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GENERAL DEVELOPMENT OF BUSINESS

Trio Operating Company, Inc. was incorporated in the State of Texas on September l9, l980. Trio commenced business October l, l980 in Decatur, Texas and later moved its general office and operations to Wichita Falls, Texas, because of its need for a better proximity to its operation.

NARRATIVE DESCRIPTION OF BUSINESS

The company is primarily engaged in oil and gas engineering consulting, oil and gas lease operations and management. The engineering consulting segment includes drilling, completion, and lease operations as well as limited property and reservoir evaluations. The company is presently operating 104 leases, some under the standard Operating Agreement and some by a Contractors' Agreement with the operator of record. The majority of the company's experience is in the Hardeman and Fort Worth Basins located in North Texas, Southern Oklahoma and the Texas Gulf Coast. Our consultants have supervised the drilling and completion of over eight hundred (850) wells since 1980. Additionally, we have provided consulting engineering services and/or operation supervision in South Texas, East Texas, West Texas, the Texas Panhandle, and in the States of Oklahoma, North Dakota, Colorado and New Mexico.

EMPLOYEES

As of January, 2012, the company employed eleven employees. The company has elected the policy of employing contractors to perform much work that would otherwise be delegated to employees. Trio presently employs two (2) Petroleum Engineers, two (2) Accountants, four (4) Completion and Production Supervisors, and three (3) Production Clerks. The company presently has on contract (l2) pumpers.

The company's executive officer is William R. Setzler, Jr. Tom Perkins is COO and Petroleum Engineer responsible for field operations. Steve DuBose is the V.P Finance and serves as controller and office manager.

Trio Operating Company, Inc. and/or its employees are members of The Texas Alliance of Energy Producers (formerly North Texas Oil & Gas Association), TIPRO and the Independent Petroleum Association of America. Mr. Setzler is the past President of the North Texas Oil & Gas Association and served on the Board of Governors of IPAA. He has served on the Texas Region Producers Advisory Group of the Petroleum Technology Transfer Council (PTTC). Mr. DuBose is the past President of the Wichita Falls COPAS chapter.

As of January 1, 2002, all properties are now operated under a limited liability corporation, Trio Consulting & Management, LLC.


Employee Links:

Bill Setzler - Petroleum Engineer, President
Thomas Perkins - Petroleum Engineer-Vice President Operations
Steven E. Dubose - Controller- V.P. Finance
Kent D. Fidlar - Assistant Controller
Stephen J. Morgan - Drilling & Production Supervisor
Larry A. Graham - Completion & Production Supervisor
Gary McDonald - Completion & Production Supervisor
Don Buff - Drilling, Completion & Production Supervisor