• VAST acquired 100% of an oil and gas drilling project located in Grayson County, Texas, the Perrin Airport Prospect. The prospect was later sold to Payson Petroleum, LLC resulting in a 200% cash return on investment along with 15% carried interest in the initial well. The initial well, the Brown #1, drilled to 10,350’ and had initial production of 200 barrels of oil per day. 
  • Vast subsidiary Vast Fulton Beach, LLC and partners drilled four (4) wells located in Nueces County, Texas inside the Fulton Beach Filed. Though all four wells discovered hydrocarbons, only one well ended up being commercially economical due to depletion. Vast later sold its interest in the one producing well to the Operator, Wallis Energy.
  • VAST formed Current Energy Partners (“CEP”) to focus on natural gas acquisitions to be utilized to fuel power generation. CEP deployed roughly $17,000,000 in capital to purchase several coalbed methane gas fields located in the Powder River Basin, Wyoming. The acquisitions consisted of over 1,600 wellbores and 155,000 net acres which were producing a gross 17 million cubic feet of gas per day at the time of purchase. CEP also secured a $75,000,000 line of credit with Amegy Bank for the development of the assets and future acquisitions.  The assets were later sold to a public oil and gas company. 
  • VAST subsidiary VPC1, LLC and partners acquired five (5) underdeveloped leases in Eastern Kansas, Miami, Franklin and Allen Counties. We drilled forty-one (41) oil wells and only one (1) dry hole. During this same time period we formed Vast Petroleum of Kansas, LLC and drilled and additional thirty (30) wells with two (2) dry holes.  These wells are between 350’ and 1,100’, cost between $20,000 and $45,000 for drilling and completion, and come in at 1 to 5 Bopd. The key to Eastern Kansas is scale. Our model was validated on these limited number of leases. With the price of oil dropping in 2016, the leases were shut-in until commodity pricing increased. A plan is currently being put in place to further develop the leases.
  • VAST Exploration, LLC entered into a joint venture with JayHawk Energy, Inc. Vast now operates a 20,000 acre gas project, including 71 well-bores and an 18 mile pipeline in SE Kansas.  
  • VAST Exploration, LLC acquires a 65% working interest in 5 producing oil wells with 1,920 acres in Divide County, ND from JayHawk Energy, Inc. The transaction included 25 barrels of oil per day with 400,000 barrels of proved reserves. We were able to increase production to 60 BOPD and 750,000 barrels of proved reserves. Plans are being put in place to further develop the lease by drilling several lateral wells from existing wellbores. Up to 9 additional laterals will be drilled in the Madison formation. Each lateral could have initial production rates of 150 Bopd and 150,000 barrels of reserves.
  • VAST Exploration, LLC completes the acquisition of all the assets of Vanguard Energy Corporation in Hardin County, Texas. The transaction included approximately 75 barrels of oil per day.   
  • VAST Exploration, LLC acquired Bakken Hunters 30% working interest in the assets described below and previously owned by JayHawk Energy, Inc. located in Divide County, ND. 
  • VAST subsidiary Vast Lost Soldier, LLC and partners are in the process of drilling a wildcat well in Fremont County, Wyoming to 14,500’. The prospect is both conventional and non-conventional with eleven (11) plus primary stacked pay sands. Conductor pipe was set in October 2017 and drilling will commence in Q2 2018.
