Black Warrior Basin, MS/AL

Target: Pottsville tight Gas Sands & Floyd Shale
Geological Age: Pennsylvanian/ Mississippian
Net Acreage: 40,000
Depth (ft): 5,000 – 12,000

• Acreage across two areas:
       • Lowndes and Noxubee Counties (Mississippi)
       • Pickens and Sumter Counties (Alabama)
• Three initial exploratory locations identified
• Additional Geologic and Geophysical work ongoing
• Longer term lease expiries – 1st drilling planned for Sept 2009