Warren Resources (WRES) 8-K Entry into a Material Definitive Agreement

Exhibit 99.3

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES LOCATED IN CALIFORNIA, NEW MEXICO, PENNSYLVANIA, TEXAS, AND WYOMING

PERIOD ENDING M-D-Y	GROSS RESERVES							NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL			GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		406.6		0.0			14,662.4		332.2		0.0		8,783.0		38.420		0.000		1.774		12,763.5		0.0		15,579.4		28,342.9
12-31-2017		1,003.1		0.0			41,705.6		821.2		0.0		25,451.7		42.420		0.000		2.188		34,834.3		0.0		55,688.2		90,522.5
12-31-2018		1,111.6		0.0			50,419.8		911.8		0.0		30,554.0		44.100		0.000		2.326		40,208.1		0.0		71,055.0		111,263.1
12-31-2019		1,209.6		0.0			55,176.6		995.1		0.0		32,462.4		45.640		0.000		2.368		45,416.8		0.0		76,879.9		122,296.7
12-31-2020		1,411.7		0.0			43,499.1		1,158.2		0.0		25,786.8		46.920		0.000		2.531		54,344.8		0.0		65,266.0		119,610.8
12-31-2021		1,343.9		0.0			37,142.5		1,102.2		0.0		22,175.7		47.880		0.000		2.714		52,774.8		0.0		60,183.3		112,958.1
12-31-2022		1,203.7		0.0			31,733.9		987.8		0.0		18,996.1		48.780		0.000		2.897		48,182.3		0.0		55,029.0		103,211.3
12-31-2023		1,093.0		0.0	��		27,020.5		897.3		0.0		16,221.7		48.780		0.000		2.919		43,767.5		0.0		47,350.5		91,118.0
12-31-2024		994.1		0.0			22,793.5		816.2		0.0		13,740.6		48.780		0.000		2.919		39,813.5		0.0		40,104.0		79,917.5
12-31-2025		905.3		0.0			18,973.9		743.4		0.0		11,482.1		48.780		0.000		2.907		36,260.5		0.0		33,383.0		69,643.5
12-31-2026		820.9		0.0			15,844.5		674.2		0.0		9,616.1		48.780		0.000		2.893		32,885.3		0.0		27,814.3		60,699.6
12-31-2027		744.6		0.0			10,798.8		611.6		0.0		6,583.7		48.780		0.000		2.826		29,832.8		0.0		18,602.9		48,435.7
12-31-2028		674.1		0.0			8,474.9		553.7		0.0		5,192.1		48.780		0.000		2.781		27,011.2		0.0		14,437.4		41,448.6
12-31-2029		613.4		0.0			7,802.1		504.0		0.0		4,792.2		48.780		0.000		2.778		24,583.5		0.0		13,312.4		37,895.9
12-31-2030		559.0		0.0			7,224.2		459.3		0.0		4,448.4		48.780		0.000		2.775		22,406.3		0.0		12,345.2		34,751.5
SUBTOTAL		14,094.8		0.0			393,272.3		11,568.0		0.0		236,286.6		47.120		0.000		2.569		545,085.2		0.0		607,030.5		1,152,115.7
REMAINING		2,829.2		0.0			71,881.2		2,329.9		0.0		43,969.7		48.780		0.000		2.784		113,654.4		0.0		122,424.9		236,079.3
TOTAL		16,923.9		0.0			465,153.5		13,897.9		0.0		280,256.4		47.398		0.000		2.603		658,739.6		0.0		729,455.4		1,388,195.0
CUM PROD		155,890.7					435,447.2
ULTIMATE		172,814.6					900,600.7

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		341		283.2		627.9		504.0		158.8		0.0		15,731.5		11,320.7		11,320.7		11,105.7		8.000		245,234.5
12-31-2017		394		328.7		1,715.2		1,446.6		79,278.9		1,215.2		38,263.4		-31,396.8		-20,076.1		-18,681.5		12.000		185,755.5
12-31-2018		427		356.9		2,080.5		1,764.7		79,730.7		623.6		40,582.2		-13,518.6		-33,594.7		-30,539.5		15.000		152,448.7
12-31-2019		433		364.5		2,621.5		2,059.8		43,546.8		661.7		42,043.2		31,363.7		-2,231.0		-6,885.3		20.000		111,448.4