  • Legacy Resources, Inc. and partners including Camden Resources, Inc. and Swift Energy Company (NYSE:SWY) drilled a wildcat well in Kenedy, TX, the Burns #1 to a depth of 13,800’ and encountered multiple formations. The initial production rates were 3.1 million cubic feet of gas and 175 barrels of oil per day. Following the Burns #1, ten (10) additional wells were drilled and developed.  
  • Legacy Resources, Inc. and partners including Cobra Exploration Company performed a 3-D seismic shoot covering roughly 42,000 thousand acres in Chambers County, TX. The seismic identified roughly 13 large prospects which are currently being developed. Some of the prospects have been farmed out for exploration to other oil and gas companies. The first successful well drilled was the Mont Belvieu-Houston #1. Drilled to a depth of 14,100’ the initial production rates were 4 million cubic feet of gas and 380 barrels of oil per day.
  • Legacy Resources, Inc. and partners including International Petroleum and Swift Energy Company (NYSE:SWY) drilled a wildcat well in Goliad, TX, the Post #1 to a depth of 13,500’ and encountered multiple formations. The initial productions rates were 4.7 million cubic feet of gas per day. Three (3) additional wells were drilled which included the Bego #1, Post #3 and Post #4.
  • Legacy Resources, Inc. in a joint venture with International Petroleum, Tolar Energy and Petro-Hunt, drilled a well in the West Scott Field, Lafayette, LA to a depth of 14,500’ and encountered the prolific Bol Mex formations. The initial production rates were 20 million cubic feet of gas and 1,100 barrels of oil per day. The well has produced roughly 13 billion cubic feet of gas and 1 million barrels of oil.
  • Legacy Resources, Inc. and partners following the Covenant oil field discovery in Central Utah by Wolverine Gas & Oil Company, which was projected to be over 250 million barrels of oil, leased nearly 80,000 net acres. Partners included Clayton Williams Energy, Inc. (NASDAQ:CWEI) and Yates Petroleum Corporation. Legacy raised $4,000,000 for the venture. Portions of the leases have been sold to various oil and gas companies. 
  • Capital Energy Corporation in a joint venture with Ultra Oil & Gas, Inc., drilled a shallow well in Concho County, TX to a depth of 2,000’ and discovered what was later deemed as one of the largest shallow oil fields found in Texas in the previous ten years, the Dare I Hope Field. We drilled 28 wellbores to develop the field. 
  • Capital Energy Corporation in a joint venture with Ultra Oil & Gas, Inc., also drilled a second wildcat well in Concho County, TX and discovered a second field, the Dare I Cook Field. We drilled 5 wellbores to develop the field.
  • * The Well(s) as indicated above were unitized to create the “Dare I Hope Field”, which was discovered by the initial test well, the Pfluger #1. The field is a water driven field which produces at higher rates when more water is injected into the field. Daily production has been as high as 1,100 barrels of oil.
  • ** The Well(s) as indicated have been unitized to create the “Dare I Cook Field”, which was discovered by the initial test well, the #C-1. The field is also a water driven field which produces at higher rates when more water is injected into the field. Daily production has been as high as 197 barrels of oil. 
  • Bopd = barrels of oil per day
  • MCF = thousand cubic feet of gas
  • MMCF = million cubic feet of gas
  • BWPD = barrels of water per day

