ROIL Presentation

1. DISCLAIMER
FORWARD LOOKING STATEMENTS
AND OTHER MATTERS
THE FINANCIAL AND OPERATING PROJECTIONS CONTAINED HEREIN REPRESENT CERTAIN ESTIMATES OF RICHFIELD OIL
AND GAS COMPANY (“RICHFIELD” OR THE “COMPANY”) AS OF THE DATE HEREOF. RICHFIELD’S INDEPENDENT PUBLIC
ACCOUNTANTS HAVE NOT EXAMINED, REVIEWED OR COMPILED THE PROJECTIONS AND, ACCORDINGLY, DO NOT
EXPRESS AN OPINION OR OTHER FORM OF ASSURANCE WITH RESPECT THERETO. FURTHERMORE, NEITHER RICHFIELD
NOR ITS MANAGEMENT CAN GIVE ANY ASSURANCE THAT THE PROJECTIONS CONTAINED HEREIN ACCURATELY
REPRESENT RICHFIELD’S RESULTS OF OPERATIONS OR FINANCIAL CONDITION. SOME OF THESE ASSUMPTIONS
INEVITABLY WILL NOT MATERIALIZE AND UNANTICIPATED EVENTS MAY OCCUR THAT COULD AFFECT RICHFIELD’S
RESULTS. THEREFORE, RICHFIELD’S ACTUAL RESULTS ACHIEVED DURING THE PERIODS COVERED BY THE PROJECTIONS
WILL VARY AND MAY VARY MATERIALLY FROM THE PROJECTED RESULTS. THESE VARIATIONS COULD MATERIALLY
AFFECT RICHFIELD’S ABILITY TO MAKE PAYMENTS WITH RESPECT TO ANY OF ITS OUTSTANDING AND/OR FUTURE DEBT
SERVICE OBLIGATIONS.
UNLESS OTHERWISE NOTED, THE FORECASTED INDUSTRY AND MARKET DATA CONTAINED IN THE ASSUMPTIONS FOR
THE PROJECTIONS ARE BASED UPON MANAGEMENT ESTIMATES AND INDUSTRY AND MARKET PUBLICATIONS AND
SURVEYS. THE INFORMATION FROM INDUSTRY AND MARKET PUBLICATIONS HAS BEEN OBTAINED FROM SOURCES
BELIEVED TO BE RELIABLE, BUT THERE CAN BE NO ASSURANCE AS TO THE ACCURACY OR COMPLETENESS OF THE
INCLUDED INFORMATION. RICHFIELD HAS NOT INDEPENDENTLY VERIFIED ANY OF THE DATA FROM THIRD-PARTY
SOURCES, NOR HAS RICHFIELD ASCERTAINED THE UNDERLYING ECONOMIC ASSUMPTIONS RELIED UPON THEREIN.
THESE MATERIALS ARE BEING SUPPLIED TO YOU SOLELY FOR YOUR INFORMATION AND FOR USE AT THE
PRESENTATION. THIS PRESENTATION AND THESE MATERIALS MAY NOT BE REPRODUCED, REDISTRIBUTED OR PASSED
ON, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, BY ANY MEDIUM OR
FOR ANY PURPOSE.
1

