remaining      Gross   | 18,589 | 0 |
| 50.00      %                 | 42,682               | Net      Payout Date:              | 01/2010                | Remaining      Net | 7,263 | 0 |
| 60.00      %                 | 38,753               | Rate      of Return:               | >100%               |   |   |   |
| 70.00      %                 | 35,616               | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 33,057               | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 30,929               | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 29,132               | WI:                                | 46.000000              | Oil: | 39.074000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 39.074000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: MUNSON RANCH (13-1) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|--------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV             | Field      Name: TRAP SPRING                     |
| Location:      13 9N 56E C SE NW     |                                             |

|     | Well   | Days   | Oil     | Gas    | Water  | Injection |
|----------|--------|--------|---------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |    |   |   |      |
| Previous |   | 7,434  | 143,181 | 0      | 29,320 | 0         |
| 12/2008  | 1      | 31     | 272     | 0      | 155    | 0         |
| 01/2009  | 1      | 31     | 311     | 0      | 156    | 0         |
| 02/2009  | 1      | 28     | 272     | 0      | 141    | 0         |
| 03/2009  | 1      | 31     | 282     | 0      | 156    | 0         |
| 04/2009  | 1      | 30     | 298     | 0      | 152    | 0         |
| 05/2009  | 1      | 31     | 288     | 0      | 158    | 0         |
| 06/2009  | 1      | 30     | 274     | 0      | 153    | 0         |
| 07/2009  | 1      | 31     | 270     | 0      | 158    | 0         |
| 08/2009  | 1      | 31     | 291     | 0      | 159    | 0         |
| 09/2009  | 0      | 0      | 0       | 0      | 0      | 0         |
| 10/2009  | 0      | 0      | 0       | 0      | 0      | 0         |
| 11/2009  | 1      | 30     | 240     | 0      | 150    | 0         |
| Total:   |   | 7,738  | 145,979 | 0      | 30,858 | 0         |

----

| Lease      Name: MUNSON RANCH (13-45) | Operator:      FRONTIER EXPLORATION INCORPORATED    |
|---------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                        |
| Location:      13 9N 56E N2 NW SW     | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| Grand      Total: |   | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| Grand      Total: | 0         | 0      | 0         | 0     | 0              | 0              | 0              |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 114,603 | 0 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 114,456 | 0 |
| 30.00      %                 | 0                    | 0      Years 0 Months              | Gross      at Eff Date | 114,603 | 0 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 46.000000              | Oil: | 31.418000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 31.418000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: MUNSON RANCH (13-45) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|---------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                     |
| Location:      13 9N 56E N2 NW SW     |                                             |

|     | Well   | Days   | Oil     | Gas    | Water  | Injection |
|----------|--------|--------|---------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |    |   |   |      |
| Previous |   | 6,158  | 112,929 | 0      | 46,416 | 0         |
| 12/2008  | 1      | 7      | 24      | 0      | 70     | 0         |
| 01/2009  | 1      | 30     | 259     | 0      | 300    | 0         |
| 02/2009  | 1      | 28     | 151     | 0      | 280    | 0         |
| 03/2009  | 1      | 31     | 164     | 0      | 310    | 0         |
| 04/2009  | 1      | 30     | 153     | 0      | 300    | 0         |
| 05/2009  | 1      | 31     | 152     | 0      | 310    | 0         |
| 06/2009  | 1      | 30     | 152     | 0      | 300    | 0         |
| 07/2009  | 1      | 31     | 153     | 0      | 310    | 0         |
| 08/2009  | 1      | 31     | 154     | 0      | 311    | 0         |
| 09/2009  | 0      | 0      | 0       | 0      | 0      | 0         |
| 10/2009  | 0      | 0      | 0       | 0      | 0      | 0         |
| 11/2009  | 1      | 30     | 165     | 0      | 300    | 0         |
| Total:   |   | 6,437  | 114,456 | 0      | 49,207 | 0         |

