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Oil & Gas

AuctionJune 15nd, 2018

Registration @ 9:00amOpening Terms & Conditions/Comments @ 9:50amAuction Begins @ 10:09amLunch Served @ 11:30amThe Wichita Boathouse515 S. Wichita StreetWichita, KS 67202

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Auction Lot Information Guide

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Lot Lease name Interest Type County, State Operator1 Seib #1 ORRI Ness, KS Brehm Asset Management2 Lindholm Royalty Interest Kingman, KS Woolsey Operating Company. LLC3 Latimer Minerals Non-Producing

MineralsLatimer, OK

4 Hrabe D2, D1, Westhusin 1 Operated Lease Rooks, KS Garo Investment Company5 Pierce-Arrow Package Royalty Interest Crockett, TX Thompson, J. Cleo6 Bettie Lee 1 Operated Lease kay, OK Klinger Energy, Inc.7 Combined with Lot 68 Lippelmann ORRI Thomas, KS ELK Energy Holdings LLC8a Lippelmann ORRI Thomas, KS ELK Energy Holdings LLC9 Combined with Lot 610 Combined with Lot 611 Hunter 1-25 ORRI Stafford, KS Rama Operating Co12 Combined with Lot 612a Rohleder Trust PWI Logan, KS Red Oak Energy12b Walker PWI Logan, KS Red Oak Energy13 Combined with Lot 614 Nancy Betty Lukens ORRI Barber, KS Charles N Griffin15 Combined with Lot 616 Gould Operated Lease Logan, KS Murfin Drilling Co., Inc.17 Belle PWI Barber, KS Charles, N. Griffin18 Mowry Trust ORRI Graham, KS Red Oak Energy, Inc.19 Dible ORRI Wallace, KS McGinness Oil Co20 Hess-Christy Operated Lease Logan, KS Grand Mesa Operating Company20a Hess-Christy ORRI Logan, KS Grand Mesa Operating Company20b Hess-Christy ORRI Logan, KS Grand Mesa Operating Company21 Harris B/Rugan PWI Barton, KS Big O LLC22 American Oil Graham

PackageOperated Lease Graham, KS American Oil LLC.

23 Lang ORRI Stafford, KS Coral Production Co.24 Shannon PWI Russell, KS Big O LLC25 Hund Operated Lease Gove, KS Grand Mesa Operating Company25a Hund ORRI Gove, KS Grand Mesa Operating Company25b Hund ORRI Gove, KS Grand Mesa Operating Company

Table of Contents for June 15th, 2018 AuctionAuction starts promptly at 10:09am!

Lot Lease name Interest Type County, State Operator26 Krug #1 PWI Russell, KS Big O LLC27 Swob 1 ORRI Rush, KS Black Stone Petroleum, LLC28 HWZ Operated Lease Gove, KS Grand Mesa Operating Company28a HWZ ORRI Gove, KS Grand Mesa Operating Company28b HWZ ORRI Gove, KS Grand Mesa Operating Company29 MAP Operated Lease Gove, KS Grand Mesa Operating Company29a MAP ORRI Gove, KS Grand Mesa Operating Company29b MAP ORRI Gove, KS Grand Mesa Operating Company30 NLT Operated Lease Trego, KS Grand Mesa Operating Company30a NLT ORRI Trego, KS Grand Mesa Operating Company30b NLT ORRI Trego, KS Grand Mesa Operating Company31 S & L Operated Lease Gove, KS Grand Mesa Operating Company31a S & L ORRI Gove, KS Grand Mesa Operating Company31b S & L ORRI Gove, KS Grand Mesa Operating Company32 SC-LR Operated Lease Scott, KS Grand Mesa Operating Company32a SC-LR ORRI Scott, KS Grand Mesa Operating Company32b SC-LR ORRI Scott, KS Grand Mesa Operating Company33 STOLL Operated Lease Scott, KS Grand Mesa Operating Company33a STOLL ORRI Scott, KS Grand Mesa Operating Company33b STOLL ORRI Scott, KS Grand Mesa Operating Company34 Heard ‘N’ Operated Lease Gove, KS Reef Operating, Inc.35 Smith Operated Lease Gove, KS Reef Operating, Inc.36 Worchester Operated Lease Graham, KS Reef Operating, Inc.37 Wernli Operated Lease Greenwood,

KSIGWT, Inc.

38 Swob 1 ORRI Rush, KS Black Stone Petroleum, LLC39 Zelda #1 PWI Love, OK L. E Jones Operating40 Dody “1A” and Dody “C” Operated Lease Haskell, KS Western Pacific Farms, Inc.41 Gresham John Unit ORRI Leon, TX Covey Park operating, LLC42 Murfin Statton Compressor Equipment Clark, KS N/A43 Madden ‘A’ #1, 2 & 4

SWD, Massier ‘A’ #1-9, KST ‘A’ #1-3

PWI Ellis, KS McCoy Petroleum Corp



Lot Lease name Interest Type County, State Operator44 Sims PWI Pawnee, KS Big O LLC45 Denker J PWI Stafford, KS Big O LLC46 Gerhardt Trust ORRI Stafford, KS Coral Production Corp47 Boese I #1 ORRI Ness, KS Pickrell Drilling Company Inc.48 L. Harrison Operated Lease Stafford, KS Thomas Garner Inc.49 Lippellmann Operated Lease Decatur, KS Murfin Drilling Company Inc.50 Ritter ‘A’ #1-32 and Evelyn

‘A’ #1-27PWI Decatur, KS Great Plains Energy

51 Shirley Operated Lease Decatur, KS Murfin Drilling Company, Inc.52 Caroline #1 PWI Barber, KS Charles N. Griffin53 Wessler, Collingwood,

Lambert, WettsteinOperated Lease Seward, KS Western Pacific Farms

54 3D Family-Hannah ORRI Gove, KS Palomino Petroleum Inc.55 Goering J ORRI McPherson, KS Olympic Oil Inc.56 Goley/Beachner/Hobson/

BarnesOperated Lease Crawford &

Labette, KSLegend Energy, LLC

57 Stull ORRI Pratt, KS Siroky Oil Management58 Spangenberg 35-3 ORRI Stafford, KS Coral Production Co.59 Lot Removed60 Dan state 1-31 WI Cleveland, Ok Zenergy, Inc.61 Ratzlaff #3-8 WI Beaver, OK Raydon Exploration62 Levigne Unit RI Liberty, TX Ballard Exploration Company, Inc.63 Jendrusch Unit RI Karnes, TX Encana Oil & Gas In.64 Janne Lease Operated Lease Russell, KS H&D Exploration, LLC65 LB Exploration PWI Package PWI Barber, KS LB Exploration66 Blatner Unit #1 ORRI Ness, KS Palomino Petroleum, Inc.67 Gwen #1 ORRI Ness, KS Brehm Asset Management68 Jean Gerber Minerals Mineral Acres Barber, KS N/A69 Terese #1H ORRI Barber, KS Griffin Management, LLC70 Wells 1-9 ORRI Ness, KS Grand Mesa Operating Company71 Simpson 1-4 ORRI Ness, KS Grand Mesa Operating Company72 Sargent 1-20 ORRI Ness, KS Grand Mesa Operating Company73 Rothe 1-18 ORRI Ness, KS Grand Mesa Operating Company74 Breit-Hoss 1-22 ORRI Ness, KS Grand Mesa Operating Company


Lot Lease name Interest Type County, State Operator75 Hoss 1-27 ORRI Ness, KS Grand Mesa Operating Company76 Harris 1-2 ORRI Ness, KS Grand Mesa Operating Company77 Ponce Lease Minerals RI Rice, KS Kraft Oil and Gas LLC

Lot #1Lease Name Type Operator Legal DescriptionSeib #1 ORRI Brehm Asset Manage-

mentNE Sec 27 20S 21W

County & State Decimal Interest Acres Operating Expenses Income (5mo)Ness, KS .0025 10 $130.66Seller comments $26.13/mo

Attention Bidders20% due day of sale on purchased lots.Qualification to Bid: Bidders are required to register in advance of the sale. This auction of oil and gas properties is made only to selected parties willing to attend and are responsible, and is intended only for parties who are qualified. This sale brochure, and all other notices of the sale, are not intended as a public offering. This sale brochure does not constitute an offer or solicitation to pur-chase or an offer or solicitation to sell to any person in a state where the laws of such state prohibit such offers.

Lot #2Lease Name Type Operator Legal DescriptionLindholm Royalty Interest Woolsey Operating

Company, LLCE/2 SW Sec 14 28S 5W

County & State Decimal Interest Acres Operating Expenses Income (12mo)Kingman, KS .015625 80 $337.74Seller comments $28.15/moCheck stubs available at mceeauction.com/brochure

Lot #3Lease Name Type Operator Legal DescriptionLatimer Minerals Non-Producing Minerals Sec 4 6N 20ECounty & State Decimal Interest Acres Operating Expenses IncomeLatimer, OK 5.625 Net Mineral AcresSeller commentsOpen Minerals

Lot #4Lease Name Type Operator Legal DescriptionHrabe D2, D1, West-husin 1 (w/ injection well)

Operated Lease Garo Investment Company Hrabe: Sec 12 09S 17W & Westhusin: Sec 11 09S 17W

County & State GWI NRI Operating Expenses IncomeRooks, KS 100% .82 $1,876/moSeller commentsNew tank battery with heater ($6,000.00) Total Expenses: Pumper $500, Chemical $376, Electrical $1,000 New pumpjack on the Hrabe D1 would increase lease production by 3-4 per day. There is another drillsite on the Westhusin lease.