2. Company
Overview

3. INVESTMENT
HIGHLIGHTS
Low
Risk
Assets
Superior
Well
Economics
Liquids-­‐Rich
Asset
Base
with
Signiicant
Upside
Potential
Proprietary
Database
and
Research
Technology
Best
in
Class
Geological
Team
Strong
Management
Team
with
Proven
Track
Record
• Fields
with
long
production
histories
and
signiicant
well
control
• Documented
pay
in
areas
with
low
historical
recovery
due
to
antiquated
methods
• Signiicant
inventory
of
low-­‐cost,
high-­‐return
behind
pipe
and
offset
opportunities
• Well
costs
range
from
$0.25
-­‐
$0.50
million,
with
26
MBoe
EUR
per
zone
• Additional
performance-­‐based
upside
of
80
MBoe
per
well
in
the
Arbuckle
Formation
• Re-­‐work
and
new
drill
type
wells
produce
IRR’s
of
329%
and
126%,
respectively
•
•
•
•
1,656
MBoe
Proved
Reserves
(95%
oil)
-­‐
5,447
MBoe
2P
Reserves
(91%
oil)
$33.9
million
Proved
PV-­‐10
($158.3
million
2P
PV-­‐10)
Additional
unbooked
potential
in
horizontal
Mississippian
well
locations
World
class
upside
in
Utah
acreage
in
the
Navajo
Sandstone,
Mancos
Shale,
Mississippian,
and
other
formations
• Database
of
over
300,000
wells
–
most
comprehensive
Kansas
dataset
• Allows
for
rapid
identiication
and
evaluation
of
potential
acquisitions
• Proven
strategy
originally
developed
by
the
Richield
management
team
• Award-­‐winning
geologists
with
over
208
years
of
combined
experience
in
analyzing
drilling
and
development
opportunities
in
Kansas
and
Utah
• Experts
in
exploring
for
and
producing
from
reservoirs
that
are
not
in
capillary
pressure
equilibrium
and
subject
to
damage
from
standard
drilling
techniques
• Expertise
in
overthrust
geology
in
Rockies
• Demonstrated
a
unique
ability
to
identify,
evaluate
and
develop
undercapitalized
assets
• Found
in
excess
of
1
BBoe
of
reservoirs
in
the
UT
/
WY
overthrust
belt
• Pioneered
the
dewatering
production
methods
now
in
use
throughout
Kansas
and
Oklahoma,
by
many
operators
3

4. HIGHLY
EXPERIENCED
MANAGEMENT
TEAM
Alan
D.
Gaines:
Chairman
of
the
Board
of
Directors
• 30
years
experience
as
an
energy
investment
and
merchant
banker,
and
has
participated
in
the
raising
of
debt
and
equity
inancing
in
excess
of
$100
billion
• Chairman,
and
Founder
of
Dune
Energy,
Inc.
since
its
formation
in
May
2001
through
April
2011
and
CEO
form
inception
though
May
2007
Douglas
C.
Hewitt:
President
and
CEO
• 27
years
in
managing
all
aspects
of
oil
company
development,
including
geological
analysis,
design
and
implementation
of
advanced
engineering,
ield
management
and
inance
• Founder
&
CEO
of
publicly
traded
HEGCO
Canada,
an
oil
&
gas
exploration
company
(1995-­‐2000),
Iron
Thunder
Drilling
(1998),
Nemaha
Services
(1991),
Hewitt
Energy
Group,
Inc.
(1988),
and
New
Century
Petroleum
(1986)
Glenn
G.
MacNeil:
CFO
and
Director
• Over
30
years
in
public
accounting
and
CFO
positions
for
the
oil
and
gas
and
inancial
services
industries,
internationally
• Served
as
an
oficer
and
director
for
numerous
private
and
public
companies
• Lead
roles
in
acquisitions,
divestitures,
turnaround
situations
and
start-­‐up
businesses
Michael
A.
Cederstrom:
General
Counsel
and
Corporate
Secretary
• Practiced
law
since
1980,
over
17
years
experience
advising
oil
and
gas
companies
in
all
areas
including
leasing,
environmental
and
regulatory
compliance
and
securities
matters
• Practiced
law
with
Dexter
&
Dexter
Attorneys
at
Law
from
2004
to
2008
• Served
as
the
General
Counsel
and
CFO
of
HEGCO
Canada,
Inc.
from
1997
to
2002
George
T.
Ulrich:
Controller
• 28
years
experience
in
public
and
private
companies
in
senior
accounting
roles,
including
15
years
with
Iomega
Corporation
• Signiicant
experience
in
SEC
reporting
and
ilings
for
public
companies
David
K.
Detton:
Land
and
Legal
• Licensed
Utah
attorney
since
1976,
former
partner
in
two
of
the
100
largest
U.S.
law
irms
• Managed
land
teams
for
over
$1
B
in
acquisitions
of
oil
&
gas
companies
• Managed
company’s
recent
acquisitions
of
over
12,000
acres
of
mineral
rights
and
10,000
acre
feet
of
water
rights
4