12-31-2020		448		379.5		2,779.8		2,408.2		22,721.5		779.1		42,244.4		48,677.8		46,446.8		26,548.1		25.000		82,701.2
12-31-2021		435		368.7		2,732.4		2,562.2		0.0		622.2		40,267.6		66,773.7		113,220.5		68,367.8		30.000		61,978.2
12-31-2022		490		410.6		2,533.7		2,428.3		0.0		622.2		34,024.6		63,602.5		176,823.0		104,600.3		35.000		46,669.5
12-31-2023		408		347.4		2,227.5		2,112.8		0.0		641.5		32,000.8		54,135.4		230,958.4		132,634.6		40.000		35,146.4
12-31-2024		389		332.8		1,898.9		1,771.1		0.0		662.3		30,338.9		45,246.3		276,204.7		153,936.7		45.000		26,320.7
12-31-2025		376		323.0		1,593.3		1,422.6		0.0		622.2		28,934.6		37,070.8		313,275.5		169,802.6		50.000		19,470.6
12-31-2026		365		314.5		1,274.3		1,123.3		0.0		659.8		27,662.2		29,980.0		343,255.5		181,465.5
12-31-2027		377		328.0		736.6		533.8		0.0		640.1		21,894.1		24,631.1		367,886.6		190,172.0
12-31-2028		216		202.1		456.1		295.6		0.0		12,223.5		18,767.3		9,706.1		377,592.7		193,220.4
12-31-2029		210		196.2		331.9		268.1		0.0		123.6		18,203.3		18,969.0		396,561.7		198,766.5
12-31-2030		207		193.2		286.1		245.1		0.0		123.6		17,722.4		16,374.3		412,936.0		203,118.5
SUBTOTAL						23,895.7		20,946.2		225,436.7		20,220.6		448,680.5		412,936.0		412,936.0		203,118.5
REMAINING						1,048.8		1,241.4		0.0		38,252.1		152,724.4		42,812.6		455,748.6		212,956.0
TOTAL OF 42.2 YRS						24,944.5		22,187.6		225,436.7		58,472.7		601,404.9		455,748.6		455,748.6		212,956.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES LOCATED IN CALIFORNIA, NEW MEXICO, PENNSYLVANIA, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		403.5		0.0		14,662.4		329.7		0.0		8,748.5		38.420		0.000		1.770		12,667.9		0.0		15,486.2		28,154.1
12-31-2017		881.9		0.0		29,708.1		720.9		0.0		17,789.6		42.420		0.000		2.276		30,579.2		0.0		40,484.6		71,063.8
12-31-2018		774.1		0.0		24,010.1		633.0		0.0		14,450.5		44.100		0.000		2.464		27,913.3		0.0		35,603.5		63,516.8
12-31-2019		688.5		0.0		19,815.3		563.2		0.0		12,000.8		45.640		0.000		2.520		25,706.0		0.0		30,238.9		55,944.9
12-31-2020		620.3		0.0		16,803.7		507.5		0.0		10,215.0		46.920		0.000		2.606		23,811.7		0.0		26,617.2		50,428.9
12-31-2021		559.3		0.0		14,181.8		457.7		0.0		8,631.3		47.880		0.000		2.724		21,914.5		0.0		23,508.5		45,423.0
12-31-2022		508.1		0.0		9,170.4		415.8		0.0		5,489.7		48.780		0.000		2.785		20,283.5		0.0		15,290.6		35,574.1
12-31-2023		461.7		0.0		7,557.6		378.0		0.0		4,523.4		48.780		0.000		2.760		18,437.9		0.0		12,484.3		30,922.2
12-31-2024		422.2		0.0		6,724.5		345.6		0.0		4,046.1		48.780		0.000		2.760		16,860.7		0.0		11,165.7		28,026.4
12-31-2025		386.8		0.0		6,030.5		316.7		0.0		3,651.0		48.780		0.000		2.759		15,449.1		0.0		10,074.3		25,523.4
12-31-2026		350.6		0.0		5,493.5		287.2		0.0		3,340.8		48.780		0.000		2.758		14,007.7		0.0		9,212.5		23,220.2
12-31-2027		257.9		0.0		5,025.9		209.5		0.0		3,073.2		48.780		0.000		2.758		10,217.7		0.0		8,475.7		18,693.4
