1. Review prospect
data

2. Prepare geology and maps

3. Check courthouse for available acreage

4. Negotiate with mineral owner for lease

5. check title
on lease

6. Pay off on lease

7. Engineering, planning, negotiate service
contracts

8 Prepare private placement memorandum

9. Investment made in well

10. Obtain regulatory
permits

11. Pay surface damages

12. Stake location

13. Prepare location

14. Drill well

15. Log the well

16. Run casing and cement in place

17. Perforate casing

18. Stimulate well; acidize

19. Fracturing
(if needed)

20. Test well

21. Set production facilities

22. Lay gas gathering lines or set tank batteries

23. File paperwork with government agencies

24. Begin oil / gas sales

25. Bring abstracts up to date

26. Attorney prepares division order / title opinion

27. Forward title opinion to oil / gas purchaser

28. Purchaser prepares division order

29. Division order mailed to Pangea Exploration, LLC

30. Pangea Exploration signs division order and returns to purchaser

31. Purchaser schedules for payment

32. Pangea Exploration receives payment from purchaser & deducts expenses

33. Pangea Exploration pays investor