5. DISTINGUISHED
BOARD
OF
DIRECTORS
John
J.
McFadden:
Independent
Director
Joseph
P.
Tate:
Independent
Director
Thomas
R.
Grimm:
Independent
Director
• 38
years
of
experience
in
the
investment
banking
industry
• Served
with
The
First
Boston
Corporation
/
Credit
Suisse
First
Boston
in
corporate
inance
and
public
inance,
including
as
Vice
President
and
Treasurer.
Served
as
Sr.
Managing
Director
of
Cambridge
Holding
and
Cambridge
Partners,
LLC
• 40
years
of
entrepreneurial
experience
• Founded
Valley
Sanitation
and
merged
with
10
other
waste
businesses
to
form
Superior
Services,
Inc.
• In
1996,
as
President
and
Chairman,
completed
a
successful
IPO
on
the
NASDAQ
• In
1999,
Superior
was
sold
to
Vivendi,
a
French
conglomerate
for
over
$1
billion
• Brings
many
years
of
top-­‐level
business
and
entrepreneurial
experience
to
the
Company's
Board
• From
1998
to
2002,
Mr.
Grimm
served
as:
President
and
CEO
of
Sam's
Club
as
well
as
Executive
Vice
President
of
Wal-­‐Mart
Stores
Inc.,
based
in
Bentonville,
Arkansas
• Mr.
Grimm
served
as
the
CEO
of
Pace
Membership
Warehouse,
a
subsidiary
of
Kmart
Stores
Inc.
• Founder,
President
and
CEO
of
Price
Savers
Membership
Warehouse,
which
achieved
one
billion
dollars
in
sales
in
its
last
year
prior
to
being
acquired
by
Kmart
Stores
Inc.
5

6. BEST
IN
CLASS
TECHNICAL
TEAM
Monty
Hoffman:
Production
Geologist
Raina
Powell:
Production
Geologist
Bill
Alexander:
Petroleum
Engineer
• From
2007
to
2009,
served
as
SVP
of
Exploration
for
Hunter
Energy,
LLC
• From
1990
to
present,
has
served
as
President
of
Safford
Exploration
-­‐
resulted
in
the
discovery
of
the
1
MMBO
Thief
Creek
Field
in
the
Wyoming
Thrust
Belt
for
Anshutz
Corp.
• From
1976
-­‐
1990
worked
for
Chevron,
supervised
the
development
of
Whitney
Canyon
-­‐
Carter
Creek
ields,
and
served
as
District
Geologist
of
the
Mid-­‐Continent
District
• From
1976
-­‐
1990
worked
for
Chevron
in
various
roles,
including
the
geologic
negotiations
with
partners
in
Painter
and
East
Painter
ields
• Since
1990,
has
served
as
a
Staff
Geologist
for
Safford
Exploration,
Inc.
• Experience
in
several
Wyoming
basins,
in
the
Williston
Basin,
and
in
Texas
and
Kansas
• From
2003
to
2005,
served
as
Senior
Staff
Geologist
for
Nautilus
Resources;
supervised
the
Gebo
Field,
which
doubled
from
500
BOPD
to
1000
BOPD
• Over
60
years
of
oil
and
gas
experience
• From
1960
to
1974,
served
as
a
drilling
and
completions
engineer
and
ield
engineer
with
Shell
Oil
Company
• Also
served
in
various
engineering
roles
with
Kirby
Exploration,
Alexander
Drilling,
Natomas
North
America,
and
Pennaco
Resources
Company
Paul
Lamerson:
Consulting
Geologist
• Over
50
years
of
oil
and
gas
experience
• Currently
with
Safford
Exploration,
where
he
served
with
the
team
responsible
for
the
discovery
of
the
1
MMBO
Thief
Creek
Field
in
the
Wyoming
Thrust
Belt
• From
1956
to
1989,
served
as
a
geologist
for
Chevron
where
he
was
part
of
the
team
who
discovered
Ryckman
Creek
(1976),
Painter
Reservoir
(1977),
East
Painter
Reservoir
(1978),
Whitney
Canyon-­‐Carter
Creek
(1977),
and
Glasscock
Hollow
(1980)
ields
Jeremiah
J.
Burton:
Geologist
• 15
Years
of
Oil
and
Gas
Experience
in
the
Mid-­‐Continent
and
the
Rockies,
including
work
for
Flying
J
Oil
&
Gas,
and
permitting
work
for
Anadarko
in
Alaska.
• 10
years
with
Richield
and
its
Predecessors,
including
the
initial
identiication,
evaluation,
and
development
of
Richield’s
current
Mid-­‐Continent
Properties.
• Helped
Develop
Richield’s
Proprietary
exploration
database
6

