Statement on Hurricane Harvey

Our hearts go out to the families and communities affected by Hurricane Harvey and the related flooding. While we at Great Western have strong industry ties throughout Texas, we have even greater personal connections through our employees with families and friends that reside in the affected areas.

Though our location in Colorado prevents us from volunteering with initial relief efforts, we want to support the organizations providing goods and services to those in need during this crucial time. In the coming days, both the Company and our employees will be making a financial contribution to the American Red Cross.

Great Western and our employees want to thank all the first responders, volunteers, and emergency service organizations behind the response efforts in the Gulf region. We will continue to provide support to the impacted communities as they work to rebuild in the coming weeks and months.

Our thoughts remain with all families, friends and all persons in our network of relationships affected by this tragic event.

Great Western is an independent oil and natural gas company with assets located in the Denver-Julesburg Basin in Colorado. These operations have not been impacted by the flooding in the Gulf region, and we expect minimal, if any, impact going forward.

Statement Regarding Firestone, CO Incident

We at GWOG are deeply saddened to hear about the terrible incident near Firestone, Colorado. Our hearts go out to those affected and their families.

No conclusive cause for the explosion has been determined. Information is still being collected and there are many unanswered questions remaining. GW annually tests all our flowlines as required by the COGCC. Our flowline integrity program was recently inspected by the COGCC and GW passed all tests. While we are confident our operations do not present a danger to the public, we are proactively taking the necessary steps to ensure the public that our facilities continue to be safe. Even though an oil and gas well flowline has not been determined to be the cause of the Firestone incident, in an abundance of caution, GW has inventoried all well gas lines within approximately 250-feet of occupied buildings and identified 61 gas lines within that distance.  All 61 of these wells are presently being shut-in, and this will be completed by 1:00pm today (04/27/17).  Testing with air pressure will be completed on all 61 lines, and wells will only be brought back into service after passing the pressure test.

The safety of our friends, family, neighbors, and employees in the areas we operate is our number one priority at all times.

Great Western Petroleum Announces the Promotion of Jay Smith to the Position of Chief Operating Officer

Great Western Petroleum announces the promotion of Jay Smith to the position of Chief Operating Officer.  Mr. Smith has served as Senior Vice President of Engineering since 2013.  During this time the Great Western team has achieved production growth from 2,000 BOE/d to over 15,000 BOE/d, and reserve growth from 15 MMBOE to 100 MMBOE.  Prior to joining Great Western, he spent 19 years with Samson Resources Company, progressing from District Engineer to Division Asset Manager in the Rocky Mountain Division.  During his tenure, this division grew from $200 million to over $4 billion in assets when Samson was sold in 2011.  Prior to that, he spent 8 years with Conoco Inc.  Mr. Smith has extensive experience in asset management, reservoir and reserves engineering, production engineering, and acquisition evaluation.  He has participated in dozens of successful asset acquisitions with a total value of over $2 billion.  Mr. Smith holds a BS in Petroleum Engineering from the University of Oklahoma, is a member of the Society of Petroleum Engineers, and is a registered Professional Engineer in the State of Oklahoma.

Energy Community Charity awards town of Windsor, Martin Lind and Great Western Oil & Gas Co.

Windsor – October 22, 2016 – Energy Community Charity awards town of Windsor, Martin Lind and Great Western Oil & Gas Co. ‘Energy Partner of the Year’ titles

Oil and gas industry group Energy Community Charity recently recognized the town of Windsor, northern Colorado developer Martin Lind and Great Western Oil & Gas Co. with their inaugural “Energy Partner of the Year” award.

“This group of shareholders came together to acknowledge and recognize excellence in the basin,” said Great Western Operating Company Surface Land Manager Eric Creed. “What gave life to this idea was the aftermath of the Pace project. This project reached the governor’s desk and gave birth to the Windsor Neighbors for Responsible Drilling and other similar groups.”

Water Valley developers, town of Windsor officials and Great Western spent nearly two years working on a solution to the proposed location on the Pace property, he said.

“This negotiation and solution illustrates how the process should work,” Creed said. “We don’t need more regulations; we simply need to dedicate ourselves to working with our neighbors and mitigating nuisances whenever possible.”

Next year Energy Community Charity will award a different operator, a different vendor, and a different municipality, he said.

Great Western Announces Major Changes to Drilling Plans at Pace Site in Windsor

FOR IMMEDIATE RELEASE

October 7, 2015 –Great Western Oil and Gas Company is revising the drilling plan for its operations in Windsor to allow all wells initially planned for the Pace property west of CR 13 to be relocated to nearby sites owned by area developer Martin Lind.

The re-siting of the well locations became possible over the course of more than one year of discussions with local government officials and other stakeholders. The Colorado Oil and Gas Conservation Commission (COGCC) and its Director Matt Lepore played a significant role in bringing this new plan to fruition.

