Waskahigan Oil & Gas Corp

Suite 203, 221 – 10th Avenue SE, Calgary, Alberta Canada T2G 0V9

Alberta, Canada

WOGC (through its subsidiary Odaat) has rights to 27.25 sections gross (19.51 net) of petroleum and natural gas rights in the Province of Alberta. Odaat owns 10 oil and natural gas wells (gross)(7.34 net) wells which are producing or are capable of producing at commercial volumes. Two wells are located in Carstairs, Alberta. Eight wells are located near Fox Creek, Alberta. Odaat operates 9 wells. Odaat owns various pipelines, surface equipment and chattels used to produce oil and natural gas from the wells. It owns no processing facilities. It owns no trucks or other chattels other than oil and gas equipment. It has no chattel leases. It has no full time employees. WOGC (through a subsidiary) owns a 22% working interest in a disposal well near Fort Nelson, British Columbia. Due to low commodity prices (prior to 2022) and pipeline constrains, the disposal well is inactive but has a $566,500 security deposit with the British Columbia Oil & Gas Commission. WOGC has a 22% working interest in the $566,500 deposit and $124,629 is reflected in the Company’s financial statement. Only two of the Alberta wells are operating producing approx. 573 mcf/d in natural gas, 1 barrel of oil/d and approx. 9 barrels of NGL/d. One of the operating wells requires a workover (cost $60,000) which would likely improve its production by 300 mcf/d. Approximately 400 mcf/d could be produced from 2 shut in wells (15-24-63-24 W5th and 6-30-63-23 W5th) pending satisfaction of posting security for abandonment and remediation liabilities on jointly operated wells with CNRL. Approximately 800 mcf/d and associated NGL could be produced from 5 wells (Deep Valley)(7-19-63-24 W5th , 3-20-63-24 W5th, 16-32-63-24 W5th, 16-09-63-25 W5th and 8-24-63-25 W5th) when the Paramount Deep Valley processing plant repairs are made and the plant is reopened or if the Company acquired its own processing and pipeline access facilities. There are no material obligations which must be completed to keep the assets in good standing. The GLJ Report did not include the following wells in proved producing: 15-24-63-24 W5th, 6-30-63-23 W5th, 7-19-63-24 W5th, 3-20-63-24 W5th, 16-32-24 W5th, 16-09-63-25 W5th and 8-24-63-25 W5th.