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Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

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Page 1: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

pg. 1

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Page 2: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

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Page 3: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

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Page 4: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

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(;(&87,9(�6800$5<�

�7KH�3DURZDQ�2LO�3URVSHFW�LQ�,URQ�&RXQW\��8WDK��86$��RIIHUV�DQ�H[FHOOHQW�VWUXFWXUDO�DQG�VWUDWLJUDSKLF�FRPELQDWLRQ�IRU�ODUJH�VFDOH�RLO�DQG�JDV�GLVFRYHU\���$�ODUJH�DQWLFOLQDO�VWUXFWXUH�O\LQJ�����PLOHV�WR�WKH�QRUWK�RI�WKH�3DURZDQ�3URVSHFW�DORQJ�WKH�RYHUWKUXVW�EHOW�KROGV�WKH�VSHFWDFXODU�&RYHQDQW�2LO�)LHOG��GLVFRYHUHG�LQ��������3RWHQWLDO�IRU�WKH�GLVFRYHU\�RI�D�VLPLODU�ILHOG�ZLWKLQ�WKLV�VRXWKHUQ�SRUWLRQ�RI�WKH�RYHUWKUXVW�EHOW�LV�VXJJHVWHG�E\�VWUXFWXUDO�LQWHUSUHWDWLRQ�RI�D�ODUJH�VHLVPLFDOO\��PDSSHG���ZD\�VWUXFWXUDO�FORVXUH���

)RU�WKH�3DURZDQ�3URVSHFW�WKH�SURVSHFWLYH�������IRRW�WKLFN�7ULDVVLF�1DYDMR�6DQGVWRQH�OLHV�DW�D�GHSWK�RI��������������IHHW��2WKHU�GHHSHU�VDQGVWRQH�DQG�FDUERQDWH�KRUL]RQV�H[WHQGLQJ�WR��������IHHW�LQ�GHSWK���RIIHU��WKLFN�UHVHUYRLU�XQLWV�ZLWK�WKH�SRWHQWLDO�IRU�ODUJH�UHVHUYHV�RI�K\GURFDUERQV���7KH�&RYHQDQW�ILHOG�H[KLELWV�FORVXUH�RYHU�DSSUR[LPDWHO\��������DFUHV�ZLWK�DERXW�����IHHW�RI�SD\�LQ�WKH�1DYDMR�WKXV�DOORZLQJ�D�SURMHFWLRQ�RI�QHDUO\�RQH�ELOOLRQ�EDUUHOV�RI�RLO�ZLWKLQ�WKDW�ILHOG���$�VLPLODU�VWUXFWXUH�OLHV�RQ�WKH�3DURZDQ�3URVSHFW�,URQ�&RXQW\�OHDVHV��ZLWK�D�SRWHQWLDO�IRU�DQ�RLOILHOG�RI�VLPLODU�RUGHU�RI�PDJQLWXGH��SDUWLFXODUO\�ZKHQ�PXOWLSOH�SURVSHFWLYH�KRUL]RQV�DUH�FRQVLGHUHG���

�If 75% of the 9,000 acres of closure on the 36,000 acre Parowan prospect were to contain reserves, a potential oil target in the order of one billion barrels of oil may be present. A target of this size is possible when one considers the vertical closure of 1,000 feet on the Parowan structure compared with a 400 -foot pay in the Covenant Field.

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Page 5: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

pg. 5

7KH\�KROG�DGGLWLRQDO�XSVLGH�³ZLOGFDW´�SRWHQWLDO�ZLWKLQ�NDUVWHG�DQG�IUDFWXUHG�FDUERQDWHV��$OVR��ZLWKLQ�WKH�GHHSHU�'HYRQLDQ�VHTXHQFH�WKHUH�DUH�OLWKRORJLF�XQLWV�VLPLODU�LQ�QDWXUH�DQG�SRWHQWLDO�WR�WKH�SURGXFWLYH�%DNNHQ�³VKDOH´�H[SORLWHG�HOVHZKHUH�PDNLQJ�WKLV�XQLW�DOVR�D�WDUJHW���

When combined with the main Navajo and Twin Creek targets the total potential for the Parowan Prospect is substantially larger, and could double the proposed potential of one billion barrels of oil for the Parowan Prospect to the two billion barrel level.