7. COMPANY
SUMMARY
! North
American
exploration
and
production
company
based
in
Salt
Lake
City,
Utah
" Publicly-­‐traded
on
the
OTCQX
U.S.
Premier
Market;
Ticker
Symbol:
ROIL
" Incorporated
April
2011,
simultaneous
with
the
merger
with
Hewitt
Petroleum,
Inc.
! Unique
balance
of
low-­‐risk
assets
with
immediate
cash
low
impact
and
long-­‐term
upside:
"
"
"
"
Kansas
-­‐
Low-­‐risk,
low-­‐cost,
high
return
assets
Wyoming
–
Low-­‐risk,
moderate
cost,
high
return
assets
Independence
Project,
Mancos
Shale
-­‐
Moderate
risk,
high
upside
Central
Utah
Overthrust
–High
Risk,
high
upside
! Development
strategy
focuses
on
increasing
value
through
exploitation
of
existing
and
future
assets
" Drilling
program
includes
re-­‐work
and
new
drill
operations,
as
follows:
o Kansas
-­‐
94
New
Drills
and
26
Recompletions,
for
production
o Wyoming
-­‐
One
Recompletion
and
One
New
Drill
o Utah
–
One
Recompletion
and
102
New
Drills
! Central
Utah
Overthrust
acreage
provides
signiicant
upside
potential
through
Mancos
Shale
exposure
" Approximately
11,639
acres
with
unbooked
resource
potential
in
the
Navajo
Sandstone,
Mancos
Shale,
and
deep
Mississippian
formations
(108
potential
drilling
locations)
-­‐
89.5%
WI
in
Twin
Creek
or
Deeper,
and
44.25%
WI
above
Twin
Creek,
in
the
HUOP
Freedom
Trend
Prospect
and
59.6%
WI
in
the
Liberty
Prospect.
" 20,000
acres
prospective
for
the
Mancos
Shale
(31
potential
drilling
locations)
–
3%
Working
Interest
7

8. Kansas
Asset
Overview

9. EXPLORE
AND
RESEARCH
SYSTEM
(“EARS”)
! Proprietary
database
that
includes
well
data
from
several
public
and
private
sources
Production
history
charts
! Data
on
300,000+
wells
drilled
in
the
mid-­‐continent
since
the
1920s
! Invested
over
$3
million
in
unique
strategic
advantage
which
allows
Richield
to:
" Allocate
capital
to
best
drilling
targets
" Identify
and
evaluate
acquisition
targets
Well
data
Well
logs
&
cross-­sections
Most
Comprehensive
Source
of
Kansas
Production,
Completion,
and
Geological
Data
9

10. MAJOR OPERATORS
IN
KANSAS
RichSield
Leaseholds
and
Major
Kansas
Operators
RichSield
Properties
Nemaha
Anticline
Cambridge
Arch
Legend
Salina
Basin
Hugoton
Embayment
of
the
Anadarko
Basin
Forecast
City
Basin
Central
Kansas
Uplift
Bourbon
Arch
Sedgwick
Basin
Cherokee
Basin
Operator
Apache
Chesapeake
Encana
Sandridge
Shell
Gorham
Field
•
1,218
acres
•
45
locations
Trapp
Field
•
160
acres
•
7
locations
Koelsch
Field
•
480
acres
•
10
locations
Perth
Field
•
480
acres
•
10
locations
South
Haven
Field
•
248
acres
•
5
locations
Richield
Leases
! Richield’s
acreage
is
located
in
the
heart
of
the
Central
Kansas
Uplift
" 2,506
acres
" 79
total
drilling
and
workover
locations
Source:
Company
ilings,
PLS
Oil
&
Gas
Database
10

