Rosetta Resources 8-K All statements, other than statements of historical fact, included in this presentation are

Dahlman Rose & Co
March 12-13, 2008

2

Forward Looking Statements

All statements, other than statements of historical fact, included in this presentation are

“forward-looking” statements within the meaning of Section 27A of the Securities Act of

1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,

including  statements regarding the intent, belief or current expectations of Rosetta Resources

Inc. and its subsidiaries (the “Company”) and its management. These forward-looking statements

are based upon current expectations and are subject to a number of risks, uncertainties and

assumptions that could cause actual results to differ materially from those herein described.

Accordingly, you are cautioned that these forward-looking statements are not guarantees of future

performance. Please refer to Company’s risks, uncertainties and assumptions as it discloses from

time to time in the Company’s reports and registration statements filed with the SEC, including the

risk factors identified in its Annual Report on Form 10-K for the year ended December 31, 2007,

which can also be found on the Company’s website at www.rosettaresources.com.  The Company

undertakes no duty to update the information contained herein except as required by law.

3

Corporate Profile

•Rosetta established as a stand-alone operating

     company on July 7, 2005

•Stock trades on NASDAQ, symbol: “ROSE”

•Shares outstanding (Dil.)= 50.6 million

•Core areas include:

–Sacramento Basin

–DJ Basin

–Lobo

–Perdido

4

It’s A Great Time to Look at Rosetta

•Track record of solid performance

–Strong financial and operational results

–Favorable cost structure

–Balance sheet capacity

•High-quality asset base with core area focus

•Balanced plan in place for both growth and value creation

•Experienced management with passion and commitment

5

Record Financial Performance

	2007	2006
Average Production (MMcfe/day)	126	92
Realized Price ($/Mcfe)	$7.93	$8.13
Total Revenues ($MM)	$363.5	$271.8
Total Cash Costs ($/Mcfe)	$2.45	$2.63
Net Income ($MM)	$57.2	$44.6
EPS Diluted ($/Share)	$1.13	$0.88
Debt/Total Capital (as of year end)	22%	23%

6

Revolving Credit	$170
Second Lien Term	75
	$245

Financial Flexibility to Grow

•Hedged 68 BBtu/d for 2008 with swaps with an average price of $7.75 and

        5 BBtu/d of collars at $8.00 by $10.55

•Protected 2009 natural gas production with 52 BBtu/d swapped at an average

        price of $7.65 and 5 BBtu/d of collars at $8.00 by $10.05

•Protected 2010 natural gas production with 10 BBtu/d swapped at $8.31

•Revolving line of credit-conforming borrowing base of $350 MM

•$179 million unused capacity

•Currently have $245 million debt outstanding:

7

15%

2008 Range: 140-150 MMcfe/d

Range

(MMcfe/d)

Record Production Growth

8

($/MMcfe)

Improving Lifting Cost Performance

9

2007

2006

Proved = 408 Bcfe

Proved = 418 Bcfe

(Bcfe)

High-Quality Proved Reserve Base

10

(as of12/31/07)

Concentrated Asset Positions in Quality U.S. Basins

11

•Grow from identified core property inventory

•Extendexisting core areas into new opportunities

•Establish new resource-based core areas

•Pursue selective acquisitions and divestitures

•Leverage technological expertise

•Focus on cost control

•Maintain financial flexibility

Balanced Plan for Growth and Value Creation

12

2007 Program1

Total CapEx = $334

2008 Program

Total CapEx = $290

1) Includes OPEX Transaction at a cost of $39 million.

($MM)

2008 Capital Allocation Reflects Core Area Focus

13

Rockies

•73 Wells - Drill in 2008

•$24 MM - 2008 CapEx

California

•25 Wells - Drill in 2008

•$48 MM - 2008 CapEx

Perdido

•10 Wells - Drill in 2008

•$25 MM - 2008 CapEx

Lobo

•48 Wells - Drill in 2008

•$92 MM - 2008 CapEx

Offshore/State Waters

•0 Wells - Drill in 2008

•$4 MM - 2008 CapEx

70% of Capital Budget

Texas Other

•8 Wells - Drill in 2008

•$4 MM - 2008 CapEx

2008 Development Program Activity

14

Sacramento Basin

Rio Vista

•33,843 net acres under lease

•100 % working interest in RVGU and most deep leases

•137 producing wells

Sac Extension (including Opex)

•41,194 net acres under lease

•45 - 100% working interest

•36 producing wells

2007 Full Year Highlights

•Acquired Opex properties for $38.7 MM, effective 10/1/06

•Extended Martinez production on South Twitchell Island

       by drilling 5 successful wells

•Drilled development well on Opex Roaring River prospect

15

2007

•Acquired ~15,000 net acres (115,000 total net acres)

•Shot 34 mi2 of 3D seismic data(2 surveys)

•Drilled 69 wells (55 gas, 14 dry; 80% success)

•Producing 10 MMcf/d at year end

•100% completion of gas gathering for Vernon and

       Sandy Bluffs

2008 Plans

•Acquire approx 29 mi2 of 3D (7 surveys) in January

•Drill 60-70 wells

Location:	NE Colorado
Target Formation:	Beecher Island Chalk @ ~2,500 feet
Trap & Hydrocarbon Type:	Structural (fault-bounded), biogenic gas

DJ Basin Niobrara Project

16

General Information

•+/-81,000 acres

•~300 wells with over 100 drillable locations

2008 Plans

•Continue two rig drilling program Drilling 48 wells

•Acquire +120 square mile 3D over its SCR Ranch LOBO
properties to get full 3D coverage

•Add 6,000 net acres in the LOBO mainly in Schwarz
Rottermann area

South Texas - Lobo

17

Currently drilling

Perdido Acreage

2007 Upper Perdido locations

2007 Blue Delta Locations

2007 Red Delta Locations

Current horizontal producers

2007 Lower Perdido locations

General Information

•50% W.I. - 37.5% N.R.I.

•EOG is Operator

•+/- 9,000 net acres

•+/- 100 square miles of 3D seismic

•42 Producing Wells (23 verticals and 19
horizontals) - - over 50 drillable horizontal

       locations

2008 Activity

•Drill ten wells

South Texas - Perdido

18

Rockies - - DJ - Niobrara Play

•Land and seismic focused in core areas

•Investigating new opportunities

California - - Sacramento Basin

•Possible land and seismic purchase

•Winters Deep tests

Rockies - - San Juan Basin

•Potential Fruitland Coal farm-in & land
acquisitions

South Texas

•Lobo land and seismic purchase

•Perdido extension opportunities

2008 Exploration Focus Areas

19

Priorities for 2008

•Calpine Resolution

•Organization

–Fill key operations leadership roles

–Identify competencies and gaps

–Build essential operations and analytical functions

–Attract and retain quality workforce

•Resources

–Identify inventory in existing core positions

–Evaluate new basins and plays of interest

–Pursue M&A that makes sense

•Execution

–Focus on capital and cost efficiency

–Strive for differential performance

–Deliver on expectations

20

Outstanding Contract/Transition Issues

•Ongoing Rio Vista Gas Sales Contract

•Partial Settlement Complete

•Non-Consent Properties ($75 Million)

•Fraudulent ConveyanceResolution

•Calpine Emerged from Bankruptcy

•Report of Experts Due in March

•Complete Depositions in April

•Trial

21

It’s A Great Time to Look at Rosetta

•Track record of solid performance

–Strong financial and operational results

–Favorable cost structure

–Balance sheet capacity

•High-quality asset base with core area focus

•Balanced plan in place for both growth and value creation

•Experienced management with passion and commitment