----

| Lease      Name: MUNSON RANCH (13-46) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|---------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                     |
| Location:      13 9N 56E NE NE SW     | Reserve      Type/Class: Proved/Developed,Shutin |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| 01/2010           | 1      | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |
| Grand      Total: |   | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| 01/2010           | 0         | 0      | 0         | 0     | 0              | 0              | 0              |
| Grand      Total: | 0         | 0      | 0         | 0     | 0              | 0              | 0              |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | 01/2010                | Ultimate      Gross | 4,771 | 0 |
| 20.00      %                 | 0                    | Economic      Life                 | 1      Month           | Historic      Gross | 4,771 | 0 |
| 30.00      %                 | 0                    | 0      Years 1 Month               | Gross      at Eff Date | 4,771 | 0 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 46.000000              | Oil: | 31.418000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 31.418000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: MUNSON RANCH (13-46) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|---------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                     |
| Location:      13 9N 56E NE NE SW     |                                             |

|     | Well   | Days   | Oil    | Gas    | Water  | Injection |
|----------|--------|--------|--------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)  | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |   |   |   |      |
| Previous |   | 444    | 4,766  | 0      | 457    | 0         |   |
| 07/2004  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 08/2004  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 09/2004  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 10/2004  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 11/2004  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 12/2004  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 01/2005  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 02/2005  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 03/2005  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 04/2005  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 05/2005  | 0      | 0      | 0      | 0      | 0      | 0         |   |
| 06/2005  | 1      | 1      | 5      | 0      | 0      | 0         |   |
|     |   |   |   |   |   |      |   |
| Total:   |   | 445    | 4,771  | 0      | 457    | 0         |   |

----

| Lease      Name: MUNSON RANCH (14-33) | Operator:      FRONTIER EXPLORATION INCORPORATED    |
|---------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                        |
| Location:      13 9N 56E C NW SE      | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| Grand      Total: |   | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| Grand      Total: | 0         | 0      | 0         | 0     | 0              | 0              | 0              |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 62,611 | 0 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 62,469 | 0 |
| 30.00      %                 | 0                    | 0      Years 0 Months              | Gross      at Eff Date | 62,611 | 0 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 46.000000              | Oil: | 31.418000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 31.418000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: MUNSON RANCH (14-33) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|---------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                     |
| Location:      13 9N 56E C NW SE      |                                             |

|     | Well   | Days   | Oil    | Gas    | Water  | Injection |
|----------|--------|--------|--------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)  | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |   |   |   |      |
| Previous |   | 6,513  | 61,127 | 0      | 65,780 | 0         |
| 12/2008  | 1      | 31     | 109    | 0      | 465    | 0         |
| 01/2009  | 1      | 21     | 111    | 0      | 315    | 0         |
| 02/2009  | 1      | 28     | 141    | 0      | 420    | 0         |
| 03/2009  | 1      | 31     | 143    | 0      | 465    | 0         |
| 04/2009  | 1      | 30     | 129    | 0      | 450    | 0         |
| 05/2009  | 1      | 31     | 131    | 0      | 465    | 0         |
| 06/2009  | 1      | 30     | 143    | 0      | 450    | 0         |
| 07/2009  | 1      | 31     | 144    | 0      | 465    | 0         |
| 08/2009  | 1      | 31     | 152    | 0      | 467    | 0         |
| 09/2009  | 0      | 0      | 0      | 0      | 0      | 0         |
| 10/2009  | 0      | 0      | 0      | 0      | 0      | 0         |
| 11/2009  | 1      | 30     | 139    | 0      | 452    | 0         |
|     |   |   |   |   |   |      |
| Total:   |   | 6,807  | 62,469 | 0      | 70,194 | 0         |

