Freedom Crude

Freedom Crude is a subsidiary of Illinois Basin Operating, LLC (IBO). IBO was formed to acquire and develop oil and natural gas properties in the Illinois Basin. &nbsp The Illinois Basin is an oval depression measuring roughly 60,000 miles in the United States Mid-Continent including area in southern Illinois, southwest Indiana and northwest Kentucky.&nbsp Historical production dating back to the early 1900's tops 4 billion barrels of oil and 4 trillion cubic feet of natural gas produced from vertical wells prior to the advent of current industry technology.&nbsp Oil and source rock analysis indicates that the source rock for all of the conventional production is the New Albany shale. The New Albany shale is Devonian age and was formed at the same time as other major U.S. oil resource plays like the Bakken and Woodford shale plays.&nbsp Using the most current source rock geochemistry and log analysis, Illinois Basin Operating, LLC has identified and is acquiring acreage with underlying mineral rights in the Illinois Basin that is similar in key characteristics to other oil-productive source rocks in the Williston Basin (Bakken Shale) and the Anadarko Basin (Woodford Shale) with historically productive limestone and sandstone formations at shallower depths.&nbsp Development has already begun and will continue into 2017 and beyond.