Prospect & Well Name

 

County/State

 

 Depth

 

Date

 

 

Producing Zone
Producing Zone

 

Initial Production
Daily Production

Dare I Hope-Pfluger #1

Concho, TX

2,200

Mar-1996

Hope

*80 +/- Bopd

Dare I Hope-Pfluger #2

Concho, TX

3,260

Jul-1996

Hope

*Dry Hole

Dare I Hope-Pfluger #3

Concho, TX

1,971

Oct-1996

Hope

*93 Bopd

Dare I Hope-Pfluger #4

Concho, TX

1,972

Dec-1996

Hope

*80 +/- Bopd

Dare I Hope-Pfluger #5

Concho, TX

1,942

Dec-1996

Hope

*80 +/- Bopd

Dare I Hope-Pfluger #6

Concho, TX

1,735

Feb-1997

Hope

*95 +/- Bopd

Dare I Hope-Pfluger #7

Concho, TX

1,750

Feb-1997

Hope

*80 +/- Bopd

Dare I Hope-Pfluger #8

Concho, TX

1,750

Apr-1997

Hope

*85 Bopd

Dare I Hope-Troglin #1

Concho, TX

2,100

Mar-1997

King

*Dry Hole

Dare I Hope-Pfluger #9

Concho, TX

1,750

Mar-1997

Hope

*80 +/- Bopd

Dare I Hope-Pfluger #10

Concho, TX

1,750

Jul-1997

Hope

*108 Bopd

Dare I Hope-Pfluger #1-B

Concho, TX

1,750

Jul-1997

Hope

*510 BWPD

Dare I Hope-Troglin #2

Concho, TX

2,100

Sep-1997

Hope

*Dry Hole

Dare I Hope-Pfluger #2-B

Concho, TX

2,100

Sep-1997

Goen

*700 BWPD

Dare I Hope-Pfluger #3-B

Concho, TX

1,750

Sep-1997

Hope

*340 BWPD

Dare I Hope-Pfluger #5-B

Concho, TX

3,200

Oct-1997

Cross Cut

*500MCF

Dare I Hope-Pfluger #11

Concho, TX

3,200

Nov-1997

Hope

*144 Bopd

Mobil Fee #4

Duval, TX

14,200

Dec-1997

Wilcox

6.1 MMCF

Schlorlemmer #2

Goliad, TX

11,700

Jan-1998

Holt

6.0 MMCF

Dare I Hope-Pfluger #12

Concho, TX

3,200

Feb-1998

Morris

*157 Bopd

Hoffman-Casas #1

Duval, TX

4,000

Apr-1998

Government

1.5 MMCF

Bratton #1

Nueces, TX

13,500

Nov-1998

Anderson

1.1 MCF

Hoffman-Casas #2

Duval, TX

3,600

Nov-1998

Government

Dry Hole

Hoffman-Casas #3

Duval, TX

4,000

April-1999

Rosenberg

Dry Hole

Dare I Hope-Pfluger #4-B

Concho, TX

1,775

Jul-1999

Hope

*25 Bopd

Federal 1-14

Smith, TX

15,000

Aug-1999

Smackover

Dry Hole

Dare I Hope-Pfluger #13

Concho, TX

1,783

Aug-1999

Hope

*25 Bopd

Dare I Hope-Pfluger #14

Concho, TX

1,795

Aug-1999

Hope

*100 Bpod

Dare I Hope-Troglin #3

Concho, TX

2,094

Aug-1999

Hope

*Dry Hole

Mitchell #1

Jefferson, TX

13,300

Sep-1999

Marg-Howei

Dry Hole

Dare I Hope-Pfluger #6-B

Concho, TX

1,800

Sep-1999

Hope

*87 Bpod

Troglin #4

Concho, TX

1,800

Oct-1999

Hope

*

Dare I Hope-Pfluger #15

Concho, TX

1,800

Oct-1999

Hope

*90 Bopd

Dare I Hope-Pfluger #16

Concho, TX

1,800

Oct-1999

Hope

*30 Bopd

Dare I Hope-Pfluger #17

Concho, TX

1,800

Oct-1999

Cook

*400 BWPD

West Scott-Falcon #2

Lafayette, LA

15,500

Dec-1999

Bol Mex 3, 4, & 5

15.2 MMCF & 1,100 Bopd

Dare I Hope-Pfluger #18

Concho, TX

2,000

Mar-2000

Hope

*

Dare I Hope-Pfluger #19

Concho, TX

2,000

Mar-2000

Hope

*

Dare I Hope-Pfluger #20

Concho, TX

2,000

Mar-2000

Hope

*

Dare I Hope-Pfluger #21

Concho, TX

2,000

May-2000

Hope

*

Luster Lockett #1

Concho, TX

1,700

May-2000

King

30 Bopd

Dare I Cook-#C-1

Concho, TX

2,000

May-2000

Cook

**90 Bpod

Dare I Cook-#C-2

Concho, TX

2,000

Jun-2000

Cook

**

Whitworth-#A-1 Whitworth

Concho, TX

1,800

Jun-2000

Cook

Dry Hole

Whitworth-#B-1 Whitworth

Concho, TX

1,800

Jul-2000

Cook

New Field

Leclair #1

Concho, TX

1,500

Aug-2000

Cook

Dry Hole

Wotjek #1

Concho, TX

1,500

Aug-2000

Cook

**

Dare I Cook-#C-3

Concho, TX

2,000

Aug-2000

Cook

**

Spiser #1

Concho, TX

2,000

Aug-2000

Cook

27 Bopd

Salt Gap-Riley #1

Concho, TX

2,000

Aug-2000

Cook

128 Bopd

Dare I Cook-#C-4

Concho, TX

2,000

Sep-2000

Cook

**

Luster Locket #2

Concho, TX

1,700

Jan-2001

King

Dry Hole

Dare I Cook-C-5

Concho, TX

2,000

Feb-2001

Cook

**

Salt Gap-Peach #1

Concho, TX

2,200

Feb-2001

Cook

 
  1. Wojtek #1

Concho, TX

1,800

Feb-2001

Cook

 

