North Dakota

   
On June 27th, 2017, The Company signed a Farmout Agreement for the acquisition of rights in ten oil fields in North Dakota, USA.
Asset North Dakota

 Partners (On average, out of 100%)

58.28% - Israel Opportunity Energy Resources, LP

23.5% - Thurston Energy Investments 2, LLC

9.4% - Radian Partners, LLC (current)*

6% - different local shareholders

2.82% - Cyprus Opportunity Energy Inc.**

*Radian Partners, LLC holds options to increase its share to a
maximum of 18.8% (on average) on account of Israel Opportunity’s share. All options expire by end of 2018.
**100% owned by a subsidiary of the Partnership.

Area 

The acquired rights’ area contains 10 sections, each approximately 640 acres, in a total area of approximately 6,400 acres.
  

  Location

North Dakota, USA.
  

 Operator 

Thurston Energy Investments 2, LLC
  

 Prospects


Re-entry into two existing wells, "Paradox 34-31" and "Paradox 11-30", began on August 2nd, 2017 and was completed successfully. 

On September 16th, 2017, the "Fracking" phase was successfully completed, which included the introduction of a mixture of water, sand and chemicals into the wells to optimize production from the wells until the wells were ready for production.
The forecast for stabilization of production from the wells is several months.

On October 11th, 2017, the production stage at "Paradox 34-31" began and on October 29th, 2017, the production stage at "Paradox11-30" began. The production stage initials with production of oil along with the liquids which were injected during the Fracking stage.

Since beginning of the production and up to the publication of the Q3 Financial Statements (November 27th, 2017), ~10,000 barrels of oil have been produced from the wells (for 100%)*.

CPR by NSAI estimates Contingent Resources of about 10,671 MBBL oil and 24,544 MMCF of natural gas (Best Estimate, 2C) for 100% before development. 

*It is hereby clarified that nothing in this information to ensure the stabilization of the production from the Wells, the quantities of oil that can be produced in the future from the Wells, the length of time the Wells will produce oil and the production rate, in case the oil will be produced and the profitability of the Wells. In addition, the information detailed above regarding operations and timetables for carrying out the various operations constitutes forward-looking information that is not certain and is based on estimates and assumptions received from the project operator. These actions and timetables are professional estimates and assumptions for which there is no certainty and which may be updated as the stage of production progresses and / or as a result of a range of factorsrelated to exploration and production of oil and natural gas, including as a result of operational conditions and / or market conditions And / or regulatory conditions.