11. CENTRAL
KANSAS
UPLIFT
OVERVIEW
Unproduced
Oil
and
Gas
Zones
Arbuckle
Overview
! Main
target
is
the
Arbuckle
formation,
a
water-­‐drive
reservoir
system
that
has
yielded
2.4
billion
barrels
since
the
late-­‐1920s
! Typically
outit
new
or
recompleted
Arbuckle
wells
with
high
volume
submersible
pumps
" Typical
well
will
produce
10-­‐40
BOPD
and
with
proper
well
density,
these
oil
rates
can
increase
! Untapped
Potential
2009
Halliburton
TMD
Log,
Gorham
Field
" Formation
has
been
produced
almost
exclusively
from
its
topmost
layer
" Productive
lower
Arbuckle
intervals
exist
in
every
major
CKU
ield.
These
zones
were
only
sporadically
produced—mainly
due
to
a
lack
of
information
sharing
among
an
unsophisticated,
under-­‐capitalized
producer
base
! Behind
Pipe
Reserves
" Recent
cased
hole
logs
on
Richield’s
wells
identify
signiicant
new
reserves
in
two
of
Central
Kansas’
largest
ields
2009
Halliburton
TMD
Log,
Trapp
Field
11

12. GORHAM
FIELD
Operating
Region
RichSield
Development
Plan
! A
geological
report
on
a
Gorham
Field
well
log
indicates
over
50’
of
pay
" Only
the
top
2’
–
5’
of
the
Arbuckle
has
been
produced
in
the
entire
ield
! 1,218
Net
Acres
! Average
WI
/
NRI
100%
/
80%
! $19.1
million
drilling
plan
! 45
Total
well
Locations
" 35
Production
wells
" 10
SWD
wells
12

13. KOELSCH
FIELD
Operating
Region
Field
Description
! Field
was
discovered
in
1952
and
abandoned
in
1957,
leaving
3.9
–
6.4
MMBoe
recoverable
! 480
Net
Acres
! Average
WI
/
NRI
85.5%
/
67.5%
! $7.4
million
drilling
plan
! 12
Total
well
Locations
" 10
Production
wells
" 2
SWD
wells
13

14. TRAPP
FIELD
Operating
Region
Field
Description
! Focus
area
is
the
highest
part
of
the
structure
" Wells
historically
experienced
the
highest
IPs,
highest
EURs,
and
most
recoverable
reserves
" Should
the
pilot
project
prove
successful,
ROIL
can
expand
to
the
entire
ield
! 160
Net
Acres
! Average
WI
/
NRI
100%
/
78%
! $2.8
million
drilling
plan
! 9
Total
well
Locations
" 7
Production
wells
" 2
SWD
wells
14

15. PERTH
FIELD
Operating
Region
Field
Description
! Estimated
12.6
MMBoe
of
reserves
in
place,
representing
recovery
eficiency
of
only
15%
" ROIL
estimates
recovery
eficiencies
of
up
to
40%
" Acquired
properties
to
redrill
and
produce
the
remaining
recoverable
reserves
of
2
to
3
MMBoe
! 480
Net
Acres
! Average
WI
/
NRI
85%
/
66.3%
! $8.5
million
drilling
plan
! 16
Total
well
Locations
" 13
Production
wells
" 3
SWD
wells
15

16. SOUTH
HAVEN
FIELD
Operating
Region
Field
Description
! Estimated
5.5
MMBoe
of
reserves
in
place,
representing
recovery
eficiency
of
only
10%
" ROIL
estimates
recovery
eficiencies
of
up
to
40%
" Acquired
properties
to
redrill
and
produce
the
remaining
recoverable
reserves
of
1.5
to
2.0
MMBoe
! 248
Net
Acres
! Average
WI
/
NRI
100%
/
79%
! $4.9
million
drilling
plan
! 8
Total
well
Locations
" 6
Production
wells
" 2
SWD
wells
16

