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Lot 41 Data PacketsKremeier Oil, LLC

Operated Leases in Richardson County, NE

Links to Data Packets for: Harry & Mabel Bohrer Lease

Beachy Trust & Russ Snethen Lease Lee Ann Rexroth Family Trust Lease

Richard and Terri Terrel Lease Telluric Data

API Number Well Name Status Qtr Qtr Section Township Range Lease# County Well Type26147211760000 BEACHY TRUST     2 Producing SE NW SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well26147211750000 BEACHY TRUST     3 Active Injection NW SE SW 3 1N 14E 91260 RICHARDSON Water Injection ‐ Disposal26147212030000 BEACHY TRUST (AKA Viola #91510)     1 Shut_In SW NW SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well26147211990000 BEACHY TRUST (AKA Viola #91510)     4 Producing SW NE SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well26147212000000 BEACHY TRUST (AKA Viola #91510)     5 Shut_In SE NE SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well26147212010000 BEACHY TRUST (AKA Viola #91510)     6 Shut_In NE NW SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well26147212020000 BEACHY TRUST (AKA Viola #91510)     7 Shut_In NW NE SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well26147211520000 BOHRER     1 Producing NE SE NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211890000 BOHRER     11 Producing SE SW NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211530000 BOHRER     2 Producing E 1/2 NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211540000 BOHRER     3 Producing SE SE NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211580000 BOHRER     4‐A Producing SW NW NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211620000 BOHRER     5 Active Injection SW NW 10 1N 14E 99999 RICHARDSON Water Injection ‐ Disposal26147211660000 BOHRER     6ST Producing NW NW NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211870000 BOHRER     7 Producing NW SW NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211880000 BOHRER     8 Producing SW SW NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211900000 BOHRER     9 Producing NW SE NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211910000 BOHRER (AKA #91515‐Viola)     10 Producing NW NE NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211920000 BOHRER (AKA #91515‐Viola)     12 Producing NE NW NW 10 1N 14E 91205 RICHARDSON Oil/Gas Well26147211600000 REXROTH FAMILY TRUST     1 Active Injection SE NE 9 1N 14E 99999 RICHARDSON Water Injection ‐ Disposal26147211800001 REXROTH FAMILY TRUST     10 Shut_In SE SE NW 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211820000 REXROTH FAMILY TRUST     11 Shut_In SW SW NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211830000 REXROTH FAMILY TRUST     12 Shut_In SE SW NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211570000 REXROTH FAMILY TRUST     2 Producing SE NE NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211590000 REXROTH FAMILY TRUST     3 Producing NE NE NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211650000 REXROTH FAMILY TRUST     5 Producing SW NE NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211630000 REXROTH FAMILY TRUST     6 Producing NW NE NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211670000 REXROTH FAMILY TRUST     7 Producing SW SE NW 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211680000 REXROTH FAMILY TRUST     8 Shut_In NE SE NW 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147211690000 REXROTH FAMILY TRUST     9 Producing SW NW NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well26147212040000 SNETHEN (BEACHY) AKA #91510     1 Producing SE NE SE 4 1N 14E 91260 RICHARDSON Oil/Gas Well26147211950000 TERREL     5 Active Injection SW NW SE 9 1N 14E 99999 RICHARDSON Water Injection ‐ Disposal26147211860000 TERREL  RICHARD & TERRI     1W Producing NE NW SE 9 1N 14E 91360 RICHARDSON Oil/Gas Well26147211940000 TERREL  RICHARD & TERRI     2 Shut_In NW SE 9 1N 14E 91360 RICHARDSON Oil/Gas Well26147211840000 TERREL  RICHARD & TERRI     3 Shut_In NE NE SW 9 1N 14E 91360 RICHARDSON Oil/Gas Well

API Number Well Name Operator Status Qtr Qtr Section Township Range Lease County Well Type

