Investor Presentaiton

24 Low Historical Decline Rate Waterflood Hamilton Dome Field Overview Hamilton Dome Field is located in the northwestern Wyoming Big Horn Basin in Hot Springs County Discovered in 1918 and primarily developed from the Phosphoria and Tensleep reservoirs (~3,000' depth) • Merit Energy purchased the property in 1995 • The field has been produced via waterflood since the 1970s BOEPD Historical Net Production 10,000 1,000 ~3.4% Yearly Decline Since 1974 COVID-19 Impacts Highlights Long-life, low decline reserves; premier field having produced over 160 MMBO over 100 years • 100% oil production; averaging low single-digit decline rates • Top tier operator; Merit Energy operates this field as they have for 20+ years Statistics Operator Avg. Net Daily Prod (2Q FY2023) Acreage (100% HBP) EPM Average WI % / Avg. NRI % Pricing Commodity Split (Reserves) (1) Net PDP Reserves (1) Net PDP Reserves / Net Production (R/P)(1) Merit Energy Company 413 BOPD ~3,160 gross/~620 net acres 23.5% / 19.7% Western Canadian Select (WCS) 100% Oil ~2.4 MMBbls 16 years 100 ~0.8% Yearly Decline Since 2016 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 Year Operations Notes: 1. FYE2022 reserves prepared by DeGolyer & MacNaughton as of 7/1/2022 at 6/30/2022 SEC prices of $5.19/MMBTU and $85.82/bbl. AEVOLUTION Petroleum Corporation

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