Summerbrooke Estates HA

MINERAL RIGHTS UPDATE

Feb 22, 2009

There are four wells in place?— two include our unit. Two have been ?“fracked,?” but none are producing because Chesapeake has been awaiting permits for top line compression. There is progress, however, because they are close enough to establish a timeline?—but keep in mind that it is very tentative due to the nature of the business. Chesapeake bought 130 acres east of YMCA to use for the compressors and it appears that the permits and easements for the required pipeline are in place. They hope to be pumping by May.
The plan is to drill another well in April, then three more by the end of the year. There could eventually be 15-20 wells at the initial site, about 4-6 in our unit.