Mission & Profile

Mission

To increase the NAV per share of the Company and to create sustainable and profitable per share growth in reserves, production and cashflow through focused acquisitions and development and exploratory drilling.

Operating Characteristics

• Exited the third quarter or 2009 with production of approximately 2,250 boe/d (~80% gas weighted)
• Proved plus probable reserves of 14,945 Mboe*
• Proved reserves of 7,588 Mboe*
• Undeveloped land base of approximately 235,000 net acres
• H2/09 capital budget of $6 to 10 million

* Based on December 31, 2008 reserve evaluations for Grey Wolf by DeGolyer and McNaughton and for Insignia by GLJ Petroleum Consultants, adjusted for previously announced Retlaw disposition and Petitot production/reserve guidance.