Primera Energy,LLC - Sale Package

OVERVIEW
5-Tab Worksheet
1. Overview
2. Well List
3. Monthly Production Data
4. Revenue Statements
5. Offset Maps

TEXAS BANKRUPTCY PACKAGE SEE MAP TAB 5

5-Total Wells. 3-Active. 645 Gross Acres
GONZALES & MCMULLEN
Eagle Ford & Buda
Eagleville, Peach Creek & Giddings Fields
100% OPERATED WI; 75% NRI
Gross Production: 18 BOPD & 335 MCFD
Net Production: 13 BOPD & 251 MCFD
Net Cash Flow August 2015: ~$26,100/Mn
Net Proved Reserves: 204 MBO & 242 MMCF
Total Proved PV10 : $4,071,000
PP 5668

GROSS SUMMARY VIRTUAL DATA ROOM

- Accounting Data - LOS Summary & Revenue

Statements

- Engineering - Reserve Report & PHDWin

Database

- Land Data - Land Title & Assignments

- Legal - JOAs & COPAS

- Maps - Locations & Offset Acitvity Maps

- Facility Data - Lease Pictures & Vendor List

- Well Data - Comprehensive Well Data

Miranda Kennedy
Associate
Phone: 713-600-0156
Fax: 713-658-1922 --- See Data Tabs Below
mkennedy@plsx.com

PLS Inc.
One Riverway Ste 2500
Houston, TX 77056
Primera Energy, LLC - Well List
Gonzales & McMullen Counties, TX WELL
Field: Eagleville; Formation: Eagle Ford-1 LIST
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

Gross Net
Well Total IP First MCFED MCFED Cum Cum Cum Drill
Name API# Depth WI NRI MCFED Prod. BOPD MCFD (6:1) BOPD MCFD (6:1) Oil Gas MCFE Type
McMullen County - 2 Wells
Screaming Eagle A #2H 42-311-35222 12,465 100% 75% 1,980 May-13 5 148 175 3 111 131 16,009 361,992 458,046 H
-- Needs artificial lift.

Screaming Eagle A #3H 42-311-35588 12,293 100% 75% 1,812 Mar-14 10 188 249 8 141 187 13,517 190,810 271,912 H
-- Needs artificial lift.
-- The swab reports can be found in the VDR.
-- Post artificial lift, the McMullen County wells are anticipated to make 500 MCFD to 1.0 MMCFD.

Gonzales County - 2 Wells; 1 Permit

Screaming Eagle B #4H 42-177-33240 8,584 100% 74% 310 Sep-14 3 0 20 2 0 14 8,630 0 51,780 H
-- July 2015 Production: 374 BOPD
-- Screaming Eagle B 4H needs coil tubing washout to get back online.
-- Post coil tubing wash out, Screaming Eagle B 4H is anticipated to produce 30-50 BOPD.

Total: 18 335 443 13 251 332

Screaming Eagle B #6H 42-177-33553 8,500 100% 75% - Drilled; Awaiting Completion - Permit Iss: 12/09/14 H
-- Drilled and cased EF wellbore awaiting completion - adjacent to highly successful offsets.
-- Completion costs for Screaming Eagle B#6H should be about $1.2Million.
-- CRA1H (42-177-32266), a direct offset well, has been online for about 60 months. Cum: 181,500 BO and 95 MMCFG.

Black Hawk #1 (Buda) 42-177-33615 9,000 100% 75% - Not Yet Drilled - Permit Iss: 04/24/14 H
-- Field: Peach Creek/Giddings; Formation: Buda

Additional Notes:
-- Reduced LOE for Screaming Eagle B 4H in 2016. Site wil have electricity and generator will be released. (Savings of 25,000/Mn, incl. fuel cost)
-- The Gross and Net production values reflect production of the two McMullen County wells in August 2015.
-- Recent updates from seller indicate that Screaming Eagle B 4H, Gonzales County, has been producing intermittently. The Gross and Net production values do
not include these values. Nov 2015 production: ~88 BOPD (6 days on production).