----

| Lease      Name: MUNSON RANCH (14-49) | Operator:      FRONTIER EXPLORATION INCORPORATED    |
|---------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                        |
| Location:      14 9N 56E NE NE SE     | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| Grand      Total: |   | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| Grand      Total: | 0         | 0      | 0         | 0     | 0              | 0              | 0              |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 45,116 | 0 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 45,019 | 0 |
| 30.00      %                 | 0                    | 0      Years 0 Months              | Gross      at Eff Date | 45,116 | 0 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 46.000000              | Oil: | 31.418000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 31.418000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: MUNSON RANCH (14-49) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|---------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV              | Field      Name: TRAP SPRING                     |
| Location:      14 9N 56E NE NE SE     |                                             |

|     | Well   | Days   | Oil    | Gas    | Water  | Injection |
|----------|--------|--------|--------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)  | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |   |   |   |      |
| Previous |   | 6,689  | 43,977 | 0      | 31,787 | 0         |
| 12/2008  | 1      | 31     | 103    | 0      | 62     | 0         |
| 01/2009  | 1      | 31     | 108    | 0      | 64     | 0         |
| 02/2009  | 1      | 28     | 96     | 0      | 58     | 0         |
| 03/2009  | 1      | 30     | 110    | 0      | 62     | 0         |
| 04/2009  | 1      | 30     | 111    | 0      | 60     | 0         |
| 05/2009  | 1      | 31     | 117    | 0      | 62     | 0         |
| 06/2009  | 1      | 30     | 96     | 0      | 60     | 0         |
| 07/2009  | 1      | 31     | 103    | 0      | 62     | 0         |
| 08/2009  | 1      | 31     | 97     | 0      | 61     | 0         |
| 09/2009  | 0      | 0      | 0      | 0      | 0      | 0         |
| 10/2009  | 0      | 0      | 0      | 0      | 0      | 0         |
| 11/2009  | 1      | 30     | 101    | 0      | 60     | 0         |
|     |   |   |   |   |   |      |
| Total:   |   | 6,992  | 45,019 | 0      | 32,398 | 0         |

----

| Lease      Name: MUNSON RANCH (14-49X) | Operator:      FRONTIER EXPLORATION INCORPORATED    |
|----------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV               | Field      Name: TRAP SPRING                        |
| Location:      14 9N 56E SE NE SE      | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| Grand      Total: |   | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| Grand      Total: | 0         | 0      | 0         | 0     | 0              | 0              | 0              |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 19,172 | 0 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 19,142 | 0 |
| 30.00      %                 | 0                    | 0      Years 0 Months              | Gross      at Eff Date | 19,172 | 0 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 50.500000              | Oil: | 34.492000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 34.492000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: MUNSON RANCH (14-49X) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|----------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV               | Field      Name: TRAP SPRING                     |
| Location:      14 9N 56E SE NE SE      |                                             |

|     | Well   | Days   | Oil    | Gas    | Water  | Injection |
|----------|--------|--------|--------|--------|--------|-----------|
| Date     | Count  | On     | (bbl)  | (mcf)  | (bbl)  | (bbl)     |
|     |   |   |   |   |   |      |
| Previous |   | 2,158  | 18,820 | 0      | 1,167  | 0         |
| 12/2008  | 1      | 3      | 29     | 0      | 0      | 0         |
| 01/2009  | 1      | 3      | 30     | 0      | 0      | 0         |
| 02/2009  | 1      | 3      | 30     | 0      | 0      | 0         |
| 03/2009  | 1      | 3      | 29     | 0      | 0      | 0         |
| 04/2009  | 1      | 3      | 30     | 0      | 0      | 0         |
| 05/2009  | 1      | 3      | 34     | 0      | 0      | 0         |
| 06/2009  | 1      | 4      | 34     | 0      | 0      | 0         |
| 07/2009  | 1      | 5      | 38     | 0      | 0      | 0         |
| 08/2009  | 1      | 4      | 39     | 0      | 0      | 0         |
| 09/2009  | 0      | 0      | 0      | 0      | 0      | 0         |
| 10/2009  | 0      | 0      | 0      | 0      | 0      | 0         |
| 11/2009  | 1      | 3      | 29     | 0      | 0      | 0         |
|     |   |   |   |   |   |      |
| Total:   |   | 2,192  | 19,142 | 0      | 1,167  | 0         |