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Page 6: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

pg. 6

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$FFHVV�WR�WKH�DUHD�LV�YLD�,QWHUVWDWH�+Z\����IURP�6DOW�/DNH�&LW\�WR�WKH�QRUWK��DQG�IURP�&HGDU�&LW\���PLOHV�WR�WKH�VRXWK���7KH�PDMRU�UHIHUHQFH�SRLQW�IURP�UHFHQW�RLO�GLVFRYHULHV�LV�WKDW�LW�OLHV�����PLOHV�VRXWK�RI�WKH�VSHFWDFXODU�&RYHQDQW�2LO�)LHOG�GLVFRYHUHG�E\�:ROYHULQH�3HWUROHXP�LQ���������

0DUNHWV�IRU�WKH�RLO�OLH�LQ�WKH�6DOW�/DNH�&LW\�DUHD�WR�WKH�QRUWK��DQG�LQ�VRPH�HYROYLQJ�UHILQHU\�FDSDFLW\�QHDUHU�WR�WKH�&RYHQDQW�)LHOG��7UXFNLQJ�WR�WKH�ZHVW�WR�&DOLIRUQLD�UHILQHULHV�LV�DOVR�D�SRVVLELOLW\�GHSHQGLQJ�RQ�PDUNHWV���5DLO�WUDQVSRUW�LV�HYROYLQJ�UDSLGO\�IRU�FUXGH�RLO�DQG�YDULRXV�SRVVLELOLWLHV�OLH�RQ�UDLO����7KH�SURSHUW\�FRQVLVWV�RI��������DFUHV�RI�OHDVHV��ORFDWHG���PLOHV�QRUWK�RI�&HGDU�&LW\��8WDK��6HH�)LJXUH�����

Page 7: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

Thrust Belt Trend of Western North AmericaFIG. 1

MILES

KM0 160

0 100

Canadian productive salient

RobbMountain Park

Lovett RiverBrown Creek

NordegStolberg

Limestone MountainWilson Creek

Panther River Burnt TimberHunter Valley

Benjamin CreekBenjamin Creek

GhostJumping Pound WestMorley

Jumping Pound-Wildcat Hills

Moose Mountain

Sarcee

Whiskey

Turner Valley

Quirk CreekStimson

Savanna CreekColeman

Waterton Pincer CreekLookout Butte

BRITISHCOLUMBIA

IDAHO WYOMING

NEVADA

UTAH

COLORADO

MONTANA

ALBERTA SASKATCHEWAN

RichSummit

WasatchUtah

Juab

Millard

Piute

Sevier

Beaver

SaltLake

Beaver City

Wyoming

productive

salient

Utah

potentially

productive

salient

Hogback Ridge

Whitney Canyon/Carter CreekRyckman Creek

Clear CreekPainter ReservoirEvanston

Yellow CreekAnschutz Ranches

PineviewElkhorn

Lodgepole

Sanpete

Wild Horse

GreatSalt Lake

Wolverine Gas & Oil

Central thrust belt discovery

“Kings Meadow Ranchesȥ�ˋHOG

Easternmost thrust

East ernmost thrust

East

ernm

ost thrust

Uinta Mountains

Kern R

iver

gas

pip

elin

e

Source: Moulton and Pinnell (2005)

Oil Field Gas Field Area of Lease Interest

Page 8: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

Thrust Belt Northern and Central UtahFIG. 2

Map courtesy of Utah Geological Society (2005)

Oil / Gas Field Thrust fault

MILES

KM0 40

0 25

GreatSaltLake

UtahLake

BearLake

LINCOLN

UINTAUTA

H

RICHCACHEBOX ELDER

TOOELE

WYOMINGUTAH

DUCHESNE

CARBON

EMERYMILLARD

JUAB

SANPETE

SEVIER

WAYNE

GARFIELD

PIUTE

WEBER

MORGAN

SUMMITSALTLAKE

WASATCH

UTAH

DAVIS

GRAND

Pineview

oil�ˋHOGAnschutz Ranch

East gas�ˋHOGSaltLakeCity

Nephi

Salina

5LFKˉHOGCovenant

oil�ˋHOG

cross section

15

70

70

15

89

89

89

2489

Page 9: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

4/1/20TWOG 100%

UTU-87790

UTU-87791

4/1/20TWOG 100%

4 40.31 3 39.45 2 39.10 1 38.74

5 40.27

6 40.05

7 39.83

13

1 38.422 38.463 38.504 38.54 4 38.49 3 38.67 2 38.85 1 39.03 4 39.15 3 39.21 2 39.27 1 39.33 4 39.48 3 39.72 2 39.96 1 40.20 4 40.28 3 40.20 2 40.12 1 40.04

