South Texas Natural Gas
South Escobas Geology– Wilcox formation – adjacent to fields that have produced >600 Bcf to date
– Downdip Wilcox trend has produced over 3.5 Tcf to date
Low break-even gas price
– $0.80/Mcfe based on Q1 2012 average operating costs including workovers
Low F&D costs
– Sproule forecasts F&D costs of $1.04/Mcfe company share for 2P future drilling program
©2013 Argent Energy Trust