- Source: TGS Longbow

Primera Energy, LLC - Monthly Production
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

BO MCF
GROSS SUMMARY Date /MN BOPD /MN
Aug-14 1,469 48 28,297
Sep-14 1,700 56 14,875
Oct-14 2,502 82 21,064
Nov-14 1,533 50 17,269
Dec-14 1,107 36 10,927
Jan-15 835 27 8,408
Feb-15 1,471 48 9,733
Mar-15 2,211 73 8,672
Apr-15 1,470 48 11,849
In July, Screaming Eagle Wells in McMullen County May-15 772 25 2,324
were shut down because of bankruptcy. Screaming Jun-15 1,064 35 6,367
Eagle B 4H was flowing low.
Jul-15 368 12 -
Aug-15 1,273 42 20,118
Sep-15 802 26 12,202
Oct-15 725 24 10,497
Nov-15 546 18 10,192
ADDITIONAL INFORMATION 3-Mn Avg 691 23 10,964
-- Total Proved Gross Oil Reserves (Mbbl): 275.9 Mbbl
-- Total Proved Gross Gas Reserves (MMcf): 325.8 MMcf Last 12 Mns:
-- Screaming Eagle B 4H was running low and is awaiting a coil tubing Total: 12,644 BO & 111,289 MCF
wash out..
Avg/mn: 1,054 BO & 9,274 MCF

BO MCF
NET SUMMARY Date /MN BOPD /MN
Aug-14 1,102 36 21,223
Sep-14 1,275 42 11,156
Oct-14 1,877 62 15,798
Nov-14 1,150 38 12,952
Dec-14 830 27 8,195
Jan-15 626 21 6,306
Feb-15 1,103 36 7,300
Mar-15 1,658 55 6,504
Apr-15 1,103 36 8,887
Primera Energy, LLC - Monthly Production
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)
May-15 579 19 1,743
Jun-15 798 26 4,775
Jul-15 276 9 -
Aug-15 955 31 15,089
Sep-15 602 20 9,152
Oct-15 544 18 7,873
Nov-15 410 13 7,644
ADDITIONAL INFORMATION 3-Mn Avg 518 17 8,223
-- PV10 Value: $4,071,000
--Total Proved Net Oil Reserves (Mbbl): 204.3 Mbbl Last 12 Mns:
--Total Proved Net Gas Reserves (MMcf): 242.28 MMcf Total: 9,483 BO & 83,467 MCF
-- Screaming Eagle B 4H needs coil tubing washout to get back online. Avg/mn: 790 BO & 6,956 MCF
Primera Energy, LLC - Monthly Production
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

API WI NRI BO MCF

Screaming Eagle B 4H Date /MN BOPD /MN
42-177-33240 100% 74%
Aug-14 - -
Sep-14 1,134 37 -
Oct-14 1,332 44 -
Nov-14 687 23 -
Dec-14 673 22 -
Jan-15 423 14 -
Feb-15 745 25 -
Mar-15 1,571 52 -
Apr-15 795 26 -
Screaming Eagle
Screaming Eagle BB 4H
4H was
was flowing
flowing low
low
andisis awating
awatingworkover.
workover. May-15 686 23 -
and
Jun-15 584 19 -
Jul-15 368 12 -
Aug-15 - - -
Sep-15 130 4 -
Oct-15 147 5 -
Nov-15 99 3 -
ADDITIONAL INFORMATION 3-Mn Avg 125 4 -
-- PV10 Value: $319,920
-- Net Oil Reserves (Mbbl): 19.01 Mbbl Last 12 Mns:
-- Screaming Eagle B 4H needs a coil tubing washout. In August 2015, Total: 6,221 BO
there was no production but some operating expenses were incurred.
Avg/mn: 518 BO

-- Needs to be cleaned out for a significant increase in production.