26147211680000 REXROTH FAMILY TRUST 8 KREMEIER OIL LLC Shut_ln NE SE NW 9 1N 14E 91210 RICHARDSON Oil/Gas Well

26147211800001 REXROTH FAMILY TRUST 10 KREMEIER OIL LLC Shut In SE SE NW 9 1,N 14E 91210 RICHARDSON Oil/Gas Well ,

Oil/Gas Well 26147211820000 REXROTH FAMILY TRUST 11 KREMEIER OIL LLC Shut In SWSW NE 9 1N 14E 91210 RICHARDSON

26147211830000 REXROTH FAMILY TRUST 12 KREMEIER OIL LLC Shut In SE SW NE 9 1N 14E 91210 RICHARDSON Oil/Gas Well

26147211840000 TERREL RICHARD & TERRI 3 KREMEIER OIL LLC Shut_ln NE NE SW 9 1N 14E 91360 RICHARDSON Oil/Gas Well

26147211940000 TERREL RICHARD & TERRI 2 KREMEIER OIL LLC Shut_ln NWSE 9 1N 14E 91360 RICHARDSON Oil/Gas Well

26147212000000 BEACHY TRUST (AKA Viola #91510) 5 KREMEIER OIL LLC Shut In SE NE SW 3 1N 14E 91260 RICHARDSON Oil/Gas Well

26147212010000 BEACHY TRUST (AKA Viola #91510) 6 KREMEIER OIL LLC Shut In NE NWSW 3 1N 14E 91260 RICHARDSON Oil/Gas Well

26147212020000 BEACHY TRUST (AKA Viola #91510) 7 KREMEIER OIL LLC Shut In NW NESW 3 1N 14E 91260 RICHARDSON Oil/Gas Well

26147212030000 BEACHY TRUST (AKA Viola #91510) 1 KREMEIER OIL LLC Shut_ln SW NWSW 3 1N 14E 91260 RICHARDSON Oil/Gas Well

Shut-in Wells

Well Name TypeProducing Formation API BOPD BWPD

Bohrer 1 Oil Hunton 26‐147‐21152 2 125Bohrer 2 Oil Hunton 26‐147‐21153 3 125Bohrer 3 Oil Hunton 26‐147‐21154 1.5 125Bohrer 4‐A Oil Hunton 26‐147‐21158 1.5 125Bohrer 6‐ST Oil Hunton 26‐147‐21166 2 100Bohrer 7 Oil Hunton 26‐147‐21187 5 500Bohrer 8 Oil Hunton 26‐147‐21188 5 350Bohrer 9 Oil Hunton/Viola 26‐147‐21190 shut‐inBohrer 10 Oil Hunton/Viola 26‐147‐21191 off but can run

Bohrer 11 Oil Hunton 26‐147‐21189shut in

 casing onlyBohrer 12 Oil Hunton/Viola 26‐147‐21192 4 450Bohrer 5 SWD SWD Hunton 26‐147‐21162Beachy #1 Shut in Hunton/Viola 26‐147‐21203 shut‐in

Beachy #2 Oil Hunton 26‐147‐21176 2 100 (tubing leak)Beachy #3 SWD SWD Hunton 26‐147‐21175Beachy #4 Shut in Hunton 26‐147‐21199 shut‐inBeachy #5 Shut in Hunton/Viola 26‐147‐21200 shut‐inBeachy #6 Shut in Hunton/Viola 26‐147‐21201 shut‐in

Beachy #7 Shut in Hunton/Viola 26‐147‐21202shut‐in 

but can runSnethen #1 Oil Hunton/Viola 26‐147‐21204 3 300#1 SWD SWD Lower Hunton 26‐147‐21160#2 Oil Hunton 26‐147‐21157 1 80 (timer)#3 Oil Hunton 26‐147‐21159 1 100#5 Oil Hunton 26‐147‐21165 1 200#6 Oil Hunton 26‐147‐21163 1 60#7 Oil Hunton 26‐147‐21167 1 125#8 Oil Hunton 26‐147‐21168 shut‐in#9 Oil Hunton 26‐147‐21169 1 100#10 Oil Hunton/Viola 26‐147‐21180 shut‐in#11 Oil Hunton/Viola 26‐147‐21182 shut‐in#12 Oil Hunton 26‐147‐21183 shut‐in