17. Utah
and
Wyoming
Asset
Overview

18. Central Utah Overthrust— a String of Pearls
North American Overthrust (Rocky Mountains):
• 40%
of
world
oil
reserves
are
arrayed
along
thrust
belts.
• The
North
American
Thrust
Belt
runs
from
Alaska
(Prudhoe
Bay)
to
Mexico
(Cantrell
Field).
! Four
billion
barrels
of
oil-­‐equivalent
(BOE)
found
in
Canadian
Overthrust.
National and state parks
Extreme volcanism
Hogback
Ridge
! National
and
state
parks,
great
depths
and
extreme
volcanism
have
limited
activity
in
Montana
and
northwestern
Wyoming
! Two
billion
BOE
found
in
northeast
Utah
and
southwest
Wyoming
in
1970’s
and
80’s
• Two
large
reported
discoveries
on
both
the
Paxton
and
the
Gunnison
Thrust
conirm
productivity
of
Central
Utah
Overthrust.
! Covenant
Field,
discovered
in
2003/4,
has
estimated
150
million
Bbls
with
13
million
BO
produced
to
date.
Modiied
from
Moulton
and
Pinnell,
2006
! Providence
Field,
discovered
in
2008,
multi
pay
system,
has
estimated
reserves
several
times
larger
than
the
Covenant
Field
18

19. Central Utah Overthrust—Source and Migration Pathway
Modified from Willis 1999
It is estimated that a few trillion barrels of oil, or more, were
generated from Mississippian aged (359-318 million year old)
source rocks, mostly likely the Chainman Shale, in western Utah
and Nevada. However, only 65 billion barrels have been found in
Utah’s Tar sands.
• Oil found in the Covenant Field has a different source.
Mississippian
Source Basin
Several Trillion
barrels of Oil
Generated
• The HPI Liberty #1 discovered pristine Mississippian Oil from
this large source basin, for the first time.
Tar sands
Liberty Field
Freedom Trend
Prospect
• This identifies a migration pathway from Western Utah, into the
Central Utah Overthrust.
Tar sands
Only 65 Billion
barrels of oil
Tar sands are accounted
for in Utah’s
Providence Field Tar Sands
Covenant Field
Tar sands
• There are many more undrilled structural closures in the central
Utah over-thrust, the largest of which is Richfield’s HUOP
Freedom Trend Prospect.
• That prospect covers 11 contiguous miles on the northern end
of the Gunnison Thrust.
Mississippian Oil Migration Pathway and trapped oil
Modified from Schelling 2007
19

