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The primary target of the Jade Drilling Program is the Upper Simpson Bromide Sandstone, known in Kansas as the “Wilcox Sandstone.” In the Sedgwick Embayment area of South-Central Kansas Wilcox sands accumulated primarily as retrogradational shoreface, or, strandline complexes. The sands consisted of linear bar and beach deposits flanking the Cambrian-Ordovician age Ozark Dome. In the Sedgwick Embayment the stacked strandline complexes formed a nearly continuous zone of sandstone occasionally separated by thin shales or carbonates. Post-Devonian exposure and erosion created an updip subcrop along the northern and eastern flanks of the Jade Program area. Late Mississippian-Early Pennsylvanian tectonism segregated the Wilcox linear bar and beach deposits into isolated, mounded structures, some with apparent fault control and some without. Along the Wilcox subcrop in the Jade Program area fields ranging up to 2,000,000 barrels of oil have been found from these structural features, along with fields that appear to be simple stratigraphic traps along south-plunging noses.

In addition to the Wilcox Sandstone the Mississippian is highly prospective in the Jade Drilling Program area. The Wellington Field, which is located on the southern edge of the Jade Program, has produced in excess of 20 million barrels of oil from the Mississippian. The Anson and Anson SW fields, on the western edge of the Jade Program have produced nearly 7 million barrels from the Mississippian. Along the eastern flank of the project three smaller fields have produced from 200,000 to 400,000 barrels, also from the Mississippian. All of these fields produce from Meramecian-age vertically stacked tripolites and siliceous dolo-siltites preserved below the post-Missisippian unconformity. Traps vary from simple buried hills to fault-bounded flexures and stratigraphic traps on downthrown fault blocks.

The Kansas City Group carbonate units range through the lithologic spectrum from lime mudstones to fossiliferous and oomoldic grainstones. Traps are typically simple mounded structures that are the remnants of high-energy, shoal-water, marine deposits but also can be stratigraphic traps flanking subjacent structural noses. Kansas City Group fields range from small, one to two well fields, up to several million barrel fields spreading over two to three sections. The units of the Kansas City Group are also considered rich targets.

WEC believes the Jade Drilling Program is economically attractive for these reasons:

  1. 3D Seismic technology, coupled with extensive geologic studies significantly enhances our ability to resolve faulting and closures essential in predicting target structures.
  2. PSTM and PSDM processing.
  3. Kansas is an oil-friendly State with reasonable regulations.
  4. Low cost vertical drilling at relatively shallow depths, generally less than 4200 feet.
  5. Uncomplicated completion procedures which generally do not require expensive fracking.
  6. High IP rates, 100 BOPD or more.
  7. High recovery factors, up to 80+% of OOIP on primary recovery.
  8. Extensive oil and gas infrastructure including multiple oil markets and gas gathering.

Simpson Trap Styles

Simpson trap styles are, for the most part, structural in nature. Traps that are the result of faulting are common and typically the most productive in the south-central Kansas area, although, simple mounded 4-way closures are also common and are highly productive based on their size and oil column.

Stratigraphic traps, which are less common, are usually the result of a permeability trap or truncation by an unconformity. All three trap styles are observed in the Jade Drilling Program area, as illustrated on the following slides.

Prospects

Leasing has been completed on the three prospects shown here. They are presented with their locations. The other seven prospects are incomplete with regard to leasing so they will be presented without location to interested parties. Full disclosure is available with the signing of a confidentiality and non-compete agreement.

Woolsey Energy encourages any interested party to contact the Company for a more detailed evaluation.

Please contact Mark Sooter at (316) 267-4379 ext. 109 or e-mail at [email protected]