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HKN Inc. Machin LCS
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LCS PRODUCTION COMPANY



West Texas Operated Asset Sale

Callahan, Fisher, Jones, Kent, Nolan, Shackelford, Stonewall and Taylor counties, Texas


Approx. 45,000 Net Acres

1,500 BOPD and 3.00 MMCFD
Eight (8) Wells to be completed in the next two weeks

Very Active On-Going Operations

Cash Flow Approx. $3,000,000 per month

355 Producing Wells (214 active, 141 SI)

96 Injection Wells (60 active, 36 SI)
Operational Control

100% Operated WI 75-87.5% NRI

Total Net Proved Reserves of 7.2 MMBO and 7.7 BCF (Net PV(10) of $221.5 MM)

Total Net PDP Reserves of 3.86 MMBO and 5.74 BCF (Net PV(10) of $126.49 MM)

Total Net PUD Reserves of 3.3 MMBO and 1.9 BCF (Net PV(10) of $92.94 MM)

$26.63 MM required capital to obtain 3.3 MMBO and 1.9BCF (PUD)

All Reserves Evaluated with a $8 / $80 Price Deck

[CLICK HERE FOR THE CONFIDENTIALITY AGREEMENT]

 



MACHIN & ASSOCIATES, INC .

BID DEADLINE EXTENDED TO FRIDAY, OCTOBER 31ST, 2008


Rusk and Gregg County, Texas

West Danville Field (Pettit, Rodessa, Travis Peak, Cotton Valley, Haynesville)

Haynesville Potential - 25 BCF with a PV(10) of $31.5 MM using 2.5 BCF per location

1,168.9 Gross and Net Acres

78.67% Operated WI and 59% NRI
All properties are operated by Machin & Associates, Inc.

Three (3) active producing wells

330 MCFD and 16 BOPD Gross (193 MCFD, 9 BOPD Net)
Multiple Pays in Cotton Valley, Travis Peak, and Haynesville Shale

$122,000/month of cash flow to the 100% ($95,977/month to the selling interest)

Undeveloped Locations: Multiple Potential Undeveloped to Pettit, Travis Peak,
Locations in Cotton Valley Sands and Haynesville Shale

PDP Reserves of 746.8 MMCF and 48.2 MBO with a PV(10) of $3.8MM

Total Net Proved Reserves of 6.2 BCF, with a Net PV(10) of $9.6 MM

Probable Reserves of 6.3 BCF, with a Net PV(10) of $6.6 MM

Possible Reserves of 7.0 BCF, with a Net PV(10) of $7.4 MM

Total Property Reserves of 19.6 BCF, with a Net PV(10) of $23.6 MM

This Property offers an attractive combination of (a) established production (Pettit and Travis Peak),
(b) development drilling (Travis Peak and Cotton Valley), and (c) high – impact upside potential (Haynesville Shale)

[CLICK HERE FOR THE CONFIDENTIALITY AGREEMENT]

 



BIVINS ENERGY CORPORATION


HAYNESVILLE SHALE PLAY

 

UNLEASED MINERAL INTEREST PROPERTIES

HARRISON COUNTY, TEXAS

1,484.675 GROSS AND 468.9267 NET ACRES

VERY ACTIVE AREA FOR BOSSIER-HAYNESVILLE PLAY

[CLICK HERE FOR THE HAYNESVILLE SHALE PLAY MAP]

 



ELI REBICH OIL AND GAS PROPERTIES


BOSSIER-HAYNESVILLE LEASEHOLD


PANOLA COUNTY

SE CARTHAGE

3,200 GROSS AND 2,300 NET ACRES

ALL RIGHTS BELOW CV SAND (deep only)

NRI 72.5%

VERY ACTIVE AREA

 



MUSTANG DRILLING, LTD.


BOSSIER-HAYNESVILLE PLAY

 

Field: CCB Field, Shelby County, Texas

Acreage: 5,017.65 Net Acres

Interest: 100% Operated WI and 75% NRI

Wells: Three (3) active wells (2-CV, 1-TP)

Production: Multiple Pays in Cotton Valley and Travis Peak, Deep Bossier Potential

Nearby Fields: Timpson and Timpson, North Fields, Naconiche Creek Field, Stockman Field

Pipeline: 5.97 miles of 4” & 6” pipeline, Surface Facility at Interconnect to Gulfsouth, Available for 3rd party transportation

 



MARCELLUS SHALE LEASEHOLD


TIOGA COUNTY, PENNSYLVANIA


GAINES & ELK TOWNSHIPS


880.04 GROSS & 816.8179 NET ACRES


5 YEAR LEASES EXECUTED FEB-MARCH 2008


85% NRI

 



HKN, INC .


Main Pass Block 35
Plaquemines Parish, Louisiana
2,760.84 Gross Acres
Current Production of 460 BOPD Gross (330 BOPD Net)
Average Cash Flow of $942,000
25 Proved Developed Producing (PDP) Wells
PDP Reserves of 1.455 MMBO with a PV10 of $38.8 MM
Total Net Proved Reserves of 2.052 MMBOE (Net PV(10) of $60.76 MM)
7 Linked Platforms, 75 Oil Completions, 6 Injection Wells, 1 Fresh Water Well, and an 8-mile crude oil sales line with associated gas lift / flow lines
Operational Control: 90% Operated WI...71.75% NRI
8 Miles Offshore in 8’ to 10’ of Water
Speculative 3D Seismic Coverage on entire property
Significant Behind Pipe Reserves (213 MBO) and Shut-In Reserves (216 MBO)
Deep Lead with 31.5 BCF Potential
Established infrastructure provides consistent 3rd party handling fees of $1.7 MM per year

[CLICK HERE FOR THE CONFIDENTIALITY AGREEMENT]

 



BLAKEnergy, LTD.


La Sara Field
Willacy County, Texas
4,832.75 Gross and Net Acres
3.0 MMCFD and 175 BOPD
14 Active Wells / 1 SWD
Stacked Pays from 2,000’ to 14,500’
Massive Deep and Behind Pipe Potential
3D Seismic covering entire property
Property just SE of Tordilla Field (375 BCF)
Deep Frio Offset Wells with IP’s of 8 to 12 MMCFD and EUR’s of 10 to 12 BCF
Total Net Proved Reserves of 97.5 BCF and 3.63 MMBO (Net PV(10) of $312.0 MM)
Total Net PDP Reserves of 3.5 BCF and 229 MBO (Net PV(10) of $32.0 MM)
Total Net PDNP Reserves of 16.0 BCF and 1.8 MMBO (Net PV(10) of $51.0 MM)
100% Operated WI…..72% NRI
$1.8 MM required capital to obtain 16.188 BCF and 1.795 MMBO (PDNP)
$30.3 MM required capital to obtain 78.169 BCF and 1.667 MMBO

[CLICK HERE FOR THE CONFIDENTIALITY AGREEMENT]