Additional info and drone video available at mceeauction.com/brochure

Pump went down on the primary well when the price of oil was low, so it wasn’t replaced. A new pump would increase the production to 7-8 BOPD, and a larger pump would increase it to 10BOPD. MIT test will be completed the week prior to auction.

Well Number Producing Formation

Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day

Cumulative Oil Production

Cumulative Gas pro-duction

Hrabe D1Hrabe D2

Lansing 11/13/67 11/18/67 1.49 BOPD

N/A 72,407.53 N/A

Westhusin 1 API 15-163-22398

Kansas City Group

06/04/84 07/07/84 .30 BOPD N/A 109.369.12 N/A

Lease Name Type Operator Legal DescriptionWesthusin ORRI Garo Investment

CompanyWesthusin: Sec 11 09S 17W

County & State Decimal Interest Operating Expenses Income (12mo)Rooks, KS .0625 $348.21Seller commentsCheck stubs available at mceeauction.com/brochure


Lot #5Lease Name Type Operator Legal DescriptionPierce-Arrow Package Royalty Interest Thompason, J. Cleo See additional informationCounty & State Decimal Interest Acres Operating Expenses Income (3mo)Crocket, TX See additional

information$273.30

Seller comments $91.10/moThe wells in this package are located primarily in the Canyon Sand formation within the Permian Basin, located in Crockett County, Texas.The Permian Basin has been a fixture in the oil industry for nearly a century. Located in southwestern Texas and southeastern New Mexico, the Permian is a large oil basin 250 miles wide and 300 miles long, with an estimated 20 billion barrels of undiscovered oil still sitting underground. Currently, the EIA reports that the Permian is producing 2.2 million barrels of oil per day, accounting for 23 percent of current US crude oil production: more than the Bakken and Eagle Ford combined. Recently, operators have stepped up competition in the area. In 2016, the oil industry spent $28 billion on land acquisitions in the Permian, which was three times the amount spent in 2015. These purchases constituted 39 percent of all deals nationally, with no other single major U.S. oil region seeing activity more than one third of that $28 billion number. This has translated into increased drilling, with the number of rigs in the basin up 28 percent in the past year. In short, the Permian Basin is one of the largest contributors to a resurgence in American oil. 55 horizontal producing wells. 5.26% oil, 35.35% gas, 59.39% NGL Cash flow represents 10% of check statements.

Additional information available at mceeauction.com/brochure


Lot #6Lease Name Type Operator Legal DescriptionBettie Lee 1 Operated Lease Klinger Energy, Inc. NW4 Sec 25 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, Ok 100% .78Seller comments40 Acres Crude purchased by Coffeyville Resources Ref. & Mktg. LLC Gas purchased by Mustang Gas Products, LLC Currently shut-in.See mceeauction.com/brochure for well informationLease Name Type Operator Legal DescriptionBrown 2 Operated Lease Klinger Energy, Inc. C NW NW Sec 25 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, Ok 100% .78Seller comments60 AcresCrude purchased by Coffeyville Resources Ref. & Mktg. LLCGas purchased by Mustang Gas Products, LLCSee mceeauction.com/brochure for well informationLease Name Type Operator Legal DescriptionBrown-Lebeda 1 Operated Lease Klinger Energy, Inc. C SE NW Sec 25 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, Ok 100% .875Seller comments20 AcresGas purchased by Mustang Gas Products, LLCCurrently shut in.See mceeauction.com/brochure for well information.Lease Name Type Operator Legal DescriptionNancy A2 Operated Lease Klinger Energy, Inc. NW Sec 20 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, OK 100% .8125Seller comments40 AcresCrude purchased by Coffeyville Resources Ref. & Mktg. LLCGas purchased by Mustang Gas Products, LLCSee mceeauction.com/brochure for well information.


Lot #6 cont.Lease Name Type Operator Legal DescriptionNancy B1 Operated Lease Klinger Energy, Inc. NE Sec 20 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, Ok 100% .8125Seller comments40 AcresCrude purchased by Coffeyville Resources Ref. & Mktg. LLCGas purchased by Mustang Gas Products, LLCCurrently shut-inSee mceeauction.com/brochure for well information

Lease Name Type Operator Legal DescriptionPagel A Operated Lease Klinger Energy, Inc. NW Sec 25 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, Ok 100% .865Seller comments20 AcresCrude purchased by Coffeyville Resources Ref. & Mktg. LLCGas purchased by Mustang Gas Products, LLCCurrently shut-in.See mceeauction.com/brochure for well informationLease Name Type Operator Legal DescriptionReis 2 Operated Lease Klinger Energy, Inc. NW Sec 35 25N 01ECounty & State GWI NRI Operating Expenses IncomeKay, Ok 100% .78Seller comments81 AcresCrude purchased by Coffeyville Resources Ref. & Mktg. LLCGas purchased by Mustang Gas Products, LLCSee mceeauction.com/brochure for well information

Current production: Pagel A is .3 BOPD, gas is 8 MCF/D. Has been shut in for several months. 3.5 BWPDBrown 2 is .48 BOPD, gas is .86 MCF/D. 2.5 BWPDBettie Lee is .7 BOPD, gas is 1.5 MCF/D. Has been shut in for several months. 80 BWPDNancy A2 is .32 BOPD, gas is 4.8 MCF/D. 3.5 BWPDReis 2 is .15 BOPD, gas is 5 MCF/D. 2 BWPDNancy B1 I’ve never produced since I’ve owned it.Brown-Lebeda 1 has been shut in for several months.

Reis 2 is perf’d in the Miss Chat, just needs acidized and fracked.

Operator has a commercial swd that the Pagel A, Brown 2, Bettie Lee, and Brown-Lebeda 1 are hooked up to. The Reis 2 is within 50’ of a 2” poly line that goes to this swd. Nancy A2 water operator has been hauling with his own truck. Water produc-tion from all these wells amounts to about 100 bbl/d.

Salt water agreement with operator: 2yr contract. First year no charge on first 200bbl/day then 25 cents/bbl over 200/day. Second year 25 cents/bbl on all water. Contract will be up for renewal after second year.Operator has another business that’s taking his attention and funding. He can’t do what needs to be done with these leases.

Lot #8Lease Name Type Operator Legal DescriptionLippelmann ORRI ELK Energy Holdings LLCCounty & State Decimal Interest Acres Operating Expenses Income (6mo)Thomas, KS .01 $5,079.18Seller comments $846.53/moWell bore only ORRI. Lot 8a is an identical interest.Nov-17 $475.66 Dec-18 $809.28 Jan-18 $807.19 Feb-18 $879.20 Mar-18 $978.19 Apr-18 $1,219.66 Well sold 1,954 BBL from May 1 to May 22 Lease sold 11,488 BBL in 152 days from 1/21/17 through 05/22/18 Averaged 75.5 BOPDThe Lippelmann went down 5/22/18 for what was believed to be a tubing leak. After long stroking the pump, production was regained. June 6-2018 production was 89BBLRun statements available at mceeauction.com/brochure

Lot #8aLease Name Type Operator Legal DescriptionLippelmann ORRI ELK Energy Holdings LLCCounty & State Decimal Interest Acres Operating Expenses Income (6mo)Thomas, KS .01 $5,079.18Seller comments $846.53/moWell bore only ORRI. Lot 8 is an identical interest.Nov-17 $475.66 Dec-18 $809.28 Jan-18 $807.19 Feb-18 $879.20 Mar-18 $978.19 Apr-18 $1,219.66 Well sold 1,954 BBL from May 1 to May 22 Lease sold 11,488 BBL in 152 days from 1/21/17 through 05/22/18 Averaged 75.5 BOPDThe Lippelmann went down 5/22/18 for what was believed to be a tubing leak. After long stroking the pump, production was regained. June 6-2018 production was 89BBLRun statements available at mceeauction.com/brochure

Lot #11Lease Name Type Operator Legal DescriptionHunter 1-25 ORRI Rama Operating Co. NE Sec 25 24S 12WCounty & State Decimal Interest Acres Income (2017) Income 4 months (2018)Stafford, KS .013672 160 $1,227.88 $536.96Seller comments $102.32/mo $134.24/mo2014 – 2049 BBL2015 – 1299 BBL2016 – 1310 BBL2017 – 1807 BBL2018 through Feb – 347 BBL

Lot #12aLease Name Type Operator Legal DescriptionRohleder Trust PWI Red Oak Energy NE Sec 35 11S 32WCounty & State GWI NRI Operating Expenses Income (5mo)Logan, KS .015 .012 $320.49 $1,928.92Seller comments $64.10/mo $385.78/mo2 well lease

Lot #12bLease Name Type Operator Legal DescriptionWalker PWI Red Oak Energy SE Sec 25 16S 35WCounty & State GWI NRI Operating Expenses Income (5mo)Logan, KS .01332 $135.96 $1,894.03Seller comments $27.19/mo $378.81/mo30,396bbls


Lot #14Lease Name Type Operator Legal DescriptionNancy ORRI Charles N Griffin SW14 & E2SE Sec 15 32S 12W less ROWCounty & State Decimal Interest Acres Operating Expenses IncomeBarber, KS .001 236 MOL None $9/moSeller commentsLease produces 5.01 BOPD and 7 MCFDLease Name Type Operator Legal DescriptionBetty ORRI Charles N Griffin NW/14 and S2NE Sec 15 32S 12W

County & State Decimal Interest Acres Operating Expenses IncomeBarber, KS .00175 200 MOL $19/moSeller comments

Lease produces 6.68 BOPDLease Name Type Operator Legal DescriptionLukens ORRI Charles N Griffin Part of Sec 12 32S 12W and part of

Sec 7 32S 11WCounty & State Decimal Interest Acres Operating Expenses IncomeBarber, KS .001 250MOL None $7/moSeller comments

Lease produces 4.2 BOPDLease Name Type Operator Legal DescriptionAngell ORRI Charles N Griffin W/2 and W/2 E/2 Sec 1

SW and S/2 NW and E/2 Sec 2N/2 Sec 11S/2 NE and NW Sec 1233S 14W

County & State Decimal Interest Acres Operating Expenses IncomeBarber, KS .00125 1600 MOL None $7/moSeller comments

Lease produces 3.34 BOPD

Total Lot Income: $504.00 (2017) $42/mo based on $50.88/BBL oil price


Lot #16Lease Name Type Operator Legal DescriptionGould Operated Lease Murfin Drilling Co., Inc. NE Sec 11 11S 32WCounty & State GWI NRI Operating Expenses Incomelogan, KS 100% 0.84949690Seller commentsCrude purchased by MV Purchasing37 API Gravity Production2013 – 1,596 bbl2014 – 1,129 bbl2015 – 1,288 bbl2016 – 1,300 bbl2017 – 639 bbl through 11-2017

Monthly costs (per month)Pumper $300Electricity $226Chemicals $277SWD $1900

Well was down 4/17 to 8/17Well last pulled 8/15/17. Pressure tested tubing, rebuilt rod pump.