39.76

39.82

39.90

4 39.96

3

2

1

40.06

40.18

40.28

4 40.38

3

2

1

40.43

40.41

40.39

4 40.38

3

2

1

40.28

40.14

39.98

4 39.84

3

2

1

39.79

39.85

39.91

4 39.97

3

2

1

3 50.254 50.19 1 50.372 50.312 49.963 49.84 1 50.10

4 49.52

5 39.60

6 39.32

7 39.06

2 50.553 50.494 50.43 1 50.61 4 50.62 3 50.56 2 50.52 1 50.46 4 50.41 3 50.35 2 50.29 1 50.23 4 50.32 3 50.56 2 50.90 1 51.04

1 39.02

2 39.20

3 39.40

4 39.58

1 39.70

2 39.72

3 39.76

4 39.78

1 39.88

2 40.02

3 40.18

4 40.32

1 40.39

2 40.37

3 40.35

4 40.33

1 40.28

2 40.20

3 40.12

4 40.04

1 41.022 41.513 40.25

4 40.15 5 41.54 6 41.54

7 41.56

13 41.59

8 41.579 40.05

10 40.30 11 39.95 12 41.60

1 41.582 41.57

4 42.183 42.16

5 42.145 42.13

2 48.00 1 48.064 47.90 3 47.962 47.87 1 47.87

4 47.85 3 47.852 48.05 1 47.914 48.33 3 48.192 48.55 1 48.45

4 48.75 3 48.652 48.58 1 48.724 48.28 3 48.422 48.09 1 48.17

4 47.89 3 48.03

5 40.02

6 40.09

7 40.16

1 40.23

2 40.31

3 40.37

4 40.45

1 40.49

2 40.53

3 40.55

4 40.59

7 39.18 6 39.07 5 39.46 4 39.85

1 40.32

2 40.32

3 40.32

8 39.54 9 39.94

10 40.02

11 40.90

1 40.38

2 40.50

3 40.62

4 40.74

1 40.78

2 40.72

3 40.68

4 40.62

2 40.12 1 16.503 40.204 40.281 40.332 40.353 40.374 40.39

5 32.12

1 47.442 45.433 45.304 45.19

5 41.75

6 41.85

7 41.95

1 45.622 46.153 46.674 47.191 47.472 47.603 47.764 45.36

5 37.98

6 38.06

7 38.14

7 43.881 40.002 40.003 45.36

4 40.00

5 40.00

6 40.00

40.00

40.00

40.24

2

3

4

1 40.00

40.40

40.40

40.40

40.40

2

3

1

4

40.48

4

40.00

40.00

2

3

1

40.00

40.15

40.05

40.25

40.35

2

3

1

4

40.25

40.35

40.15

40.05

2

3

1

4

38.31

38.39

38.48

2

3

4

1 38.22

38.42

38.34

38.28

2

3

4

1 38.48

38.38

38.45

38.56

2

3

4

1 38.28

38.73

38.81

38.90

2

3

4

1 38.64

39.272 38.621

42.15

42.25

42.35

2

3

4

1 42.05

42.26

42.18

42.08

2

3

4

1 42.36

1 40.562 40.713 40.874 41.02

1 40.68

4 40.67

1 40.88

3 40.81

5 40.06

6 40.05

640.16 740.01

840.51940.42

1240.56 1340.86

3 39.86 2 40.55 1 40.404 40.00

5

10

11

40.36

40.76

40.56

141.01 40.912

440.86 40.763

40.275

40.136

1 48.33

5 43.04

6 43.00

7 42.94

1 42.88

2 42.81

3 42.73

4 42.66

1 42.57

2 42.46

3 42.36

4 42.25

1 42.08

2 41.82

3 41.58

4 41.37

1 41.05

2 40.74

3 40.44

4 40.15

1 40.14

2 40.47

3 40.65

4 40.415 39.106 39.107 39.70

2 45.104 45.59 3 45.351 45.792 45.934 46.21 3 46.071 46.302 46.354 46.44 3 46.391 46.482 46.524 46.60 3 46.561 46.702 46.844 47.14 3 47.001 47.132 46.954 60.53 3 46.77