----

| Lease      Name: TRAP SPRINGS-MUNSON RANCH (14-42) | Operator:      FRONTIER EXPLORATION INCORPORATED    |
|----------------------------------------------------|-----------------------------------------------------|
| County,      ST: NYE, NV                           | Field      Name: TRAP SPRING                        |
| Location:      14 9N 56E SW SE NE                  | Reserve      Type/Class: Proved/Developed,Producing |

|              | Well   | Gross      Production | Net      Production | Average      Prices | Sales |
|-------------------|--------|-----------------------|---------------------|---------------------|-------|
| Date              | Count  | Oil                   | Gas                 | Oil                 | Gas   | Oil | Gas | Total |
|              |   | (Bbl)                 | (Mcf)               | (Bbl)               | (Mcf) | ($/Bbl) | ($/Mcf) | ($) |
| Grand      Total: |   | 0                     | 0                   | 0                   | 0     | 0.00 | 0.00 | 0 |

|              | Operating |   | Operating | Other | Periodic       | Cumulative     | 10%            |
|-------------------|-----------|--------|-----------|-------|----------------|----------------|----------------|
|              | Expenses  | Taxes  | Income    | Costs | Cash      Flow | Cash      Flow | Cash      Flow |
| Date              | ($)       | ($)    | ($)       | ($)   | ($)            | ($)            | ($)            |
| Grand      Total: | 0         | 0      | 0         | 0     | 0              | 0              | 0              |

| Discount      Present Worth: | Economic      Dates: | Economics      Summary:            |                   |
|------------------------------|----------------------|------------------------------------|------------------------|
| 0.00      %                  | 0                    | Effective      Date                | 01/2010                |   | Bbl      Oil | Mcf      Gas |
| 10.00      %                 | 0                    | Calculated      Limit              | n/a                    | Ultimate      Gross | 216,386 | 0 |
| 20.00      %                 | 0                    | Economic      Life                 | 0      Months          | Historic      Gross | 216,214 | 0 |
| 30.00      %                 | 0                    | 0      Years 0 Months              | Gross      at Eff Date | 216,386 | 0 |
| 40.00      %                 | 0                    | Economics      Information:        | Remaining      Gross   | 0 | 0 |
| 50.00      %                 | 0                    | Net      Payout Date:              | n/a                    | Remaining      Net | 0 | 0 |
| 60.00      %                 | 0                    | Rate      of Return:               | n/a                    |   |   |   |
| 70.00      %                 | 0                    | Return      on Investment:         | 0.00                   | BTU      Content: | 1.000      mmbtu/mcf |   |
| 80.00      %                 | 0                    | Disc      Return on Invest:        | 0.00                   | Gravity: | Oil:      28.00 Gas: 0.800 |   |
| 90.00      %                 | 0                    | Initial      Division of Interest: |                   | NRI | ORI |
| 100.00      %                | 0                    | WI:                                | 21.600000              | Oil: | 18.900000 | 0.000000 |
|                         |                 |                               |                   | Gas: | 18.900000 | 0.000000 |
|                         |                 | Reversion      Date:               | None                   | Injection: | 0.000000 | 0.000000 |

----

| Lease      Name: TRAP SPRINGS-MUNSON RANCH (14-42) | Operator:      FRONTIER EXPLORATION INCORPORATED |
|----------------------------------------------------|--------------------------------------------------|
| County,      ST: NYE, NV                           | Field      Name: TRAP SPRING                     |
| Location:      14 9N 56E SW SE NE                  |                                             |

