Forward-Looking Statements and Terminology Used
This presentation includes forward-looking statements, which give the Company's current expectations or forecasts of future events
based on currently available information. Forward-looking statements are statements that are not historical facts, such as expectations
regarding drilling plans, including the acceleration thereof, production rates and guidance, resource potential, incremental
transportation capacity, exit rate guidance, net present value, development plans, progress on infrastructure projects, exposures to
weak natural gas prices, changes in the Company's liquidity, changes in acreage positions, expected expenses, expected capital
expenditures, and projected debt balances. The assumptions of management and the future performance of the Company are subject
to a wide range of business risks and uncertainties and there is no assurance that these statements and projections will be met. There
are risks and uncertainties associated with the Company’s recent acquisition of Permian Basin assets. Factors that could affect the
Company's business include, but are not limited to: the risks associated with drilling of oil and natural gas wells; the Company's ability
to find, acquire, market, develop, and produce new reserves; the risk of drilling dry holes; oil and natural gas price volatility; derivative
transactions (including the costs associated therewith and the abilities of counterparties to perform thereunder); uncertainties in the
estimation of proved, probable, and possible reserves and in the projection of future rates of production and reserve growth;
inaccuracies in the Company's assumptions regarding items of income and expense and the level of capital expenditures;
uncertainties in the timing of exploitation expenditures; operating hazards attendant to the oil and natural gas business; drilling and
completion losses that are generally not recoverable from third parties or insurance; potential mechanical failure or underperformance
of significant wells; availability and limitations of capacity in midstream marketing facilities, including processing plant and pipeline
construction difficulties and operational upsets; climatic conditions; availability and cost of material, supplies, equipment and services;
the risks associated with operating in a limited number of geographic areas; actions or inactions of third-party operators of the
Company's properties; the Company's ability to retain skilled personnel; diversion of management's attention from existing operations
while pursuing acquisitions or dispositions; availability of capital; the strength and financial resources of the Company's competitors;
regulatory developments; environmental risks; uncertainties in the capital markets; general economic and business conditions; industry
trends; and other factors detailed in the Company's most recent Form 10-K, Form 10-Q and other filings with the Securities and
Exchange Commission. If one or more of these risks or uncertainties materialize (or the consequences of such a development
changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected.
The Company undertakes no obligation to publicly update or revise any forward-looking statements except as required by law. For
filings reporting year-end 2013 reserves, the SEC permits the optional disclosure of probable and possible reserves. The Company
has elected not to report probable and possible reserves in its filings with the SEC. We use the term “net risked resources” or
“inventory” to describe the Company’s internal estimates of volumes of natural gas and oil that are not classified as proved reserves
but are potentially recoverable through exploratory drilling or additional drilling or recovery techniques. Estimates of unproved
resources are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater
risk of actually being realized by the Company. Estimates of unproved resources may change significantly as development provides
additional data, and actual quantities that are ultimately recovered may differ substantially from prior estimates.
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