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Condor Project

The Neoborah block is located in Weld and Colorado of Colorado, northeast of Denver, with a total area of 7,576 acres (30.6 square kilometers) and a net area of 6,755 acres. Condor Energy Technology LLC (" Condor "), operator of this block, holds 89% of the working interests and 71% of the net income, Condor is the indirect wholly-owned subsidiary of MIE.

Condor Project is located in a world-class oil and gas production area, close to the giant Wattenberg oil and gas field, surrounded with perfect oil and gas infrastructure and intensive oil and gas pipeline network, which is convenient for sale, laying a solid foundation for the full development of the block. The 2P reserves of this project were 858,000 barrels of oil equivalent by the end of 2016. In the early stage, this project has drilled five appraisal wells, where the oil and gas flow has been found, which proves that the oil and gas are widely distributed in the block. MIE has successfully started the development of oil and gas resources of US through this project.