|     | Well   | Days   | Oil     | Gas    | Water   | Injection |
|----------|--------|--------|---------|--------|---------|-----------|
| Date     | Count  | On     | (bbl)   | (mcf)  | (bbl)   | (bbl)     |
|     |   |   |    |   |    |      |
| Previous |   | 7,242  | 214,494 | 0      | 99,524  | 0         |
| 12/2008  | 1      | 31     | 207     | 0      | 455     | 0         |
| 01/2009  | 1      | 31     | 219     | 0      | 452     | 0         |
| 02/2009  | 1      | 28     | 184     | 0      | 408     | 0         |
| 03/2009  | 1      | 31     | 207     | 0      | 451     | 0         |
| 04/2009  | 1      | 30     | 168     | 0      | 436     | 0         |
| 05/2009  | 1      | 31     | 178     | 0      | 465     | 0         |
| 06/2009  | 1      | 30     | 181     | 0      | 450     | 0         |
| 07/2009  | 1      | 31     | 147     | 0      | 465     | 0         |
| 08/2009  | 1      | 24     | 60      | 0      | 360     | 0         |
| 09/2009  | 0      | 0      | 0       | 0      | 0       | 0         |
| 10/2009  | 0      | 0      | 0       | 0      | 0       | 0         |
| 11/2009  | 1      | 30     | 169     | 0      | 428     | 0         |
|     |   |   |    |   |    |      |
| Total:   |   | 7,539  | 216,214 | 0      | 103,894 | 0         |

----

----

| Class/Sub-Class               | Definition                                                                                                                                                                                                             | Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|-------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Reserves                      | Reserves      are those quantities of petroleum anticipated to be commercially      recoverable by application of development projects to known accumulations      from a given date forward under defined conditions. | Reserves      must satisfy four criteria: they must be discovered, recoverable,      commercial, and remaining based on the development project(s)      applied.  Reserves are further subdivided in accordance with the      level of certainty associated with the estimates and may be sub-classified      based on project maturity and/or characterized by their development and      production status. To      be included in the Reserves class, a project must be sufficiently defined      to establish its commercial viability.  There must be a      reasonable expectation that all required internal and external approvals      will be forthcoming, and there is evidence of firm intention to proceed      with development within a reasonable time frame. A      reasonable time frame for the initiation of development depends on the      specific circumstances and varies according to the scope of the      project.  While 5 years is recommended as a benchmark, a longer      time frame could be applied where, for example, development of economic      projects are deferred at the option of the producer for, among other      things, market-related reasons, or to meet contractual or strategic      objectives.  In all cases, the justification for classification      as Reserves should be clearly documented. To      be included in the Reserves class, there must be a high confidence in the      commercial producibility of the reservoir as supported by actual      production or formation tests.  In certain cases, Reserves may      be assigned on the basis of well logs and/or core analysis that indicate      that the subject reservoir is hydrocarbon-bearing and is analogous to      reservoirs in the same area that are producing or have demonstrated the      ability to produce on formation tests.  |
| On      Production            | The      development project is currently producing and selling petroleum to      market.                                                                                                                              | The      key criterion is that the project is receiving income from sales, rather      than the approved development project necessarily being      complete.  This is the point at which the project “chance of      commerciality” can be said to be 100%. The      project “decision gate” is the decision to initiate commercial production      from the project.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Approved      for Development | All      necessary approvals have been obtained, capital funds have been committed,      and implementation of the development project is underway.                                                                    | At      this point, it must be certain that the development project is going      ahead.  The project must not be subject to any contingencies      such as outstanding regulatory approvals or sales      contracts.  Forecast capital expenditures should be included in      the reporting entity’s current or following year’s approved      budget. The      project “decision gate” is the decision to start investing capital in the      construction of production facilities and/or drilling development      wells.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

