David E. Hoyt

CEO & President

Oleum Scientia Group, LLC

*** ******* **** *****

Suite 215

Sparks, Nevada 89434

Cellular: +1-805-***-****

ad4rd0@r.postjobfree.com

Overview

As the CEO and President of Oleum Scientia Group, LLC, a Houston-based oil and gas reservoir assessment, risk management, and valuation firm, I leveraged my experience and expertise in geosciences, reservoir engineering, and upstream business development to provide quality consulting services to domestic and international clients. I have a proven track record of delivering innovative and effective solutions for complex, multi-layered, offshore, and onshore oil and gas fields, including conventional, unconventional, and hybrid resource plays.

My core competencies include sedimentology, sequence stratigraphy, reservoir characterization and simulation, static and dynamic geocellular modeling, basin architecture, and depositional systems analysis. I am skilled in project organization, management, and development, as well as economic analysis and reporting. I hold professional licenses in Texas, Wyoming, and Louisiana. I am proficient in Petrel static and dynamic geomodelling, Petrophysics, and OFM software.

I have managed and led geoscience teams applying advanced interpretation, and innovative geomodelling techniques which resulted in reserve optimization. For example, during my tenure in Kuwait, I co-developed the Petrel dynamic geomodelling for the Raudhatain and Sabriyah oil fields, super-giant fields in the Middle East, with a focus on advising the Kuwait Geoscience am Management teams on the design, drilling, and completion of new horizontal wells into the Lower and Upper Zubair Fm.

I am a talented communicator who uses a team leadership approach and persuasive negotiating skills. My mission remains to continue to build and manage a highly profitable and reputable international consulting business that meets and exceeds the needs and expectations of our clients.

Domestic and International Professional Experience - Emphasis on Results

President and CEO, The Oleum Group, LLC

Houston, Texas - OVERVIEW

2012-Present

The Oleum Scientia Group, LLC is a Houston-based reservoir management and acquisition firm specializing in the identification of off-market, undervalued, conventional and unconventional oil and gas assets with emphasis in domestic US markets. The company conducts top-down oil and gas asset audits and advanced reservoir management studies to identify geoscience and subsurface engineering strategies to optimize production, operational cost efficiency, increase cash flow and profitability.

2005-2008: Amplify Energy Corp. Beta Oil and Gas, Offshore California

Senior Geoscience Advisor - Reservoir Characterization, Assessment, and Reserve Optimization

Authored and managed the Petrel Petrophysical Dynamic Geomodelling of the Federal Offshore Beta Field, Long Beach, Ca. Results included sedimentology, stratigraphy, structure including cojoined 2D & 3D seismic with focus on petrophysics of the lithofacies of Beta Field. I authored the design of the drilling, completion risk, reserves (EUR), and the estimated rates production (IP) of multiple horizontal wells.

The design of multiple horizontal wells penetrating the drained and undrained reservoirs is taking place to-date

2012-2017: Quantum Reservoir Impact, LLC (QRI):

Kuwait (KOC): Senior Advisor - Geomodelling & Reservoir Characterization, and Reserve Optimization

As a senior advisor in Geoscience and Reservoir Characterization, I was a member of the QRI Team of Geologists, Geophysicists, Petrophysicists, and Reservoir and Drilling Engineers. I was principally responsible for sedimentology, stratigraphy, structure focus on the design and planning of horizontal wells utilizing Petrel dynamic geomodelling, pore pressure analysis, and seal characterization of the Zubair Fm. for all wells being drilled into the Lower & Upper Zubair Fm. in Raudhatain and Sabriyah fields, super-giants in onshore Kuwait.

Toward the completion of the QRI contract in early 2017, I authored and proposed a +2-mile horizontal well in Upper Zubair Fm, having a reservoir thickness of less than ~30 ft. This horizontal well was completed for an open flow test of +11,000 BOPD, a significant producer. Post production estimates from QRI, this well is still producing at a rate of in excess of 6,000 BOPD. Additional horizontal wells, designed and planned under my tenure utilizing Petrel geomodelling are being drilled into the Lower & Upper Zubair Fm. to date.

