PP

Large Operated California Package

Producing Properties

All Standard Disclaimers Apply & Seller Rights Retained


Large Operated California Package

KERN CO., CA SALE PACKAGE

39-PDP. 20-PDNP. 10-PUDs

CARNEROS CREEK, LOST HILLS

& MIDWAY-SUNSET FIELDS

Point of Rocks, Phacoides & Button Red

Large Behind Pipe & PUD Inventory

29 2P & 3P Drilling Locations Identified

4 Wells Include 6% ORRI

Avg 100% OPERATED WI; 81% NRI

Gross Production: 103 BOPD

Net Production: 84 BOPD

Net Cash Flow: ~$108,210/Mn

Proved Net Reserves: 718 MBO

Proved Net PV10: ~$12,910,000

SOLD BY ENERGY ADVISORS APR 2019

PP 5400DV

Summary
Energy Advisors Group has been retained by Yuma Energy, Inc. to market their California multi-field properties in Kern County. The process is ongoing with a closing pending on April 30, 2019 or sooner.

Included in the sale are 39-PDP, 20-PDNP & 10-PUD locations across Carneros Creek, Edison, Lost Hills, McDonald Anticline, Midway-Sunset & Mountain View Fields. Currently, there are 20-vertical/directional wells producing 103 BOPD gross (84 BOPD net). PDP net reserves are 297 MBO (PV10: ~$4,420,000). Over the last 4-months these properties have generated a net cash flow of ~108,210 per month.

Additional proven opportunties (20-PDNP & 10-PUDs) have been identified across the position. Combined, total proved reserves estimates are 717 MBO with a PV10 of ~$12,910,000

Additionally there are 29 2P & 3P Locations identified across the position that provides an operator significant optionality for future development.

Probable & Possible Net Reserves: 211 MBO
Probable & Possible Net PV10: $4,482,180

Carneros Creek Field - Kern County, CA
Pyramid Oil drilled the discovery well at Carneros Creek Field in 1976 and subsequently drilled 39 additional productive wells. The total depth of the wells range from 2,400 feet to 4,500 feet and the average is 3,400’.

Cumulative production from the field is approximately 1.7 MMBO. The primary producing reservoir is the Eocene age Point of Rocks sandstone which has yielded 1.3 MMBO from 25 completions. Secondary reservoirs include the Oligocene age Phacoides sandstone which has yielded 178 MBO from 15 completions, and the Miocene Carneros and Button Bed sandstones that have produced 163 MBO from 6 completions. Gravity of the oil from the Point of Rocks reservoirs ranges from 26° to 28° API and the Phacoides is 31° API.

Additional opportunities at Carneros Creek include several recompletion candidates in the Point of Rocks and Phacoides reservoirs, a re-drill location targeting the Point of Rocks and Phacoides reservoirs, as well as several new infill well locations that primarily target the Point of Rocks. Furthermore, under economic market conditions the field could be a good candidate to consider for EOR operations, such as gas injection or water flood, particularly since a single entity operates the entire field.

Midway-Sunset Field - Kern County, CA
Midway-Sunset Field was discovered in 1894 and is the largest oil field in California. The field covers an area of approximately 30 square miles and has produced nearly 3 billion barrels of oil from more than 20 different Pleistocene, Pliocene, and Miocene reservoirs that range in depth from a few hundred feet to nearly 5,000 feet.

The Pyramid/Yuma “Pike” lease is situated on the east flank of Midway-Sunset Field and is approximately 140 acres in size located in the northwest part of Section 28 of Township 32S, Range 24E. Drilling was initiated on this lease in 1942 by Pyramid Oil and subsequently 21 productive wells were drilled on the lease. Oil production from the Pike lease is from Pliocene age reservoirs locally named the Calitroleum, Gusher, Kinsey, and Top Oil sandstones. The gravity of the oil is 26° API. Based on available records, cumulative production from the Pike lease is approximately 2.3 MMBO. Currently the No. 9 Pike is the only well producing on the lease.

Additional opportunities on the Pike lease include behind-pipe recompletion candidates in the shut-in and producing wells. Some of the behind pipe opportunities are from reservoirs that have produced in other wells on the lease, specifically the Gusher and Top Oil sandstones. Other behind-pipe candidates are stray sands that appear productive based on log resistivity and/or sidewall core descriptions. There is also heavier crude (10° to 12° API) present in the shallower Tulare sandstone that could be developed by steam-flood should commodity prices make it economic.