----

| Class/Sub-Class                | Definition                                                                                                                                                                                                                                                                                    | Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Justified      for Development | Implementation      of the development project is justified on the basis of reasonable      forecast commercial conditions at the time of reporting, and there are      reasonable expectations that all necessary approvals/contracts will be      obtained.                                 | In      order to move to this level of project maturity, and hence have reserves      associated with it, the development project must be commercially viable at      the time of reporting, based on the reporting entity’s      assumptions of future prices, costs, etc. (“forecast      case”)      and the specific circumstances of the project.  Evidence of a      firm intention to proceed with development within a reasonable time frame      will be sufficient to demonstrate commerciality.  There should      be a development plan in sufficient detail to support the assessment of      commerciality and a reasonable expectation that any regulatory approvals      or sales contracts required prior to project implementation will be      forthcoming.  Other than such approvals/contracts, there should      be no known contingencies that could preclude the development from      proceeding within a reasonable timeframe (see Reservesclass). The      project “decision      gate”      is the decision by the reporting entity and its partners, if any, that the      project has reached a level of technical and commercial maturity      sufficient to justify proceeding with development at that point in      time.  |
| Contingent      Resources      | Those      quantities of petroleum estimated, as of a given date, to be potentially      recoverable from known accumulations by application of development      projects, but which are not currently considered to be commercially      recoverable due to one or more contingencies.  | Contingent      Resources may include, for example, projects for which there are currently      no viable markets, or where commercial recovery is dependent on technology      under development, or where evaluation of the accumulation is insufficient      to clearly assess commerciality.  Contingent Resources are      further categorized in accordance with the level of certainty associated      with the estimates and may be sub-classified based on project maturity      and/or characterized by their economic status.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Development      Pending       | A      discovered accumulation where project activities are ongoing to justify      commercial development in the foreseeable future.                                                                                                                                                         | The      project is seen to have reasonable potential for eventual commercial      development, to the extent that further data acquisition (e.g. drilling,      seismic data) and/or evaluations are currently ongoing with a view to      confirming that the project is commercially viable and providing the basis      for selection of an appropriate development plan.  The critical      contingencies have been identified and are reasonably expected to be      resolved within a reasonable time frame.  Note that      disappointing appraisal/evaluation results could lead to a      re-classification of the project to “On Hold” or “Not      Viable”      status. The      project “decision      gate”      is the decision to undertake further data acquisition and/or studies      designed to move the project to a level of technical and commercial      maturity at which a decision can be made to proceed with development and      production.                                                                                                                                                                                                                                                                                      |

----

| Class/Sub-Class                         | Definition                                                                                                                                                                                             | Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Development      Unclarified or on Hold | A      discovered accumulation where project activities are on hold and/or where      justification as a commercial development may be subject to significant      delay.                              | The      project is seen to have potential for eventual commercial development, but      further appraisal/evaluation activities are on hold pending the removal of      significant contingencies external to the project, or substantial further      appraisal/evaluation activities are required to clarify the potential for      eventual commercial development.  Development may be subject to      a significant time delay.  Note that a change in circumstances,      such that there is no longer a reasonable expectation that a critical      contingency can be removed in the foreseeable future, for example, could      lead to a re­classification of the project to “Not      Viable”      status. The      project “decision      gate”      is the decision to either proceed with additional evaluation designed to      clarify the potential for eventual commercial development or to      temporarily suspend or delay further activities pending resolution of      external contingencies.  |
| Development      Not Viable             | A      discovered accumulation for which there are no current plans to develop or      to acquire additional data at the time due to limited production      potential.                                | The      project is not seen to have potential for eventual commercial development      at the time of reporting, but the theoretically recoverable quantities are      recorded so that the potential opportunity will be recognized in the event      of a major change in technology or commercial conditions. The      project “decision      gate”      is the decision not to undertake any further data acquisition or studies      on the project for the foreseeable future.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Prospective      Resources              | Those      quantities of petroleum which are estimated, as of a given date, to be      potentially recoverable from undiscovered accumulations.                                                        | Potential      accumulations are evaluated according to their chance of discovery and,      assuming a discovery, the estimated quantities that would be recoverable      under defined development projects.  It is recognized that the      development programs will be of significantly less detail and depend more      heavily on analog developments in the earlier phases of      exploration.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Prospect                                | A      project associated with a potential accumulation that is sufficiently well      defined to represent a viable drilling target.                                                             | Project      activities are focused on assessing the chance of discovery and, assuming      discovery, the range of potential recoverable quantities under a      commercial development program.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Lead                                    | A      project associated with a potential accumulation that is currently poorly      defined and requires more data acquisition and/or evaluation in order to      be classified as a prospect.  | Project      activities are focused on acquiring additional data and/or undertaking      further evaluation designed to confirm whether or not the lead can be      matured into a prospect.  Such evaluation includes the      assessment of the chance of discovery and, assuming discovery, the range      of potential recovery under feasible development  scenarios.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Play                                    | A      project associated with a prospective trend of potential prospects, but      which requires more data acquisition and/or evaluation in order to define      specific leads or prospects.   | Project      activities are focused on acquiring additional data and/or undertaking      further evaluation designed to define specific leads or prospects for more      detailed analysis of their chance of discovery and, assuming discovery,      the range of potential recovery under hypothetical development      scenarios.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