Drone footage available online at mceeauction.com/brochureWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-11 LKC, Lenepah, Johnson

9-3-83 10-24-83 3.2 0 33 97,285 0

Surface Casing Production Casing

Tubing Rods Pump Pumping Unit

Engine Tank Battery Separator Treater

8 5/8 265′ 4 1/2 4654′ 2 3/8 4566′

3/4″ (182) 2″ x 2.5″ x 12′ rod pump

American 114-133-54

40HP electric

(1) 10′ x 10′ FG GB, (2) 12’x10′ WSST, (1) 12’x10′ FGWT closed to

N/A


Lot #17Lease Name Type Operator Legal DescriptionBelle #1 and #2 PWI Charles N. GriffinCounty & State GWI NRI Operating Expenses Income (12mo)Barber, KS .02 .016 $1,021.57 $4,904.64Seller comments $85.13/mo $408.72/moCash flow available at mceeauctino.com/brochure

Lot #18Lease Name Type Operator Legal DescriptionMowry Trust ORRI Red Oak Energy, Inc. S/2 Sec 21 8S 25WCounty & State Decimal Interest Acres Income (2017) Income 4 months (2018)Graham, KS .009375 320 $754.55 $341.39Seller comments $62.87/mo $85.35/mo2014 – 3223 BBL2015 – 2733 BBL2016 – 1930 BBL2017 – 1626 BBL2018 through Feb – 327 BBL

Lot #19Lease Name Type Operator Legal DescriptionDible ORRI McGinness Oil Co NE Sec 25 15S 42WCounty & State Decimal Interest Acres Income (2017) Income 4 months (2018)Wallace, KS .03125 160 $2,080.31 $1,185.94Seller comments $173.35/mo $296.49/mo2014 – 2185 BBL2015 – 1825 BBL2016 – 1315 BBL2017 – 1487 BBL2018 – 317 BBL through Feb


Lot #20Lease Name Type Operator Legal DescriptionHess-Christy Operated Lease Grand Mesa Operating

CompanySW NE NE NE Sec 34 13S 32W

County & State GWI NRI Operating Expenses Income (12mo)Logan, KS 100% .8050781 $28,180.33 $24,704.00Seller comments $2,348.36/mo $2,058.75/mo320 AcresCrude purchased by CHS McPherson Refinery Inc.27° Oil Gravity

Cash flow and drone footage available at mceeauction.com/brochure


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-34 CHRK 9-07-11 11-02-11 1.6 0 .3 14695 0




8 5/8″ 23# @ 220′

5 1/2″, 15.5# J-55 @ 4669’

2 7/8″ @ 4589′

61-7/8″ 124-3/4″2-7/8 PONY ROD

2 1/2 X 2 X 16 RWT

SENTRY C-160-200-74

C-96 3-200BBL WSST1-210BBL FGGB 1-200BBL FGSWT

N/A

Lot #20aLease Name Type Operator Legal DescriptionHess-Christy ORRI Grand Mesa

Operating CompanySW NE NE NE Sec 34 13S 32W

County & State Decimal Interest Income (12mo)Logan, KS .01279687 $392.89Seller comments $32.74/mo

Lot #20bLease Name Type Operator Legal DescriptionHess-Christy ORRI Grand Mesa

Operating CompanySW NE NE NE Sec 34 13S 32W

County & State Decimal Interest Income (12mo)Logan, KS .013125 $403.00Seller comments $33.58/mo

Lot #21Lease Name Type Operator Legal DescriptionHarris B PWI Big O LLC Sec 30 19S 12WCounty & State GWI NRI Operating Expenses Income (11mo)Barton, KS .75 .65625 $110,581.62 $75,252.03Seller comments $10,052.87/mo $6,841.09/moHarris B water goes to Rugan SWD

Cash flow from 4/2017 thru 3/2018

7.50 BOPD

For any questions please call Rick Kirkpatrick 620-791-7709 or Greg Feist 620-793-0205Lease Name Type Operator Legal DescriptionRugan PWI Big O LLC Sec 25 19S 13WCounty & State GWI NRI Operating Expenses Income (11mo)Barton, KS .75 .5859375 $30,760.68 $43,307.31Seller comments $2,796.43/mo $3,937.02/moCash flow from 4/2017 thru 3/2018

4.18 BOPD

For any questions please call Rick Kirkpatrick 620-791-7709 or Greg Feist 620-793-0205

Total Lot Income: $10,778.29/mo

Lot #22Lease Name Type Operator Legal DescriptionDenning #1 Operated Lease American Oil LLC. SE SE SW Sec 32 9S 21WCounty & State GWI NRI Operating Expenses IncomeGraham, KS 100% .80Seller comments $1,187.60/mo3BBL/day average over last 30 days

4000 BBLS PolymerJune 22nd, 2016—-June 25th, 2016Drilled 1950Cumulative Production: 297,397.82 BBLSNew 5.5” welded liner set @ 3825Open Hole Arbuckle 3828-38342 7/8 Tubing

See mceeauction.com/brochure for additional informationLease Name Type Operator Legal DescriptionRudman #3 Operated Lease American Oil LLC. NW NE Sec 4 10S 21WCounty & State GWI NRI Operating Expenses IncomeGraham, KS 100% .80Seller comments $1,189.67/moCurrently not producing.

5720 BBLS PolymerJune 16th, 2016—-June 20th, 2016Drilled 2006Cumulative Production: 13,437.57 BBLS5 1/2” CasingArbuckle Perfs 3856-3876 4spfCased TD 3916

See mceeauction.com/brochure for additional information


Lot #22 (cont)Lease Name Type Operator Legal DescriptionRudman #2 Operated Lease American Oil LLC. NW NE Sec 5 10S 21WCounty & State GWI NRI Operating Expenses IncomeGraham, KS 100% .80Seller comments $1,569.40/moCurrently not producing.

2800 BBLS PolymerJune 26th, 2016—-June 28th, 2016Drilled 1950Cumulative Production: 328,948.05 BBLS5 1/2” CasingArbuckle Open Hole 3843-3847

See mceeauction.com/brochure for additional informationLease Name Type Operator Legal DescriptionYost Operated Lease American Oil LLC. SW Sec 21 9S 21WCounty & State GWI NRI Operating Expenses IncomeGraham, KS 100% .80Seller commentsYost #1Drilled 20035 1/2” Casing2 7/8” Tubing ¾” RodsProducing Formation: LansingCIBP set over ArbuckleYost #2Drilled 20042 3/8” Tubing ¾” Rods5 ½” CasingProducing Formation: LansingYost #3Drilled 20145 1/2” Casing2 7/8” Tubing¾” RodsProducing Formation: ArbuckleProducing 6BOPDSee mceeauction.com/brochure for additional information

Lot #22 (cont)Lease Name Type Operator Legal DescriptionSmith #6 SWD Operated Lease American Oil LLC. NW Sec 5 10S 21WCounty & State GWI NRI Operating Expenses IncomeGraham, KS 100% .80Seller commentsInjection Zone: ArbuckleMax injection rate: 2500 BBL/day

Yost 6.0 bopd Denning 3.0 bopd Rudman not producing. Operator pulled tubing, rods, and pumping unit on Rudman for another project. Rudman 3 produces 6-8 bopd moving 200 bbl total fluid. Rud-man 2 produces 5 bopd moving 800 bbl total fluid. Package produces 9 bopd today but capable of 22 - 24 with Rudman online. All water goes to Smith SWD which is selling with this package. Smith capable of accepting 2500 bwpd

See mceeauction.com/brochure for lot drone footage and additional information

Lot #23Lease Name Type Operator Legal DescriptionLang ORRI Coral Production Co. SE NW Sec 2 13S 16WCounty & State Decimal Interest Acres Income (12mo)Ellis, KS .00673 120 $267.14Seller comments $22.26/mo2014 – 963 BBL2015 – 654 BBL2016 – 829 BBL2017 – 634 BBL2018 – through Jan 163 BBL

Lot #24Lease Name Type Operator Legal DescriptionShannon PWI Big O LLC Sec 36 12S 14WCounty & State GWI NRI Operating Expenses Income (11mo)Russell, KS .75 .65625 $18,330.42 $20,283.48Seller comments $1,666.40/mo $1,843.95/moShannon water goes to Krug injection well

Cash flow from 4/2017 thru 3/2018

2.07 BOPD


Lot #25Lease Name Type Operator Legal DescriptionHund Operated Lease Grand Mesa Operating

