$7MM Development Project with ~45% IRR

National Oil is seeking approximately $7 million of acquisition and development capital with the intent to complete the acquisition and improvement of nine upstream oil and gas properties located
in Kern County, CA (the “Project”):
- National desires to acquire existing oil and gas production through 10 separate oil fields in Kern County, CA
- Net cash flow will provide the additional $5+ million of capital needed for further improvements to the Project
Each property consists of primary production with minor thermal EOR opportunities, infield development of conventional 16- 37° gravity oil & gas will supply natural gas fueled Bitcoin Mining as an additional income stream
- These are long-lived properties and with 20+ years of commercial production at forecasted prices
- National management team is seasoned with a proven track record of operational improvements using a mix today's technology with tried-and-true oil and gas experience
- The National team has more than 75 years of successful production and development experience in California on behalf
of investors, clients and industry partners
- Each property is in well-known oil and gas fields, within the limits of known prolific oil sand reservoirs
- Reservoirs are proven, and consistently generate high quality, easy to produce light gravity oil and rich gas
- The Project is anticipated to generate an IRR of ~45% driven by very low lifting costs
- In addition to the two phases (Acquisition & RTP), National has identified behind pipe oil sand to add perforations for significant growth potential beyond the existing acquisition plan
- Current production is 290 BOPD (24 mo average) and after the RTP plan is complete in 22 months, production expected to be more than 500 BOPD with average yearly decline estimated at 2%