----

| Status                                | Definition                                                                                                                                                   | Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Developed      Reserves               | Developed      Reserves are expected quantities to be recovered from existing wells and      facilities.                                                     | Reserves      are considered developed only after the necessary equipment has been      installed, or when the costs to do so are relatively minor compared to the      cost of a well.  Where required facilities become unavailable,      it may be necessary to reclassify Developed Reserves as      Undeveloped.  Developed Reserves may be further sub-classified      as Producing or Non-Producing.                                                                                                                                                                                                                                                                 |
| Developed      Producing Reserves     | Developed      Producing Reserves are expected to be recovered from completion intervals      that are open and producing at the time of the estimate.  | Improved      recovery reserves are considered producing only after the improved      recovery project is in operation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Developed      Non-Producing Reserves | Developed      Non-Producing Reserves include shut-in and behind-pipe      Reserves.                                                                         | Shut-in      Reserves are expected to be recovered from (1) completion intervals which      are open at the time of the estimate but which have not yet started      producing, (2) wells which were shut-in for market conditions or pipeline      connections, or (3) wells not capable of production for mechanical      reasons.  Behind-pipe Reserves are expected to be recovered from      zones in existing wells which will require additional completion work or      future re-completion prior to start of production. In      all cases, production can be initiated or restored with relatively low      expenditure compared to the cost of drilling a new well.  |
| Undeveloped      Reserves             | Undeveloped      Reserves are quantities expected to be recovered through future      investments:                                                           | (1)      from new wells on undrilled acreage in known accumulations, (2) from      deepening existing wells to a different (but known) reservoir, (3) from      infill wells that will increase recovery, or (4) where a relatively large      expenditure (e.g. when compared to the cost of drilling a new well) is      required to (a) recomplete an existing well or (b) install production or      transportation facilities for primary or improved recovery      projects.                                                                                                                                                                                                              |

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| Category             | Definition                                                                                                                                                                                                                                                                                                                                          | Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
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| Proved      Reserves | Proved      Reserves are those quantities of petroleum, which by analysis of      geoscience and engineering data, can be estimated with reasonable      certainty to be commercially recoverable, from a given date forward, from      known reservoirs and under defined economic conditions, operating methods,      and government regulations. | If      deterministic methods are used, the term reasonable certainty is intended      to express a high degree of confidence that the quantities will be      recovered.  If probabilistic methods are used, there should be      at least a 90% probability that the quantities actually recovered will      equal or exceed the estimate. The      area of the reservoir considered as Proved includes (1) the area      delineated by drilling and defined by fluid contacts, if any, and (2)      adjacent undrilled portions of the reservoir that can reasonably be judged      as continuous with it and commercially productive on the basis of      available geoscience and engineering data.                                                                                             |
|                 |                                                                                                                                                                                                                                                                                                                                                | In      the absence of data on fluid contacts, Proved quantities in a reservoir      are limited by the lowest known hydrocarbon (LKH) as seen in a well      penetration unless otherwise indicated by definitive geoscience,      engineering, or performance data.  Such definitive information      may include pressure gradient analysis and seismic      indicators.  Seismic data alone may not be sufficient to define      fluid contacts for Proved reserves (see      “2001 Supplemental Guidelines,”      Chapter 8).                                                                                                                                                                                                                                                  |
|                 |                                                                                                                                                                                                                                                                                                                                                | Reserves      in undeveloped locations may be classified as Proved provided      that:· The      locations are in undrilled areas of the reservoir that can be judged with      reasonable certainty to be commercially productive.· Interpretations      of available geoscience and engineering data indicate with reasonable      certainty that the objective formation is laterally continuous with      drilled Proved locations.                                                                                                                                                                                                                                                                                                                                                         |
|                 |                                                                                                                                                                                                                                                                                                                                                | For      Proved Reserves, the recovery efficiency applied to these reservoirs      should be defined based on a range of possibilities supported by analogs      and sound engineering judgment considering the characteristics of the      Proved area and the applied development program.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| ProbableReserves     | Probable      Reserves are those additional Reserves which analysis of geoscience and      engineering data indicate are less likely to be recovered than Proved      Reserves but more certain to be recovered than Possible      Reserves.                                                                                                        | It      is equally likely that actual remaining quantities recovered will be      greater than or less than the sum of the estimated Proved plus Probable      Reserves (2P).  In this context, when probabilistic methods are      used, there should be at least a 50% probability that the actual      quantities recovered will equal or exceed the 2P estimate. Probable      Reserves may be assigned to areas of a reservoir adjacent to Proved where      data control or interpretations of available data are less      certain.  The interpreted reservoir continuity may not meet the      reasonable certainty criteria. Probable      estimates also include incremental recoveries associated with project      recovery efficiencies beyond that assumed for Proved.  |

