Breaking News: HWKR Is Our Latest UnderValued Play

Hawker Energy is focused on the acquisition, exploitation and production of oil properties in Southern California. Our goal is to deliver long-term value to our shareholders through financial discipline, opportunistic acquisition and efficient operation.

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Acquisition of producing assets with low-risk proven development potentialhawkerenergy

Maximize value through operational efficiency and technical expertise.

Optimize oil recovery using proven technologies.

TAPIA

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The Tapia Canyon field covers an area of approximately 280 acres located about 40 miles north of the Los Angeles metropolitan area and one mile south of the town of Castaic, which lies on interstate 5. The area is rich in hydrocarbons; the crude oils are predominantly heavy with a high viscosity. Texaco found oil in the area in 1954, but the Tapia Canyon field was not discovered until 1957, when the Yule No. 2 well tested at 120 barrels of oil per day of 18 degree API oil. The field commenced production in August 1957. Since inception, oil has been produced from the Tapia Canyon field by natural depletion, and conventional pumping, augmented by a small natural water drive, and the cumulative recovery percentage, currently is about 14% of oil in place. The Yule sand, which is the producing reservoir, is greater than 100 feet thick over the majority of the oilfield.

RINCON

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Hawker, through its wholly-owned subsidiary Punta Gorda Resources, LLC, claims developmental rights of certain mineral rights of coastal lease PRC 145.1 just offshore Ventura County in the Rincon Field and ownership rights to an associated on-shore drilling and production site. This lease is subject to 24.5% in overriding royalties, primarily to the State of California. A single active well on PRC 145.1 has historically produced between 5 and 15 barrels of oil per day (gross production before royalties). All rights claimed by Hawker to PRC 145.1 are being challenged in court by the lease’s operator of record — Case No. 56-2013 00440672-CU-BC-VTA pending in Ventura County Superior Court.

The Rincon Oil Field is a large oil field on the coast of southern California, about ten miles northwest of the city of Ventura, and about 20 miles east-southeast of the city of Santa Barbara. It is the western most onshore field in a series of three fields which follow the Ventura Anticline, Discovered in 1927, the oil field is ranked 36th in California by size of recoverable oil reserves. The area of the Rincon field in question begins just on the east side of the 101 freeway where the lease hold begins and the drill site is located. The lease hold extends west from the drill site towards Rincon Island. Rincon Oil Field has produced 124 MMBO and 191 BCFG in 2005. The Rincon Oil Field is separated into the onshore and offshore areas. Both areas are productive from the Miley and Repetto Formations. The PRC 145 lease contains 341 acres and has been previously tested with a total of 14 wells that were drilled between 1951 and 1971.

MIDWAY SUNSET

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The Midway-Sunset Oil Field is a very large oil field in Kern County, San Joaquin Valley, California. Discovered in 1894, and having a cumulative production of close to 3 billion barrels of oil at the end of 2006, it is the largest oil field in California and the third largest in the United States. The oil field runs southeast to northwest, with a length of approximately twenty miles and a width of three to four. The field contains over 11,000 producing wells, more than any other oil field in California. The company has a 40 acre parcel know as the DEEP lease. Wells drilled in the Midway-Sunset fields produce 13° to 15° API gravity oil from numerous productive semi-consolidated sands that range in depth from1,400’ to approximately 3,500’. The productive intervals in the DEEP lease are the Monarch sand at about 1,600’, and the Top Oil sand at about 1,450’.

 

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