Escalera Resources (ESCR) 8-K Regulation FD Disclosure

Double Eagle Petroleum 2004 Financial & Operating Update

Presented by
Stephen H Hollis CEO February, 2005
IPAA OGIS Meeting
W.Palm Beach, FL

DISCLAIMER

This presentation may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ materially from those projected, such as decreases in oil and gas prices and/or unexpected decreases in oil and gas production, is included in the Company's periodic reports filed with the Securities and Exchange Commission.

Double Eagle Petroleum Co. Rocky Mountain Natural Gas Exploration & Production Co. NASDAQ (Small Cap Market) “DBLE” Market Capitalization $150,000,000 (2-1-05)

TEN YEARS OF STOCK PRICE GROWTH

Double Eagle Petroleum 2004 Accomplishments

· Revenues + 92% 2004 vs 2003 (9/30)

· Cash Flow + 164% 2004 vs 2003 (9/30)

· Reserves + 33% 2003 vs 2002 (12/31)

o Production + 84% 2004 vs 2003 (9/30)

Double Eagle Operating CF

$(000S)	2002	2003	2004
Revenue	2,270	6,138	8,926
Operating Costs	1,012	1,989	2,426
G & A & Interest	947	1,425	1,101
Net Cash Flow *Unaudited	311	2,724	6,121

Double Eagle Proved Producing

*(a) 12/31 Year end

Double Eagle Replacing Reserves

Double Eagle Petroleum Capital Spending ($ millions)

Double Eagle 2003 Capital Spending

Development Spending $7.6 Million(75%)

Double Eagle Finding Costs $ / MCFE

Double Eagle Daily Production

Double Eagle Petroleum Co.

· Pinedale Anticline

· Eastern Washakie

· Christmas Meadows

Green River Basin Index Map

• Pinedale Anticline

• Down spacing to 20 acres

• Deeper Test

• Back - -in at the Mesa "C"

Green River Basin Index Map

Atlantic Rim Area

DOUBLE EAGLE INTEREST

Distribution of Cow Creek Cumulative Production

Cow Creek Cumulative Gas Production

Cow Creek Water and Gas Production

Green River Basin Index Map

Christmas Meadows Prospect

· Double Eagle owns 40,674 gross/ 21,372 net acres

· Double Eagle has 61% WI in first well *

· Drill depth 15,730 to test Frontier and Dakota

* Intends to convey a part of WI to one or more industry partners

PRODUCTION

DOUBLE EAGLE MONTHLY PRODUCTION

Double Eagle Quarterly Production Volumes and Revenue

Double Eagle 2005

· Continued Increase of Production With Low Risk Development Drilling at Pinedale and Eastern Washakie

· “Swing for the Fences” With Christmas Meadows