$STSC East Ciumeghiu!!!

East Ciumeghiu Field is one of six existing oil and gas concessions and leases covering approximately 120,000 acres in Romania. The company plans to drill one new well in each of three fields (Cozieni, East Ciumeghiu, and Calinesti Fields). A summary of East Ciumeghiu Field is as follows:

Size/area: 800 acres

Average net pay: 15 to 20 feet

Depth: 4,500 feet

Proven reserves: 1 BCF

Probable/Possible reserves: 4 BCF

Total reserves: 5 BCF

Expected initial daily production per well: 1,200 MCFGPD


Working interest:

Net revenue interest:


80%

64%

Expected drilling costs (1 well @ $1,000,000): $800,000 (80%)