2014: Quantum Reservoir Impact LLC, (QRI)

Houston, Texas - Senior Advisor, Geosciences

Energy 21 GOM Brownfield Assessment – Merger and Acquisition

Assessment for the Merger & Acquisition of Energy 21 GOM assets pertinent to the geological and geophysical aspects with emphasis on the +20,000 BOE/D approximately 53% of oil. The properties included nine fields in water depths of 470 ft. and the sale of 130,853 net acres. Energy 21 paid ExxonMobil $1.01 billion for their assets in 2010. In 2014, QRI’s assessment of the assets was determined to be uneconomic. Energy 21 was acquired by Cox Oil for $322 million in 2018.

2014: Quantum Reservoir Impact LLC, (QRI)

Houston, Texas – Geoscience Director, Petrel Geomodelling & Reservoir Characterization

QRI Professional Geoscience Team

East Texas Woodbine-Eagle Ford Exploration and Development Project

Managed the QRI geoscience team consulting for ZTC China, in designing a Petrel dynamic exploration Geomodel with emphasis on petrophysics and stratigraphy. At the conclusion, the project was presented to ZTC China by the QRI team members. Results included ZTC’s approval together with a payment of $11 million to QRI. Additionally, ZTC approved and covered for drilling three exploratory horizontal wells, all drilled and commercially completed.

2016: Quantum Reservoir Impact LLC, (QRI)

Sultanate of Oman – Senior Geoscience Advisor (Sabbatical)

Managed the Omani Geoscience Team of their Reservoir Characterization & Geomodelling of Neoproterozoic Ediacaran reservoirs. The Ediacaran reservoirs comprising Khufai and the overlying Buah formations (750 Ma), unconventional reservoirs, characterized as ‘rafts’ of dolomitized carbonates encased in Precambrian evaporates and charged with hydrocarbons. The Peer Review resulted in identifying the upper member of the Khufai Fm. containing a commercial reservoir of “carbonate grainstones” or “oolitiic banks.” The geoscience work, conducted by the Peer Review and the Omani Geoscience teams, was based on examining multiple cores, selected outcrops and constructing stratigraphic cross sections.

2017: Quantum Reservoir Impact LLC, (QRI)

Ciudad Del Carmen & Villahermosa, Mexico – QRI Peer Review Team, Pemex Onshore & GOM Offshore

Senior Advisor – Geomodelling & Reservoir Characterization, Drilling and Reserve Assessment & Optimization

QRI contracted to Pemex in 2011 through 2018 assisting Pemex with advanced drilling and completion operations, reservoir engineering enhancements and advancements in dynamic geomodelling, including offshore fields, Cantrell & KMZ GOM, and the onshore fields, Chicontepec, and Bermudez. As a result in-part, Pemex drilled the country’s largest light oil (45 ) discovery in three decades, estimated to contain 500 million BOE. The Quesqui Oil Field is located in the Southeast Basin, State of Tabasco, Mexico.

Chief Geologist-Geophysicist, Warren Resources Inc., Warren E&P LLC, Long Beach, California

2005-2008: Chief Geologist Offshore Southern California: Brownfield Exploitation, Development and Operations

Onshore-Offshore Wilmington, Huntington, and Beta fields

Designed and implemented a three-year strategic development plan in two western units of the giant Wilmington Oil Field. Directed the geoscience team in the design and reservoir targeting of multiple horizontal and HD well trajectories together with anti-collision analytics. Coordinated the Schlumberger and Halliburton geosteering teams involving both horizontal and sinusoidal wells. Led drilling and development program driving revenues from $10 million per year to over $100 million per year. Incremental production gains increased from 760 BOPD to over 3700 BOPD in a two-year period yielding a BOE reserve of more than 50 million BOE.

