Brundage Canyon

Brundage Canyon is an exploration and development project that targets oil zones in the Green River-Wasatch formations and gas zones in the Garden Gulch formation, all at depths from 3200’ to 7500’. The Exploration and Development Agreement (EDA) is between the Ute Indian Tribe, as mineral owner, and UTE/FNR LLC, as Operator, which grants UTE/FNR the exclusive right to explore, develop and market oil and gas from approximately 19,000 acres of the Uintah and Ouray Reservation, all located in Duchesne County, Utah. The Ute Tribe has a membership interest in Ute/FNR and assigned its interest in Ute/FNR to its affiliate Ute Energy in May of 2005

The drilling program in Brundage Canyon has created a comprehensive and widespread infrastructure of roads, gas gathering systems and associated compression and gas processing sites. This existing infrastructure was designed to handle the anticipated oil and gas production. Ute Energy also has the right to propose wells, pursuant to the specific terms of the EDA.

Lake Canyon

Lake Canyon is an exploration project comprised of approximately 125,000 acres of Tribal minerals. This project is uniquely structured with Bill Barrett Corporation as operator for deep rights and Berry Petroleum Company as operator of shallow rights to allow Ute Energy the right to participate in both shallow and deep well development. By splitting the deep and shallow well development, commitments and operators the deal doubled the acreage position of the partnership and took advantage of the exploration expertise of each Operator. In addition there is an AMI which provides Ute Energy the right to participate in approximately 64,000 acres of non Tribal minerals.

The Lake Canyon project targets oil zones in the Green River-Wasatch formations and gas zones in the Garden Gulch formation at depths from 3200’ to 8000’ and basin-centered tight gas in the Mesaverde formation at depths ranging from approximately 10,000 to 14,000 feet. The Exploration and Development Agreement (EDA) is between the Ute Indian Tribe, as mineral owner and Bill Barrett Corporation (Deep Operator) and Berry Petroleum (Shallow Operator) and Ute Energy as commercial partner granting the exclusive right to explore, develop and market oil and gas from approximately 125,000 acres of the Uintah and Ouray Reservation, all located in Duchesne and Wasatch Counties, Utah. Ute Energy also has the right to propose wells, pursuant to the specific terms of the EDA.

NOSR II (Navel Oil Shale Reserve)

NOSR II (Naval Oil Shale Reserve) is an exploration project that targets gas zones in the Entrada, Buckhorn, Cedar Mountain, Dakota , Mesaverde and Wasatch Formations at depths from 4,500’ to 13,500 feet. Together, the Tribe and its joint venture partner FIML Natural Resources (FNR) formed Ute/FNR LLC, a Delaware Corporation to develop the oil and gas reserves of NOSR II project area. The Ute Tribe has a membership interest in Ute/FNR and assigned its interest in Ute/FNR to its affiliate Ute Energy in May of 2005. The Exploration and Development Agreement (EDA) between Ute Energy and FIML Natural Resources, as Operating Manager, give Ute/FNR the exclusive right to explore, develop and market oil and gas from approximately 83,000 acres of the Uintah and Ouray Reservation, all located in Uintah County, Utah.

Blacktail Ridge

The Blacktail Ridge Prospect is an exploration and development project that targets oil zones in the Green River and Wasatch formations, ranging in depth from 6000’ to 12,500’feet. The Exploration and Development Agreement (EDA) is between the Ute Indian Tribe as mineral owner and Bill Barrett Corporation, as Operator, and Ute Energy as commercial partner which grants Bill Barrett Corporation the exclusive right to explore, develop and market oil and gas from approximately 51,000 acres of the Uintah and Ouray Reservation, all located in Duchesne County, Utah.

The terms of the EDA also establish an Area of Mutual Interest (AMI) whereby the Ute Energy may participate with Barrett in the potential acquisition and development of the additional 50,000 acres of non-Tribal minerals located within the Project Area. Ute Energy also has the right to propose wells, pursuant to the specific terms of the EDA.

Monument Butte and Bridgeland

Monument Butte/Bridgeland is an exploration and development project that targets oil zones in the Green River formations and gas zones in the Garden Gulch formation, all at depths from 3200’ to 6500’ and deeper Wasatch depths. The Exploration and Development Agreement (EDA) is between the Ute Indian Tribe, as mineral owner, and Newfield Production Company Production, as Operator, and Ute Energy as commercial partner which grants Newfield the exclusive right to explore, develop and market oil and gas from approximately 61,000 acres of the Uintah and Ouray Reservation, located in both Uintah and Duchesne Counties, Utah.

This Prospect Area lies immediately adjacent to the very successful Monument Butte Secondary Recovery Project which is now operated by Newfield Exploration and Production. This field is currently one of the most prolific oil fields in the State of Utah. Ute Energy also has the right to propose wells, pursuant to the specific terms of the EDA.

Section 36 Pooling Agreement

The Section 36 Pooling Agreement is an exploration project located in the southern portion of the Uinta Basin and includes approximately 320 acres of Tribal minerals. The Section 36 Pooling Agreement is a project between the Ute Indian Tribe as mineral owner, Questar Exploration and Production Company as Operator, and Ute Energy as commercial partner which grants to Questar the exclusive right to explore, develop and market oil and gas from within the project area. Section 36 is located near Wolf Flat and is adjacent to the prolific and recently discovered Flat Rock Gas Field.

Wolf Flat

The Wolf Flat Area is located in the southern portion of the Uinta Basin and includes approximately 12,500 acres of Tribal minerals. The primary producing horizons are the Triassic Wingate Formation, the Jurrasic, Carmel, Entrada and Curtis formations, and the multitude of Upper Cretaceous and Tertiary zones including the Dakota, Mancos, Mesaverde and Wasatch formations, which range in depth from 4000’ to 13,000’.

The Wolf Flat Exploration and Development Agreement (EDA) between the Ute Indian Tribe as mineral owner, Questar Exploration and Production Company as Operator, and Ute Energy as commercial partner, grants to Questar the exclusive right to explore, develop and market oil and gas from within the project area. Ute Energy also has the right to propose wells, pursuant to the specific terms of the EDA.

Little Canyon

The Little Canyon Unit is located in the central portion of the Uinta Basin and includes approximately 160 acres of Tribal minerals. It is a southern extension to the Natural Buttes Gas Field, which is currently being actively drilled by numerous Operators, including XTO Energy.

The Little Canyon Exploration and Development Agreement (EDA) is between the Ute Indian Tribe as mineral owner, XTO Energy as Operator, and Ute Energy as commercial partner, which grants to XTO Energy the exclusive right to explore, develop and market oil and gas from within the project area.