#1W Oil Hunton/Viola 26‐147‐21186 2300 (off but can 

run)#2 Oil Hunton/Viola 26‐147‐21194 shut‐in#3 Oil Hunton/Viola 26‐147‐21184 shut‐in#5 SWD SWD Lower Hunton 26‐147‐21195TOTALS 37 3,265

Production Summary

NOTE:  Production potential with wells up and running ‐ Bohrer approximately 45 bopd, Beachy/Snethen 7 bopd, 

Rexroth 16 bopd, Terrel 6 bopd.

This field is a triple stack field. Hunton, Viola, and Simpson Oil.

Kremeier Oil LLCPROFIT AND LOSS

January - December 2019

Accrual Basis Friday, April 24, 2020 09:36 AM GMT-05:00 1/2

TOTAL

Income

17000-Bohrer Lease Oil Income 157,438.37

27000-Rexroth Family Trust Oil Income 62,827.13

37000-Beachy Trust Oil Income 8,745.96

47000-Terrel Oil Income 3,362.65

99810-Other Oil Income 961.94

99820-Interest Income 292.60

99830-Other Income 4,270.34

Total Income $237,898.99

GROSS PROFIT $237,898.99

Expenses

18000-Bohrer Lease

18001-Pumper 2,218.91

18508-OilWh/Sev Tax 3,935.97

18520-Utilities 18,399.26

18530-Repair & Maintenance 29,237.58

18531-Chemicals 668.26

18540-Lease Accounting 11,685.95

Total 18000-Bohrer Lease 66,145.93

28000-Rexroth Lease

28001-Pumper 1,943.92

28508-Oil Wh/Sev Tax 1,570.64

28520-Utilities 18,190.06

28530-Repair & Maintenance 4,463.31

28531-Chemical 668.26

28540-Lease Accounting 3,016.33

Total 28000-Rexroth Lease 29,852.52

38000-Beachy Lease

38001-Pumper 1,943.91

38508-Oil Wh/Sev Tax 218.61

38520-Utilities 18,190.06

38530-Repair & Maintenance 1,609.97

38531-Chemical 668.27

Total 38000-Beachy Lease 22,630.82

48000-Terrel Lease

48001-Pumper 2,043.92

48508-Oil Wh/Sev Tax 84.06

48520-Utilities 18,190.05

48530-Repair & Maintenance 9,144.11

48531-Chemical 668.24

49060-Depreciation 2,000.00

Total 48000-Terrel Lease 32,130.38

Kremeier Oil LLCPROFIT AND LOSS

January - December 2019

Accrual Basis Friday, April 24, 2020 09:36 AM GMT-05:00 2/2

TOTAL

98500-Overhead Expense

98505-Property Tax 2,773.01

98510-Rent 1,136.27

98520-Internet 265.38

98530-Repair & Maintenance 156.33

98550-Insurance 3,730.30

98560-Telephone 2,871.93

98570-Contract Labor 100.00

98585-Legal 1,000.00

98600-Office 1,678.58

98610-Advertising & Promotional 1,526.56

98620-Supplies & Materials 3,790.91

98650 Donations 1,273.24

98660-Fees, Dues, Subscriptions 512.41

98670-Entertainment Meals 92.19

98680-Travel 1,553.40

98690-Vehicle 13,860.00

99060-Depreciation 4,290.64

Total 98500-Overhead Expense 40,611.15

Total Expenses $191,370.80

NET OPERATING INCOME $46,528.19

NET INCOME $46,528.19

OIL RESERVE POTENTIAL BOHRER, TERREL, REXROTH, & BEACHY LEASES

DAWSON FIELD, RICHARDSON COUNTY, NEBRASKA

AUGUST 2013

DEACON GEOLOGY INC.

