BEXP Update: Of Note -- Two Fully Dedicated Frac Crews for 5 Rigs

BEXP Conference Call Transcript, August 6, 2010

BEXP Conference Call, August 4, 2010, slides
 
August 3, 2010, press release:

Added another 52,800 net acres; now totals ~ 358,000 net acres in Williston Basin

• Core acreage expanded by an estimated 34,000 net acres; primarily around Rough rider area

New wells

• Completed Rogney 17-8 1H, its first Bakken well in eastern Montana, 909; currently flowing at 400
• Completed the Michael Owan 26-35 1H, 2,931, 33 frac stages
• Completed the Sedlacek Trust 33-4 1, 2,695, 30 frac stages
• Small working interest in Zenergy's Luke Sweetman, 1,201

Rough Rider Area: Williams and McKenzie Counties

Fracking is still the chokepoint (and yes, that is the correct spelling)

• Access to an incremental 50% of a frac crew is expected soon; pace of BEXP operated completions is expected to accelerate.
• By end of year/early next year, access to an additional 50% of a frac crew and then BEXP will have two fully dedicated frac crews fracking BEXP operated wells at all times.

Operator of choice?
Bud Brigham, CEO, on his successful long lateral high frac stage drilling formula: "[that formula] has delivered 28 consecutive high production rate North Dakota Bakken and Three Forks wells at an average early 24-hour peak rate of 2,659 boepd."

Comments from the Conference Call, August 4, 2010

• Four rigs require one (1) fracking crew. Therefore, BEXP is well positioned to have two dedicated fracking crews -- all that is necessary -- for the eight (8) rigs they should have next year
• 60 days: time from spud to first oil sale