12-31-2028		220.1		0.0		4,637.6		178.4		0.0		2,846.7		48.780		0.000		2.757		8,701.9		0.0		7,847.6		16,549.5
12-31-2029		198.7		0.0		4,318.9		161.1		0.0		2,654.1		48.780		0.000		2.753		7,855.7		0.0		7,306.4		15,162.1
12-31-2030		179.8		0.0		4,036.7		145.7		0.0		2,483.7		48.780		0.000		2.749		7,108.6		0.0		6,828.0		13,936.6
SUBTOTAL		6,913.4		0.0		172,176.9		5,649.9		0.0		103,944.5		46.287		0.000		2.507		261,515.4		0.0		260,624.0		522,139.4
REMAINING		135.0		0.0		38,459.6		109.4		0.0		23,227.0		48.780		0.000		2.804		5,337.0		0.0		65,117.4		70,454.4
TOTAL		7,048.4		0.0		210,636.4		5,759.3		0.0		127,171.5		46.334		0.000		2.561		266,852.4		0.0		325,741.4		592,593.8
CUM PROD		153,954.1				435,262.0
ULTIMATE		161,002.6				645,898.5

						NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF					TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET			M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		295		250.4			627.1		503.0		0.0		0.0		15,680.6		11,343.4		11,343.4		11,127.0		8.000		131,921.5
12-31-2017		293		248.8			1,514.1		1,317.9		0.0		1,215.2		35,910.8		31,105.8		42,449.2		39,692.8		12.000		115,934.6
12-31-2018		290		246.5	��		1,369.6		1,207.3		0.0		623.6		34,639.6		25,676.7		68,125.9		61,121.9		15.000		106,473.7
12-31-2019		272		233.0			1,350.7		1,084.2		0.0		661.7		33,398.1		19,450.2		87,576.1		75,873.5		20.000		94,011.9
12-31-2020		264		227.6			1,255.2		984.4		0.0		779.1		32,267.5		15,142.7		102,718.8		86,312.6		25.000		84,444.1
12-31-2021		250		216.0			1,080.9		854.2		0.0		622.2		29,244.8		13,620.9		116,339.7		94,801.6		30.000		76,877.9
12-31-2022		239		207.0			601.9		315.7		0.0		622.2		16,771.3		17,263.0		133,602.7		104,626.6		35.000		70,750.2
12-31-2023		156		142.7			465.3		203.2		0.0		12,167.3		15,148.3		2,938.1		136,540.8		105,927.5		40.000		65,684.4
12-31-2024		152		140.2			393.4		184.9		0.0		662.3		14,678.1		12,107.7		148,648.5		111,617.4		45.000		61,433.1
12-31-2025		150		138.3			352.4		169.4		0.0		708.4		14,281.1		10,012.1		158,660.6		115,893.1		50.000		57,815.2
12-31-2026		144		133.8			271.2		154.0		0.0		659.8		13,815.4		8,319.8		166,980.4		119,121.5
12-31-2027		140		130.6			209.3		112.0		0.0		640.1		10,890.2		6,841.8		173,822.2		121,533.6
12-31-2028		109		100.4			151.2		95.3		0.0		7,017.4		9,994.3		-708.7		173,113.5		121,228.0
12-31-2029		105		96.5			90.7		85.7		0.0		123.6		9,698.7		5,163.4		178,276.9		122,737.9
12-31-2030		102		93.5			59.3		77.7		0.0		123.6		9,448.2		4,227.8		182,504.7		123,861.2
SUBTOTAL							9,792.3		7,348.9		0.0		26,626.5		295,867.0		182,504.7		182,504.7		123,861.2
REMAINING							35.9		58.4		0.0		23,795.2		43,509.0		3,055.9		185,560.6		123,357.4
TOTAL OF 42.2 YRS							9,828.2		7,407.3		0.0		50,421.7		339,376.0		185,560.6		185,560.6		123,357.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES LOCATED IN CALIFORNIA, NEW MEXICO, PENNSYLVANIA, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		3.1		0.0		0.0		2.5		0.0		34.5		38.420		0.000		2.702		95.6		0.0		93.2		188.8
