|
NEWLY ACQUIRED OVERRIDING ROYALTY INTERESTS
|
Area |
Concession Holder |
Gross Acres |
Percentage of 1% of Gross
Production |
Net Royalty Acres |
Blocks |
|
BASS STRAIT |
|
|
|
|
|
|
VIC/P45 |
APACHE ENERGY LTD |
214,896 |
7.5% |
856 |
12 |
|
VIC/P53 |
CUE/MOBY/EXOIL |
182,858 |
5% |
731 |
11 |
|
VIC/P54 |
APACHE ENERGY LTD |
155,676 |
5% |
623 |
11 |
|
COOPER-EROMANGA
|
|
|
|
|
|
|
PEL 86 |
VICTORIA PETROLEUM |
1,066,000 |
10% |
8,528 |
56 |
|
PEL 87 |
VICTORIA PETROLEUM |
1,066,000 |
10% |
8,528 |
56 |
|
PEL 88 |
COOPER ENERGY |
1,230,000 |
30% |
29,520 |
64 |
|
PEL 89 |
VICTORIA PETROLEUM |
1,208,000 |
10% |
9,664 |
65.65 |
|
PEL 111 |
VICTORIA PETROLEUM |
292,819 |
10% |
2,343 |
56 |
|
PEL 115 |
VICTORIA PETROLEUM |
273,297 |
10% |
2,186 |
56 |
|
|
TOTAL |
5,689,546 |
|
63,407 |
310.65 |
|
WORKING INTEREST
HOLDINGS
|
Area |
Concession Holder |
Gross Acres |
Percentage of
Working Interest |
Net WI Acres |
Blocks |
|
ATP 582 |
ACOR |
6,716,000 |
100% |
6,716,000 |
365 |
|
PEL 108 |
HOLLOMAN |
506,811 |
16.6665% * |
210,327 |
27.5 |
|
PEL 109 |
HOLLOMAN |
373,633 |
16.6665% * |
155,058 |
20 |
|
PEL 112 |
HOLLOMAN |
818,904 |
16.6665% * |
339,845 |
44.5 |
|
VIC/P60 |
ACOR/HOLLOMAN |
339,769 |
25% |
84,942 |
24 |
| |
TOTAL |
8,561,007 |
|
7,424,143 |
489 |
*
ACOR owns
16.6665% Carried WI through the first 3 wells under PELs 108,
109, & 112. This includes the 2.834% carried working interest
held by the 3 stockholders who paid ACOR’s half of the costs for
new seismic.
PRODUCING OVERRIDING ROYALTY INTERESTS
|
The
following table shows the 2,263,200 gross acres under which ACOR holds
producing overriding royalty interests. The table sets forth the ATP number of
each Australian concession in which ACOR held an ORRI as of January
1, 2004
(date of title searches on the properties), and upon which productive wells had
been drilled, the percentage interest of the Company therein, the number of such
wells, the gross acreage in each concession, the net royalty acres and the
number of blocks held in each concession.
|
|
Area & # of Wells |
Concession
Holder |
Gross
Acres |
Percentage
of 1% of Gross Production |
Net
Royalty
Acres |
Blocks |
|
PEL 115-5 Wells |
Victoria Petroleum |
273,297 |
10% |
2,186 |
56 |
| 267-21 Wells |
Santos/Megellan |
220,800 |
17.15% |
3,029 |
12 |
|
299-73 Wells |
Santos/Drillsearch |
441,600 |
05.75% |
2,031 |
24 |
| 543P-1 Well |
Santos/ Innamincka Petroleum |
956,800 |
25.00% |
19,136 |
52 |
| 560-3 Wells |
Lakes Oil/Victoria Pet/Icon Oil |
625,600 |
25.00% |
12,512 |
34 |
| Patchawarra SW |
Santos Producing Block |
18,400 |
06.25% |
92 |
1 |
Non-Producing Overriding Royalty Interests
The following table sets forth the undeveloped acreage in
which the Company
held an ORRI in Australia as of January 1,
2004, the date of the title searches
on the Queensland
properties.
|
Area |
Concession Holder |
Gross Acres |
Percentage of 1%
of Gross Production |
Net Royalty Acres |
Blocks |
| |
|
|
|
|
|
| 544 |
Australian Petroleum Industries Pty. Ltd |
901,600 |
08.08% |
5,828 |
49 |
| 550 |
Discovery Geo (AUSTRALIA) Corporation |
276,000 |
25.00% |
5,520 |
15 |
| 554 |
Dyad Australia, Inc. |
110,400 |
25.00% |
2,208 |
6 |
| 582 |
ACOR |
6,716,000 |
67.10% |
360,515 |
365 |
| 616
(820P) |
Santos |
147,200 |
333.33% |
39,523 |
8 |
| VIC/P45 |
Apache |
214,000 |
7.5% |
856 |
11.63 |
|
|
|