API WI NRI BO MCF

Screaming Eagle A 2H Date /MN BOPD /MN
42-311-35222 100% 75%
Aug-14 300 10 9,765
Sep-14 157 5 7,978
Oct-14 249 8 6,819
Nov-14 300 10 7,765
Dec-14 200 7 6,469
Jan-15 290 10 6,516
Feb-15 177 6 4,198
Mar-15 251 8 5,494
Apr-15 202 7 4,913
Primera Energy, LLC - Monthly Production
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)
May-15 86 3 2,270
In July,
In July, Screaming
Screaming Jun-15 100 3 2,478
Eagle AA 2H
Eagle 2H was
was shut
shut
in.
in. Jul-15 - - -
Aug-15 327 11 8,157
Sep-15 177 6 5,389
Oct-15 200 7 4,819
Nov-15 138 5 4,485
ADDITIONAL INFORMATION 3-Mn Avg 172 6 4,898
-- PV10 Value: $33,780
-- Net Oil Reserves (Mbbl): 1.54 Mbbl Last 12 Mns:
-- Net Gas Reserves (MMcf): 38.53 MMcf Total: 2,148 BO & 55,188 MCF
-- Net Cash Flow (August 2015): $10,186 Avg/mn: 179 BO & 4,599 MCF
-- Producing under a new sales contract with processing fees. Will be a
benefit when oil prices recover and the NGL revenue is better.
-- Production rates can be significantly enhanced with the artificial lifting
proposals.
-- Candidate for frac analysis and potential frac enhancement - Offset
wells have performed significantly better.
Primera Energy, LLC - Monthly Production
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

API WI NRI BO MCF

Screaming Eagle A 3H Date /MN BOPD /MN
42-311-35588 100% 75%
Aug-14 1,169 38 18,532
Sep-14 409 13 6,897
Oct-14 921 30 14,245
Nov-14 546 18 9,504
Dec-14 234 8 4,458
Jan-15 122 4 1,892
Feb-15 549 18 5,535
Mar-15 389 13 3,178
Apr-15 473 16 6,936
In May
May and
andJuly,
July, Screaming
Screaming Eagle
Eagle May-15 - - 54
In
AA 3H
3H was
was shut
shut in
inbecause
becauseof
of Jun-15 380 13 3,889
unpaid vendors
unpaid vendors andand bankruptcy
bankruptcy Jul-15 - - -
associatedissues.
associated issues.
Aug-15 946 31 11,961
Sep-15 495 16 6,813
Oct-15 378 12 5,678
Nov-15 309 10 5,707
ADDITIONAL INFORMATION 3-Mn Avg 394 13 6,066
-- PV10 Value: $69,000
-- Net Oil Reserves (Mbbl): 4.34 Mbbl Last 12 Mns:
-- Net Gas Reserves (MMcf): 47.25 MMcf Total: 4,275 BO & 56,101 MCF
-- Net Cash Flow (August 2015): $26,333 Avg/mn: 356 BO & 4,675 MCF
-- Producing under a new sales contract with processing fees (previous
contract canceled). This is a drag on the economics for this well right now,
but will be a benefit when oil prices recover and the NGL revenue is better.

-- Production rates can be significantly enhanced with the artificial lifting

proposals
-- Candidate for frac analysis and potential frac enhancement - Offset
wells have performed significantly better.
 MONTHLY
PRODUCTION

Gross
MCFD BOED
931 151
489 102
693 146
568 107
359 71
277 54
320 75
285 89
390 84
76 28
209 52
- 9
662 113
401 69
345 60
335 55
361 61

12,644 BO & 111,289 MCF

1,054 BO & 9,274 MCF

Net
MCFD BOED
698 152.59
367 103.10
520 148.34
426 108.83
270 72.24
207 55.17
240 76.31
214 90.21
292 84.99
 MONTHLY
PRODUCTION

57 28.60
157 52.43
- 9.08
496 114.13
301 69.96
259 61.05
251 55.38
270 62

9,483 BO & 83,467 MCF

790 BO & 6,956 MCF
 MONTHLY
PRODUCTION

Net
MCFD BOED
-
-
-
-
- 16
- 10
- 18
- 38
- 19
- 17
- 14
- 9
- -
- 3
- 4
- 2
- 3

6,221 BO
518 BO

Net
MCFD BOED
321 48
262 37
224 34
255 39
213 32
214 34
138 22
181 29
162 25
 MONTHLY
PRODUCTION

75 11
82 13
- -
268 42
177 27
159 25
148 22
161 24

2,148 BO & 55,188 MCF

179 BO & 4,599 MCF
 MONTHLY
PRODUCTION

Net
MCFD BOED
610 105
227 38
469 81
313 53
147 24
62 11
182 36
105 23
228 40
2 0
128 25
- -
393 73
224 40
187 33
188 31
200 35