12-31-2017		48.9		0.0		1,634.4		39.6		0.0		956.6		42.420		0.000		2.301		1,679.8		0.0		2,200.9		3,880.7
12-31-2018		95.5		0.0		4,125.6		77.5		0.0		2,421.1		44.100		0.000		2.622		3,418.7		0.0		6,347.7		9,766.4
12-31-2019		132.7		0.0		6,355.5		107.7		0.0		3,714.8		45.640		0.000		2.716		4,914.4		0.0		10,088.5		15,002.9
12-31-2020		128.1		0.0		7,988.1		103.9		0.0		4,676.8		46.920		0.000		2.808		4,875.3		0.0		13,130.0		18,005.3
12-31-2021		113.0		0.0		9,481.7		91.7		0.0		5,609.1		47.880		0.000		2.934		4,390.2		0.0		16,459.1		20,849.3
12-31-2022		100.6		0.0		11,931.8		81.6		0.0		7,207.5		48.780		0.000		3.086		3,982.0		0.0		22,240.9		26,222.9
12-31-2023		89.3		0.0		10,606.8		72.5		0.0		6,426.1		48.780		0.000		3.086		3,535.7		0.0		19,827.8		23,363.5
12-31-2024		79.5		0.0		8,501.7		64.5		0.0		5,175.7		48.780		0.000		3.083		3,146.3		0.0		15,955.9		19,102.2
12-31-2025		72.0		0.0		6,541.6		58.4		0.0		4,010.1		48.780		0.000		3.079		2,848.7		0.0		12,346.8		15,195.5
12-31-2026		64.7		0.0		4,882.7		52.5		0.0		3,016.6		48.780		0.000		3.074		2,561.1		0.0		9,273.6		11,834.7
12-31-2027		56.9		0.0		1,417.4		46.2		0.0		939.2		48.780		0.000		3.031		2,252.3		0.0		2,847.2		5,099.5
12-31-2028		50.5		0.0		123.8		41.0		0.0		163.6		48.780		0.000		2.744		1,998.5		0.0		448.7		2,447.2
12-31-2029		45.7		0.0		112.8		37.1		0.0		156.9		48.780		0.000		2.741		1,807.3		0.0		430.1		2,237.4
12-31-2030		41.1		0.0		103.7		33.4		0.0		151.2		48.780		0.000		2.739		1,628.2		0.0		414.2		2,042.4
SUBTOTAL		1,121.6		0.0		73,807.7		910.0		0.0		44,659.7		47.402		0.000		2.958		43,134.1		0.0		132,104.6		175,238.7
REMAINING		159.3		0.0		800.2		129.3		0.0		1,109.8		48.780		0.000		2.744		6,304.8		0.0		3,045.3		9,350.1
TOTAL		1,280.9		0.0		74,607.9		1,039.2		0.0		45,769.5		47.573		0.000		2.953		49,438.9		0.0		135,149.9		184,588.8
CUM PROD		1,936.6				185.1
ULTIMATE		3,217.5				74,793.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		46		32.8		0.8		1.0		158.8		0.0		50.9		-22.7		-22.7		-21.3		8.000		44,333.4
12-31-2017		71		53.0		75.2		93.3		6,915.8		0.0		773.4		-3,977.0		-3,999.7		-3,666.3		12.000		35,152.9
12-31-2018		90		69.4		350.3		431.9		5,004.6		0.0		2,170.8		1,808.8		-2,190.9		-2,185.7		15.000		29,812.1
12-31-2019		102		79.8		594.5		732.9		4,154.2		0.0		3,421.0		6,100.3		3,909.4		2,405.5		20.000		22,977.6
12-31-2020		111		86.4		784.7		964.8		3,639.6		0.0		4,069.8		8,546.4		12,455.8		8,293.5		25.000		17,968.1
12-31-2021		112		87.2		986.2		1,208.9		0.0		0.0		4,535.1		14,119.1		26,574.9		17,131.6		30.000		14,218.4
12-31-2022		178		138.1		1,337.0		1,631.9		0.0		0.0		9,593.0		13,661.0		40,235.9		24,919.1		35.000		11,351.1
12-31-2023		179		139.1		1,190.1		1,453.9		0.0		0.0		9,913.9		10,805.6		51,041.5		30,523.1		40.000		9,133.5
12-31-2024		164		127.1		957.4		1,165.6		0.0		0.0		9,274.4		7,704.8		58,746.3		34,158.2		45.000		7,380.4
12-31-2025		153		119.1		741.1		896.8		0.0		-86.2		8,747.1		4,896.7		63,643.0		36,260.8		50.000		5,984.9