CompanySE SW NE SW Sec 9 14S 31W

County & State GWI NRI Operating Expenses Income (12mo)Gove, KS 100 .8125 $36,575.98 $18,600.59Seller comments $3,047.99/mo $1,550.05/mo320 AcresCrude purchased by CHS McPherson Refinery Inc.30° Oil GravityOperator pays landowner $1,000/yr to dispose of the Hund water. See mceeauction.com/brochure for cash flow and drone footage


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-9 MRRW 2-17-11 3-31-11 1.4 0 8.6 15728 0




8 5/8 23# @ 222’ 5 1/2″, 15.5# @ 4685′

2 7/8″ @ 4595′

60-7/8″123-3/4″2-7/8 PONY RODS

2 1/2 X 1 1/2 X 14 RWT

SENTRY C-160-200-74


N/A

Lot #25aLease Name Type Operator Legal DescriptionHund ORRI Grand Mesa

Operating CompanySE SW NE SW Sec 9 14S 31W

County & State Decimal Interest Income (12mo)Gove, KS .00975 $223.33Seller comments $18.61/mo

Lot #25bLease Name Type Operator Legal DescriptionHund ORRI Grand Mesa

Operating CompanySE SW NE SW Sec 9 14S 31W


Lot #26Lease Name Type Operator Legal DescriptionKrug #1 PWI Big O LLC Sec 1 13S 14WCounty & State GWI NRI Operating Expenses Income (12mo)Russell, KS .75 .65625 $14,714.67 $15,053.49Seller comments $1,337.70/mo $1,368.50/moCash flow from 4/2017 thru 3/20181.50 BOPDFor any questions please call Rick Kirkpatrick 620-791-7709 or Greg Feist 620-793-0205

Lot #27Lease Name Type Operator Legal DescriptionSwob 1 ORRI Black Stone Petroleum LLC SW Sec 26 18S 16WCounty & State Decimal Interest Acres Operating Expenses Income (11mo)Rush, KS .0025 160 $0 $1,992.49Seller comments $181.14/mo There were gas shows during the drilling of the Swob wells. The Swob is in the Otis-Albert Field, which is famous for its helium production. There are 2 additional locations identified by 3D seismic and one of these has an approved drilling intent on file with the KCC. The #2 well is strategically located for fu-ture EOR in the Reagan Sand. H2Oil successfully drilled and completed a horizontal Reagan Sand well a couple of sections over from the Swob Lease.

Oil purchased by Shell and BlackRock Midstream.

Lot #38 is an identical interest in this lease.

Lot #28Lease Name Type Operator Legal DescriptionHWZ Operated Lease Grand Mesa Operating

CompanySE SE SE NW Sec 14 13S 31W

County & State GWI NRI Operating Expenses Income (12mo)Gove, KS 100 .81875 $23,311.52 $18,889.91Seller comments $1,942.62/mo $1,574.16/mo400 AcresCrude purchased by CHS McPherson Refinery Inc.39° Oil GravitySee mceeauction.com/brochure for cash flow and drone footageWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-14 MSSP 11-13-12 1-4-13 1 0 .5 5816 0




8 5/8″ 24# @ 220′

5 1/2″, 15.5# @ 4357′

2 7/8″ @ 4320′

57-7/8″115-3/4″2-7/8 PONY RODS

2 1/2 X 1 1/2 X 14 RWT

SENTRY C-160-200-74


N/A

Lot #28aLease Name Type Operator Legal DescriptionHWZ ORRI Grand Mesa

Operating CompanySE SE SE NW Sec 14 13S 31W


Lot #28bLease Name Type Operator Legal DescriptionHWZ ORRI Grand Mesa

Operating CompanySE SE SE NW Sec 14 13S 31W


Lot #29Lease Name Type Operator Legal DescriptionMAP Operated Lease Grand Mesa Operating

CompanyNW SW NE NE Sec 35 13S 31W

County & State GWI NRI Operating Expenses Income (12mo)Gove, KS 100 .8250 $19,130.54 $6,080.65Seller comments $1,594.21/mo $506.72/mo160 AcresCrude purchased by CHS McPherson Refinery Inc.29° Oil GravitySee mceeauctino.com/brochure for cash flow and drone footageWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-35 JHSN 1-23-13 3-20-13 .95 0 0 3465 0




8 5/8″ 23# @ 221′

5 1/2″, 15.5# @ 4565′

2 7/8″ @ 4519′

50-7/8″120-3/4″2-7/8 PONY RODS

2 1/2 X 1 1/2 X 14 RWT

SENTRY C-160-200-74

25HP ELECT MTR

2-200BBL WSST1-210BBL FGGB 1-200BBL FGSWT

N/A

Lot #29aLease Name Type Operator Legal DescriptionMAP ORRI Grand Mesa

Operating CompanyNW SW NE NE Sec 35 13S 31W


Lot #29bLease Name Type Operator Legal DescriptionMAP ORRI Grand Mesa

Operating CompanyNW SW NE NE Sec 35 13S 31W


Lot #30Lease Name Type Operator Legal DescriptionNLT Operated Lease Grand Mesa Operating

CompanyN/2 S/2 S/2 Sec 19 15S 22W

County & State GWI NRI Operating Expenses Income (12mo)Trego, KS 100 .8250 $33,492.90 $12,814.56Seller comments $2,791.80/mo $1,067.88/mo640 AcresCrude purchased by CHS McPherson Refinery Inc.37° Oil GravityOperator pays Thomas Ryan $500 annually for use of tank battery.See mceeauction.com/brochure for cash flow and drone infoWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-29 CHRK SD 2-17-04 2-25-04 8.4 0 315 24340 0




8 5/8″ 23# @ 236′

5 1/2″, 14# @ 4403′

2 7/8″ @ 4222′

56-7/8″112-3/4″3-7/8 PONY SUBS

2 1/2 X 2 X 14 RWB

LUFKIN 160-D

25HP ELECT MTR


N/A

Lot #30aLease Name Type Operator Legal DescriptionNLT ORRI Grand Mesa

Operating CompanyN/2 S/2 S/2 Sec 29 15S 22W


Lot #30bLease Name Type Operator Legal DescriptionNLT ORRI Grand Mesa

Operating CompanyN/2 S/2 S/2 Sec 29 15S 22W


Lot #31Lease Name Type Operator Legal DescriptionS & L Operated Lease Grand Mesa Operating

CompanyW/2 SE SE SE Sec 14 13S 31W

County & State GWI NRI Operating Expenses Income (12mo)Gove, KS 100 .80 $25,419.00 $12,529.38Seller comments $2,118.25/mo $1,044.12/mo160 AcresCrude purchased by CHS McPherson Refinery Inc.28° Oil GravitySee mceeauction.com/brochure for cash flow and drone info


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



-14 CHRK 6-20-12 6-01-12 .9 0 .2 6988 0




8 5/8″ 24# @ 212′

5 1/2″, 15.5# @ 4696′

2 7/8″ @ 4655′

60-7/8″123-3/4″4-7/8 PONY RODS

2 1/2 X 1 1/2 X 14 RWT

SENTRY C-160-200-74


N/A

Lot #31aLease Name Type Operator Legal DescriptionS & L ORRI Grand Mesa

Operating CompanyW/2 SE SE SE Sec 14 13S 31W


Lot #31bLease Name Type Operator Legal DescriptionS & L ORRI Grand Mesa

Operating CompanyS/2 SE SE SE Sec 14 13S 31W


Lot #32Lease Name Type Operator Legal DescriptionSC-LR Operated Lease Grand Mesa Operating

CompanyNW SW NW NE Sec 33 16S 33W

County & State GWI NRI Operating Expenses Income (12mo)Scott, KS 100 .8250 $35,762.59 $11,647.48Seller comments $2,980.22/mo $970.62/mo320 AcresCrude purchased by CHS McPherson Refinery Inc.28° Oil GravitySee mceeauction.com/brochure for cash flow and drone info


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-33 MARM 11-14-14 2-21-15 1.4 0 1.7 2256 0




8 5/8″ 23# @ 221′

5 1/2″, 15.5# @ 4833′

2 7/8″ @ 4535′

59-7/8″122-3/4″5-7/8 PONY RODS

1 1/2 X 2 1/2 X 14 RWT

SENTRY C-160-200-74


N/A

Lot #32aLease Name Type Operator Legal DescriptionSC-LR ORRI Grand Mesa

Operating CompanyNW SW NW NE Sec 33 16S 33W


Lot #32bLease Name Type Operator Legal DescriptionSC-LR ORRI Grand Mesa

Operating CompanyNW SW NW NE Sec 33 16S 33W


Lot #33Lease Name Type Operator Legal DescriptionSTOLL Operated Lease Grand Mesa Operating

CompanyNE SE NE SE Sec 32 16S 33W

County & State GWI NRI Operating Expenses Income (12mo)Scott, KS 100 .8250 $13,234.29 $18,159.73Seller comments $1,102.86/mo $1,513.31/mo320 AcresCrude purchased by CHS McPherson Refinery Inc.26° Oil GravitySee mceeauction.com/brochure for cash flow and drone info


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-32 MARM 10-31-14 1-30-15 1.5 0 .2 2713 0




8 5/8″ 23# @ 221′

5 1/2″, 15.5# @ 4648′

2 7/8″ @ 4600′

55-7/8″126-3/4″4-7/8″ PONY RODS

1 1/2 X 2 1/2 X 14 RWT

SENTRY C-160-200-74

25HP Electric


N/A

Lot #33aLease Name Type Operator Legal DescriptionSTOLL ORRI Grand Mesa

Operating CompanyNE SE NE SE Sec 32 16S 33W


Lot #33bLease Name Type Operator Legal DescriptionSTOLL ORRI Grand Mesa

Operating CompanyNE SE NE SE Sec 32 16S 33W


Lot #34Lease Name Type Operator Legal DescriptionHeard ‘N’ Operated Lease Reef Operating, Inc. SW NE SW Sec 17 14S 28WCounty & State GWI NRI Operating Expenses Income (12mo)Gove, KS 100 .82Seller commentsCrude purchased by Coffeyville ResourcesSells with Lot #35Current production is 2.5BOPD.See mceeauction.com/brochure for drone footageWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