Lost Hills Field - Kern County, CA
Lost Hills Field was discovered in 1910 and is located about one mile west of the town of Lost Hills in northwestern Kern County. The field, which is nearly 12 miles long and about one mile wide, occurs on the southeast nose of an elongate anticline that is oriented northwest to southeast. Oil and gas has been produced from several reservoirs in the Tulare Formation (Pleistocene), the Etchegoin Formation (Pliocene), the Monterey Formation (Miocene), and the Temblor Formation (Miocene/Oligocene) which range in depth from a few hundred feet to approximately 6,000 feet. State records indicate that Lost Hills field has produced more than 391 million barrels of 11° to 40° API gravity oil.

The Pyramid/Yuma “Theta” lease is located in the northwest part of the field, specifically in the southwest corner of Section 12 of Township 26S, Range 20E. The lease consists of approximately 21 acres and there have been 7 wells drilled on the lease. In 1930, the first well was drilled on the lease to a total depth of 1,846 feet. Oil shows were encountered in several sands however the wellbore began to collapse so the well was junked and abandoned. A second well was drilled in 1939 to a total depth of 1,696 feet. This well also encountered several oil saturated sands but it was never completed for reasons that are unclear. In 1976, Pyramid drilled 4 wells on their Theta lease and all 4 were completed and produced from various Lower Etchegoin (Pliocene) reservoirs at depths less than 2,000 feet. A fifth well was drilled by Pyramid in 1982 which also produced from Lower Etchegoin reservoirs. Total reported production from the Theta lease is approximately 109 MBO with a gravity of approximately 26° API.

The No. 12-7 Theta and No. 12-9 Theta wells are the only wells currently producing on the lease. Additional opportunities on the Theta lease include behind-pipe recompletion candidates in the shut-in and producing wells. Some of the behind pipe opportunities target reservoirs that have produced in other wells on the lease, whereas other behind-pipe candidates are sands that could be productive based on log resistivity and/or sidewall core descriptions. There is also heavier crude (10° to 12° API) present in the shallower Tulare sandstone that could be developed by steam-flood should commodity prices make it economic.

TO LEARN MORE CONTACT:
Mr. Ross Benoche
Director - Sell-Side Services
5120 Woodway Dr Ste 11010
Houston, TX 77056
Direct: 713-600-0154 and Cell: 832-338-2810
Email: [email protected]

Mr. David Kessler
Director - International
5120 Woodway Dr Ste 11010
Houston, TX 77056
Cell: 832-629-8698
Email: [email protected]

Questions Regarding This Asset? Email David Kessler or call EAG at 713-600-0123
Virtual Data Room

KERN CO., CA SALE PACKAGE

39-PDP. 20-PDNP. 10-PUDs

CARNEROS CREEK, LOST HILLS

& MIDWAY-SUNSET FIELDS

Point of Rocks, Phacoides & Button Red

Large Behind Pipe & PUD Inventory

29 2P & 3P Drilling Locations Identified

4 Wells Include 6% ORRI

Avg 100% OPERATED WI; 81% NRI

Gross Production: 103 BOPD

Net Production: 84 BOPD

Net Cash Flow: ~$108,210/Mn

Proved Net Reserves: 718 MBO

Proved Net PV10: ~$12,910,000

SOLD BY ENERGY ADVISORS APR 2019

PP 5400DV

Summary
Energy Advisors Group has been retained by Yuma Energy, Inc. to market their California multi-field properties in Kern County. The process is ongoing with a closing pending on April 30, 2019 or sooner.

Included in the sale are 39-PDP, 20-PDNP & 10-PUD locations across Carneros Creek, Edison, Lost Hills, McDonald Anticline, Midway-Sunset & Mountain View Fields. Currently, there are 20-vertical/directional wells producing 103 BOPD gross (84 BOPD net). PDP net reserves are 297 MBO (PV10: ~$4,420,000). Over the last 4-months these properties have generated a net cash flow of ~108,210 per month.

Additional proven opportunties (20-PDNP & 10-PUDs) have been identified across the position. Combined, total proved reserves estimates are 717 MBO with a PV10 of ~$12,910,000

Additionally there are 29 2P & 3P Locations identified across the position that provides an operator significant optionality for future development.

Probable & Possible Net Reserves: 211 MBO
Probable & Possible Net PV10: $4,482,180

Carneros Creek Field - Kern County, CA
Pyramid Oil drilled the discovery well at Carneros Creek Field in 1976 and subsequently drilled 39 additional productive wells. The total depth of the wells range from 2,400 feet to 4,500 feet and the average is 3,400’.

Cumulative production from the field is approximately 1.7 MMBO. The primary producing reservoir is the Eocene age Point of Rocks sandstone which has yielded 1.3 MMBO from 25 completions. Secondary reservoirs include the Oligocene age Phacoides sandstone which has yielded 178 MBO from 15 completions, and the Miocene Carneros and Button Bed sandstones that have produced 163 MBO from 6 completions. Gravity of the oil from the Point of Rocks reservoirs ranges from 26° to 28° API and the Phacoides is 31° API.

