1. Petram Project Portfolio
June 05, 2017

2. Location of Carey City: Breckenridge. Mature Oil field.
County: Stephens.
Mature Oil field.
Proven oil petroleum system.
Over 10,500 wells have been
successfully drilled in the area of study.
Shallow wells not deeper than 750’.
Low drilling cost.
Low risk development project.
EOR: Water flooding.
Static model built with 2D –seismic and
well data.

3. Location of Carey N
0.0
1.0 miles

4. Carey Exploratory-Land
Carey: 425 acres.
0.0
0.5 miles

5. Gunsight Case History Exploitation, TX
Gunsight Formation Oil Producing Counties: Clay, Young, Callahan and Coleman. All Surrounding Stephens County, TX.

6. Gunsight Oil Producing Formation
Well Log images above show same oil producing correlation trend between leases in Stephens County neighboring Callahan County, TX.

7. Carey Project, Stephens County, TX
Lease Description:
425 Acres.
Geoscan Survey identified 143 Acre NW-SE trend structure.
Well Production from 6 different pay zones:
- Gunsight, Strawn, Lauderdale,
Lake Sand, Marble Falls, and Duffer.
Oil type: 38o API West Texas Intermediate.
Drilling Project:
6 wells to total depth 4500’.
10 wells to total depth 3000’.
150 wells to total 600’.
Each well can produce 50,000 to 80,000 bbls of oil from all
pay zones.
Recovery Factor: 12%
Project lifetime 5 years.