Heard ‘N’ 1 10-08-97 10-18-97 3 N/A 23,927.12 N/A

Lot #35Lease Name Type Operator Legal DescriptionSmith Operated Lease Reef Operating, Inc. Sec 18 14S 28WCounty & State GWI NRI Operating Expenses IncomeGove, KS 100 .82Seller commentsCrude purchased by Coffeyville ResourcesSells with Lot #34Current production is 1.5BOPD. Currently shut in although operator is still circulating chemicals.See mceeauction.com/brochure for drone footageWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



Smith ‘ZZ’ 01-05-77 02-01-77 2 N/A N/A

Smith ‘H’ Supply Well

N/A N/A N/A N/A

Smith ‘ZZ’ Disposal

N/A 06-05-07 N/A N/A N/A N/A N/A


Lot #36Lease Name Type Operator Legal DescriptionWorchester Se 1 Operated Lease Reef Operating, Inc. Sec 16 07S 22WCounty & State GWI NRI Operating Expenses IncomeGraham, KS 100 .82Seller commentsCrude purchased by Coffeyville ResourcesSells with the Worchester SWD. This lease has 3D seismic that will go with the lease.See mceeauction.com/brochure for drone footageWell Number Producing

FormationSpud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



Worchester SE 1 Arbuckle 10-07-08 10-27-08 2.5 N/A 45 N/A

Lot #37Lease Name Type Operator Legal DescriptionWernli Operated Lease IGWT, Inc. SW Sec 25 22S 12ECounty & State GWI NRI Operating Expenses IncomeGreenwood, KS .50 .4375Seller comments160 AcresCrude purchased by Coffeyville ResourcesThe 50% working interest comes with operations. Buyer must have a valid Kansas Operators License. This lease is part of the Lamont field that has recovered over 3.5 MMBO. Upside potential would be1) Refrac the Bartlesville as it was perfed over a large interval with minimal fracs (example log attached)2) Add more injection wells.3) Drill a viola test in the north part of the lease.1, 3, 8, 9, 11 and 12 are TA’d wells with no equipment.See mceeauction.com/brochure for approval letters and additional information


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



2, 4, 5, 6, 7 Bartlesville 2.5 97 63,563

#10 Injection well E19905.5

1,3,8,9,11 and 12

Lot #38Lease Name Type Operator Legal DescriptionSwob 1 ORRI Black Stone

Petroleum LLCSW Sec 26 18S 16W

County & State Decimal Interest Acres Income (11mo)Rush, KS .0025 160 $1,992.49Seller comments $181.14/moThere were gas shows during the drilling of the Swob wells. The Swob is in the Otis-Albert Field, which is famous for its helium production. There are 2 additional locations identified by 3D seismic and one of these has an approved drilling intent on file with the KCC. The #2 well is strategically located for fu-ture EOR in the Reagan Sand. H2Oil successfully drilled and completed a horizontal Reagan Sand well a couple of sections over from the Swob Lease.

Oil purchased by Shell and BlackRock Midstream.

Lot #27 is an identical interest in this lease.

Lot #39Lease Name Type Operator Legal DescriptionZelda #1 PWI L. E Jones Operating Sec 9 7S 1WCounty & State Decimal Interest Acres Operating Expenses Income (12mo)Love, OK .11309500 $2,684.75 $7,703.59Seller comments $223.73/mo $641.97/mo

Lot #40Lease Name Type Operator Legal DescriptionDody “1A” and Dody “C” Operated

LeaseWestern Pacific Farms, Inc. C SE NW Sec 36 28S 31W

County & State GWI NRI Operating Expenses Income (12mo)Haskell, KS 100% .82 $2,554.47Seller comments $212.87/mo320 acresCrude purchased by CHS McPhersonSee mceeauction.com/brochure for additional information and drone footageOwner operated lease – Buyer needs to calculate their own overhead and pumper cost.

These units are producing, fully operational, and set up with 20HP electric motors.

Since I have owned these wells, I have not judiciously put these wells on an acid drip treatment. About every five years I would have them hot-oiled and an acid job dropped down hole and then swabbed back, always resulting in nice recovery with an estimated 5 BBLD following the treatment.

I sold only one load last year. However the lease produced 2 more loads since then. I retained them in the common tank battery and have profited in the rise in oil price from $40/BBL to mid $60/BBL. One load was sold last week. The next load will be sold prior to July 1st.

It is believed the Dody C in the NW/4 has behind the pipe potential in the Marmaton at 4770′.

Seller believes all information to be correct to best of his knowledge. Seller in no way warrants or makes representation concerning accuracy of files, data, or viewed information. information shell be at the sole risk of the party making use of or reliance on same.


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



DODY ‘C’ 1 Miss 11-02-90 1 BOPD com-bined with DODY A

N/A 2 BBL/Day combined with DODY ‘A’

16,049 BBL common tank battery

N/A

DODY ‘A’ Miss 01-27-94




DODY #1A .5” 166JTS 2.375”

218 RODS 3/4” PERFS: 5410-5418’

LUFKIN SN 216.U TC44AR

20HP WEG

Common tank battery

DODY C 5.5” 166JTS 2.375”

88 RODS 3/4” 128 RODS5/8”

PERFS: 5411-5415’

American SN T13F54 Size: 80

20HP Team

Common tank battery

Lot #41Lease Name Type Operator Legal DescriptionGresham John Unit ORRI Corey Park Operating, LLC See additional infoCounty & State Decimal Interest Acres Income (4mo)Leon, TX See additional info 576.8 $588.94Seller comments $117.79/moThe assets in this package are located in the Bossier and Woodbine formations within LeonCounty, Texas.There have been 7 permits to drill in Leon County over the past 6 months,including one in the Woodbine formation about a mile north of the assets in this package.Operator Covey Park Energy primarily pursues low risk development opportunities andimproving existing operations through ongoing technological advances.

5 producing wells. 4 horizontal, 1 vertical.

82.20% oil, 17.80% gas, 0.00% NGL

See mceeauction.com/brochure for additional information

Lot #42Lease Name TypeQuincy 225 Screw Compressor EquipmentCounty & StateClark, KSSeller commentsA Quincy 225 screw compressor set up with a 25 HP electric motor, electric control panel, suction scrubber, and discharge scrubber. Designed to move wet gas at low pressure.Quincy ASG225 Std Screw CompressorPurchase new Aug 2000Purchase price new $26,000Located about 1 mile from Minneola, KS

See mceeauction.com/brochure for pictures


Lot #43Lease Name Type Operator Legal DescriptionMadden ‘A’ #1, 2 & 4 SWD

PWI McCoy Petroleum Corp

SE Sec 21 12S 18W

County & State GWI NRI Operating Expenses Income (12mo)Ellis, KS 0.005 0.00125 $974.04 $619.92Seller comments $81.17/mo $51.66/moWashed down old well on lease for saltwater disposal 7/2017Last 4 months expenses averaged $23.10/mo & income averaged $58.30/moLease Name Type Operator Legal DescriptionMassier ‘A’ #1-8 PWI McCoy Petroleum Corp NW Sec 8 12S 19WCounty & State GWI NRI Operating Expenses Income (12mo)Ellis, KS 0.0073125 0.0060328 $132.36 $189.54Seller comments $11.03/mo $15.80/mo

Lease Name Type Operator Legal DescriptionKST ‘A’ #1-3 PWI McCoy Petroleum Corp NS Sec 3 7S 19WCounty & State GWI NRI Operating Expenses Income (12mo)Rooks, KS 0.01354 0.01110152 $322.32 $330.00Seller comments $26.86/mo $27.50/mo

Repaired lead line, replace polish rod liner & repair pump. 2/2017. Normal exp average $292.54/yr

Lot #44Lease Name Type Operator Legal DescriptionSims PWI Big O LLC Sec 24 20S 16WCounty & State GWI NRI Operating Expenses IncomePawnee, KS .4999 .437325 $25,891.89 $9,848.37Seller comments $2,353.81/mo $895.31/moCash flow from 4/2017 thru 3/2018

1.50BOPD



Lot #45Lease Name Type Operator Legal DescriptionDenker J PWI Big O LLC Sec 10 22S 12WCounty & State GWI NRI Operating Expenses Income (11mo)Stafford, KS .625 .546875 $64,407.05 $50,626.20Seller comments $5,855.19/mo $4,602.38/moCash flow from 4/2017 thru 3/2018

1.50BOPD


Lot #46Lease Name Type Operator Legal DescriptionGerhardt Trust ORRI Coral Production Corp N/S SW SW NW Sec 25 21S 14WCounty & State Decimal Interest Acres Income (2017)Stafford, KS .005 $378.86Seller commentsLast 4 months income: $219.82 2014 - 1878 2015 - 1899 2016 - 1883 2017 - 1809 2018 - 299 thru Feb.