5 52.15

6 52.29

7 52.43

1 52.56

2 52.70

3 52.80

4 52.96

1 53.08

2 53.21

3 53.33

4 53.46

1 53.56

2 53.62

3 53.70

4 53.76

1 53.61

2 53.84

3 53.86

4 53.89

1 53.88

2 53.83

3 53.79

4 53.74

4 38.78 3 39.07 2 39.36 1 41.63

5 41.68

6 41.36

7 41.04

4 37.64 3 37.93 2 38.21 1 38.504 36.84 3 36.89 2 37.13 1 37.32

4 35.59 3 35.86 2 36.12 36.384 35.23 3 35.30 2 35.36 1 35.43

4 43.79 34.91 2 35.02 1 35.14

5 50.48

6 50.59

7 50.70

1 50.85

2 51.04

3 51.22

4 51.41

1 51.58

2 51.75

3 51.91

4 52.08

1 52.25

2 52.44

3 52.62

4 52.81

1 52.95

2 53.07

3 53.19

4 53.30

1 53.38

2 53.45

3 53.51

4 58.36 5 43.37 6 43.19 7 43.01 4 42.71 3 42.28 2 42.37 1 42.72 4 43.15 3 43.66 2 44.16 1 44.67 4 45.09 3 45.42 2 45.76 1 46.09 4 45.92 3 45.24 2 44.67 1 44.81 7 43.97 6 42.36 5 41.17 4 41.36

3 40.70

2 40.42

1 40.14

41 40.002 40.003 40.004 40.00

42.351 40.002 40.003 40.00

6 42.75

7 43.29

1 56.712 56.653 56.594 56.531 56.542 56.613 56.694 56.76

5 42.26

124 40.00 31 40.632 40.704 40.83 3 40.761 40.882 40.924 41.00 3 40.96

40.00 40.00 40.00

1 40.882 40.264 30.73 3 40.15

5 30.52

6 30.36

7 30.18

1 30.09

2 30.06

3 30.04

4 30.01

3 26.28

4 25.98

1 26.86

2 26.56

3 27.27

4 27.09

1 27.63

2 27.45

34 39.37 39.55 2 39.73 1 39.91

34 39.92 40.02 2 40.14 1 40.24

111.52

260.52

195.42

287.42

369.42

451.52

1982.52

204.52

30 5.52

416.5

21

96.522

67.523

28.524

98.52

782

.22

605

. 22

527

. 22

190

. 72

1

439

.02

339

. 22

22 7

. 32

107

.22

417

.62

343

. 72

21

8.52

172

.22

34 38.91 39.26 2 39.60 1 39.9534 40.56 37.23 2 37.89 1 38.53

5 44.81

6 45.05

7 45.08

2 45.29

3 45.41

4 45.54

1 45.16

2 45.83

3 45.96

4 46.11

1 45.67

2 46.37

3 46.49

4 46.62

46.24

2 47.363 47.064 47.75

V. & C.

*L. Bergstrom 25%*Clark Lvstk 50%

*K. Carlson 8.33%*D. Aguilar 8.33%

J. Bergstrom 8.33%

*V. Hamilton 25%

Williams Land Co. Ltd

E.S. Adams 25%

H&D Milne 50%

Williams Land Co. Ltd

E. & A. Leigh 50%(BOTH DECEASED)

E. & A. Leigh 50%(BOTH DECEASED)

E. & A. Leigh 50%(BOTH DECEASED)

E. & A. Leigh 50%(BOTH DECEASED)

Leigh 50% Leigh 50%

V. Hamilton 50%

V. Hamilton 25%

N. Hamilton 50%

N. Hamilton 25%

N.G. Adams, et al 25%

WilliamsLand Co.

Williams Land Co. Ltd

Williams Land Co. LtdWilliams Land Co. Ltd

Williams Land Co. Ltd

Williams Land Co.

Williams Land Co.

C. & M. Evans

Evans

T. & A. Bauer, et al

F.& R. BauerF.& R. Bauer

*N. Hamilton 25%

M. Schnipple 12.25%

Clark Livestock 25%*B. Meadville 18.75%

et al

BeaconMgmt.Matthes

Wingspan Exchanges LLC

Webb

R.&P. Clark LLCR.S. & D.J. Clark

F.& R. Bauer

Howard & Donald MilneN. HamiltonV. HamiltonG. Benson

N. HamiltonV. Hamilton

N. HamiltonV. Hamilton

N. HamiltonV. Hamilton

V.D.Rule, et al

V.D.Rule, et al

So. Utah Pension Tr.