Garcia Ranch-Vaughn #1

Kenedy, TX

16,000

Feb-2001

L and M

12.6 MMCF

Bol Mex-Baldwin #9

Lafayette, LA

16,000

Apr-2001

Bol Mex 3 & 4

1.8 MMCF & 1,250 BO

Maurice-Doyce Lagneaux #1

Lafayette, LA

17,100

Apr-2001

Bol Mex 1,2,3,4 & 5

Dry Hole

Bayou Canne-Fontenot #1

Lafayette, LA

15,500

Apr-2001

Bol Mex 1,2,3,4 & 5

Dry Hole

Garcia Ranch-Mallet #1

Kenedy, TX

16,000

May-2001

L and M

10.2 MMCF

Post-Post #1

Goliad, TX

13,500

May-2001

Nita, Brandon, Tina

4.7 MMCF

Brandon-Brandon #1

Goliad, TX

13,500

Jun-2001

Nita

1.8 MMCF

Bol Mex-Gabriel Fuselier #1

Lafayette, LA

16,000

Jul-2001

Bol Mex 3 & 4

Dry Hole

Garcia Ranch-Rodriguez #1

Kenedy, TX

16,000

Sep-2001

L and M

Dry Hole

Rancho Bonita-Callan #1

Concho, TX

2,300

Jan-2002

L27, M10, M50

Dry Hole

Rancho Bonita-Callan #2

Concho, TX

2,300

Jan-2002

L27, M10, M50

Dry Hole

Mont Belvieu, Houston #1

Chambers, TX

14,100

Oct-2002

Yegua, Cook & HET

1.6 MMCF

Garcia Ranch-Burns #1

Kenedy, TX

13,800

Oct-2002

M10, M30 & M70

3.1 MMCF & 175 BO

Garcia Ranch-Burns #2

Kenedy, TX

13,800

Mar-2003

M10, M30 & M70

4.1 MMCF

Post-Bego #1

Goliad, TX

13,500

Mar-2003

Nita, Brandon, Tina

4.9 MMCF

West Scott-Falcon #3

Lafayette, LA

15,400

May-2003

Bol Mex 3, 4, & 5

Dry Hole

Garcia Ranch-Heath #1

Kenedy, TX

10,600

Jun-2003

L & M

Dry Hole

Monte Belvieu-Brook Hollow

Chambers, TX

12,100

Jul-2003

Yegua, Cook, HET

4 MMCF & 380 Bopd

Hagist Ranch-Texas Land #1

Duval, TX

9,000

Aug-2003

Wilcox

 

Garcia Ranch-MGB Ranch

Kenedy, TX

13,800

Aug-2003

L & M

 

Cow Island-Laidaker

Kenedy, TX

13,800

Sep-2003

L & M

13 MMCF 175 Bopd

Cow Island-Cahoon

Kenedy, TX

13,600

Sep-2003

L & M

 

Post-Post #3

Goliad, TX

12,930

Jan-2004

Nita, Brandon, Tina

1.45 MMCF & 5 Bopd

Post-Post #4

Goliad, TX

14,250

May-2004

Nita, Brandon, Tina

4.7 MMCF & 18 Bopd

Monte Belvieu-Hazeltine

Chambers, TX

16,500

Nov-2004

Yegua, Cook, HET

 

CULA (lease fund)

Central Utah

100,000 plus gross

Feb-2005

 

Leased for $4.8MM, under sell contract $26MM with a 20%

Vast Fulton Beach #1

Aransas, TX

8,000’

Nov-2008

A, B & C

83 Bopd

Vast Fulton Beach #2

Aransas, TX

8,000’

Nov-2008

A, B & C

Non-economical

Vast Fulton Beach #3

Aransas, TX

8,000’

Nov-2008

A, B & C

Non-economical

Vast Fulton Beach #4

Aransas, TX

8,000’

Dec-2008

A, B & C

Non-economical

Vast-Current Energy Partners

Campbell, Johnson, Converse & Sheridan, WY

200’-1,700’

Dec-2009

 

17 MMCFPD

 

Vast Perrin Airport

Grayson, TX

10,350’

Nov-2011

Baker & Cordell

200 Bopd

Vast-Kansas-Shikles

Total wells drilled (36)

Linn, KS

600’

Aug-2013/Jan-2014

Squirrel

Average IP 1-5 Bopd

Vast-Kansas-Ayers

Total wells drilled (5)

Miami, KS

400’

Nov-2013

Squirrel

Average IP 1-5 Bopd

Vast-Kansas-Schucknect

Total wells drilled (5)

Miami, KS

350’

Jan-2014

Squirrel

Average IP 1-5 Bopd

Vast-Kansas-Richardson

Total wells drilled (5)

Miami, KS

550’

May-2014

Squirrel

Average IP 1-5Bopd

Vast-Kansas-Gardner

Total wells drilled (1)

Miami, KS

350’

May-2014

Squirrel

Dry hole

Vast-Kansas-Carter

Total wells drilled (8)

Miami, KS

400’

May-2014

Squirrel

Average IP 1-5 Bopd

 

Vast-Kansas-Thohoff

Total wells drilled (11)

Allen, KS

1,100’

May-2014/Oct-2014

Cattleman, Bartlesville & Tucker

Average IP 3-5 Bopd

Please note, the figures above may indicate initial production rates. Typically, production volumes are highest at the initial production rate and will begin to decline with time. There can be no assurance that any of the current levels of production will be sustained over time and it is possible that any given well could become depleted, thereby causing the well to become commercially unproductive. Oil and natural gas production fluctuates on a day-to-day basis, and could be more or less during any given month by a substantial amount. This summary is neither an offer to sell nor a solicitation to buy interests in any Vast entity. Any offer of investment may be made only to accredited investors by delivery of an offering Memorandum, which contains more complete information including risk factors, by an authorized representative of the respective Vast entity conducting the offering. This summary does not discuss the risks associated with oil and gas investing. Any investment will only be offered pursuant to a proper exemption from registration under the Securities Act of 1933, as amended and applicable exemptions under state securities law.

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