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Atlantic Rim

The Atlantic Rim encompasses over 270,000 acres in Carbon County, Wyoming, in an area that averages about 10 miles in width and runs nearly 40 miles from north to south from Rawlins, Wyoming, to just east of Baggs, Wyoming.

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Catalina Unit

The Catalina unit shown in the map encompasses 21,725 acres. A favorable Record of Decision on the Atlantic Rim EIS in May 2007 allowed the Company to begin its drilling program on 80 acre spacing in July 2007. As of March 31, 2009, we operated 70 CBM wells in the Catalina Unit of the Atlantic Rim, 67 of which were producing. During the first quarter of 2009, our wells averaged gross production of 25.3 Mmcf/d (17.3 Mmcf/d, net). Gas content of the coal is high, and permeability is excellent. We have the potential to drill and operate over 200 additional wells in the Unit, resulting in approximately 101 net wells to the Company.

Doty Mountain Unit

Double Eagle has an 18.00% working interest in the Doty Mountain Unit, which produced a total of 194 MMcf of gas (net) to the Company in 2008. The operator of Doty Mountain, Anadarko Petroleum Corporation, drilled 18 new producing wells in the Unit in 2008, bringing the total number of wells to 68. In 2008, the operator began performing fracture stimulation on the existing wells in this Unit as part of a test pilot program. The operator is still evaluating the results of the test pilot program, but the preliminary results are encouraging.

Sun Dog Unit

Double Eagle has a 9.75% interest in the Sun Dog Unit which produced approximately 299 MMcf of gas (net) to the Company in 2008. The operator of the Sun Dog Unit, Anadarko, drilled 45 wells as part of its 2008 drilling program, bringing the total number of wells in the Unit to over 120 wells.

Operation Highlights

  • Double Eagle has invested more than $70 million over the past two years into development of its Atlantic Rim properties
  • Atlantic Rim reserves totaled 47.8 Bcf as of December 31, 2008 (1)
  • Catalina Unit
    • Increased from 14 producing wells at the end of 2006 to 70 potential producing wells at the end of 2008
    • 18 new wells to be brought on production in 2009
    • Have over 200 potential drilling sites remaining in the Catalina Unit.
    • Net production increased 167% in 2008 to 4.0 Bcf from 1.5 Bcf in 2007.
  • Doty Mountain Unit
    • Interest in over 50 producing wells at year-end
    • 18 new wells drilled in 2008 that are expected to be brought on-line during the first half of 2009
    • Current working interest in Doty Mountain is 18.0%
  • Sun Dog Unit
    • Interest in over 70 wells at year-end
    • 45 new wells were drilled in 2008 that are expected to be brought on-line during the first half of 2009
    • Current working interest in Sun Dog is 9.75%

(1) Prepared by Netherland, Sewell & Associates, Inc.

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