So. Utah

R&P ClarkR&D Clark

Williams Land Co. Ltd

R. & P. Clark

Guymon,

Pension Tr.

B. Stratton

Williams Land Co.

F.& R. Bauer

LivestockClark

*G. Benson 50%

P. & B.Harvey

Statton Est. (Oil only)

Williams Land Co.

L. & B. BergstromK. & R. Carlson

D. Aguilar

F.& R. Bauer

F.& R. Bauer

V. HamiltonN. Hamilton

R. & D. Clark

Clark LivestockClark Livestock Clark Livestock

Clark Livestock Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Clark Livestock

Williams Land,LTD

Eddie & Chastie Stratton

Nancy Clark

N.A. Adams

N.A. Adams

F.& R. Bauer

Williams Land Co.

Bauer

Revocable Trust of Norman M. Adams

Revocable Trust of Norman M. Adams

LivestockClark

Revocable Trust of Norman M. Adams

Meadville

LivestockClark

L. & B. BergstromK. & R. Carlson

D. AguilarL. & B. BergstromK. & R. Carlson

D. Aguilar

L. & B. BergstromK. & R. Carlson

D. Aguilar L. & B. BergstromK. & R. Carlson

D. Aguilar

ML 50131

ML-50126

ML-50127

ML-50127

ML 50137

ML 50138

ML-50269

ML-50269

ML-50269

ML-50269

ML-50269

ML-50269

ML-50269ML-50269

ML-50269

ML-50269

ML-50271

ML-50271

ML-50271

ML-50271

ML-50271

ML-50271

ML-50275

ML-50275

ML-50275

ML-50275ML-50275 ML-50275

ML-50275

ML-50275

ML-50275

ML-50275ML-50275

ML-50275

ML-50275

ML-50277

ML-50277

UTU-84116

UTU-84116

UTU-84116

UTU-84117UTU-84117UTU-84117

UTU-84120UTU-84120UTU-84120UTU-84121

UTU-84121

UTU-84121

UTU-84122UTU-84122UTU-84122UTU-84122 UTU-84123

UTU-84123UTU-84123UTU-84123

UTU-84124UTU-84124UTU-84124

UTU-84124

UTU-84125 UTU-84125 UTU-84125

UTU-84126

UTU-84126

UTU-84126UTU-84126

UTU-84126

UTU-84126

UTU-84127

UTU-84128

UTU-84128

UTU-84128

UTU-84128

Fee

Fee Fee

Fee

D&G Lyman

D&G Lyman

D&G Lyman

D&G Lyman

D&G Lyman

D&G Lyman

D&G Lyman

D&G Lyman

A&E Dalley

A&E Dalley

A&E Dalley

A&E Dalley

Williams Land Co.

ML-50542

ML-50543

ML-50543

ML-50543

ML-50544

ML-50544

ML-50544

ML-50545

ML-50546

ML-50547

LivestockClark

T. & A. Bauer, et al

T. & A. Bauer, et al

Carl & MarjorieEvans

UTU-82494

UTU-82494

UTU-82494

Clark Livestock

WilliamsLand Co.

