Browning Oil Company, Inc12377 Merit Drive, Suite 450, Dallas, Texas, United States

Browning Oil Company, Inc. (BOCI) is a privately-held, family-owned exploration and production company.  The Company’s main office is located in Dallas, Texas.  A production and field operations office is located in Giddings, Texas.Browning was founded by Mr. William W. Browning, Jr. in 1974 as an independent oil and gas company. In 1978, the Company drilled a prolific stepout test well, which helped trigger the drilling boom in the Giddings Austin Chalk Field. Between 1978 and 1985, the Company drilled or participated in over 600 Chalk wells. Browning has remained active in the Chalk trend and since 1993 has participated in 130 horizontal wells in the Chalk. The Company currently operates approximately 50 Austin Chalk wells out of its production office in Giddings. BOCI operates a total of 60 producing wells in Texas and Louisiana.  As of 1/1/2016, the gross operated production for the Company is 15,000 BOE/month. Browning owns a non-operated interest in approximately 270 additional wells.The management group for Browning is headed by Michael McWilliams, President and CEO. Mr. McWilliams has a degree in geology and has been involved in petroleum exploration and production for over 40 years.Browning’s business plan incorporates a combination of exploration, exploitation and reserve acquisitions depending upon the available opportunities and market conditions. Browning’s relatively small size, coupled with a strong balance sheet, gives it the ability to quickly pursue opportunities in its chosen areas of interest, predominantly Texas and Louisiana.