Merchant Charles Mineral Interest, Reagan County, TX

•  321.47 Gross Acres

• 5.00% Mineral Interest

•  16.0735 Net Mineral Acres

•  16.0735 Net Royalty Acres

•  Operated by DE Central Operating, LLC & Oxy USA WTP

•  Potential Horizontal Objectives:
Lower Spraberry, Wolfcamp A, Upper & Lower Wolfcamp B,
Wolfcamp C and Wolfcamp D

•  1 Producing Horizontal Wolfcamp C Well

•  6 Producing Vertical Wolfberry Wells

•  12 Horizontal Wolfcamp DUCs

•  Average Daily Production:
27.03 BOPD & 34.03 MCFGPD (Gross)
  0.13 BOPD &   0.21 MCFGPD (Net)

•  Average Net Income:
$ 351 / Month