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WOODS OK - MISSISSIPPIAN Producing Royalties

6 Producing Royalty Interest Wells

Located in WOODS (OK)

2601 Network Boulevard ~ Suite 404 ~ Frisco, Texas 75034

Phone: (866) 454-6107 | Fax: (214) 975-2526 | Email: [email protected]

WWW.OAKTREEMINERALS.COM


Property Summary

The assets in this package are located in the Mississippian, within Woods County,Oklahoma.The past six months have seen a surge in activity in Woods County compared torecent years, with 22 new permits to drill filed. Operator Sandridge E&P has been a key driverof this growth, filing 3 of these permits overall. There is currently one rig active in northwesternWoods County, with 2 other rigs active just over the border in Alfalfa County.

• 6 Producing Wells

• 6 Horizontal

• Royalty Interest

Package Details

• WOODS (OK)

• Formation(s)

• 51.11% - Oil

• $23.05 Per Month

• Cash Flow Represents 100.00% of Check Statements

• 0 Vertical

Location

• MISSISSIPPIAN

Production Breakdown

• 25.60% - Gas

• 23.29% - NGL

Cash Flow

• SANDRIDGE EXPLORATION AND PRODUCTION, LLC

Operator(s)

Package Contents


Check Revenue Statement

Check Statements

Maps

Production Graph

Source Assignments

Operator Apr-2018 May-2018 Jun-2018 Jul-2018 Aug-2018 Sep-2018



Average

Production Months

SANDRIGE E&P LLC $13.53 $33.87 $31.33 $17.09 $18.33 $24.17 $23.05

* Cash flow reflects the sale of 100.00% of the assets shown on the check statements paid by

SANDRIGE E&P LLC in this package.

$13.53 $33.87 $31.33 $17.09 $18.33 $24.17 $23.05Package Totals:

* Note: Blank boxes indicate no revenue data available for that month

Check Statements


123 Robert S Kerr, Oklahoma City, OK 73102

Revenue Account

Please See Last Page For

Royalty Relations Contact Information

Page 1 of 3SANDRIDGE E&P, LLC

PAYEE NAME

ROBERT K BARNES

PAYEE NO CHECK DATE CHECK NO AMOUNT

******56.55144155 11/20/2018 1172370

WELL# WELL NAME STATE COUNTYSALE TYP ---------------------- GROSS ---------------------- --------------------------- OWNER -------------------------------DATE PC INT PRICE QUANTITY VALUE DEDUCTIONS NET INTEREST PAID INT VALUE DEDUCTIONS NET SHARE-------------------------------------------------------------------------------------------------------------------------------------------

126408 HUDSON 2820 1-23H OK WOODS07/18 G RI 1.98 534.21 1057.43 100.75 GTH 887.87 0.00007324 0.00007324 0.08 0.01 GTH 0.07 MMBTU QTY: 1.004 BTU FACTOR: 536.44 SEV66.85 0.00007324 0.00 SEV

EXT0.91 0.00007324 0.00 EXTOER0.96 0.00007324 0.00 OERMRG0.09 0.00007324 0.00 MRG

07/18 P RI 20.46 31.18 637.95 60.78 GTH 535.66 0.00007324 0.00007324 0.05 0.00 GTH 0.05 SEV40.38 0.00007324 0.00 SEVEXT0.55 0.00007324 0.00 EXTOER0.58 0.00007324 0.00 OER

08/18 O RI 68.39 166.10 11359.08 795.14 SEV 10541.21 0.00007324 0.00007324 0.83 0.06 SEV 0.77 OER11.36 0.00007324 0.00 OEREXT10.79 0.00007324 0.00 EXTMRG0.58 0.00007324 0.00 MRG

08/18 G RI 2.11 528.07 1112.67 106.86 GTH 933.47 0.00007324 0.00007324 0.08 0.01 GTH 0.06 MMBTU QTY: 1.023 BTU FACTOR: 540.34 SEV70.29 0.00007324 0.01 SEV






1.20 Total 1.10

126467 HUDSON 2820 2-23H OK WOODS07/18 O RI 69.71 162.55 11331.69 793.22 SEV 10515.80 0.00007324 0.00007324 0.83 0.06 SEV 0.77

OER11.33 0.00007324 0.00 OEREXT10.77 0.00007324 0.00 EXTMRG0.57 0.00007324 0.00 MRG



07/18 P RI 19.60 108.07 2118.48 206.46 GTH 1774.51 0.00007324 0.00007324 0.16 0.02 GTH 0.13 SEV133.78 0.00007324 0.01 SEV

SANDRIDGE E&P, LLC123 Robert S Kerr, Oklahoma City, OK 73102

Revenue Account

TO

THE

ORDER

OF

DATE 11/20/18

$******56.55

1172370

FIFTY-SIX DOLLARS AND 55 CENTS

FRISCO, TX 75034

4472 DONEGAL DR

ROBERT K BARNES


Revenue Account




PAYEE NO.OWNER NAME:

DATECHECK NO.

