Marketed: Bissell Oil South Green River Basin Development Opportunity

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

Energy Advisors Group (EAG) has been retained by Bissell Oil to source capital for the development of their Green River vertical development prospect located in Summit and Daggett Counties, Utah. The acreage position provides exposure to the overpressured Green River Basin with one or more oil and gas producing members in the Dakota Formation. Additionally, there is a secondary objective member in the Frontier Formation.

The Bissell Prospect is a conventional fault trap located approximately 17 miles east of Bridger Lake oil field in Daggett County, Utah, near the Wyoming state line. Favorable trapping conditions have been identified along a 12-mile long trend in the footwall adjacent to the reverse left lateral Henrys Fork fault zone at depths of between 16,500 ft to 18,500 ft.

Highlights:

• North Utah Uinta Prospect
  • 16 Well Development. 7,340 Net Acres.
• Liquids Rich Dakota Formation
  • Overpressured and Naturally Fractured Rock
  • Geological and Resource Potential Studies
• 16 Locations. 17,100 ft TVD.
  • Multiple Analogs In Same Productive Zones
• 100% operated working interest and 80% net revenue interest
  • Single Well EUR: 1.1 MMbbl and 4.7 Bcf
  • Development EUR: > 30 MMboe
• Excellent Structural Trap and Reservoir Seal
  • Ground-floor prospect: $10.1 million D&C

The Reservoir: Dakota Sandstone

The Dakota Sandstones are a primary reservoir target for the North Uinta Prospect known for its braided fluvial sandstone to conglomeritic sandstone deposition. Subdivided into three members: K1 Sequence (Chert-pebble sandy MS with discontinuous SS & conglomerates), K2 Sequence (95% Fluvial sandstone, best reservoir rock), and K3 Sequence (Discontinuous fine-deltaic sandstones).

In summary, Bissell Oil has a thorough understanding of the established Dakota production in Utah and created a development plan across their 7,340 acre position. Single well EUR (30 year) expectations are 1.1 MMbbls and 4.7 Bcf for the prospect area with higher permeabilities than Bridger Lake anticipated due to intense rock deformation along the trap.

Bissell Oil Acreage and Dakota Structure

The Dakota Formation is high-margin with a track record of over 60 years of consistently shallow production declines with 16 potential directional drilling locations on seven pads. Here there is the potential to unlock large oil and gas reserves attributed to linkage of intense natural fractures and ideal conditions for hydrocarbon generation. The prospect offers an opportunity to drill several directional wells on a reverse fault trap perpendicular to stratigraphic deposition of charged reservoir rocks.

A virtual data room is available. For information contact Carrie Calahan, EAG vice president, at ccalahan@energyadvisor.com.