Partner, B&H Energy Partners, LLC

2012-2015: Santa Barbara & Houston, Texas – Geoscience Director

Principal in E&P firm having over 15,000 net acres under lease in the San Joaquin Basin, prospective for oil in the Monterey, Antelope, Kreyenhagen and Moreno hybrid resource plays and in conventional seismically delineated prospects. Closed the purchase and sale of Kern Co., California Antelope Shale (Monterey Fm.) resource play, approximately 1200 net acres, to Kerogen Exploration for $1.32 million.

Vice President of Exploration & Development; Corporate Director, Underground Energy, Inc.

2010-2012: Santa Barbara, California

Built a publicly listed E&P company focused on the Monterey Shale hybrid-resource play and other emerging shale resource plays in the Western US. Business Development centered on the identification of UGE’s acquisition of Panther Energy, Inc.’s southern California assets in 1st Qtr. 2010, acquiring more than 70,000 net acres of conventional and unconventional producing, development and exploration properties in California and Nevada.

Major Professional Experience

1976-2004

Atlantic Richfield Corporation – Senior Geologist/Geophysicist

Geoscience Division, Dallas Texas

California Onshore, Bakersfield, California

OCS Exploration & Development Division, Anchorage, Alaska

Phillips/Aminoil Petroleum Corporation – Senior Geologist/Geophysicist

Texas Oil and Gas Corp.

Chief Geologist Western US and Alaska, Dallas, Texas

Onshore California, Geoscience Manager, Sacramento, California

Nuevo Energy Company, Private Placement Acquisitional Project, Los Angeles, Ca. and Houston, Tx.

Senior Level Technical Consulting

Provided expert geoscience and reservoir engineering consulting services to a diverse portfolio of energy companies, enhancing exploration, development, and production strategies through advanced technical analyses and insights.

AmRich Energy LLC, Houston, TX

BreitBurn Energy, LLC, Los ángeles, CA

Clayton Williams Energy, Inc., Midland, TX

Foothill Energy, LLC, Houston, TX

Matrix Oil Corporation, Santa Barbara, CA

Nuevo Energy, Inc., Houston, TX

Occidental Petroleum Corp., Bakersfield, CA

Pacific Energy Resources, Inc., Long Beach, CA

Reunion Resources, Inc., Houston, TX

Santa Barbara Resources, Inc., Santa Barbara, CA

Slawson Exploration Company, Denver, CO

Tri-Union Development Corporation, Houston, TX

Venoco Inc., Denver, CO

Florida Oil & Gas Corp.

Education

The University of Texas at Dallas

Master of Geoscience – MS, Geosciences: Sedimentology, Stratigraphy, Structure and Geophysics · (1971 - 1974)

The University of Texas at Arlington

BS, Geology · Applied Science (1967 - 1971)

Publications

Hoyt, D.E., Pitcher, J., 2008, “Improving Recovery with Advanced Formation Evaluation and Well Placement Techniques in Thinly Laminated Sand-Shale Reservoirs”, OMC (Offshore Mediterranean Conference), Ravenna, Italy, March 2009, 16 pages.

Scholle, P. A., contributor Hoyt, D. E., 1979, A Color Illustrated Guide to Constituents, Textures, Cements, and Porosities of Sandstones and Associated Rocks: Tulsa, OK, American Association of Petroleum Geologists Memoir 28, 201 p.

Scholle, P. A. and Hoyt, D. E., 1974, Quartz grain surface textures from various source rocks [abs.]: Oklahoma Geology Notes, v. 34, p. 36-37.

Hoyt, D. E. and Scholle, P. A., 1974, Paleogeographic Interpretation of the Palmetto Complex, Ordovician of southwest Nevada [abs.]: Geological Society of America, Abstracts with Programs, v. 6 (5), p. 449.

Scholle, P. A. and Hoyt, D. E., 1973, Quartz grain surface textures from various source rocks [abs.]: Geological Society of America, Abstracts with Programs, v. 5 (7), p. 797-798

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