TMS & Austin Chalk - 40,000 acres - WINTER 2020

TMS & Austin Chalk - JANUARY 2020 update

Sunrise is seeking an industry partner on unique Drill-to-Earn terms, with zero upfront entry cost, on a 40,000 acre stacked TMS & Austin Chalk oil prospect (half leased, half optioned) in south-central Louisiana.  The project will initially target 17 million bbls of PUD oil reserves in a proven resource play in Louisiana with 80+ horizontal producers and EURs of 750,000 BOE (95% oil) that generate IRRs of 60% at $50 flat oil pricing.

Modern well design, horizontal drilling, and staged completion technologies are producing impressive TMS IP30s above 1,200 BOEPD (95% oil) offsetting our leasehold position.

TMS Highlights
40,000 acres in proven resource play, half in the core
EURs of 750+ MBOE (95% oil)
No new completion techniques have been applied since 2013
IP30s still continue to improve with latest above 1,200 BOEPD in Sept 2019
No upfront acreage cost to buyer
100% WI available (80% NRI)
22 initial PUD locations containing 17 million bbls of PUD reserves (95% oil)
Louisiana Light Sweet Crude Premium of $6/bbl
IRRs of 60% at $50 flat oil
200 locations of running room on existing acreage
Stacked potential with Austin Chalk oil zone 700' shallower