Joint Resources Company Information

Joint Resources Company (“JRC”) is a privately owned exploration, operating, production & mineral acquisition co. engaged in the acquisition, development & production of oil & gas properties. JRC has drilled, completed, re-completed, operated & managed over 375 wells. Since the early 2000s JRC has concentrated on the development of both unconventional & conventional reserves. This focus progressed into the drilling & completing of approximately 150 Barnett Shale wells, both vertical & horizontal. The result of this venture led to five (5) major profitable sales of JRC assets being: I. 2006 Barnett Shale sale to Stroud Energy (merging into Range Resources) II. 2007 Barnett sale to XTO Energy III. Late 2007 Fayetteville sale to XTO Energy & Carrizo (with retained ORRI & acreage) IV. 2009 Barnett sale to EOG Resources (with retained shallow rights) V. 2010 sale of Eagle Ford Leases to Chesapeake (with retained ORRI & acreage) JRC wells have consistently outperformed most offset operators both large & small. In 2010, JRC along with a strategic partner decided to evolve its model & focus to acquiring ranches (74,616 surface, & 44,215 mineral/royalty ranch acres) with surface, mineral, water & wind rights. In addition, it has owned & operated pipeline systems & service companies. In 2015, JRC entered the Permian Basin & initiated development of its acreage position on the Central Basin Platform targeting the San Andres. JRC drilled & completed 12 horizontal wells until bringing its program to a halt due to the oil market downturn. Since 2018, JRC has been focused on generating & evaluating prospect leads for future development or as leasehold acquisition opportunities, while continuing it's conventional well program in North-Central Texas & Northern Panhandle. JRC’s current focus is on evaluating drilling prospects while enhancing the company’s current assets in targeted core areas in North Texas, Eastern Shelf, & Panhandle Regions.