Mitsue Property

Property Description 

• Located in Townships 71-75, Ranges 3-6  W5M, approximately 200 kilometers Northwest of Edmonton, Alberta

• 6,720 acres (gross), 10.5 sections (gross)

• 3,590 acres (net), 5.6 sections (net)

Geology 

• Primary producing horizon is the Gilwood Formation from two zones

Product Quality 

• Sweet 36-41^o  API Oil

Ownership Interest and Operatorship 

• 41.16 to 100% Working Interest Operated by Exall Energy Corp through wholly-owned subsidiary Kingsmere Exploration Ltd.

Production 

• 3 producing wells

• Currently producing approximately 145 bopd 

Capital Expenditures 

• Currently reworking and drilling new development wells 

Net to Exall

• Currently approximately 70 boe/d

Facilities 

• The wells currently produce to single well batteries

• Operated water injection wells and facilities provide pressure maintenance