White Rhino Project Updates

Gulf Coast Prospects - White Rhino Energy has signed an agreement for the rights to ten on shore gulf coast conventional gas plays. These opportunities were developed over a 20+ year period by a group that has extensive onshore Gulf Coast experience as well as multiple discoveries onshore and offshore Gulf Coast, as well as major discoveries worldwide. This seasoned exploration team is working with White Rhino under a joint agreement. Sophisticated, proven, probabilistic risking methods project success ratios of 50-70% over the portfolio.

Valentine Prospect - White Rhino Energy was unable to secure financing to pursue its 1/3 interest in the Valentine Prospect. Consequently, White Rhino’s right to the prospect have expired.