Split Rock Ranch q. Wyoming - Carbon, Fremont and Natrona County - Muddy Gap 1

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Approximately 200,000 total acres with 12 miles of the Sweetwater River, Split Split Rock Ranch with rolling grasslands and irrigated meadows. There are three sets of improve- Rock Ranch is located in south-central Wyoming on the historic Oregon & Mormon Trails between Casper and Lander - a few hour s drive from the resorts of cow/calf pair plus bulls and horses, has four pivot sprinklers and puts up 3,200 ments with six homes and six sets of working corrals. The ranch runs 1,900 Jackson Hole, Wyoming and Steamboat Springs, Colorado. The ranch has very tons of hay. Split Rock Ranch is a large production ranch with endless western diverse terrain from scenic timbered mountains and canyons to river bottom scenery, wildlife, and its own herd of wild horses. Wyoming - Carbon, Fremont and Natrona County - Muddy Gap 1

Split Rock Ranch is situated in central southern Wyoming along the historic Oregon Trail in Carbon, Fremont, and Natrona Counties. The ranch is approximately 50 miles north of Rawlins, 80 miles west of Casper and 80 miles south of Lander near Jeffery City. US Highway 287 provides year-round access to the ranch with private air service in Rawlins, Riverton or Lander and commercial service in Casper. The ranch improvements are in three locations and include six homes and two one-room cabins. There is one roping arena and six sets of working corrals strategically placed around the ranch for proper cattle management. 2 Location and Improvements

The Split Rock Ranch is a large cattle ranch expanding approximately 36 miles north to south and 13 miles wide. Originally two ranches, the Diamond Hook and Split Rock, the Split Rock Ranch is joined by Highway 287 and has excellent year-round accessibility. The ranch has varied terrain from river bottom along the Sweetwater River, seasonal creeks, forested mountains, open grasslands, canyons and high rock ridges. Elevations range from 6,700 feet along the river to over 9,200 feet on Whiskey Peak, part of the Green Mountain Range. Split Rock Ranch acreage consists of: Approximately 16,000 Deeded Acres Approximately 123,727 BLM Leased Acres Approximately 14,000 State Leased Acres Approximately 40,000 Private Leased Acres 193,727 Total Acres Property Description 3

There are extensive water resources throughout the ranch providing stock water, including 12 miles of the Sweetwater River. Over thirtyfive miles of underground pipeline provides water from three springs. Large 15,000-gallon stock tanks are located at one to two-mile intervals along the pipeline. There are ten stock water wells along with several reservoirs, the Sweetwater River and several tributary creeks. The ranch has four center-pivot sprinklers which irrigate approximately 620 acres of alfalfa. 4 Stock Water and Water Rights

The ranch runs 1,900 cow/calf pair plus bulls and horses. Cattle do well on the ranch with calving season occurring in the late spring, and calves weighing approximately 450 pounds by fall are ready to ship in October. The ranch is very efficient and handled by experienced management with two full-time management people and additional personnel for seasonal help during calving and haying seasons. The Seller is an experienced rancher and livestock veterinarian using the latest advanced livestock management techniues. Operations 5

A resident elk herd roams freely in the outstanding alpine mountainous regions of the ranch and mule deer, white tail and large numbers of pronghorn antelope also inhabit the ranch. Currently, Split Rock Ranch ualifies for landowner permits on three species: elk, deer and antelope. Twelve miles of the Sweetwater River create abundant fishing opportunities for brown trout and fishing for rainbow trout is being developed in the ranch s own private ponds. The ranch also hosts a rare herd of approximately 200 wild horses which are exciting to watch. 6 Fishing, Hunting and Wildlife

The Split Rock Ranch is available for $8,900,000 or $4,500,000 for 50% interest inclusive of all real estate, improvements, water rights, mineral rights, and Seller s cooperation to transfer all leased lands. Livestock, euipment and a ranch helicopter is available for sale in addition to the real estate. Real estate taxes for 2007 were $11,910.00. Shown by appointment only, Broker cooperation invited. Split Rock Ranch For further information, contact Ron Morris at 970.535.0881 ron@rmabrokers.com or Matt Johnston at 307.655.2273 matt@rmabrokers.com ASPEN DENVER SHERIDAN Offering subject to errors, omissions, prior sale, change or withdrawal without notice. All information provided by Ranch Marketing Associates or its respresentatives is intended only as a general guideline and has been obtained from sources deemed reliable, however we cannot guarantee its accuracy. Prospective purchasers should independently verify all items of interest with their own sources. www.rmabrokers.com 7

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