7/20/15

8/9/15

7/5/15

7/5/15

7/5/15

7/5/15 7/5/15

7/5/15

7/5/15

7/5/15

7/5/15

7/5/15

7/5/15HBU 7/5/15

7/5/15

6/26/16

7/20/15

8/9/15

8/23/15

9/14/15

10/16/15

10/16/15

8/9/15

6/5/16

12/1/15

12/1/15

12/1/15

12/1/15

12/1/15

3/1/16

3/1/16

1/30/16

1/30/16

1/30/16

1/30/16

3/1/16

2/1/16

2/1/162/1/162/1/16

2/1/162/1/162/1/16

2/1/16 2/1/162/1/16

2/1/16

2/1/162/1/16

2/1/16

2/1/16

2/1/16

2/1/16

2/1/16

2/1/16

2/1/16

2/1/16

2/1/16

6/22/16

6/22/16

6/14/16 6/14/16

6/6/166/6/16

6/6/16

6/6/16

8/18/157/20/15

7/19/15 8/1/15 8/1/15

6/6/166/6/16

6/5/167/5/157/5/15

7/20/15

9/14/15

5/8/16-16

5/8/16-16

5/8/16-16

5/8/16-16

8/9/15

7-20-/15

7-20-/157-20-/15

7/16/15 8/25/15

12/1/16

12/1/16

12/1/16

12/1/16

12/1/16

12/1/16

5/18/16

5/18/16

5/8/16

5/8/16

7/5/15

7/5/15

6/23/16

6/23/16

2/29/16

2/29/16

2/29/16

8/20/15

30

135

26 4

98 10 12117

1418

131617 15

20 21242322

19

25262730 2829

353431 32

3633

4 356

12

9711

8 10 12

14151613

18 17

24232219 20 21

3025

292728 26

3133 3534

3236

25

31

64

9 11 1210

7 8

14 1315161718

202423

21 2219

2825

2927 26

30

3433 3532

3631

256

41

3

7

1210 11

8 9

14 13

18151617

2119

2420

2322

2629

2528

3027

3436

3331

3532

24

6 53

1

117

129 10

8

1614

1713

1518

1922

2024

2123

25

3027 26

29 28

34 3632 33 35

31

2 1

1211

14 13

2423

26 25

3635

634

15

2

12108 9 117

151613

1714

18

22 2320 21

2419

252830

262729

323634 35

3331

12356

4

91210

711

8

17 1513

1814

16

2023

21 2219

24

26272930 2825

3632 34

313533

124563

117 8 109

12

1416

13

18 1715

19

242220

2321

26 2528 272930

33 343236

3135

14

25

36

79 10 11 12

8

1715 13

1816

14

242019

222123

3026

2927 25

28

3432 33 35 3631

241356

91211

7108

1314161715

18

20 22 232124

19

2527282930

26

34 35 36333231

4 36 5

2 1

7

129 10

811

14 13

1815

17 16

19 20

2421

2322

282627

2930

25

31 3234

363533

2 1

1211

1314

23 24

2526

35 36

623

51

4

71110 12

98

14 1315

1817 16

2119 20

22 23 24

2928

30

27 26 25

3133 34

36

3235

2346 5 1

9 12111087

13141617 1518

2119 2422 2320

25262730 2829

35343336

31 32

2 14

635

1012

711

98

18

13151617

14

2123 24

19 2022

2826

2927

30

25

32 34 35 3631 33

2 13456

8 91211

710

13141617 1518

20 22 2321

2419

252627282930

32353433

3631

24 36 5

1

9811 12

710

13141617 15

18

20 22 232124

19

2530

27 2629 28

3432 3335 36

31

5 4 31

6

2

79

12118

10

18 17

131416 15

21 2220

23 24

19

2528

30

2629

27

31

3532

343336

2 1

1211

1314

2423

26 25

3635

235 46

1

8 912

107

11

1814

17 16 15 13

21 2219 20

2423

272830 29

2526

3633 34

3135

32

146

352

11912

107 8

1517 16 14 1318

2024

23

222119

30 28 272926 25

33 34 35 363231

26 5

341

9 1012

7

118

18 1715

1316

14

192120

22 23 24

28 2730 29

2526

33 34 35 36

3231

24 1356

9 1211

7108

131416171518

2022 23

2124

19

2530 27 2629 28

3432 33 35 3631

1

6 5 4 3 2

9 10 11 12

7 8

16 1517

13

18

14

24

2023

21 2219

3028

2527 26

29

323134 35 36

33

2 1

11 12

1314

23 24

26 25

3635

4 1236 5

1210 11987

1317 1618 15 14

2220 21 23 2419

2627 25282930

333532

3631 34