Great Western has secured surface use agreements for two different sites located in section 30, approximately one mile east of the Pace pad.

“This new plan does not come without added costs, but it still allows us to access the Pace family’s minerals without putting any wells on the Pace property,” said Great Western CEO Rich Frommer. “Most importantly, this new proposal is in line with what the residents, the Town of Windsor, and the state have asked us to accomplish – making it a win all around. As we’ve said all along, the process works.”

Windsor Mayor John Vasquez expressed his appreciation for Great Western’s efforts in engaging the community and finding a workable solution for all parties.

“The new plan from Great Western shows that our local process works. All stakeholders had a voice and were heard. Together, we found a solution that allows Great Western to operate in Windsor but minimizes the impact on local residents and allows the Paces access to their mineral rights,” said Vasquez.

“We are very pleased with this outcome and applaud Great Western’s, Windsor’s, and the landowner’s commitment to working cooperatively to find a solution,” said Matt Lepore, Director of the COGCC. “This process illustrates the potential for positive results when industry and communities work together.”

Lind also praised the deal.

“The residents of Windsor recognize the tremendous value of the oil and gas industry, however, their quality of life has to come first. Collectively, Windsor triumphs on this agreement for both quality of life and community greater good. My companies and staff have worked tirelessly over the last year with Great Western, the town of Windsor staff and Matt Lepore at COGCC to find the balance that allows Windsor to again be the leader in urban energy development. In that time, Great Western made significant concessions to assure the new locations are harmonious with the golf and surrounding natural areas. Once production begins, these locations will pleasantly blend with the beautiful landscapes of RainDance National Golf Club,” said Lind.

Windsor Neighbors for Responsible Drilling (WNRD) indicated their pleasure with the outcome. “We are very pleased the oil and gas drilling proposed for the Pace property will be moved away from all neighborhoods. This will protect our families, while allowing Great Western to drill for their oil and gas resources,” said Earl Pittman, with WNRD. “We are equally pleased to be part of a cooperative process involving the Town of Windsor, the Colorado Oil and Gas Conservation Commission, Great Western Oil and Gas, Martin Lind and Windsor Neighbors for Responsible Drilling. The process used successfully in Windsor can become a model for Colorado, where local governments actively work with the state, the oil and gas operator and neighboring landowners to find optimal drilling sites that preserve our neighborhoods while allowing the recovery of oil and gas.”

Frommer emphasized that conditions and alterations made in the site plan reflect Great Western’s commitment to meeting local community needs, but are also unique to the Pace location. “We must approach each individual project in a distinct way,” he said. “We had made considerable changes to our practices to meet neighborhood concerns prior to the re-siting plan. While we were able to reach a great compromise in this situation, every future drilling area is unique in regards to available surface locations and geological and engineering capabilities. We certainly hope to move forward with the support of all those involved.”

About Great Western Oil and Gas
Great Western Oil & Gas (GWOG) is a Denver-based independent exploration and production company with active operations in the Denver-Julesburg Basin in Colorado. GWOG’s $1 billion program includes over 600 drilled and operating wells, producing nearly 13,800 barrels of oil equivalent per day. GWOG is ranked as a Top 100 driller in the United States and the ninth producer in Wattenberg Field in Colorado. Learn more or contact us at www.gwogco.com.

About The Broe Group
The Broe Group, based in Denver, Colorado, is a diversified privately-owned enterprise with a multi-billion asset base. The Broe Group and its affiliates employ more than 1,000 people directly and provide employment for countless others through its Great Western Industrial Park in Northern Colorado. The Broe Group and its affiliates own and/or manage commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations, and is the 2nd largest operator of short-line railroads in the U.S. Its energy affiliate, Great Western Oil & Gas Company, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has multiple other investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see www.broe.com.

About Water Valley Land Company
The Water Valley Land Company is the most prominent real estate development company in Northern Colorado. The family-owned business has developed various commercial, industrial and residential projects throughout its 30 years of business including the Water Valley master-planned community of Windsor, the 27-hole Pelican Lakes Golf Course & Resort, the Diamond Valley Industrial Park and the Westlake Shopping Center in Greeley, Colorado, and the soon-to-be-built RainDance master-planned community in Windsor. Water Valley is an active participant in oil and gas development and a leader in reducing in industry’s impact on the urban environment. The Water Valley community of Windsor is routinely ranked by national publications as a “Top Place to Raise a Family in America” and the Pelican Lakes golf club often receives state recognition awards. For more information about Water Valley, visit watervalley.com.