20. UTAH
AND
WYOMING
ASSET
OVERVIEW
Hogback Ridge
Prospect
WYOMING
Existing
Wells
Drilling
Locations
Working
Interest
64.3%
-­‐
140
89.5%
20,000
1
31
3.0%
561
-­‐
16
100.0%
946
11
100.0%
1,511
-­‐
9
100.0%
640
1
1
80.0%
Spring
V alley
Prospect
(WY)
160
-­‐
1
100.0%
T otal
(Existing Production)
-­‐
Graham
Reservoir
Field
(WY)
Graham
Reservoir Field
1
Hogback
Ridge
Prospect
(UT)
(32 MMBOE Produced)
160
Edwin
Prospect
(UT)
American Quasar
Pineview Field
74.7%
Pine
Springs
Prospect
(UT)
(208 MMBOE Produced)
9
Independence
Prospect
(UT)
Anschutz Ranch
Fields
-­‐
HUOP
Fredom
T rend
Prospect
(UT)
11,639
(Active Oil Seep)
1,025
Liberty
Prospect
(UT)
Spring Valley
Prospect
Acres
Liberty
Prospect
(UT)
(Acreage Offsetting
Past Production)
Richfield
Properties
36,642
3
218
! Liberty
#1
Discovery
Well
–
Drilled
in
2010
" Logs
and
testing
demonstrated
over
1,200
gross
feet
of
interconnected
fractures
in
Jurassic
Twin
Creek
Limestone
and
427
feet
of
oil
saturated
deeper
Navajo
Sandstone
Liberty Prospect
! Freedom
Trend
Prospect
(1,200+ feet of highly
fractured pay)
Pine Springs and
Edwin Prospects
(Gas Shows in Pine
Springs)
Freedom Trend
Prospect
" Gravity
maps
show
prominent
super-­‐structural
anomalies
" 105
miles
of
2-­‐D
seismic
shows
three,
overlapping
structural
closures
in
the
Independence
Prospect
(Navajo SS and Tununk
Sh. “Billion Barrel
Potential” Floyd Moulton)
(Tununk Shale with
Flowing Tests)
Wolverine
Providence Field
(450+ MMBOE Reserves)
Twin
Creek-­‐Navajo
" Extensive
Geochemcial
Anomalies
due
to
hydrocarbons,
cover
the
same
structures
identiied
by
gravity
and
seismic.
! Independence
Project
–
Drilling
operations
are
anticipated
to
begin
Q4
2013,
or
Q1
2014,
in
the
organically
rich,
Tununk
member
of
the
Lower
Mancos
Shale
! Hogback
Ridge
(UT-­‐
WY
Overthrust)
–
New
acreage
has
been
acquired,
Wolverine
Covenant Field
(150 MMBO Reserves)
Modified from Willis 1999
offsetting
a
past
producing
well.
Geological
research
and
lease
acquisition
is
ongoing
20

21. HUOP FREEDOM TREND PROSPECT
6,000 feet
9,000 feet
12,000 feet
North
Gravity
maps
show
prominent
structural
anomalies—similar
to
those
in
the
Covenant
and
Providence
ields
but
substantially
larger.
Multi-­‐spectral
satellite
photography
reveals
Freedom
Trend
acreage
to
be
among
the
most
hydrocarbon-­‐saturated
on
the
Overthrust.
2D
seismic
shows
three,
overlapping
structural
closures
in
the
Twin
Creek-­‐
Navajo.
One
engineering
study
found
potential
gross
reservoir
volume
in
excess
of
several
billion
barrels.
21

22. HUOP Freedom Trend Prospect
• Richfield's position covers the largest
identified undrilled structure in the Central
Utah Overthrust.
• We anticipate a discovery in three
stacked Navajo formations, 1,000+ feet
thick each, filled to spill point.
• The Freedom Trend prospect is in the
Mississippian oil migration path. 13,000 feet in
Fountain Green Prospect. Initial test well, to
Covenant Field
Cross Section
Source: Wolverine Gas & Oil Corp.
150 million Barrels of Oil
Jurassic will target three repeated sections of Twin CreekNavajo with the untested sourcing Mississippian super giant.
Providence Field
Cross Section
Source: Wolverine Gas & Oil Corp.
Categorized as several times larger
than Covenant Field
Richfield’s Freedom Trend Cross Section
Source: Hewitt Petroleum/Richfield Oil & Gas.
Categorized Seismically as several times larger than Providence Discovery
Wolverine
Gas
and
Oil
Company’s
Covenant
Field
and
subsequent
Oxy/Wolverine
Providence
ield
discoveries
in
2003/4
and
2008,
show
important
similarities
with
Fountain
Green.
22

23. HUOP Freedom Trend Prospect - Cretaceous Reservoirs
The
Cretaceous-­‐Tertiary
unconformity
is
in
a
position
to
be
an
excellent
trap
for
hydrocarbons
in
the
Cretaceous
Backthrust.
Proposed Location
High
Energy
Wedge
Unconformity
Cretaceous
Backthrust
• There is a High Energy
Wedge (HEW),
intersecting the top of
the Cretaceous
backthrust in Fountain
Green.
• This appears to be a
collapsed zone with
extensive natural
fracturing.
• The HEW is about
2,500’ thick, covers
about 17 Square miles.
The potential reserves
of this system are as
large as the Navajo
potential.
• The HEW is up-dip of
where the Tununk Shale
is currently generating
hydrocarbons
High
Energy
Wedge
delineated
by blue
faults
This structure map of the Emery Fm, is based off of 2-D Seismic, and
is overlaid with our Geochemical anomaly survey. It is extremely
interesting to note that the Geochemical anomalies are outlined by
the faults (in blue) that delineate the High Energy Wedge.
23

