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MSJC Holdings, LLC, <br />a Colorado limited liability company <br />Dean A. Rogers' <br />LESSORS' ROYALTY INTEREST <br />L. F. Ranch Co., a Colorado corporation <br />TOTAL «ORKING <br />Ar'~lD REVENUE INTEREST <br />1.00000000 <br />UNIT RECOI~TCILIATION - DNISION OF INTEREST <br />Niobrara and Codell formations - NI2S`'dl4 Unit - 80.00 acres, m/1 <br />for production Pram the Coors Energy X13-25 «~ell <br />o.o22sooo0 <br />o.oo2saooo <br />0.12500000 <br />1.00000000 <br />WORIt1NG LTiTEREST WI NRI <br />Petroleum Development Corporation 1.00000000 0.$0000000 <br />OYERRID£NG ROYALTY INTEREST <br />Spool Holding, LLC, <br />a Texas limited liability company 0.05000000 <br />MSJC Holdings, LLC, <br />a Colorado limited liability company o.a225o000 <br />Dean A. Rogers'- 0.00250000 <br />LESSORS' ROYALTY IN"I'EREST <br />L. F. Ranch Co., a Colorado corporation 0.1200000 <br />TOTAL WORKING <br />AND REVENUE II~T'TEREST 1.00000000 1.00000000 <br />' Interest subject #o terms and conditions of that certain Furchase and Sale Agreement by and be#~r~een Acei#e <br />Energy Corporation and PDC, and shall not burden any existing wells covered under the Agreement as ofthe <br />effective date thereof. A copy of the said Agreement vas not included in the materials examined. <br />' See Footnote No. 1 above. <br />3 "{t is distinctly understood ono a~~;~e~'d as e'v:.~e+~ced by your <br />accep`~nce of this apinior• that F'eiroteum E;evelopment <br />Corporation and its subsidiaries are in noway liab{e to any <br />person, firm of corporat!an for a^y !oss or inconvenience <br />occasioned by the use of^-_r rGi+~!.cu ~#p~n his opinion." <br />