Definitions

3-D Seismic, 3-D Imaging or 3-D Data

Commercial Well or Producing Well

Development Well

Exploratory Well

Independent Producer

Infill Drilling

Major Oil Company

Natural Gas Liquids or NGLs

Net Profits Interest

Operating Costs

Possible Reserves

Producing (Productive) Well or Property

Proved Developed Non-producing Reserves or PDNP

Proved Developed Producing Reserves or PDP

Proved Reserves

Proved Reserves

Proved Undeveloped Location

Proved Undeveloped Reserves or PUDS

Reservoir Engineering

Royalty Interest

Standardized Measure of Discounted Future Net Cash Flows