Lot #47Lease Name Type Operator Legal DescriptionBoese I #1 ORRI Pickrell Drilling Company Inc SE Sec 19 18S 21WCounty & State Decimal Interest Acres Income (3mo)Ness, KS .0133334

Seller comments $64.10/moOil Sales 2014 – 479 BBL2015 – 318 BBL2016 – 645 BBLThrough 6-17 -480 BBLApril – June Income (3 Months) $192.32


Lot #48Lease Name Type Operator Legal DescriptionL. Harrison Operated

LeaseThomas Garner Inc. E/2 SE Sec 26 25S 13W

County & State GWI NRI Operating Expenses IncomeStafford, KS 100% .80Seller comments30 gravity10hp iron horse VFD drive


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



#1 L. Harrison Simpson 6-1980 9-1980 .51 6.00 32,856




368′ 8 5/8″ 4302′ 4 1/2″

133 joints 2 3/8″

167 3/4″ 2″ x 1 1/2′ x 12 RWT

American 80

10HP Electric

1- 10×15 steel stock1- 10×15 fg water tank

10×15 fg gunbarrel


Lot #49Lease Name Type Operator Legal DescriptionLippelmann Operated

LeaseMurfin Drilling Company, Inc.

N/2 Sec 16 3S 26W

County & State GWI NRI Operating Expenses IncomeDecatur, KS .09375 .075Seller comments320 Acres3-16 Inj has Elder Loc-Set packer @ 3412′Passed MIT on 5-15-18Transfer pump: Gould 1 1/4 x 1 1/2 x 5, motor: Dayton 2 hp, 4′ x 8′ wooden shed over pump.Tubing job on Lippelmann 1-16 completed in March Lippelmann 4-16 returned to production 2-26-18

Seismic data not included.


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-16 Oread, Tor, LKC A, B, D, H, J, K

8-19-82 8-26-82 1.9 401 Lease: 393,238

3-16 Inj Tor, LKC A, B, D, H, J

8-7-83 8-31-83

4-16 Tor, LKC A, B, D, H, J, K

9-7-84 11-7-84 1.5 160




8 5/8″ @ 218′ 5 1/2″ @ 3868′

2 7/8″ @ 3656′

39 x 3/4″; 105x 7/8″

2 1/2 x 2 x 18′

Emsco 228-246-86

40 hp 3- 12×10 ST (1 is junk), 1- 12×10 FG SWT

10′ x 15′ FG GB

8 5/8″ @ 215′ 4 1/2″ @ 3719′

2 3/8″ Duoline @ 3412′

8 5/8″ @ 260′ 4 1/2″ @ 3875′

2 3/8″ @ 3692′

146 x 3/4″ 2 x 1 1/2 x 12′

National 114

25 hp


Lot #50Lease Name Type Operator Legal DescriptionRitter ‘A’ #1-32 PWI Great Plains Energy NW Sec 32 3S 26WCounty & State GWI NRI Operating Expenses Income (12mo)Decatur, KS 0.01325 0.0106 $381.24 $832.32Seller comments $31.77/mo $69.36/mo

Lease Name Type Operator Legal DescriptionEvelyn ‘A’ #1-27 PWI Great Plains Energy SW Sec 27 3S 26WCounty & State GWI NRI Operating Expenses Income (12mo)Decatur, KS 0.01325 0.0106 $5,333.64 $1,538.28Seller comments $444.47/mo $128.19/moWell drilled 6/2017

POP mid 8/2017

Last 6 months, expenses averaged $20.28/mo & income averaged $120.59/mo

Lot #51Lease Name Type Operator Legal DescriptionShirley Operated

LeaseMurfin Drilling Company, Inc.

See Comments

County & State GWI NRI Operating Expenses IncomeDecatur, KS 0.8541667 0.6958334Seller commentsLegal Description is as follows: W2SW and W2SE of Section 9-3S-26W down to 3679′ on Shirley 1-9160 acresKerr KJ 2250 Injection pump, 10 hp 1133 RPM motor, 10′ x 14′ wooden shed over pump.Water is pumped to the Lippelmann lease.

Lease Description: Insofar and only insofar as said lease covers the W2SW & W2SE Section 9-3S-26W, Decatur County, KS, from the surface of the earth down to the stratigraphic equivalent of the subsur-face depth of 3679′ as encountered in the Murfin Drilling Company Shirley #1-9 well located 330′ FSL & 990′ FWL or to the base of the Kansas City formation, whichever is lesser depth.Shirley 1-9 run once a week every other monthSeismic data not included.


Spud Date

Completion Date

Gross BOPD

Gross MCFD

Gross BBL H20/Day



1-9 Tor, LKC A, B, D, H, J, K

11-20-83 12-14-83 1.25 97 135,418




8 5/8″ @ 308′ 4 1/2″ @ 3715′

2 3/8″ @ 3637′

143 x 3/4″ 2 x 1 1/2 x 12′

National 160-173-74

25 hp 3- 12 x 10 ST (1 is junk) 1- 12×10 FG SWT

10′ x 15′ FG GB

Lot #52Lease Name Type Operator Legal DescriptionCaroline #1 PWI Charles N. Griffin N/2 SW SW Sec 15 32S 12WCounty & State GWI NRI Operating Expenses Income (12mo)Barber, KS .01 .080 $374.98 $641.77Seller comments $31.25/mo $53.48/moOil Purchased by Griffin Management


Lot #53Lease Name Type Operator Legal DescriptionWessler Operated Lease Western Pacific

FarmsSec 3 32S 32W

County & State GWI NRI Operating Expenses Income (12mo)Seward, KS 100% .7718917 $408.56 $9,799.60Seller comments $34.05/mo $816.63/moOwner operated lease – Buyer needs to calculate their own overhead and pumper cost.25MCFDSee mceeauction.com/brochure for additional info and drone footageLease Name Type Operator Legal DescriptionCollingwood Operated Lease Western Pacific Farms Sec 18 32S 32WCounty & State GWI NRI Operating Expenses Income (12mo)Seward, KS 100% .7718917 $457.58 $13,322.18Seller comments $38.13/mo $1,110.18/moOwner operated lease – Buyer needs to calculate their own overhead and pumper cost.See mceeauction.com/brochure for additional info and drone footageLease Name Type Operator Legal DescriptionLambert Operated Lease Western pacific Farms Sec 20 32S 32WCounty & State GWI NRI Operating Expenses Income (12mo)Seward, KS 100% .7718917 $1,135.96 $8,289.77Seller comments $94.66/mo $690.81/moOwner operated lease – Buyer needs to calculate their own overhead and pumper cost.See mceeauction.com/brochure for additional info and drone footageLease Name Type Operator Legal DescriptionWettstein Operated Lease Western Pacific Farms Sec 20 32S 32WCounty & State GWI NRI Operating Expenses Income (12mo)Seward, KS 100% .7718917 $4,857.71 $9,478.99Seller comments $404.81/mo $789.92/moInfield well on Lambert lease.Owner operated lease – Buyer needs to calculate their own overhead and pumper cost.See mceeauction.com/brochure for additional info and drone footage

Lot Summary (4 wells):Income (12mo): $40,890.54Expense (12mo): $6,859.81


Lot #54Lease Name Type Operator Legal Description3D Family-Hanna ORRI Palomino Petroleum Inc. SE Sec 10 14S 31W &

NE Sec 15 14S 31WCounty & State Decimal Interest Acres Income (3mo)Gove, KS .0025234 12.25 $69.40Seller comments $23.13/mo2.87 BOPD

Lease sold 232.01 bbl from April-June 2017April-June income (3 months) $69.40

Lot #55Lease Name Type Operator Legal DescriptionGoering J 1 ORRI Olympic Oil Inc. NE Sec 27 20S 03W excluding north 40 acresCounty & State Decimal Interest Acres IncomeMcPherson, KS .012539 120Seller commentsOil Sales 2013 – 528 BBL2014 – 635 BBL2015 – 359 BBL2016 – 512 BBL2017 – 106 BBL through March 31


Lot #56Lease Name Type Operator Legal DescriptionGoley/Beachner Operated Lease Legend Energy LLC SE Sec 17 28S 22ECounty & State GWI NRI Operating Expenses Income (12mo)Crawford, KS 100% .825Seller commentsSee mceeauction.com/brochure for well infoLease Name Type Operator Legal DescriptionHobson Operated Lease Legend Energy LLC NW Sec 32 30S 22ECounty & State GWI NRI Operating Expenses IncomeCrawford, KS 100% .82Seller commentsSee mceeauction.com/brochure for well infoInjection well I-1 through I-5 were drill and completed in late 2015. Only small amount of water ever injected because prices were low. If injection is started up again and kept up, engineer G. Bob Bar-nett, estimated this lease should make 7-12 BOPD. Lease has only produced enough to keep active since 2015.All injection wells and #19 WSW have open hole and cased hole logs. Cased hole logs on a few other wells were done in 2010’s. All injection lines are high pressure poly and stainless steel. Pump house is insulated and full electric service with VFD for injection pump. This injection system was done right, but never used to it’s full capacity.Some wells need pump changes, but were all washed out in 2015. Electric is Westar Electric and runs around $175 per month with all wells pumping.

Health issues have forced me to sell these leases and shut down operations.Lease Name Type Operator Legal DescriptionBarnes Operated Lease Legend Energy LLC NE NE Sec 21 31S 21ECounty & State GWI NRI Operating Expenses IncomeLabette, KS 100% .875Seller commentsCurrently only producing the #6 well. Produces no water, electric average is $35.00 per month Westar Energy. Lease will make .5 bbl per day if #3 and #5 are running. Injection system in place but not used. Gas well is shut in as there is no gas line close. Was using gas to inject in #1 as permitted by KCC.Produced just enough to hold lease while price was down. Have had health issues and need to sell as health won’t allow me to work leases like they should be.

Sells with Hobson, Goley/Beachner and Guy leases as a package.