12-31-2026		148		115.1		546.8		670.7		0.0		0.0		8,306.9		2,310.3		65,953.3		37,164.5
12-31-2027		143		110.8		158.1		199.0		0.0		0.0		3,300.5		1,441.9		67,395.2		37,674.3
12-31-2028		23		22.6		13.5		21.8		0.0		0.0		1,161.7		1,250.2		68,645.4		38,076.7
12-31-2029		22		21.6		11.7		19.8		0.0		0.0		1,118.7		1,087.2		69,732.6		38,394.8
12-31-2030		22		21.6		10.8		17.5		0.0		0.0		1,073.7		940.4		70,673.0		38,644.9
SUBTOTAL						7,758.2		9,509.8		19,873.0		-86.2		67,510.9		70,673.0		70,673.0		38,644.9
REMAINING						42.0		68.8		0.0		86.2		5,267.4		3,885.7		74,558.7		39,402.6
TOTAL OF 42.2 YRS						7,800.2		9,578.6		19,873.0		0.0		72,778.3		74,558.7		74,558.7		39,402.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES LOCATED IN CALIFORNIA, NEW MEXICO, PENNSYLVANIA, TEXAS, AND WYOMING

PERIOD		GROSS RESERVES						NET RESERVES							AVERAGE PRICES						GROSS REVENUE
ENDING		OIL		NGL		GAS		OIL		NGL		GAS			OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y		MBBL		MBBL		MMCF		MBBL		MBBL		MMCF			$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016	��		0.0		0.0		0.0		0.0		0.0		0.0			0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017			72.3		0.0		10,363.0		60.7		0.0		6,705.5			42.420		0.000		1.939		2,575.3		0.0		13,002.7		15,578.0
12-31-2018			242.0		0.0		22,284.2		201.3		0.0		13,682.4			44.100		0.000		2.127		8,876.1		0.0		29,103.8		37,979.9
12-31-2019			388.3		0.0		29,005.8		324.2		0.0		16,746.7			45.640		0.000		2.183		14,796.4		0.0		36,552.5		51,348.9
12-31-2020			663.4		0.0		18,707.4		546.8		0.0		10,895.0			46.920		0.000		2.342		25,657.8		0.0		25,518.8		51,176.6
12-31-2021			671.6		0.0		13,478.9		552.8		0.0		7,935.3			47.880		0.000		2.548		26,470.1		0.0		20,215.7		46,685.8
12-31-2022			595.0		0.0		10,631.7		490.3		0.0		6,299.0			48.780		0.000		2.778		23,916.8		0.0		17,497.5		41,414.3
12-31-2023			542.0		0.0		8,856.2		446.8		0.0		5,272.2			48.780		0.000		2.853		21,793.9		0.0		15,038.4		36,832.3
12-31-2024			492.5		0.0		7,567.3		406.0		0.0		4,518.7			48.780		0.000		2.873		19,806.5		0.0		12,982.4		32,788.9
12-31-2025			446.6		0.0		6,401.8		368.3		0.0		3,821.0			48.780		0.000		2.869		17,962.7		0.0		10,961.9		28,924.6
12-31-2026			405.6		0.0		5,468.2		334.5		0.0		3,258.8			48.780		0.000		2.863		16,316.5		0.0		9,328.2		25,644.7
12-31-2027			429.9		0.0		4,355.5		355.9		0.0		2,571.3			48.780		0.000		2.831		17,362.8		0.0		7,280.0		24,642.8
12-31-2028			403.5		0.0		3,713.5		334.4		0.0		2,181.8	��		48.780		0.000		2.815		16,310.8		0.0		6,141.1		22,451.9
12-31-2029			369.1		0.0		3,370.5		305.9		0.0		1,981.2			48.780		0.000		2.814		14,920.5		0.0		5,575.9		20,496.4
12-31-2030			338.1		0.0		3,083.7		280.2		0.0		1,813.5			48.780		0.000		2.814		13,669.5		0.0		5,103.0		18,772.5
SUBTOTAL			6,059.8		0.0		147,287.8		5,008.1		0.0		87,682.5			48.009		0.000		2.444		240,435.7		0.0		214,301.9		454,737.6
REMAINING			2,534.8		0.0		32,621.4		2,091.3		0.0		19,633.0			48.780		0.000		2.764		102,012.6		0.0		54,262.2		156,274.8
