Weld Road

Niobrara, Fort Hays, and Codell

Morning Gun Exploration is seeking development partners for a permitted project in the DJ Basin. We presently have an 3,000 net acre operated position in Weld County, Colorado.  The company has 24 operated ready-to-drill horizontal permits and the potential for hundreds of additional permits.  The development project has highway and county road access, a crude oil terminal within three miles of the permits, dedicated gas pipeline crossing the acreage, oil and water infrastructure being built out within miles of the acreage, and nearby drilling being done by prominent basin operators with top tier economics.  The project is located in rural Weld County, far away from suburban areas and associated political risks.  The project is defined by high resistivity in multiple formations. Nearby horizontal drilling has proven Niobrara members, Fort Hays and Codell sands oil productive.

AFE's within this development project are $7.2mm for single-well horizontal wells and $5.5mm for pad drilled horizontals (up to 12 wells per 1280 acre DSU)

Seep Ridge Development Project

Horizontal Mancos B and Niobrara - Uintah Basin, Utah

Morning Gun Exploration is seeking a development partner to operate this onshore U.S. development project. Seep Ridge is an industry scale staked pay horizontal development project in Uintah County, Utah. The project totals 24,500 net acres of leasehold and is entirely state surface and minerals..  The leasehold consists of two large land blocks with nearby oil and gas pipeline.

The project is a first-mover opportunity defined by two thick high resistivity, vertically productive formations, the Mancos B and the Niobrara formation.  Regional and local Tmax and vitrinite reflectance values and local vertical production define the Mancos B, at depths from 6,000 to 8,000 feet as mature for oil. Regional and local Tmax and vitrinite reflectance values and local vertical production for the Niobrara, at depths from 8,000 to 10,000 feet indicate oil to wet-gas window on the two blocks. Stacked oil window thermal maturity concept and large potential horizontal pay is supported by a volume of recently acquired geochemistry and the maps and data of multiple Rocky Mountain geological experts.

Local core analysis and well log correlations indicate a 400’ foot thick Mancos B, with the lower 100 feet of the interval having the highest oil saturation.  This high oil saturation interval aligns with both log porosity and resistivity. Porosity through the thick column ranges from 3 to 11% with a mean average of 5% porosity. Permeability average over 400’ is 2.25md, with the lower 100 feet averaging 4.05md horizontal and 7.7 which is far above many oil reservoirs in the Rockies. Local vertical oil and gas production proves a high gravity crude concept.

Single well cost is estimated at $7.0mm, with pad development dropping well costs to $5.5MM. Over 200 horizontal wells can be drilled on these State Land Blocks.

Central Utah Thrust Belt

Genesis Prospect

Twin Creek and Navajo Targets

Around the year 1880, Dr.  I. C. White generated a theory that earth folds were responsible for the accumulation of oil and gas in large quantities.  His anticlinal theory of oil and gas accumulation was based on surface observations of geology in sedimentary basins. That theory has proven fundamental to oil and gas development with far-reaching importance around the earth.  Over the last 140 years, his theory has proven true time and time again, resulting in the discovery of some of the worlds' largest oil and gas fields.

With the advent of horizontal drilling and further understanding of source rock reservoirs, publicly traded companies have focused on capital-intensive horizontal drilling - oil farming.  Exploration and prospecting in new territories have been left to the pioneering risk-takers, the bold and the daring, adventurous people with strong character willing to take a long chance on opening up a large new oil pool.  Morning Gun Exploration continues to generate low cost-of-entry wildcat projects and our latest project, the Genesis Prospect will be available for review in the fall of 2022.

The Genesis prospect is a vertical drilling project in the Central Utah Overthrust Belt. The project is a high-risk, high reward rank wildcat test for large light oil reserves within a large 2D seismic, surface, and subsurface geology-defined anticline within the thrust belt. Morning Gun Exploration has acquired its leasehold at a low royalty and low cost as there is no wild scramble for oil and gas leases in this area. The Genesis prospect is located in an unproven, untried, and untested area; it is speculative and can only be described as true wildcatting. This project is expected to be available for viewing at the end of September 2022.