CHANCELLOR GROUP INC. | 2013 | FY | 3


On December 31, 2013, the Company had the following outstanding warrants:
                                                                        Weighted
                                 Remaining                               Average
Exercise         Number of    Contractual Life   Exercise Price times   Exercise
 Price            Shares        (in years)         Number of Shares       Price
 -----            ------        ----------         ----------------       -----
$0.025          2,000,000          1                   $ 50,000
$0.020          4,000,000          1                     80,000
$0.125            500,000           .50                  62,500
$0.125            420,000          1.50                  52,500
                ---------                              --------
                6,920,000                              $245,000           $0.035
                =========                              ========
                                                                   Remaining
                                   Number of  Weighted Average  Contractual Life
        Warrants                    Shares     Exercise Price      (in years)
        --------                    ------     --------------      ----------
Outstanding at January 1, 2012     6,920,000       $0.035
                                   ---------       ------
Issued                                    --           --
Exercised                                 --           --
Expired/Cancelled                         --           --
                                   ---------       ------
Outstanding at January 1, 2013     6,920,000       $0.035
                                   ---------       ------
Issued                                    --           --
Exercised                                 --           --
Expired/Cancelled                         --           --
Outstanding at December 31, 2013   6,920,000       $0.035              1.0
                                   ---------       ------           ------
Exercisable at December 31, 2013   6,920,000       $0.035              1.0
                                   =========       ======           ======

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