Petro Harvester LLC Enters The Bakken -- North Dakota, USA -- CEO, Founder/Former CEO of Denbury

Petro Harvester was listed in today's NDIC daily activity report assuming Sagebrush wells in Renville County, North Dakota. It is my impression that the wells are all Madison wells.

Petro Harvester LLC was launched in October, 2010.

HOUSTON - October 13, 2010 - TPG Capital ("TPG"), a leading global private investment firm, said today it has formed a new venture, Petro Harvester Oil & Gas, LLC, to invest in oil and gas producing properties in North America. TPG expects the company will acquire substantial exploration and production ("E&P") assets over the next several years. Petro Harvester Oil & Gas ("Harvester") will initially focus on conventional E&P assets where it believes there are opportunities to drive increased production through operational focus.

In February, 2011, Petro Harvester LLC acquired Sagebrush assets in Renville County, North Dakota. Renville County is west of Bottineau County (think Spearfish formation) and north of Williams and Mountrail Counties; it borders the Canadian border.

HOUSTON - February 14, 2011 - Petro Harvester Oil & Gas, LLC, an exploration and production company formed by TPG Capital to acquire mature oil and gas producing assets, today announced that it has acquired long-life oil properties located in the Williston Basin of North Dakota from a private seller. The acquisition includes 170 wells in 24 producing fields and approximately 35,000 gross acres. Petro Harvester also announced it will open an office in Denver, Colorado.

Here are a few data points about Petro Harvester LLC:

• The CEO: Gareth Roberts, the former co-chairman and CEO of Denbury Resources, the firm he founded in 1990. Mr. Roberts has more than 30 years of experience in the exploration and development of oil and natural gas properties with Texaco, Inc., Murphy Oil Corporation and Coho Resources, Inc.
• COO: Jim Sinclair. Mr Sinclair served as Vice President of Exploration and Geosciences at Denbury Resources.
• Their operations are located in two regions: along the Gulf Coast (where they have most of their experience) and Williston Basin.

This is from their website regarding their operations in Williston Basin:

In January 2011, Petro Harvester acquired a package of producing properties in the Williston Basin. The assets include production and acreage in over 20 fields with most of the current value in four concentrated areas where we have high working interests and operational controls. The acquisition includes interest in 145 wells that produce from depths of 3,000 feet to 6,000 feet. Current production is approximately 2,000 barrels of oil equivalent per day. Identified opportunities include infill drilling, new water flood and enhancement of existing floods, and multilateral drilling. Additional upside potential includes deeper tests, enhanced fracturing techniques, and field extension through 3-D seismic.

The Sagebrush acquisition appears to be all Madison wells in Renville County.