1. A Ceja Corp. 3,500-ft. exploratory test is planned in Section 4-2n-5w of Clinton County, Ill. The Tulsa-based operator’s #1 Kalmer targets pay in St. Peter. Offsetting Ceja’s new location to the east is #1 Litteken Heirs, which was abandoned in 1980 at 2,083 ft. in Silurian. Production in this part of Illinois is in Madison County’s St. Jacob Field about six miles northwest. Tim Cooksey Oil is also preparing a drilling program in Madison County: #1 Riverside TC is permitted to reach 3,999 ft. in Trenton from a site in Section 26-3n-5w. The deepest previous wildcat in the area reached 2,310 ft. in Silurian in 1974.

2. Six exploratory tests have been permitted by Prairie Oil LLC in Sangamon County, Ill. Four of the Oblong, Ill.-based company’s wildcats (#1, #2, #3 and #4 Barlow-Putnam), are scheduled for separate surface locations in Section 18-13n-4w. Each well has been permitted to 1,950 ft. targeting Silurian oil pays. The other two 1,999-ft. exploratory tests, #2 Dowson and #3 Dowson, are slated to be drilled from offsetting surface locations in Section 31-14n-5w. The ventures are separated by Silurian oil production in Divernon Field, which came online in 1982. Bi-Petro Inc. completed the most recent producer in the field, the 1,675-ft. #1-L Round Barn Farms that was tested pumping 14 bbl. of crude and 325 bbl. of water per day through perforations at 1,612-15 ft. Additional Silurian oil production is to the east in Sicily Field.

3. Benchmark Properties Ltd. of Olney, Ill., plans to drill a wildcat in eastern Macon County,. Ill. The #1 South Shores Inc is has a planned depth of 2,700 ft. and targets Silurian. The vertical venture is in Section 31- 16n-4e. Bi-Petro Inc. also has been active in this part of the county: #1 Bromley in Section 29-15n-3e was abandoned in 2012 at 2,580 ft. in Silurian. Some shows of oil were encountered in Oolitic lime at 1,668-75 ft. Devonian oil production in this part of Macon County is in Oakley Field.

4. According to IHS Inc., SM Energy is preparing to spud what is expected to be two closely watched horizontal wildcats in Wayne County, Ill. The horizontal tests are surrounded by vertical oil wells in Johnsonville Consolidated Field, where production comes from multiple Mississippian and Devonian pays. The #1-4 HOR Blessing will be drilled to 9,750 ft., 4,655 ft. true vertical. The horizontal venture targets oil pays in Lingle (Devonian) as a part of Johnsonville Consolidated Field. The Denver-based company’s venture will be in Section 4-1s-6e, with a bottomhole about one mile to the north in Section 4. About two miles to the southeast will be #1- 16 HOR Dwight in Section 16. It is expected to bottom nearly one mile north in the same section. The proposed depth is 7,000 ft., 4,520 ft. true vertical, and also targets Lingle.

5. Two Elba Field deep pool wildcats are planned by Strike Oil Inc. in Gallatin County, Ill. According to the permits, #1 Mary Oxford will be in Section 22-8s-8e and #1 Fred & William Devous will be in Section 22. Both wells are planned to reach 3,999 ft. with a Warsaw oil objective. The Evansville, Ind.-based company completed an Elba Field well in early 2013 (#1 Bourland) that flowed 32 bbl. of crude through McClosky perforations at 2,962-67 ft. after drilling to 3,010 ft. Before the discovery at #1 Bourland, production in Elba Field came from five Mississippian pays, with the deepest wells in the field yielding crude from Ohara at 2,820 ft.

6. A Pickens County, Ala., wildcat has been staked by Tuscaloosa, Ala.-based Land & Natural Resources Development. The 6,500-ft. #1 Brown 23-11 will be drilled in Section 23-18s-16w and is expected to bottom in Paleozoic. Several wells operated by the company are about six miles southeast of the latest planned venture in Chicken Swamp Branch Field that produces primarily from Pottsville at 4,600- 4,800 ft.

7. Core Minerals Operating plans to drill three Devonian wells in Indiana. A 3,000-ft. Pike County wildcat exploratory test, #1 Triad Mining, will be in Section 19-2s-7w. In neighboring Gibson County, the Evansville, Ind.-based company’s #1 Elizabeth Titzer is scheduled to be drilled to 3,000 ft. in Section 13- 3s-10w. Immediately south in Section 13 is the planned #2 Bernard Lutz, which is also slated to reached 3,000 ft. Both tests are targeting deeper oil pays as a part of Wheatonville Consolidated Field.

