OJA RANCH
HARDING COUNTY, SOUTH DAKOTA

LOCATION: The ranch is located about 6 miles west of Buffalo, South Dakota
on Hwy 20 in Harding County.

SIZE: The ranch consists of about 5,751.50 acres and there is no leased
land with the ranch.

FENCES: Most of the exterior and interior fences are 3 and 4 strand barbed
wire and some 5 wire fences. There are 13 separate pastures and
some of these are smaller pastures close to the buildings.

WATER: There are 9 wells on the ranch, 8 of the wells have electricity to
them with submersible pumps and one well has a windmill. The
depth of these wells is 30' to 140'. There are 12 stock dams and
dugouts. There is one good spring on the western part of the
ranch. Also, Brush Creek runs for about 4.5 miles across the
middle part of the ranch and it runs by the buildings. This is a
seasonal creek and usually runs in the spring and early summer.
The average annual precipitation is about 14.71 inches.

IMPROVEMENTS: The ranch house is an older remodeled home with a partial
basement. The main floor is about 1384 square feet and is in
real nice condition. Here at the headquarters there are several
outbuildings: a 30'X126' barn, a 40'X40' shop/machinery
storage building, a 32'X 64' machinery storage building, a 22'X24' garage, a 14'X26' shop/garage, a 16'X24' horse barn, a 16'X40' livestock shelter, a 16' X 24' cake building, and several other smaller buildings. There is also a nice set of corrals at the headquarters.

TOPOGRAPHY: The ranch is mostly flat to rolling land and well sodded. There
are a lot of mostly ash trees along the creek bottoms, that provide
real good winter protection for the livestock.

VEGETATION & HAYLAND: The ranch has a mix of different grasses. The main grass present
here would be buffalo grass with a mix of gramma grass, timothy and crested wheatgrass. There are about 2,000 acres of land that has been hayed in the past. Currently the owners are haying about 800 acres. This hay land is a mixture of wheat grasses and some alfalfa. The owners usually put up between 500 tons and 800 tons per year, which has been plenty of hay for the livestock.

MINERAL RIGHTS: The owners do not know the exact extent of ownership regarding
oil, gas and mineral rights, but they will convey ½ of the owned
rights at closing.

SOILS: The soils are mainly fine sandy loams and clay loams good for
grazing and generally deeper sandy and clay loams in most of
the hay land.

CARRYING CAPACITY: The owners have comfortably been running approximately 240
cow/calf pairs year round, but this depends on weather, growing
season, grazing management and hay available. The brokers and
sellers make no actual guarantee or representation of the carrying
capacity of the ranch. The buyers will have to make their own
determination regarding the carrying capacity.

SCHOOLS: The nearest grade school and high school are located at Buffalo,
South Dakota about 6 miles east of the ranch.

FSA PAYMENT: The ranch has a 367.7 acre wheat base and a 133.1 acre oats base.
The 2007 FSA farm payment was $2,351.00.

WILDLIFE: The ranch has good hunting with mostly mule deer, antelope, and
whitetail deer.

POSSESSION: Negotiable.

LISTED PRICE: $2,732,000.00 or about $475.00 per acre.