5234

6

1

1087

911 12

1715

13

1816

14

2023

1921 22

24

28 27 2629

25

31 3234 35

3336

1346

25

81110 12

79

131718

141516

21 2220

23 24

19

27282925

3026

3133 34

36

3235

52

6 341

7

129 10 11

8

1815

1714 13

16

2321

242019

22

282627

2930

25

32 3331

343635

21

1211

14 13

23 24

26 25

35 36

235 46

1

8 912

107

11

1814

17 16 1513

21 2219 20

2423

2728

30 292526

3633 34

3135

32

235 46

1

8 912

107

11

1814

17 16 15 13

21 2219 20

2423

272830 29

2526

3633 34

3135

32

13 24

117 8 109

12

15 141617

1318

2123 24

192220

292627

3028

25

32 33 34 35

31

36

56

T35S-11W

T34S-11W

T33S-11W

T32S-11W

T31S-11W

T35S-15W

T34S-15W T34S-13W

T35S-14W

T34S-14WT34S-12W

T33S-15W

T32S-15W

T33S-13W

T32S-13W

T31S-13W

T33S-14W

T32S-14W

T33S-12W

T32S-12W

T31S-12W

T35S-9W

T34S-9W

T33S-10W

T32S-10W

T31S-10W

T33S-9W

T32S-9W

T31S-9W

T34S-10W

T35S-10WT35S-13W T35S-12W

TIDEWATER OIL & GAS COMPANY, LLC

UTU-84296

NAE 45%4/1/16

TOG 55%

THIRD PARTY

THIRD PARTY

THIRD PARTYTHIRD PARTY

THIRD PARTYTHIRD PARTYTHIRD PARTY

THIRD PARTY THIRD PARTYTHIRD PARTY

THIRD PARTYTHIRD PARTY

THIRD PARTY

THIRD PARTY

THIRD PARTY

THIRD PARTY

THIRD PARTYTHIRD PARTY

THIRD PARTY

THIRD PARTY

3rd PARTY

THIRD PARTY

IRON COUNTY

MAP SCALE 1" = 5,280' November, 2013

PROSPECTSIRON COUNTY, UTAH

TIDEWATER LEASEHOLD

Virtus Oil & Gas Company

Location of the Parowan Prospect, 36,000 acre lease tract,Iron County, Utah

FIG. 3

pg. 9

Page 10: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

pg. 10

*(2/2*<�$1'�*(23+<6,&6�

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Page 11: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

Fig.4 Stratigraphic Column, Central Utah Area, showing prospective Navajo Sand Horizons and multiple deeper Prospective Carbonate Horizons.

0.7 m.y. Bishop Ash

volcaniclastics

Rees Flat area

gypsterous

red post-orogenic

Alluvium & colluvium

Moroni Formation

Flagstaff Limestone

North Horn Formation

Indianola Group

Cedar Mountain Formation

Twist Gulch Formation

Arapien Shale

Watton Canyon M

Boundary Ridge M

Rich Member

Sliderock Member

Gypsum Spring M

Franson Formation

Meade Peak Phosphoria

Grandeur Formation

Nugget Sandstone(Navajo)

Ankareh Formation

Thaynes Formation

Woodside Shale

Diamond Creek Sandstone

Kirkman Limestone

Oquirrh GroupUndivided

Manning Canyon Shale

Great Blue Limestone

Humbug Formation

Deseret Limestone

Gardison Limestone

Fitchville Formation 230

300

800

700

900+

1000+

12,000?

130-170

330-800

600

160

430

200-1200?

800-1300

900

1400

10

50-80

100-200

100

100

2000+

500

600

0-50+

0-600

0-50

0-800

0-5000

ParkCity

Group

TwinCreek

Limestone

300'–600'

Twin Creek Limestone

3,000' Mississippian &

Devonian carbonates

(like Canadian Thrust

Salient production)

1,200'–1,500'

Navajo Sandstone

100'–150'

Thaynes Limestone

1,200' Phosphoria

equivalent carbonates

800' Diamond Creek

Sandstone

Up to 7,000' of

reservoir rock

TRIA

SSIC

JURA

SSIC

PERM

IAN

PEN

NSY

LVAN

IAN

MIS

SISS

IPPI

AND

*T*

Q*

C*

Q* Quaternary T* Tertiary C* Cretassic D* Devonian

Angular Unconformity

intensely contorted

???

