Smackover Reef Development (20+ reefs; 3D study; multi-year program)

20+ reefs in oil window defined by 34,000-acre private 3D study. 15,000 acres leased. Multi-year development program; resource potential up to 250,000+ BO/well (per seller). Initial buy-in: $1MM for 10% (20% available) covering prior costs + 2 Smackover wells. Finder’s fee required by seller. “Heads-up” full development cost after initial wells.