Additional opportunities at Carneros Creek include several recompletion candidates in the Point of Rocks and Phacoides reservoirs, a re-drill location targeting the Point of Rocks and Phacoides reservoirs, as well as several new infill well locations that primarily target the Point of Rocks. Furthermore, under economic market conditions the field could be a good candidate to consider for EOR operations, such as gas injection or water flood, particularly since a single entity operates the entire field.

Midway-Sunset Field - Kern County, CA
Midway-Sunset Field was discovered in 1894 and is the largest oil field in California. The field covers an area of approximately 30 square miles and has produced nearly 3 billion barrels of oil from more than 20 different Pleistocene, Pliocene, and Miocene reservoirs that range in depth from a few hundred feet to nearly 5,000 feet.

The Pyramid/Yuma “Pike” lease is situated on the east flank of Midway-Sunset Field and is approximately 140 acres in size located in the northwest part of Section 28 of Township 32S, Range 24E. Drilling was initiated on this lease in 1942 by Pyramid Oil and subsequently 21 productive wells were drilled on the lease. Oil production from the Pike lease is from Pliocene age reservoirs locally named the Calitroleum, Gusher, Kinsey, and Top Oil sandstones. The gravity of the oil is 26° API. Based on available records, cumulative production from the Pike lease is approximately 2.3 MMBO. Currently the No. 9 Pike is the only well producing on the lease.

Additional opportunities on the Pike lease include behind-pipe recompletion candidates in the shut-in and producing wells. Some of the behind pipe opportunities are from reservoirs that have produced in other wells on the lease, specifically the Gusher and Top Oil sandstones. Other behind-pipe candidates are stray sands that appear productive based on log resistivity and/or sidewall core descriptions. There is also heavier crude (10° to 12° API) present in the shallower Tulare sandstone that could be developed by steam-flood should commodity prices make it economic.

Lost Hills Field - Kern County, CA
Lost Hills Field was discovered in 1910 and is located about one mile west of the town of Lost Hills in northwestern Kern County. The field, which is nearly 12 miles long and about one mile wide, occurs on the southeast nose of an elongate anticline that is oriented northwest to southeast. Oil and gas has been produced from several reservoirs in the Tulare Formation (Pleistocene), the Etchegoin Formation (Pliocene), the Monterey Formation (Miocene), and the Temblor Formation (Miocene/Oligocene) which range in depth from a few hundred feet to approximately 6,000 feet. State records indicate that Lost Hills field has produced more than 391 million barrels of 11° to 40° API gravity oil.

The Pyramid/Yuma “Theta” lease is located in the northwest part of the field, specifically in the southwest corner of Section 12 of Township 26S, Range 20E. The lease consists of approximately 21 acres and there have been 7 wells drilled on the lease. In 1930, the first well was drilled on the lease to a total depth of 1,846 feet. Oil shows were encountered in several sands however the wellbore began to collapse so the well was junked and abandoned. A second well was drilled in 1939 to a total depth of 1,696 feet. This well also encountered several oil saturated sands but it was never completed for reasons that are unclear. In 1976, Pyramid drilled 4 wells on their Theta lease and all 4 were completed and produced from various Lower Etchegoin (Pliocene) reservoirs at depths less than 2,000 feet. A fifth well was drilled by Pyramid in 1982 which also produced from Lower Etchegoin reservoirs. Total reported production from the Theta lease is approximately 109 MBO with a gravity of approximately 26° API.

The No. 12-7 Theta and No. 12-9 Theta wells are the only wells currently producing on the lease. Additional opportunities on the Theta lease include behind-pipe recompletion candidates in the shut-in and producing wells. Some of the behind pipe opportunities target reservoirs that have produced in other wells on the lease, whereas other behind-pipe candidates are sands that could be productive based on log resistivity and/or sidewall core descriptions. There is also heavier crude (10° to 12° API) present in the shallower Tulare sandstone that could be developed by steam-flood should commodity prices make it economic.

TO LEARN MORE CONTACT:
Mr. Ross Benoche
Director - Sell-Side Services
5120 Woodway Dr Ste 11010
Houston, TX 77056
Direct: 713-600-0154 and Cell: 832-338-2810
Email: [email protected]

Mr. David Kessler
Director - International
5120 Woodway Dr Ste 11010
Houston, TX 77056
Cell: 832-629-8698
Email: [email protected]

Questions Regarding This Asset? Email David Kessler or call EAG at 713-600-0123