1

OIL RESERVE POTENTIAL BOHRER, TERREL, REXROTH, BEACHY,

McDANIELS, DANIELS, & TANGAMAN LEASES DAWSON FIELD

RICHARDSON COUNTY, NEBRASKA

AUGUST 2013

_____________________________________

GEORGE E. PETERSEN GEOLOGIST (KS 166)

2

Deacon Geology Inc. has no interests, monetarily or otherwise in the properties or company subject of this report. Any relationship with Branch Production Company Inc. his agents or other interested parties involved in the assets of this report is strictly on a consulting basis.

This reserve study is written with the understanding that the reader is knowledgeable of exploration, development, operations, and necessary data analysis associated with the oil and gas industry. The reader should also be aware there are certain risks associated with developmental drilling and that the author of this report implies no guarantees with respect to the success of future development of these leases.

3 LOCATION AND LEASE DESCRIPTION S

The Dawson Field is located just north of the Kansas Nebraska border in Richardson County, Nebraska. The majority of the field which was discovered in 1940 lies in sections 2,3,4,9,10,& 11, T1N, R14E. The subject reservoirs are geologically located in the southeast Nebraska portion of the Forest City Basin. Production existed from 1940 until 1955 when the low oil prices would not permit economical production to continue. At the end of production in 1955, the field had a cumulative production of 481,338 barrels of oil. Oil was sold from the field beginning again in May, 2011. Production from the Beechy Lease to July, 2013 was 3282 BBL, Terrel Lease, 3890 BBL, Bohrer Lease 506,341 bbls and the Rexroth Lease 17,841. Production has experienced several periods of down time due to limited electrical power. The general descriptions of the producing leases are:

BOHRER: NW ¼, sec 10, T1N, R14E containing 160 acres more or less TERREL: W ½, SE ¼, & E ½, SW ¼, & SW ¼, SW ¼ sec 9, T1N, R14E, containing 280 gross acres. REXROTH: NE ¼, & E ½ NW ¼ , & E ½, NW ¼, NW ¼, sec 9, T1N, R14E containing 260 gross acres. BEECHY: PT N ½, W ½, SW ¼, N of Ditch 47.5 acres PT E ½, SW ¼, N of Ditch 63.2 acres PT E ½, NW ¼ & PT W ¼, NW ¼ S of S Fork of Nemaha River Sec 3 T 1 N, R 14 E 052.2 acres 164 total gross acres

4

SNETHEN: PT N ½, N ½ , SW ¼, N of ditch ending at ditch on N line of SW ¼, approx. 20+ acres General description of leases yet to be drilled; therefore, no reserve estimates can be made on these properties. DANIELS: NE ¼, sec 30 T2N, 14 E 160 total gross acres MARY SNETHEN TRUST: E ½, SW ¼, & NW ¼, SE ¼, sec 29 T2N, R14E

120 total gross acres HAROLD SNETHEN: W ½ SW ¼, &S ½ NW ¼, sec 29, T2N, R14E 160 gross total acres McDANIELS: NE ¼, sec 30 T2N, R14E 160 total gross acres McDANIELS: NE ¼, sec 30 T2N, R14E TANGEMAN: PT of sec 4, PT of SE ¼ sec 5 , PT sec 6, NW ¼ & N ½, SW ¼, & N ½, NE ¼ sec 8 , & PT of NW ¼, NW ¼ sec 9 T1N, R14E, & S ½,NW ¼ sec 33 T2N, R14E, subject to roads , highways and drainage ditches. 894.39total gross acres

5

PRODUCTION HISTORY

The first recorded oil production from the Dawson field began in 1940 with 1,400 barrels of oil produced according to Nebraska Geological Survey. From the 1 well beginning, to a high of 13 wells which occurred in 1943,and again in 1955 481,338 Barrels at which point limited production occurred until 2011 when the present level of activity signaled a rebirth of the field. Zones that have the potential to produce are the Hunton and Viola dolomites and the Simpson sand. Production is found in an erosional anticlinal trap in porous zones in the upper Hunton and Viola along with some fault s related to the structure. Gravity is 23deg API. The Simpson has no production records to date and no estimates can be made for this Geologic unit. Initial production ended in 1955 when a bridge over the Nemaha river washed out, and increasing water cuts along with low oil prices brought a halt to most production within the field limits. The increased oil prices of today, along with the ability to handle higher percentages of water to oil from the strong water drive, again make this area commercially viable.