Lot #57Lease Name Type Operator Legal DescriptionStull ORRI Siroky Oil Management NE Sec 21 27S 12WCounty & State Decimal Interest Acres Income (5mo)Pratt, KS .015 12.25 $1,760.86Seller comments $352.17/moApril revenue - $436.77

Lot #58Lease Name Type Operator Legal DescriptionSpangenberg 35-3 ORRI Coral Production Co. NW Sec 35 21S 14WCounty & State Decimal Interest Acres Income (12mo)Stafford, KS .005 153.68 $249.79Seller comments $20.82/mo2014 – 3082 BBL2015 – 4045 BBL2016 – 1923 BBL2017 – 1264 BBL

Lot #59Lease Name Type Operator Legal DescriptionSKYY #2-33HC PWI Apache Corp SE Sec 33 13N 24WCounty & State Decimal Interest Acres Operating Expenses Income (12mo)Roger Mills, OK 0.00097656 $61.51 $96.36Seller comments $3.13/mo $8.03/moWellbore only.

Lot #59aLease Name Type Operator Legal DescriptionCalvert #1-23 PWI Apache Corp Sec 23 13N 22WCounty & State Decimal Interest Acres Operating Expenses Income (12mo)Roger Mills, OK 0.02812500

Seller commentsWellbore only.


LOT REMOVED

Lot #60Lease Name Type Operator Legal DescriptionDan State 1-31 PWI Zenergy, Inc. Sec 31 7N 1ECounty & State Decimal Interest Acres Operating Expenses Income (8mo)Cleveland, OK 0.0623000 $938.61 $2,425.56Seller comments $117.33/mo $303.20/moWellbore only.

Lot #61Lease Name Type Operator Legal DescriptionRatzlaff #3-8 PWI Raydon Exploration Sec 8 3N 21ECounty & State Decimal Interest Acres Operating Expenses Income (8mo)Beaver, OK 0.06377551 $1,536.52 $1,716.19Seller comments $128.04/mo $143.02/mo

Lot #62Lease Name Type Operator Legal DescriptionLevigne Unit RI Ballard Exploration

Company, Inc.See Additional Info

County & State Decimal Interest Acres Operating Expenses Income (3mo)Liberty, TX 0.00035014 20 $511.35Seller comments $170.45/mo1 vertical well27.00% oil, 73.00% gasSee mceeauction.com/brochure for additional information

Lot #63Lease Name Type Operator Legal DescriptionJendrusch Unit RI Encana Oil & Gas Inc. See Additional InfoCounty & State Decimal Interest Acres Operating Expenses Income (3mo)Karnes, TX See additional info 100 $302.43Seller comments $100.81/mo9 horizontal wells83.85% oil, 6.01% gas, 10.13% NGLCash flow represents 3.75% of check statementsSee mceeauction.com/brochure for additional information


Lot #64Lease Name Type Operator Legal DescriptionJanne Lease Operated

LeaseH&D Exploration, LLC SE Sec 27 15S 12W

County & State GWI NRI Operating Expenses Income (12mo)Russell, KS 100% .765250 $17,886.09 $20,586.74Seller comments $1,490.71/mo $1,715.56/moInitially, the lease produced 36 bbls oil between 2/7 and 2/19/13 (approx. 3 bbls/day). This has de-creased since our acquisition in 2013 to about 1 bbl/day now.

Annual oil production:2017- 486 bbls 2016- 656 bbls2015- 653 bbls2014- 972 bbls2013- 766 bbls2012- 961 bbls2011- 804 bbls2010 – 1125 bbls2009 – 1118 bbls2008 – 798 bbls2007 – 1156 bbls2006 – 1165 bbls 2005 – 1174 bbls

Oil purchased by CHS McPherson

Janne #1 recent work:11/09/12 – replaced 6 joints of tubing ($2159.41)

Janne #3 recent work:a. 1/13/12 – chemical treatment ($110.79)b. 10/12/12 – installed pressure switch and controls ($1302.60)c. 3/11/12 – replaced 7 rods and boxes ($2504.43)

Janne #3 is currently shut in because it produces more water than the injection well can take. When it’s online, it produces 1.2 bbls/day (oil) and 139 bbls/day (water).

Anna Janne #2 recent work:a. 11/4/12 – cleaned out blocked hole ($4055.94)b. 4/88 – converted well from production to injection ($10,456.39)

See mceeauction.com/brochure for additional well information

Lot #65Lease Name Type Operator Legal DescriptionJ Paul Magnison 23 PWI LB Exploration N/2 N/2 SE Sec 23 33S 13WCounty & State GWI NRI Operating Expenses Income (12mo)Barber, KS .10 .080 $5,052.96 $5,006.83Seller comments

Lease Name Type Operator Legal DescriptionJ Paul Magnison 11 PWI LB Exploration N/2 S/2 SW NE Sec 11 33S 13WCounty & State GWI NRI Operating Expenses Income (12mo)Barber, KS .10 .080 $1,156.65 $6,050.46Seller comments

Lease Name Type Operator Legal DescriptionLarkin 14-1 PWI LB Exploration SE Sec 14 32S 15WCounty & State GWI NRI Operating Expenses IncomeBarber, KS .10 .080 $2,259.39 $0Seller comments

Lease Name Type Operator Legal DescriptionLarkin 14-2 PWI LB Exploration NWSE Sec 14 32S 15WCounty & State GWI NRI Operating Expenses IncomeBarber, KS .10 .080 $0Seller comments

Lot #66Lease Name Type Operator Legal DescriptionBlatner Unit #1 ORRI Palomino Petroleum, Inc. SE Sec 30 21S 24WCounty & State Decimal Interest Acres Operating Expenses Income (7mo)Ness, KS .0060764 320 None $1,042.96Seller comments $148.99/moSteady, Mississippian oil production on a low decline rate. wells within the area typically produce be-tween 40,000 and 80,000+ BBLs. Significant acreage associated with the ORRI with multiple future locations.*Note the well made 330 BBLs in Arpil.Go to mceeauction.com/brochure for information packet and financial statements

Lot #67Lease Name Type Operator Legal DescriptionGwen #1 ORRI Brehm Asset Management SE Sec 22 20S 21WCounty & State Decimal Interest Acres Operating Expenses Income (3mo)Ness, KS .00277780 160 None $70.10Seller comments $23.37/moMississippian Osage Production, will be low decline.Go to mceeauction.com/brochure for information packet and financial statements

Lot #68Lease Name Type Legal DescriptionJean Gerber Minerals Non-Producing

MineralsSee Seller Comments

County & State Decimal Interest Acres Operating Expenses IncomeBarber, KS 1/6 of 1,880 acres 313.333 NMASeller commentsLots 3 & 4 the S/2 NW/4 section 4-31s-11w Barber Co, KS – 160 acres molLots 1 and 2 the S/2 NE/4 the SE/4 the E/2 SW/4 section 5-31s-11w Barber Co, KS – 400 acres molW/2 NE/4 the NW/4 the S/2 section 8-31s-11w Barber Co, KS – 560 acres molSW/4 NW/4 the W/2 SW/4 Section 9-31s-11w Barber Co, KS – 120 acres molN/2 section 16-31s-11w Barber Co, KS 320 acres molN/2 section 17-31s-11w Barber Co, KS – 320 acres mol

See mceeauction.com/brochure for deed description

Lot #69Lease Name Type Operator Legal DescriptionTerese #1H ORRI Griffin Management, LLC E/2 Sec 8 33S 12W &

E/2 Sec 5 33S 12WCounty & State Decimal Interest Acres Operating Expenses Income (3mo)Barber, KS .005 640 $2,610.19Seller comments $870.06/moCurrent Production 79 bopd & 87 mcfpd. Offset development potential.

Lot #70Lease Name Type Operator Legal DescriptionWells 1-9 ORRI Grand Mesa Operating

CompanySec 9 18S 24W

County & State Decimal Interest Acres Operating Expenses Income (12mo)Ness, KS .005 $190.00Seller comments $15.83/mo

Lot #71Lease Name Type Operator Legal DescriptionSimpson 1-4 ORRI Grand Mesa Operating



Lot #72Lease Name Type Operator Legal DescriptionSargent 1-20 ORRI Grand Mesa Operating



Lot #73Lease Name Type Operator Legal DescriptionRothe 1-18 ORRI Grand Mesa Operating



Lot #74Lease Name Type Operator Legal DescriptionBreit-Hoss 1-22 ORRI Grand Mesa Operating




Lot #75Lease Name Type Operator Legal DescriptionHoss 1-27 ORRI Grand Mesa Operating



Lot #76Lease Name Type Operator Legal DescriptionHarris 1-2 ORRI Grand Mesa Operating


County & State Decimal Interest Acres Operating Expenses Income (12mo)Ness, KS .005 $511.00Seller comments $42.58


Lot #77Lease Name Type Operator Legal DescriptionPonce Lease Minerals

RI Kraft Oil and Gas LLC N/2 Sec 28 21S 07W

County & State Decimal Interest Acres Operating Expenses Income (6mo)Rice, KS .00163570 320 (4.17 NMA) $38.49Seller comments $6.42/moLease sold 288 bbl 2013 341 bbl 2014 440 bbl 2015 632 bbl 2016 113 bbl 2017

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Buyers Agreement to Purchase Properties In consideration of the mutual promises contained herein and other valuable consideration, thereceipt and sufficiency of which are hereby acknowledged, Buyer and Mid-Continent Energy Exchange,LLC agree as follows: Buyer agrees that any information provided by Mid-Continent Energy Exchange, LLC is basedupon representations made by the seller of oil and gas properties and that Mid-Continent EnergyExchange, LLC cannot guarantee the completeness, timeliness or accuracy of the information providedby the Seller. No information provided by Mid-Continent Energy Exchange, LLC or contained on itswebsite or any other communication constitutes investment advice. Any decisions based upon theinformation provided by Mid-Continent Energy Exchange, LLC shall be considered with this in mind andthe Buyer has the sole responsibility to do its own due diligence.

