Marketed: Urban Oil & Gas Rockies Operated Conventional Oil

The following information is provided by PetroDivest Advisors. All inquiries on the following listings should be directed to PetroDivest. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Urban Oil & Gas retained PetroDivest Advisors to market for sale certain of its operated oil and gas leasehold, producing properties and related assets located in Campbell, Converse and Park counties, Wyoming.

The assets offer an attractive opportunity to acquire consistent, low-decline, waterflood properties underpinned by a 97% oil-weighted production stream generating meaningful next 12-month cash flow of about $5 million, with multiple economic development projects including waterflood optimization, operational efficiencies and vertical infill drilling, according to PetroDivest.

Asset Detail:

• Long-Life Oil Production (97% Oil)
  • Current net production of ~210 boe/d (97% oil) from vertical producers across 10 regional fields
    • PDP PV-10: $20 million
    • PDP Net Reserves: 1.5 million boe
    • PDP NTM Cash Flow: $5 million
  • R/P: 20 years
  • Legacy production base boasts NTM decline of ~5%, which is underpinned by decades of historical production
  • Low lifting costs of $17/boe
• Operated, HBP Footprint
  • 98% Average Working Interest
  • 96% HBP
  • Extensive infrastructure in-place allows for ease of operations across the active waterflood position
    • Assets include 13 active injectors and three water source wells
  • Ample upside opportunities include additional upsize workovers, tubing, and fishing jobs, providing near-term production uplift potential
    • Total 2P EUR: 1.7 million boe
    • Total 2P PV-10: $22 million

Process Summary:

• Evaluation materials are available via the Virtual Data Room on June 22
• Proposals are due on July 27

For information visit petrodivest.com or contact Jerry Edrington, director of PetroDivest, at jerry@petrodivest.com or 713-595-1017.