Markham City North Field

The Company's team of geologists and engineers identified and developed the Markham City North project and subsequently marketed it to potential operators and financial partners with experience in the Illinois Basin. Core Minerals decided to become the operator and invest a minimum of $1.35 million into the development and testing of the field. We are carried for 10% working interest until Core has recouped their initial $1.35MM investment. After that milestone is achieved, our interest rises to 25% and we begin sharing the costs. Currently, the field is in the early phase of the pilot waterflood testing.

Depth Range: 2,000-4,000 feet

Working Interest: 10% carried (will rise to 25% upon cost recovery by operator)

NRI: 8.2%

Operator: Core Minerals