Great Western Oil & Gas Continues to Expand Presence in Wattenberg Field

Announces Purchase of Additional Wells and Acreage

DENVER – June 8, 2015 – Great Western Petroleum, a subsidiary of Great Western Oil & Gas Company, an affiliate of The Broe Group with active operations in the Denver-Julesburg Basin in Colorado, has purchased approximately 6,000 acres and eight producing wells in the Wattenberg Field. The purchase closed June 1, but the production is effective back to January 1. The price and seller were not disclosed.

“We continue to see great value in the DJ basin and remain committed to northern Colorado and increasing our holdings there,” said Rich Frommer, President and CEO of Great Western Oil & Gas. “We expect additional acquisition activity in the near-term future.”

This new asset will allow the company to drill up to 100 new horizontal wells in the Niobrara and Codell formations. It is the second acquisition Great Western Oil & Gas has made during this period of uncertainty for the industry. In January, the company announced it purchased 14 producing wells and 816 net leasehold acres in the Wattenberg Field.

“The Broe Group sees the current market environment as an excellent opportunity to expand our oil and gas holdings and is actively seeking to invest in northern Colorado and beyond,” said Claude Pumilia, COO and CFO of The Broe Group.

Great Western announces commitment to the American Cancer Society

Windsor, CO – Great Western Oil and Gas Company, an affiliate of The Broe Group

GREELEY, CO – Great Western Oil & Gas Company has decided to expand its philanthropic efforts to include a cause that touches everyone – cancer. Great Western will be attending this year’s American Cancer Society’s Cattle Barons Ball held at Art Guttersen’s Home on the Range in Greeley, CO. With Collin Raye providing entertainment, this event had over 1,000 attendees and raised nearly $500,000 last year.

“Cancer touches us all, and Great Western is excited to be a part of this year’s event and to contribute to such a worthy cause,” said Great Western CEO Rich Frommer.

The American Cancer Society invests $160 million each year in cancer research – making it the largest private, not-for-profit source of cancer research funds in the United States. Great Western is proud to be a part of this year’s Cattle Barons Ball and encourages others to join us in the fight against cancer.

For event information please contact our Surface Land Manager, Eric Creed, at 970-686-8831 ext. 5645 or ecreed@gwogco.com.

Great Western Oil & Gas Buys Additional Wells And Leasehold Acreage In Wattenberg Field

Company is actively pursuing acquisitions during period of uncertainty in the industry

Denver January 28, 2015: Great Western Oil & Gas Company, an affiliate of The Broe Group with active operations in the Denver-Julesburg Basin in Colorado, has purchased 14 producing wells and 816 net leasehold acres in the Wattenberg Field from an undisclosed seller. The purchase closed January 16. The price was not disclosed.

The tracts are adjacent to existing Great Western Oil & Gas land in Weld County and bolster the company’s position among the top 10 oil & gas producers in Colorado, where the company continues to look for additional acquisitions of wells, acreage and non-consenting working interests.

“This acquisition is a great example of our strategy to expand our holdings in the Wattenberg Field, particularly during the current period of variability in the industry, and achieve economies of scale throughout our operations in Northern Colorado. We continue to search for additional suitable wells and leasehold acreage located near our current operating locations,” said Rich Frommer, President and CEO of Great Western Oil & Gas.

Great Western Donates $21,000 to Windsor Charter Academy

WINDSOR, COLO. – Great Western Oil & Gas, an affiliate of The Broe Group with active operations in the Denver-Julesburg Basin, has made a gift of $21,000 to the Windsor Charter Academy to support immediate needs facing the school.

“Great Western has had strong ties to Windsor for decades – from our industrial park to the OmniTRAX railroad to the countless employees we have living in the area,” said Great Western CEO Rich Frommer. “Supporting our local schools and helping build a better future for our children is a great way to give back to a community that has welcomed us and given us so much.”

Said Rebecca Teeples, principal of Windsor Charter Academy: “Thanks to this generous donation from Great Western, we are able create beautiful comprehensive learning environments for a math classroom, learning lab, and our Special Education suite. We hope to continue this partnership and work together to make our school and our community the best it can be.”

Great Western’s track record of supporting education also includes a donation of tablets made the Weld RE-4 school district in May of last year.

Great Western announces $20K donation to Windsor school

Two Tozer Primary School classrooms will get an extra taste of some 21st-century technology next year, courtesy of Great Western Oil and Gas.
Great Western, a division of The Broe Group, donated $20,000 to the Weld Re-4 School District during its most recent school board meeting Monday. The funds will go toward the purchase of 60 Android tablets for Melanie Stanfill and Lori Hoffner’s second-grade classes.
The donation came a few months after Windsor Mayor John Vazquez and School Board President Sean Ash started discussing some budget constraints felt by Weld Re-4. The two spearheaded a work session in early January between Windsor’s town board and representatives from Weld Re-4, Poudre School District and Thompson School District to discuss how the districts are funded as well as budget shortfalls.
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