Marketed: Siltstone Resources Core Appalachia Mineral Portfolio

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

Siltstone Resources and its affiliates are offering for sale certain mineral and royalty interests in Appalachia. BMO Capital Markets has been retained as exclusive financial adviser for the transaction.

Highlights:

• Opportunity to acquire a substantial portfolio of mineral and royalty assets in the core of the Utica, Marcellus and Upper Devonian
  • 52,406 net royalty acres, 1,771 overriding royalty interest acres, and 1,930 additional leased working interest acres
• Low concentration risk, with interest in over 625 currently producing wells across 20 counties in Ohio, Pennsylvania and West Virginia
  • March production of 16.2 net million cubic feet equivalent per day (90% gas) with drilling inventory consisting of more than 5,000 locations
  • Last 12-month cash flow of about $30 million
• Well-distributed acreage provides high-confidence upside exposure across the tri-state region
  • Seller has exposure to over 50% of the future development locations in core Utica

Virtual data room will be available mid-August and data room presentations begin later in the month. For information contact Sandra Ramsey at siltstone.appalachia@bmo.com or 713-518-1187.