PINEDALE ENERGY

Pinedale Energy company, through its subsidiaries, is the owner of non-operated working interests in certain developed and undeveloped oil and gas mineral leases in Pinedale field area, Sublette County, Wyoming, U.S.A. that total 11,994 acres (1,680 acres net). Their properties are operated by subsidiaries and affiliates of Ultra Petrolum Corp. and Oak Ridge Natural Resources, LLC At year-end 2016, their company had gross proved reserves of approximately 95.5 billion cubic feet of gas and 842 thousand barrels of oil (101.5 billion cubic feet equivalent); 93% undeveloped. Their acreage has a significant inventory of undeveloped vertical infill drilling locations.