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Eagle Ford Shale

Freedom Oil & Gas has leased over 9,000 net acres in the prolific Eagle Ford shale in Dimmit County, Texas. Our acreage is adjacent to offset operators with successful drilling programs and proven acreage. There are over 300 offsetting wells producing in the area, including wells drilled in three different Eagle Ford producing intervals.

In the second half of 2017, we initiated a six well drilling program to confirm our technical analysis and then commenced further field development in mid-2018. As of February 2019, we had drilled and completed 15 horizontal wells, nine of which are on production with the remaining six in early stages of flow back. These first 15 wells targeted the Lower Eagle Ford formation with average lateral lengths of approximately 7,750 feet. We expect to drill four additional wells commencing in March 2019, one of which will be our initial test of the Upper Eagle Ford formation.

As a result of this activity, we expect to see the positive impact of additional wells on production, driving meaningfully higher revenue for 2019. In addition to growing production and cash flow, we are gathering valuable information that should allow us to optimize well spacing and completion design as we determine how best to move forward with additional development of our Eagle Ford position. We have tested several completion designs and worked to determine the optimum completion recipe for lateral length, well spacing, frac water volumes, sand concentration and hydraulic fracture density, among other aspects. We have made progress in understanding how best to develop our acreage, but our work is not finished.

Eagle Ford Shale

Freedom Oil & Gas has leased over 9,000 net acres in the prolific Eagle Ford shale in Dimmit County, Texas. Our acreage is adjacent to offset operators with successful drilling programs and proven acreage. There are over 300 offsetting wells producing in the area, including wells drilled in three different Eagle Ford producing intervals.

In the second half of 2017, we initiated a six well drilling program to confirm our technical analysis and then commenced further field development in mid-2018. As of February 2019, we had drilled and completed 15 horizontal wells, nine of which are on production with the remaining six in early stages of flow back. These first 15 wells targeted the Lower Eagle Ford formation with average lateral lengths of approximately 7,750 feet. We expect to drill four additional wells commencing in March 2019, one of which will be our initial test of the Upper Eagle Ford formation.

As a result of this activity, we expect to see the positive impact of additional wells on production, driving meaningfully higher revenue for 2019. In addition to growing production and cash flow, we are gathering valuable information that should allow us to optimize well spacing and completion design as we determine how best to move forward with additional development of our Eagle Ford position. We have tested several completion designs and worked to determine the optimum completion recipe for lateral length, well spacing, frac water volumes, sand concentration and hydraulic fracture density, among other aspects. We have made progress in understanding how best to develop our acreage, but our work is not finished.

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