144155ROBERT K BARNES

11/20/181172370


EXT1.82 0.00007324 0.00 EXTOER1.91 0.00007324 0.00 OER








2.92 Total 2.58













2.68 Total 2.41

126479 KENO CREEK 2820 1-26H OK WOODS07/18 G RI 1.98 1894.51 3751.17 363.02 GTH 3144.19 0.00080568 0.00080568 3.02 0.29 GTH 2.54 MMBTU QTY: 1.004 BTU FACTOR: 1902.99 SEV237.05 0.00080568 0.19 SEV










23.28 Total 20.38



07/18 P RI 21.04 35.71 751.36 72.28 GTH 630.18 0.00080568 0.00080568 0.61 0.06 GTH 0.51


Revenue Account





DATECHECK NO.


11/20/181172370


SEV47.57 0.00080568 0.04 SEVEXT0.65 0.00080568 0.00 EXTOER0.68 0.00080568 0.00 OER








14.01 Total 12.56

127190 KENO CREEK 2820 3-26H OK WOODS07/18 O RI 69.71 155.47 10838.12 758.65 SEV 10057.79 0.00080568 0.00080568 8.73 0.61 SEV 8.10












22.90 Total 20.83

SB1048 OK STATE WITHHOLDING WELL OK ALL10/18 S RI 0.00 0.00 3.31 SWH 3.31- 1.00000000 1.00000000 0.00 3.31 SWH 3.31-

0.00 Total 3.31-

CURRENT CHECKYEAR TO DATE

OWNER GROSSOWNER NETDEDUCTIONS

OWNER NETTOTALS

------------ ------------ -----------

------------PRODUCTS/DEDUCTIONS------------

66.99 10.44 56.55 315.84 47.28 268.56

G - GAS / P - PLANT PRODUCTS / O - OIL / S - STATE WITHHOLDING / GTH - GATHERING / SEV - SEVERANCE TAX / OER - OKLAHOMA ENERGY RESOURCES FEE / EXT - EXCISE TAX / SWH - STATE WITHHOLDING /

TOTAL CHECK AMOUNT 56.55

123 Robert S Kerr, Oklahoma City, OK 73102Revenue Account

Please See Last Page ForRoyalty Relations Contact Information


PAYEE NAME

ROBERT K BARNES

PAYEE NO CHECK DATE CHECK NO AMOUNT

******117.22144155 08/20/2018 1152977


126408 HUDSON 2820 1-23H OK WOODS10/17 P RI 17.81 45.76 815.12 74.79 GTH 709.27 0.00007324 0.00007324 0.06 0.01 GTH 0.05














SANDRIDGE E&P, LLC123 Robert S Kerr, Oklahoma City, OK 73102

Revenue Account

TOTHEORDEROF

DATE 08/20/18

$******117.22

1152977

ONE HUNDRED SEVENTEEN DOLLARS AND 22 CENTS

FRISCO, TX 750344472 DONEGAL DRROBERT K BARNES





DATECHECK NO.


08/20/181152977











3.19 Total 2.95

126467 HUDSON 2820 2-23H OK WOODS02/18 G RI 2.53 1870.55 4729.33 419.24 GTH 4000.12 0.00007324 0.00007324 0.35 0.03 GTH 0.30 MMBTU QTY: 1.011 BTU FACTOR: 1891.05 SEV301.27 0.00007324 0.02 SEV


















4.40 Total 3.89






03/18 O RI 61.86 188.55 11663.90 816.47 SEV 10824.03 0.00007323 0.00007323 0.85 0.06 SEV 0.79 OER11.66 0.00007323 0.00 OER





DATECHECK NO.


08/20/181152977


EXT11.08 0.00007323 0.00 EXTMRG0.66 0.00007323 0.00 MRG















5.10 Total 4.58



















EXT2.98 0.00080568 0.00 EXTOER3.14 0.00080568 0.00 OER





DATECHECK NO.


08/20/181152977


MRG0.29 0.00080568 0.00 MRG06/18 P RI 20.69 89.43 1849.91 184.66 GTH 1545.33 0.00080568 0.00080568 1.49 0.15 GTH 1.25


56.92 Total 50.64


















25.40 Total 22.77



















DATECHECK NO.


