The new fracture stimulation design has resulted in the wells flowing back differently than our previous Caney wells. We have recovered much more of our fracture stimulation fluid in the first three weeks than in previous Caney wells, and the wells continue to have higher frac fluid rates. Two of the wells have recovered just over 15% of the fracture stimulation fluid, and one has recovered just over 7%. The different flowbacks have led to peak oil and gas production rates taking longer to achieve than in our previous wells. The Clifton Mack wells are currently producing at a combined rate of about 2,100 barrels of oil equivalent per day ("BOEPD") which includes about 925 barrels of oil per day. This BOEPD rate is up about 55% from the prior week, while daily frac fluid recovery rates have stayed nearly the same. While the rate of increase has slowed in the last few days, we believe, based on the current higher daily fracture stimulation fluid recovery, that the wells can continue to clean up and improve further.

LOVINA 5-8-1HF WELL

The Lovina 5-8-1HF well, has been successfully fracture stimulated. Flowback is expected to start early next week after the fracture stimulation plugs are drilled out. This well also incorporated the same new fracture stimulation design used in the Clifton Mack wells.

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