Marketed: AEX Exploration Alaska North Slope Assets

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

AEX Exploration LLC, a subsidiary of Arctic Slope Regional Corp., retained Detring Energy Advisors to market for sale its oil and gas leasehold and related assets located in the Placer Unit of Alaska's North Slope.

The Placer Unit offsets multiple prolific oil fields and includes a development-ready project across multiple stacked pays, including two existing wellbores and a highly economic development opportunity in the Kuparuk C sand, with substantial upside in the Nanushuk Topset and Alpine C, according to Detring.

Highlights:

• 110 million barrels of OOIP across the proven Kuparuk C and the Nanushuk Topset and Alpine C reservoirs
  • Kuparuk C: Proven and delineated reservoir with more than 3.5 billion barrels of oil produced to-date on the North Slope
    • Defined by three Placer wells, including the Placer #3 which is “certified capable of production”
    • Well and analog data indicate the field is an ideal development candidate due to favorable average porosity (23.4%), high permeability (430 mD), and light oil viscosity (26.2API @ 1.51-1.85cP)
    • Reservoir model indicates Kuparuk C development generates US$107 million PV-10 value (BTAX) and greater than 8,000 barrels per day of oil peak rate utilizing two producers and two injectors
  • Nanushuk Topset:  Newest North Slope discovery with more than 1.5 billion barrels of oil potential
    • Placer Unit just east of giant Topset discovery in the Pikka Unit
    • Well defined by seismic, with oil shows in nearby wells
  • Alpine C:  Eastward extension of the Alpine C discovery in the Pikka Unit
    • Main reservoir in the Colville River Unit (ConocoPhillips Co.)
    • Has produced greater than 440 million barrels of oil to-date on the North Slope
• Contiguous, operated unit ideally situated for early production
  • 8,768 net acres (100% Working Interest)
  • Six proximal rigs running on the North Slope (BP Plc, Eni SpA, Hilcorp Energy Co., ConocoPhillips)
• In-depth technical characterization
  • Three wells drilled to-date, with two usable for future development
  • Three seismic datasets merged and re-processed to create geologic model
  • Reservoir simulation model ties directly to AEX geologic, geophysical, and petrophysical frameworks
  • Between 35 million and 45 million barrels of oil recoverable across all horizons (16+ Kuparuk C, 11-19 Nanushk Topset, 8-10 Alpine C)

Process Timeline:

• Virtual data room opens June 5
• Bids due July 17

For information visit detring.com or contact Melinda Faust at mel@detring.com or 713-595-1004.