4,275 BO & 56,101 MCF

356 BO & 4,675 MCF
Primera Energy, LLC - LOS Summary
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

Jul2015 Aug2015 Sep2015 Oct2015 Nov2015

Grand Total
8/8 Sales Volumes
Oil (BBL) 353 1,083 1,098 519 544
Gas (MCF) - 18,717 11,462 9,861 9,700
Revenues
Oil $ 15,877 $ 34,712 $ 38,849 $ 18,838 $ 18,458
Gas $ - $ 53,078 $ 28,467 $ 23,874 $ 23,559
Total Revenue: $ 15,877 $ 87,789 $ 67,316 $ 42,712 $ 42,017
Revenue Related Expenses
Production Taxes $ 730 $ 5,148 $ 2,354 $ 1,521 $ 1,397
Marketing and Transport $ - $ 1,497 $ 1,834 $ 1,578 $ 23,897
Total Revenue Expenses $ 730 $ 6,645 $ 4,188 $ 3,098 $ 25,294
-- Fuel charges in December were for oil required for the compressor. It is a one-time charge that will last for several months.
8/8ths Revenue Net of Tax $ 15,147 $ 81,144 $ 63,128 $ 39,614 $ 16,724

Net Revenue (Less RI & ORRI) $ 11,209 $ 60,484 $ 47,738 $ 30,037 $ 18,517

Lease Operating Expenses

PUMPING $ 2,750 $ 2,000 $ 2,750 $ 2,750 $ 2,750
CONTRACT LABOR $ 1,144 $ - $ - $ - $ 338
FIELD CONSULTING $ - $ - $ - $ - $ -
ENGINEERING $ 1,853 $ 2,668 $ 2,326 $ 2,294 $ 1,816
OVERHEAD $ - $ 12,564 $ 15,693 $ 10,691 $ -
SALT WATER DISPOSAL $ 15,155 $ - $ - $ - $ -
CHEMICALS - TREATING $ - $ - $ - $ - $ -
FUEL - POWER - UTILITIES $ - $ - $ - $ - $ -
HOT OIL & PARAFIN TREATMENTS $ - $ - $ - $ - $ -
WELL TESTING $ - $ - $ - $ - $ 90
SAMPLE ANALYSIS - TESTING $ - $ - $ - $ - $ -
TRANSPORTATION $ - $ 370 $ 748 $ - $ -
ROAD & LOCATION MAINTENANCE $ - $ - $ - $ - $ -
SUPPLIES $ 150 $ 150 $ 150 $ 150 $ 150
COMMUNICATIONS $ 9,731 $ 9,634 $ - $ 11,854 $ 5,765
REGULATORY $ - $ 49 $ 11 $ - $ -
RENTAL EQUIPMENT $ - $ - $ - $ - $ -
MISCELLANEOUS $ - $ - $ - $ - $ -
INSURANCE $ - $ - $ - $ - $ -
LEGAL $ - $ - $ - $ - $ -
ENVIRONMENTAL CLEANUP - DISP $ - $ - $ - $ - $ 12,791
LEASE USE GAS $ 3,897 $ 3,897 $ 3,897 $ 4,891 $ 3,897
Primera Energy, LLC - LOS Summary
Gonzales & McMullen Counties, TX
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

