BASIC CRUDE OIL CHARATERISTICS (OFR-467)

Covenant field was discovered in 2004 by Michigan-based Wolverine Oil & Gas
Company, with the completion in the Jurassic Navajo Sandstone of the No. 17-1 Kings
Meadow Ranches well (SE1/4NW1/4 section 17, T. 23 S., R. 1 W., Salt Lake Baseline
and Meridian), Sevier County, Utah. The Covenant trap is an elongate, symmetric,
northeast-trending anticline. The Navajo in the 17-1 well is repeated due to a detachment
within the structure. Only the upper Navajo is productive containing a 487-foot oil
column (Douglas Strickland, Wolverine Oil & Gas Company, verbal communication,
2005).
In the 17-1 Kings Meadow Ranches well, the initial flowing potential was 708
bbls of oil and 20 bbls of water per day; there was essentially no gas production.
Cumulative production as of August 1, 2005, was 334,391 bbls of oil and 30,201 bbls of
water (Utah Division of Oil, Gas and Mining, 2005).
A sample of crude oil, produced from the 17-1 Kings Meadow Ranches well, was
collected by the Utah Geological Survey and analyzed by Baseline DGSI. This report
contains the basic oil characteristics (API gravity, viscosity, pour point, and sulfur and
nitrogen content) of the analyzed oil. The report also includes raw, uninterpreted,
isotopic and biomarker (whole oil and saturate gas chromatograph) data derived from the
oil sample.