Operations

• Light Oil and Stacked Resource Play
• Over 148 sections - 500 Plus Well Inventory Over 3.8 tcf Resource Potential
  • Red Earth multi-year light oil prospect inventory
    • Solid light oil production base at Red Earth - excellent netbacks
  • Deep Basin multi-zone gas play - conventional and tight gas
    • Excellent high potential multi-zone gas prospects at Deep Basin
    • Conventional/traditional large reserve high rate
      • Plus large scale (stacked) tight gas resource play
    • Early and significant success in a scalable opportunity
      • Success in Elmworth, Red Rock plus significant land adds
    • Developed expanded land and opportunities in Deep Basin
      • Elmworth, Red Rock, Bilbo, Chinook Ridge, Jackpine
• Large Land Base

	Peace River	Red Earth + Misc	Total Acreage
Gross	117,000	79,000	196,000
Net	85,000	52,000	137,000

• Red Earth — Working Interest: 25-100% (operated)
  Large exploration/development project High value - top quality light oil property. Extensive 3D seismic coverage, waterflood and waterhandling, reduced operating costs and excellent netbacks. Drilling Inventory 20-25 gross wells and developing Slave Point play expands inventory.
  
  
• Deep Basin "Sweet Spot" Working Interest: 30-100% (operated)
  High potential area which Midnight is well positioned in. The balance is controlled by other major Oil and Gas companies. The Deep Basin is a Tight Gas Resource Play with large basin centred gas accumulation continually charged from Paddy/Cadotte to Nikanassin. Drilling Inventory 500+ locations with multi-well, multi-zone prospect inventory.