We REPRESENT Engagements throughout the U.S.

• 2,300 NRA throughout the most active and productive region in the Lower 48
• $21MM net cash flow (2023E) with ongoing line-of-sight growth via 400+ DUCs and permits
• Total PV10 of ~$200MM ($480MM PV0)
• High-interest units under basin-focused, well-capitalized operators including Devon, Exxon, Cimarex & Oxy
• Assets only 25% developed with ~2,300 additional, highly economic PUD locations remaining across 6 horizons

• Diversified non-operated wellbore-only producing assets located across six of the most prominent basins across the Lower 48
• Balanced revenue stream (46% liquids) with established, proven production (4,070 Boed) generating meaningful cash flow ($42MM NTM)
• Substantial Production Base of 4,100 Net Boed (46% Liquids) from 87 horizontal producers
• NTM cash flow of $42MM from established, reliable production base with average historical production history of 30 months per wellbore
• Premier basin-focused operators, such as Oxy, Mewbourne, Comstock, Shell, and Marathon

• Operated, contiguous, 100% HBP Norge Marchand Sand Unit located in western Grady County, Oklahoma
• Substantial liquids-weighted production generating ~$12MM of NTM PDP cash flow
• PDP PV10 of $45MM and current net production of 1 MBoed from 65 current producers
• Low lifting costs of $12.40/Boe provide attractive economics
• Multiple development and production optimization projects including highly-economic Marchand horizontal locations, vertical re-frac’s, returns to production, and waterflood optimization

• Low-decline production of 275 Boed (65% Liquids) on a steady 9% annual decline
• $2.8MM NTM operating cash flow and $10.9MM NPV10 (PDP Only, 90% operated)
• Assets well maintained with minimal production decline over 5 years via workover and RTP programs
• 6,136 net acres (100% HBP) with 72 wells (42 operated)

• Low-decline, predictable production base of 8.7 MMcfed (78% Gas) from 521 wells throughout the Hugoton and SCOOP/STACK/Merge plays
• Consistent, gas-weighted cash flow of $12MM NTM easily funds near term development
• Prolific inventory of horizontal, vertical, and low-cost behind pipe cases
• Combined 3P PV10 of $108MM underpinned by 66 Bcfe of net reserves