8. A 3,850-ft. Branch County, Mich., Trenton/Black River wildcat exploratory is planned by Jordan Development Co. The #1-21 Morrison is slated for Section 21-5s-6w. Offsetting the Traverse City, Mich.-based company’s new location to the west is a 3,804-ft. wildcat drilled in 1985. The #1-21 Arco had Trenton oil shows at 3,210-40 ft. and 3,285-3,456 ft. Jordan has permitted or drilled several Trenton-Black River wildcats in a four-county area in recent years, with tests in Branch, Calhoun, Jackson and Hillsdale counties. In January 2013, Jordan completed and abandoned #1-18 Johnson at 3,937 ft. in Glenwood. In Calhoun County, a 2012 horizontal Trenton/Black River well, #12-8 HD1 Hlinetzky, was drilled to 6,324 ft. (3,640 ft. true vertical). The Tekonsha Field well pumped 20 bbl. of crude and 180 bbl. of water daily through an openhole zone at 3,752-6,259 ft.

9. Denver-based Encana Oil & Gas USA announced results from two Collingwood shale completions in Kalkaska County, Mich. The #2-25 HD1 State Excelsior is in Section 1-26n-6w and flowed 2.28 million cu. ft. of gas and 1,190 bbl. of water daily through Collingwood perforations at 9,640-16,428 ft. The horizontal well reached 16,575 ft., 8,972 ft. true vertical, and bottomed to the north beneath Section 25-27n-6w. The #3-25 HD1 State Excelsior produced 6.29 million cu. ft. of gas, 10 bbl. of oil and 1,298 bbl. of water through perforations at 9,323- 19,825 ft. This venture was drilled to 19,972 ft., 8,971 ft. true vertical, and also bottomed to the north beneath Section 25-27n-6w. Encana has filed permit applications with Michigan regulators to drill several more horizontal tests near its State Excelsior wells.

10. According to IHS Inc., Savoy Energy LP plans to drill a horizontal leg at an Ohio wildcat drilled in April 2013. In 81 Fulton County, #1-29 Kunkle reached 3,075 ft. and is being plugged back to 1,700 ft. to drill the horizontal wellbore. The exploratory test, which was permitted to target Trenton/Black River oil pays, is in Section 29 of the Gorham Township. The Traverse City-based Savoy Energy staked its first Trenton/Black River wildcat in northwestern Ohio in early 2013: #1-5 Shull is in Lucas County and the proposed total depth is 3,075 ft.

11. Chesapeake Operating Inc. announced results from three Utica shale completions in Ohio. In Carroll County, #1H Coe 34-12-4 had a peak rate of 1,980 bbl. of oil equivalent per day (7.6 million cu. ft. of gas, 235 bbl. of crude, 470 bbl. of natural gas liquids [NGLs]). The Scroggs Field South horizontal well was drilled to 14,218 ft., with a true vertical depth of 8,041 ft. in Section 34 of Lee Township. The #6H Scott 24-12-5 is in Section 24, Perry Township. This Dining Fork Field well had a peak rate of 1,530 bbl. of oil equivalent per day (285 bbl. of oil, 5.4 million cu. ft. of gas and 350 bbl. of NGLs) after drilling to 13,500 ft. In Harrison County, #5H Henderson 10-12-6 had a peak rate of 1,625 bbl. of oil equivalent per day. The total depth reported is 13,867 ft. The Stock Field venture is in Section 10, Stock Township. The Oklahoma Citybased company did not provide additional completion details.

***All data in the Exploration Highlights section is based on sources believed to be reliable, but its accuracy cannot be guaranteed. The prudent investor intending to act upon any particular data is urged to verify it with all other available sources. In no way should the publication of these items be construed as an express or implied endorsement of a company or its activities.

Most land in the U.S. is divided into townships—rectangular tracts six miles square. The township, in turn, is divided into 36 numbered sections, each a one-mile square. The lines running north-south and dividing east from west are called range lines. The lines running east-west and dividing north from south are township lines.

A well in Section 15-Township 4 north- Range 3 east is abbreviated: 15-4n-3e.