6

GEOLOGY The boundary between the base of the Kinderhook shale and the top of the Hunton is an erosional zone . The top of the Hunton has various areas of increased porosity and permeability as well as areas where porosity has not developed. There is a strong probability that much of the existing oil production has come from areas with good fracture porosity. Well log porosity values may show limited porosity within the dolomite when the fractures which are generally not seen on the standard Compensated Neutron Density yield higher volumes of fluid than would be anticipated from a standard log evaluation. The Micro and Sonic logs which were run on some of the later wells confirm the presence of fracturing; however it is difficult to give a specific amount of the porosity increase. The Hunton appears to have experienced several transgressive and regressive periods of sea level change. These fluctuations in sea level helped to create many of the areas that had greater porosity development. The Viola dolomite appears to lie conformable under the Maquoketa shale. Porosity development within this interval was related by various times when fluids moved through unit.

7

RESERVE DETERMINATIONS

Reserves were determined by volumetric means and analogy. The recovery factors utilized in determining the reserves are based on industry accepted methods and involve oil saturation values, porosity, permeability, viscosity, and average reservoir thickness as elements in deriving the recovery estimate. These factors have been attributed, in large part, to data that was obtained during much of the latest (since2011) development chapter of the fields history. The lengthy history of the early development and redevelopment of the field has certainly altered the reservoir quality. Water influx, stimulation damage and production methods have had an unknown effect.

Early production of 481338 barrels of oil from 1941 through 1955 and present production of 531351 barrels of oil through July of 2013 suggest that there is producible oil left in place.

Reservoir parameters were determined from a foot by foot analysis of wire line logs on key wells on each lease as well as available geologic reports. The volumetric size of the reservoir was calculated to yield the oil in place after a recovery factor was applied to each zone. Consideration was then given for prior production, resulting in the remaining oil reserve value.

Based on these procedures, the remaining recoverable reserves on the producing leases are based on the following percentages of recovery. The OOIB (original oil in place) was calculated as 5,491,200 bbls

HUNTON & VIOLA 30% 1,658,000 STB 40% 2,197,300 STB 50% 2,745,600 STB

*Stock-tank barrels

8

To categorize the reserves into the proper categories is not possible to do with any great degree of accuracy with the current knowledge and data available from previous and current wells.

PERTINENT DATA FROM CALCULATIONS

Producing Formations Hunton Viola

Average Depth 2200 2920 Average net thickness feet of oil zone 18’ 20’ Total producing area 830 acres Average Porosity 16% 12% Initial water saturation 85% 77% Volume factor 1.05 1.05 Oil Originally in Place ( OOIB ) mstb, see page 7 (OOIP)mstb

Cumulative Production mtsb thru July 2013 1,012,689+ bbls

NO reserve studies were made on the McDaniels, Daniels, and Tangaman leases as there was no well data available on these leases.

9

DISCUSSION Log calculations for wells drilled since the reopening of the main portion

of the field operated by Branch Production Company do not adequately account for fracture porosity and permeability in either the Hunton of the Viola formations. Geology reports for many of the wells were evaluated to try to determine the thickness of the total oil column. The results of the existing wells suggest that the western limits of the field have not yet been determined.

During the initial portion of the current drilling program, many of the wells only penetrated the very upper few feet of the Hunton and thus the underlying Viola has not yet been reached. These untapped zones are primarily under the Bohrer and Rexroth leases. All wells sine this initial drilling activity have now gone down to test the Viola.

The lower Simpson sand has been penetrates in only two wells and the fact that there were oil shows present does not give enough information to make any type of reserve studies possible.

Beachy/Snethen Tanks

Bohrer (left side) and Rexroth (right side( SWD Tank Area

Rexroth 7 Bohrer 2