AD VALOREM TAX $ - $ - $ - $ - $ -
COMPRESSOR LEASE $ - $ - $ - $ - $ -
COMPRESSOR OPERATIONS $ - $ - $ - $ - $ -
COMPRESSOR MAINTENANCE $ - $ - $ - $ - $ -
COMPRESSOR REPAIRS $ - $ - $ - $ - $ -
PUMP MAINTENANCE $ - $ - $ - $ - $ -
PUMP REPAIRS $ - $ - $ - $ - $ -
REPAIRS & MAINTENANCE $ - $ - $ - $ - $ -
SAFETY SYSTEMS/SERVICE $ - $ - $ - $ - $ -
ENVIRONMENTAL CONTRACT LABOR $ - $ - $ - $ - $ -
MISC PUMPING $ - $ - $ - $ - $ -
CHART INTEG/METER CALIBRATIONS $ - $ - $ - $ - $ -
AUTO EXPENSE $ - $ - $ - $ - $ -
RENT HOUSE $ - $ - $ - $ - $ -
SWD REPAIRS $ - $ - $ - $ - $ -
SWD CHARGES $ - $ - $ - $ - $ -
OUTSIDE OPERATED LOE $ - $ - $ - $ - $ -
SHUT-IN ROYALTIES $ - $ - $ - $ - $ -
RENTAL-SURFACE/ROW/HOA $ - $ - $ - $ - $ -
SNOW REMOVAL $ - $ - $ - $ - $ -
Total Lease Operating Expenses $ 34,680 $ 31,332 $ 25,575 $ 32,630 $ 27,596

Net Profit (Loss) $ (23,471) $ 29,151 $ 22,163 $ (2,593) $ (9,079)

Total Workover Expenses $ 10,431 $ 19,158 $ 8,471 $ 890 $ 15,722

-- There were several workover and other one time expenses associated with bringing the wells back into production and into compl
-- In January 2016, LOE for Screaming Eagle B 4H will be reduced as site will have electricity and the generator will be released. (Sav
cost and $15,000/month in fuel cost).
-- In July, fuel costs were reported for Screaming Eagle B 4H. No, further fuel costs were incurred as the well has since been awaiting
-- In July, the revenues are lower as production was very low because of unavialibility of compressor for some of the wells. Also, gene
for Screaming Eagle B 4H.
-- Workover expenses are not included in Net Profit Totals.
 LOS
SUMMARY

6-Mn 6-Mn
Dec2015 Total Average

736 4,332 722

7,440 57,180 9,530

$ 21,151 $ 147,885 $ 24,648

$ 16,149 $ 145,128 $ 24,188
$ 37,300 $ 293,013 $ 48,835

$ 979 $ 12,129 $ 2,021

$ 19,809 $ 48,615 $ 8,103
$ 20,788 $ 60,744 $ 10,124
time charge that will last for several months.
$ 16,512 $ 232,269 $ 38,712

$ 17,284 $ 185,269 $ 30,878

$ 2,750 $ 15,750 $ 2,625

$ 1,404 $ 2,885 $ 481
$ - $ - $ -
$ 2,268 $ 13,225 $ 2,204
$ 7,661 $ 46,609 $ 7,768
$ 5,250 $ 20,405 $ 3,401
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ 90 $ 15
$ - $ - $ -
$ - $ 1,118 $ 186
$ - $ - $ -
$ 150 $ 900 $ 150
$ 5,765 $ 42,748 $ 7,125
$ - $ 60 $ 10
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ 12,791 $ 2,132
$ 3,897 $ 24,376 $ 4,063
 LOS
SUMMARY

$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ 29,144 $ 180,957 $ 30,160

$ (11,860) $ 4,312 $ 719

$ - $ 54,671 $ 9,112

ng the wells back into production and into compliance on the H2S.
electricity and the generator will be released. (Savings of approx $10,000/month in rental

were incurred as the well has since been awaiting workover.

ty of compressor for some of the wells. Also, generator rental and fuel costs were incurred
Primera Energy, LLC - Location Maps By County
Gonzales & McMullen Counties, TX Map
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

Package Overview
Primera Energy, LLC - Location Maps By County
Gonzales & McMullen Counties, TX Map
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)
Primera Energy, LLC - Location Maps By County
Gonzales & McMullen Counties, TX Map
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

McMullen County, TX - 2 Wells

Primera Energy, LLC - Location Maps By County
Gonzales & McMullen Counties, TX Map
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)
Primera Energy, LLC - Location Maps By County
Gonzales & McMullen Counties, TX Map
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

Gonzales County, TX - 2 Wells & 1 Permit

Primera Energy, LLC - Location Maps By County
Gonzales & McMullen Counties, TX Map
5 Total Wells (3 Active)
Gross Production (Nov-15): 18 BOPD & 335 MCFD (443 MCFED 6:1)
Net Production (Nov-15): 13 BOPD & 251 MCFD (332 MCFED 6:1)

- Source: TGS Longbow