Mt. Nebo crest

bumps & landsides

thin-bedded

cherty phosphatic memberof Phosphoria Formation

Triassic-Jurassic rocks aregenerally attenuated near the Nebo Thrust where theyare not as thick as listed here

Page 12: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

Contour of the Thickness of the Navajo Sandstone

FIG. 5

UTAH

114° W 113° W 112° W 111° W 110° W 109° W 108° W 107° W 106° W

44° N

45° N

43° N

42° N

41° N

40° N

39° N

38° N

37° N

36° N

35° NARIZONA NEW MEXICO

COLORADO

WYOMINGIDAHO

1002505001000

15002000

100250

500100015002000

Navajo Sandstone play

NAVAJO

NUGGET

Paleowind generally from the north and northwest. Contours are in feet.From Chidsey, T.C., Laine,M.D., Vrona, J.P., and Strickland, D.K. (2007)

Navajo/Nugget SandstonePrecambrian outcrop

Navajo Sandstone playPaleowind

Page 13: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

pg. 13

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Map of Utah Showing Prospective AreasAlong the Overthrust Front

FIG. 6

Prospective Areas & Oil / Gas Fields

MILES

KM0 40

0 25

GreatSaltLake

UtahLake

BearLake

LINCOLN

UINTA

UTA

H

RICHCACHEBOX ELDER

TOOELE

WYOMING

UTAH

DUCHESNE

CARBON

EMERYMILLARD

JUAB

SANPETE

SEVIER

WAYNE

GARFIELD

PIUTE

WEBER

MORGAN

SUMMITSALTLAKE

WASATCH

UTAH

DAVIS

GRAND

SaltLakeCity

Nephi

Salina

5LFKˉHOG

Anomalous Areabased on Canadian

Overthrust shown above

Covenant Field

Lead

ing

Edge

Bev

ier Thrust B

elt

OVERTHRUST FIELDHogback RidgeCarter CreekWhitney CanyonRyckman CreekClear CreekPainter ReservoirYellow CreekAnschultz RanchesPineviewElkhornLodgepole

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Cedar Valley Area, Parowan Prospect LocationFIG. 7

UTAH

Ced

ar V

alle

y

Colorado

PlateauTransitionZone

Indiand PeakCalderaComplex

I r o n Ax i s

V o l c a n i c F i e l d

Marysvale

HarmonyMountains

Pine ValleyMountains

B A S I N A N D R A N G E

CaloniaCalderaComplex

pg. 15

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pg. 16

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Page 17: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

Virtus Oil & Gas Company

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Location of Parowan Prospect Relative toChainman Shale Source Rock

FIG. 10

UTAHAR

IZO

NA

NEW

MEX

ICO

COLO

RAD

O

WYOMINGIDAHO

2000

Parowan Valley Prospect Area

SEVIERARCH

NEV

ADA

Covenant Oil Field

150010

00

500

500

DOUGHNUTFORMATION

CHAINMANSHALE

MANNINGCANYON

SHALE

AMSDENFORMATION

BRAZER FORMATION

Mississippian undifferentiated

Delta

VernalProvo

SaltLakeCity

Wendover

UINTA MOUNTAINS

Oquirrh Basin Outline

UTA

H

Thickness and Distribution of Manning Canyon Shale,Doughnut Formation, and Chainman Shale

Thickness of Manning Canyon Shale and correlative formation

Charleston-NeboThrust Fault500

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pg. 19

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Combined Hydrocarbon Show Map and Ethane/PropaneSoil Gas Relative to Parowan Prospect

FIG. 11

Virtus Oil & Gas Company

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pg. 21

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Page 23: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

Structure on Jurassic Navajo Sandstone, Covenant Oil Field, Central Utah.

FIG. 13

Source: Moulton and Pinnell (2005)

Wolverine discovery wellProposed bottomhole location, directional well

Well location on 160-acre spacing

MILES

KM0 3.2

0 2

UTAH

Show wells

Annabella

5LFKˉHOG

Sevie

r Rive

r

5RFN\�)RUGReservoir

Canal

A'

A

2½ w

22s

23s

24s

25s

1w2w

1w2w3w

Water?

Oil?

Cross section

–600

'–4

00'

–200

'0' 20

0'40

0'

Wolverine Unit

boundary

US Forest

Service

boundary

S E V I E RC O U N T Y

*OHQZRRG

Contour interval 200 ft

Source: Wolverine handout at NAPE Prospect Expo; Utah Divison of Oil, Gas & Mining, and IHS Energy 10-18-2004. Base map from US Geological Survey. Map and geology by Floyd Moulton.

70

WolverineGas & Oil

“Kings Meadow Ranches” field

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pg. 24

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Page 25: Final Version Geology Reportcontent.stockpr.com/virtusoilandgas/files/documents/geology_report.pdfGhost Morley Jumping Pound West Jumping Pound-Wildcat Hills Moose Mountain Sarcee

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