Bakken Asset - Midale

Midale (Advantage/Canetic Farm‐ins)

• Up to 88 sections of earnable land on rolling options
• Pay 50% for 50% WI, sliding scale non‐conv
  override (4‐7.5% BPO, 5‐12% APO)
• Mostly freehold/fee land, subject to FH
  lessor royalty of 15% (100,000 bbl crown
  royalty or min tax holiday)
• 1,750m depth
• 16 wells drilled to date
• Multiple hz locations identified