Citrus Energy Marcellus and Utica Shale

MARCELLUS AND UTICA SHALE
Leasehold and Unleased Mineral Interests
Western Pennsylvania and New York

MARCELLUS SHALE
Non-Producing Leasehold Interests
Armstrong, Clarion, Forest, Indiana, Jefferson and Tioga Counties, Pennsylvania

• 4,375 gross acres / 4,363 net acres of leasehold for purchase
  • 100% working interest / 80%+ net revenue interest
  • Lease expirations in 2013 with majority of leases containing 2–3 year extension options
  • Consolidated acreage blocks in six prospective areas
  • Multiple target formations
  • Encouraging results from regional drilling activity
  • Area lease bonuses range from $1,000 - $3,000 per acre
    

UTICA/MARCELLUS SHALE
Unleased Non-Producing Mineral Interests
Alleghany and Cattaraugus Counties, New York
McKean and Venango Counties, Pennsylvania

• 3,598 gross acres / 3,217 net acres for purchase
  • Existing ORRI obligation of 1.5%
  • Mineral tracts located along Tennessee interstate pipeline and National Fuel Gas gathering system
  • Located in active leasing, permitting and drilling area
  • Lease bonuses in area being offered in $1,500 - $3,300 range