Pinedale Energy Limited provided an update on current development and exploration activities occurring at the Company’s non-operated working interest properties situated in the Pinedale gas field area, southwest Wyoming. 2018 development activities involving three Pinedale interest directionally drilled infill vertical well locations have taken place or are in progress. An infill well (0.2125 net), that was drilled and cased in late 2017, was completed by the operator and turned in line to sales on January 22, a second well (0.2125 net) has been drilled, logged, cased and is waiting on completions, and a third well (0.2125 net) is currently drilling ahead. Pinedale has approved 10 additional AFE’s electing to participate in the development of 10 new vertical infill wells in which the Company has a 21.25% working interest. The estimated gross cost of each AFE is $2.81 million per well, or approximately $597 thousand net to Pinedale’s interest. Pinedale owns a 7.94% working interest in the prolific Warbonnet 9-23-A-1H horizontal well that was developed within a 1,595-acre horizontal drill spacing unit (“Horizontal DSU”). Warbonnet 9-23-A-1H has produced over 3 Bcfe in under three months since first sales on November 1, 2017. Applications to drill 5 additional new horizontal wells within the Horizontal DSU have been filed with the State by the operator and are waiting on approval. In 2017 Pinedale participated with its operating partner in the successful development of 5 producing directionally drilled vertical infill wells (1.0625 net) and the Warbonnet 9-23-A-1H exploratory horizontal well (0.0794 net). Pinedale’s inventory of producing wells at year-end 2017 totaled 17 wells (3.404 net).