08/20/181152977








43.21 Total 39.28

SB1048 OK STATE WITHHOLDING WELL OK ALL07/18 S RI 0.00 0.00 6.89 SWH 6.89- 1.00000000 1.00000000 0.00 6.89 SWH 6.89-

0.00 Total 6.89-

CURRENT CHECKYEAR TO DATE

OWNER GROSSOWNER NETDEDUCTIONS

OWNER NETTOTALS

------------ ------------ -----------

------------PRODUCTS/DEDUCTIONS------------

138.22 21.00 117.22 248.85 36.84 212.01

P - PLANT PRODUCTS / O - OIL / G - GAS / S - STATE WITHHOLDING / GTH - GATHERING / SEV - SEVERANCE TAX / OER - OKLAHOMA ENERGY RESOURCES FEE / EXT - EXCISE TAX / SWH - STATE WITHHOLDING /

TOTAL CHECK AMOUNT 117.22

Maps


Production Graph


Summary page selections(Monthly Production)

Liquid (bbls): Current Cum: 216,912 Total: 216,912Gas (MCF): Current Cum: 1,281,192 Total: 1,281,192

Liquid (bbls) Gas (MCF) Wells

Date

Jan 1

8

Jan 1

7

Jan 1

6

Jan 1

5

Liq

uid

(B

bls

)

100

500

1,000

5,000

10,000

50,000

100,000

Gas (M

CF

)

100

500

1,000

5,000

10,000

50,000

100,000

Well C

ount

0 1

5

10

50

100

500

1,000

© 2018 Drillinginfo

Source Assignments


""11111111111"1111111111111111"11 111111111111111 11111111111111111111111111111111111 11111111111111'"11-2019-000029 Book:1287 Page: 7701/7/2019 12:01 PM Pg 1-2Fee: $15.00 Doc: $1.50 \..O!Shelley Reed - Woods County Clerk ~

OIL. GAS.MINERAL AND ROYALTY CONVEYANCE

For valuable consideration, the receipt of which is acknowledged, Robert K. Barnes, whoseaddress is 4472 Donegal Dr, Frisco, TX 75034 (hereinafter referred to as "Grantor"), doeshereby bargain, sell, transfer, assign, and convey 100.0000% of Grantor's interests in all oil, gas,mineral, royalty, overriding royalty, net profits, and other similar interests in the lands of WoodsCounty, OK as described in Exhibit "A" unto the following Grantee(s), its/their successors andassigns:

Oak Tree Minerals, LLC2601 Network Blvd. Suite 404Frisco, TX 75034

~OllYeyanc~ is effective as of December 1. 2018 and includes all executiverights, bonuses,and delay rentals applicable to Grantor's interest conveyed herein.Grantor agrees to pay any ad valorem taxes due on the interests herein conveyed prior toeffective date. All ad valorem taxes attributable to the interests herein conveyed for after theeffective date are the responsibility of Grantee(s), its/their successors or assigns.Grantor warrants and agrees to defend the title to the interest herein conveyed against the lawfulclaims and demands of all parties claiming or to claim the same, or any part thereof, by, throughor under Grantor, but not otherwise.

Robert K. Barnes

State of --re 'X~~County of tollOf)

§

§

§

By: lIZ--¢<~~«1ZRobert K. BarnesOwner

Return To:OAK TREE MINERALS, LLC.2601 Network Boulevard, Suite 404Frisco, TX 75034

Prepared By:Derik J. ToddOak Tree Minerals. LLC.

STATE OF OKLAHOMAWoods County 60

Documentary Stamp: $ \ !

ID: 863 Page I of 2

It is the Grantor's absolute intent to convey 100.0000% percent of the overriding royalty interests,non-producing royalty interests, term royalty and mineral interests, fee mineral interests, and oil, gas, orother mineral royalty interests in the lands of Woods County, OK, whether properly described below ornot.

Legal DescriptionSECTION 23 - TOWNSHIP 28 NORTH - RANGE 20 WEST, WOODS COUNTY, OKLAHOMA An Undivided 0.25 Acre MineralInterest in:S/2 SE/4 of Section 23, Township 28 North, Range 20 West, I.M., Woods County, Oklahoma, containing 80.00 acres, moreor less. It is the intention of the Grantor herein to convey an undivided 0.25 net mineral acres of its right, tttle and interest in theaoooe'lleSClibed l3iidS.SECTIOI~ 26- 'fOWtIISHtf"-26 NORTH - RANGE 20 WEST, WOODS COUNTY, OKLAHOMA An Undivided2.75 Acre Mineral Interest in:E/2 and the El2 NW/4 and the S/2 SW/4 of Section 26, Township 28 North, Range 20 West, I.M., WoodsCounty, Oklahoma, containing 480.00 acres, more or less. It is the intention oflhe Grantor herein to convey an undivided 2.75 netmineral acres of its right, title and interest in the above-described lands.

EXHIBIT "A"

END OF EXHIBIT "A"

Return To:OAK TREE MINERALS, LLC.2601 Network Boulevard, Suite 404Frisco, TX 75034

Prepared By:Derik J. ToddOak Tree Minerals, LLC.

!D:863 Page 2 of 2

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