24. Independence Project – Mancos (Tununk) Shale
• In 1976, Hansen Oil drilled the Moroni #1A, to a
TD of 21,260’, looking for a Mississippian
Objective
• Circulation was lost in the naturally fractured
Tununk Shale (Lower Mancos) at 11,551’. Oil
flowed continuously to the pits. It took 4
months to drill past it and set casing. The well
was later plugged.
• In 1998 Cimarron drilled a horizontal Sidetrack in
the Tununk with 6 failed laterals.
• Limited perforations in the Tununk, through the
stuck drill pipe, have tested as much as 720
BOPD, but Severe mechanical constrictions and
LCM’s have combined to make this discovery
well inoperative in it’s current condition.
Tununk
Core
Fragment
from
Irons
#1,
Sanpete
Co.
UT,
Showing
Silt
and
Sand
stringers
interbedded
within
the
shale
Utah
during
the
late
Cretaceous
Moroni #1-AXZ Gas Flare 20,800 Units
When the Horizontal was being drilled,
Lost Circulation Materials were
recovered over 300’ from where they
were put in the ground during the 1976
drilling operations. This shows extreme
natural fracturing.
The extreme nature of the fracturing at
the Moroni #1 AXZH is confirmed by
the Dipole Shear Anisotropy log at
right.
Because Richfield’s acreage is on the
Western side of the Tununk play, close
to where the shoreline was, there are
fewer clays, and more quartz, which
allows the shale to be fractured and
maintain those fractures.
24

25. Mancos Shale and Others Compared
Bakken
Shale
North
Dakota,
Montana,
Canada
150
feet
thick
10,500
feet
deep
11%
Total
Organic
Carbon
.500
Pressure
Gradient
85
feet
of
interbedded
siltstone
and
sandstone
Requires
Hydraulic
Fracturing
Oil
Prone
Independence
Project
Mancos
Shale
(Tununk)
Utah
600-­‐3,000’
feet
thick
11,550
Feet
Deep
7%
Total
Organic
Carbon
.660
Pressure
Gradient
180
feet
of
interbedded
siltstone
and
sandstone
Extensive
Natural
Fractures
Oil
&
Gas
Prone
Eagle
Ford
Shale
Texas
200
feet
Thick
11,500
feet
deep
4.5%
Total
Organic
Carbon
.650
Pressure
Gradient
Requires
Hydraulic
Fracturing
Oil
&
Gas
Prone
A
good
shale
play
is
deSined
by
having
total
organic
carbon
(“TOC’s)
greater
than
2%,
high
thermal
maturity
and
a
brittle
nature
that
can
be
fractured.
Natural
Fractures
eliminate
the
need
for
Hydraulic
Fracturing,
saving
money
reducing
possible
environmental/political
issues.
The
Tununk
member
of
the
Mancos
shale
is
thick,
has
high
TOC’s,
interbedded
sandstones,
natural
fractures,
and
a
high
pressure
gradient,
which
should
yield
a
higher
than
average
recovery
factor.
Utica
Shale
Ohio,
Pennsylvania,
West
Virginia
140
feet
thick
7,500
–
9,500
feet
deep
7%
Total
Organic
Carbon
.46
Pressure
Gradient
Tuscaloosa
Marine
Shale
Louisiana,
Mississippi
200
feet
thick
10,000
–
15,000
feet
deep
1%
-­‐
4%
Total
Organic
Carbon
.7
Pressure
Gradient
25

26. Contact Information
OTCBB: ROIL
175 South Main, Suite 900
Salt Lake City, Utah 84111
Phone: (801) 519-8500
www.richfieldoilandgas.com