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| Category                            | Definition                                                                                                                                                                          | Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
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| Possible      Reserves              | Possible      Reserves are those additional reserves which analysis of geoscience and      engineering data indicate are less likely to be recoverable than Probable      Reserves. | The      total quantities ultimately recovered from the project have a low      probability to exceed the sum of Proved plus Probable plus Possible (3P),      which is equivalent to the high estimate scenario.  When      probabilistic methods are used, there should be at least a 10% probability      that the actual quantities recovered will equal or exceed the 3P      estimate. Possible      Reserves may be assigned to areas of a reservoir adjacent to Probable      where data control and interpretations of available data are progressively      less certain.  Frequently,      this may be in areas where geoscience and engineering data are unable to      clearly define the area and vertical reservoir limits of commercial      production from the reservoir by a defined project. Possible      estimates also include incremental quantities associated with project      recovery efficiencies beyond that assumed for Probable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Probable      and Possible Reserves | (See      above for separate criteria for Probable Reserves and Possible      Reserves.)                                                                                            | The      2P and 3P estimates may be based on reasonable alternative technical and      commercial interpretations within the reservoir and/or subject project      that are clearly documented, including comparisons to results in      successful similar projects. In      conventional accumulations, Probable and/or Possible Reserves may be      assigned where geoscience and engineering data identify directly adjacent      portions of a reservoir within the same accumulation that may be separated      from Proved areas by minor faulting or other geological discontinuities      and have not been penetrated by a wellbore but are interpreted to be in      communication with the known (Proved) reservoir.  Probable or      Possible Reserves may be assigned to areas that are structurally higher      than the Proved area.  Possible (and in some cases, Probable)      Reserves may be assigned to areas that are structurally lower than the      adjacent Proved or 2P area. Caution      should be exercised in assigning Reserves to adjacent reservoirs isolated      by major, potentially sealing, faults until this reservoir is penetrated      and evaluated as commercially productive. Justification      for assigning Reserves in such cases should be clearly      documented.  Reserves should not be assigned to areas that are      clearly separated from a known accumulation by non-productive reservoir      (i.e., absence of reservoir, structurally low reservoir, or negative test      results); such areas may contain Prospective Resources. In      conventional accumulations, where drilling has defined a highest known oil      (HKO) elevation and there exists the potential for an associated gas cap,      Proved oil Reserves should only be assigned in the structurally higher      portions of the reservoir if there is reasonable certainty that such      portions are initially above bubble point pressure based on documented      engineering analyses.  Reservoir portions that do not meet this      certainty may be assigned as Probable and Possible oil and/or gas based on      reservoir fluid properties and pressure gradient      interpretations.  |

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