PURCHASE OF PROPERTIES: At auction, by sealed bid, or by other purchase or designated salemethod, a Seller may offer properties for sale with or without a minimum reserve sales price. Buyer canmake bids or offers on the property for sale. The Buyer with the highest bid or offer at the ending time andwhose bid or offer meets the minimum sales price (if any) or the Buyer whose bid or offer is accepted bySeller, will be obligated to purchase the property for that price. Buyer agrees to participate as a bidder inthe sale process for the sale of oil and gas properties and any negotiations following the sale process.BUYERS REPRESENTATIONS, AGREEMENTS, WARRANTIES AND ASSURANCES: Buyer agreesthat properties for sale through Mid-Continent Energy Exchange, LLC are not intended or considered tobe securities under the Securities Act of 1933, the Securities Exchange Act of 1934 and all applicablestate securities laws. Buyer hereby acknowledges and agrees that any sale of oil and gas royaltiesthrough Mid-Continent Energy Exchange, LLC is the process of putting a willing Seller in contact with awilling Buyer to facilitate the purchase of oil and gas properties. Buyer represents that he is asophisticated, accredited and qualified investor. Buyer represents, by executing this agreement, that aBuyer is (a) primarily engaged in the business of exploring for or producing oil or gas or other minerals asan ongoing business; (b) by reason of this knowledge or experience, the Buyer will evaluate the merits and risks of the properties to be purchased through Mid-Continent Energy Exchange, LLC and will forman opinion based upon Buyer’s knowledge and experience and not upon any statement, representation orprinted material provided by Mid-Continent Energy Exchange, LLC or its representative; (c) the Buyer isof legal age, has sufficient financial resources in order to bear the risk of loss attached to the purchase ofany property that Buyer bids upon; (d) Buyer has an annual income of $200,000.00 for any natural personin each of the two most recent years or joint income with the persons spouse of not less than $300,000.00in each of those years and has a reasonable expectation of reaching the same income level in the currentyear or Buyer has a net worth or a joint net worth with that persons spouse, at the time of his purchaseexceeding $1,000,000.00 or Buyer is a business entity with total assets in excess of $5,000,000.00, asshown by the business’s most recent prepared financial statements and has sufficient knowledge andexperience in business and financial matters to evaluate the merits and risks of the acquisition of oil andgas property. Buyer has a continuing duty to notify Mid-Continent Energy Exchange, LLC if Buyersubsequently fails to qualify as a sophisticated, qualified and accredited investor. Buyer agrees toindemnify and hold Mid-Continent Energy Exchange, LLC harmless from any and all violations ofapplicable securities laws that result from any misrepresentation of the Buyer being a sophisticated,qualified and accredited investor.

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BUYER’S DUE DILEGENCE AND INDEPENDENT EVALUATION: Buyer hereby acknowledges andagrees that it has the sole responsibility to examine all information concerning ownership and productionof the properties placed for sale through Mid-Continent Energy Exchange, LLC. Further, Buyeracknowledges and agrees that if it requires additional information concerning said properties, Buyer mustcontact Mid-Continent Energy Exchange, LLC or the Seller to obtain requested information prior to thebeginning date of the sale process. If Buyer makes a bid or offer on any property after making a requestfor additional information, Buyer waives the performance of that request. Buyer further agrees that it willmake an independent evaluation of the property and acknowledges that the Seller and Mid-ContinentEnergy Exchange, LLC have made no statements or representations concerning the present or futurevalue or the future income, costs or profits, if any, to be derived from the property. Buyer acknowledges inthat making a bid or offer in the sale process that Buyer has relied solely on its independent examinationof the premises and public records and that Buyer’s bids and offers are based solely on Buyer’sindependent inspections, estimates, computations, evaluations, reports, studies and knowledge of theproperties. Any and all information provided by Seller or Mid-Continent Energy Exchange, LLC in theproperty information sheet or data packages, as well as any other information provided by Seller or MidContinentEnergy Exchange, LLC, are furnished to Buyer at Buyer’s sole risk. Seller and Mid-ContinentEnergy Exchange, LLC do not warrant or represent as to the accuracy or completeness of the datapresented to the Buyer, and the Buyer agrees to indemnify and hold Mid-Continent Energy Exchange,LLC and Seller harmless from any reliance by Buyer on data provided by the Seller and/or Mid-ContinentEnergy Exchange, LLC.CONTRACT COMPLIANCE: Buyer hereby agrees to comply with all applicable joint operatingagreements, unitization agreements, communication agreements and other agreements that pertain tothe ownership of the subject properties. Buyer is fully responsible to obtain waivers of uniformmaintenance under joint operating agreements, if needed, and agrees to indemnify and hold MidContinentEnergy Exchange, LLC, and Seller harmless, if the same are not obtained by Buyer, or waivedby a third party.LESSER INTEREST: If Buyer discovers that the properties conveyed by Seller are of lesser interest thanwhat is represented on the property information sheet and associated data, or any modifications orchanges thereto, Buyer shall send notification to Seller within 60 days from the date of sale whichdescribes the difference in interest accompanied by adequate proof of said lesser interest. Buyer agreesthat within 30 days following the receipt of the notification, Seller will at Seller’s option and by writtennotice to Buyer, (a) refund a pro-rata share of the purchase price based on the amount of the interest losscompared to the total price paid for the full represented interest; or (b) Cure the defect that is attributableto the lesser interest; or (c) rescind the sale and Buyer shall reassign the same back to Seller free from any and all encumbrances of Buyer and Seller will refund the amount paid by Buyer upon execution anddelivery of the assignment from Buyer to Seller.

Mid-Continent Energy Exchange, LLC shall be entitled to retain commission paid or payable by Seller andin all events, the Buyer’s sole remedy is against Seller.GAS IMBALANCES: Buyer acknowledges and agrees that properties on which it may bid or make offersmay be subject to gas imbalances pursuant to gas balancing agreements between working interestparties or in the absence of agreements between the working interest parties and the unit. All propertiesshall be sold without warranty on an “as is, where is” basis. No adjustment in the purchase price shall bemade as a result of an inaccuracy in the estimated gas imbalance amount disclosed by Seller. Seller shallprovide information it believes accurate to the status of gas imbalances for the offered properties, butneither Seller nor Mid-Continent Energy Exchange, LLC makes any representations or warranties as tothe accuracy of said information.



ENVIRONMENTAL LIABILITIES: Buyer hereby acknowledges and agrees that after the date of thisassignment it is responsible for any and all losses attributable to any and all environmental events orimpacts, including without limitation, damage to property, injury or death of persons or things, naturalresource damage, environmental remediation and restoration, costs, fines, or penalties arising out of orattributable to the ownership, condition or operation of the properties purchased by Buyer.ROYALTY, OVERRIDING ROYALTY, WORKING INTEREST, CONTRACTUAL LIABILITIES ANDOPERATION LIABILITIES: Buyer agrees and acknowledges that any and all liabilities relating toobligations to pay royalties, contractual obligations under oil and gas leases, joint operating agreementsand liabilities associated with the ownership, condition and operation of the subject properties become theBuyers liability from the effective date of assignment. Seller shall be liable for its period of ownership priorto the effective date of assignment of the property.NO WARRANTIES (EXPRESS OR IMPLIED): Buyer acknowledges and agrees that it is acquiring theproperties, wells, equipment and other property located thereon from Seller without warranty whatsoever,express, statutory or implied as to the description, title, condition, quality, fitness for purpose,merchantability, or otherwise. Buyer acknowledges and agrees that neither the Seller nor Mid-ContinentEnergy Exchange, LLC, makes any representation or warranty whatsoever as to the physical condition ofthe property nor any statements or representation concerning the present or future value of theanticipated income, cost, or profits, if any, to be derived from the property. Buyer acknowledges andagrees that all property is sold on an “as is, where is” basis.TITLE: Buyer hereby acknowledges and agrees that it has the sole responsibility to examine allinformation concerning title to the property and to conduct its own independent evaluation to ascertain titleto the properties and satisfy itself that the title is marketable, defensible or acceptable. Buyeracknowledges and agrees that it will indemnify and hold Seller and Mid-Continent Energy Exchange, LLCharmless as to the accuracy of any documents of title to the properties. Buyer further acknowledges andagrees that neither Seller nor Mid-Continent Energy Exchange, LLC warrants title, either express orimplied, and that all title to property is on an “as is” basis.CLOSING: Buyer acknowledges and agrees that upon notification from Mid-Continent Energy Exchange,LLC, at Buyer’s successful bid or offer on Seller’s property, Buyer shall tender the total amount of fundsrequired to purchase the property to the designated escrow bank as determined by Mid-Continent EnergyExchange, LLC by either wire transfer, next day delivery or overnight mail, by certified check orpreapproved check from Mid-Continent Energy Exchange, LLC, or hand courier delivery service to thedesignated closing office, all within 48 hours of notification. Buyer agrees that all funds will be held inescrow until Seller provides all executed documents of conveyance to Buyer.

BUYERS DEFAULT: Buyer acknowledges and agrees that if it defaults for any reason, Mid-ContinentEnergy Exchange, LLC and Seller shall have all remedies available to them by Kansas law, includingspecific performance declaring the sale void and reselling the property, seeking damages from Buyer,including all costs and reasonable attorneys’ fees resulting from Buyers breach.LAW GOVERNING AGREEMENT: Buyer acknowledges and agrees that this agreement shall begoverned and interpreted in accordance with the laws of the state of Kansas and that proper venue forany disputes arising out of this agreement shall be Sedgwick County, Kansas.NOTICES: Buyer acknowledges and agrees that any notice provided or permitted to be given under thisagreement shall be in writing and mailed to the Buyer at the address appearing above, or to MidContinentEnergy Exchange, LLC at the address appearing above.



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