TOTAL			8,594.6		0.0		179,909.2		7,099.4		0.0		107,315.4			48.236		0.000		2.503		342,448.3		0.0		268,564.1		611,012.4
CUM PROD			0.0				0.0
ULTIMATE			8,594.6				179,909.2

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		68,979.6
12-31-2017		30		26.9		125.9		35.4		72,363.1		0.0		1,579.2		-58,525.6		-58,525.6		-54,708.0		12.000		34,668.0
12-31-2018		47		40.9		360.6		125.5		74,726.1		0.0		3,771.8		-41,004.1		-99,529.7		-89,475.7		15.000		16,162.9
12-31-2019		59		51.7		676.3		242.7		39,392.6		0.0		5,224.1		5,813.2		-93,716.5		-85,164.3		20.000		-5,541.1
12-31-2020		73		65.6		739.9		459.0		19,081.9		0.0		5,907.1		24,988.7		-68,727.8		-68,058.0		25.000		-19,711.0
12-31-2021		73		65.6		665.3		499.1		0.0		0.0		6,487.7		39,033.7		-29,694.1		-43,565.4		30.000		-29,118.1
12-31-2022		73		65.6		594.8		480.7		0.0		0.0		7,660.3		32,678.5		2,984.4		-24,945.4		35.000		-35,431.8
12-31-2023		73		65.6		572.1		455.7		0.0		-11,525.8		6,938.6		40,391.7		43,376.1		-3,816.0		40.000		-39,671.5
12-31-2024		73		65.6		548.1		420.6		0.0		0.0		6,386.4		25,433.8		68,809.9		8,161.1		45.000		-42,492.8
12-31-2025		73		65.6		499.8		356.4		0.0		0.0		5,906.4		22,162.0		90,971.9		17,648.7		50.000		-44,329.5
12-31-2026		73		65.6		456.3		298.6		0.0		0.0		5,539.9		19,349.9		110,321.8		25,179.5
12-31-2027		94		86.6		369.2		222.8		0.0		0.0		7,703.4		16,347.4		126,669.2		30,964.1
12-31-2028		84		79.1		291.4		178.5		0.0		5,206.1		7,611.3		9,164.6		135,833.8		33,915.7
12-31-2029		83		78.1		229.5		162.6		0.0		0.0		7,385.9		12,718.4		148,552.2		37,633.8
12-31-2030		83		78.1		216.0		149.9		0.0		0.0		7,200.5		11,206.1		159,758.3		40,612.4
SUBTOTAL						6,345.2		4,087.5		205,563.7		-6,319.7		85,302.6		159,758.3		159,758.3		40,612.4
REMAINING						970.9		1,114.2		0.0		14,370.7		103,948.0		35,871.0		195,629.3		50,196.0
TOTAL OF 42.2 YRS						7,316.1		5,201.7		205,563.7		8,051.0		189,250.6		195,629.3		195,629.3		50,196.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES LOCATED IN CALIFORNIA, NEW MEXICO, PENNSYLVANIA, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		4,367.7		0.0		0.0		3,002.0		0.000		0.000		1.935		0.0		0.0		5,808.8		5,808.8
12-31-2018		8.5		0.0		5,882.0		7.2		0.0		4,021.5		44.100		0.000		2.121		318.8		0.0		8,529.6		8,848.4
12-31-2019		61.6		0.0		11,629.3		52.2		0.0		7,163.9		45.640		0.000		2.155		2,381.0		0.0		15,438.2		17,819.2
12-31-2020		49.1		0.0		7,613.1		41.4		0.0		4,656.2		46.920		0.000		2.240		1,943.6		0.0		10,429.8		12,373.4
12-31-2021		288.2		0.0		5,105.0		234.9		0.0		3,146.9		47.880		0.000		2.365		11,246.2		0.0		7,442.2		18,688.4
12-31-2022		530.1		0.0		3,859.7		430.7		0.0		2,388.4		48.780		0.000		2.515		21,011.9		0.0		6,006.9		27,018.8
12-31-2023		1,041.4		0.0		3,105.7		846.4		0.0		1,926.2		48.780		0.000		2.534		41,289.2		0.0		4,881.4		46,170.6
12-31-2024		1,330.0		0.0		2,598.1		1,080.3		0.0		1,613.7		48.780		0.000		2.702		52,695.6		0.0		4,360.1		57,055.7
12-31-2025		1,185.4		0.0		2,232.5		963.1		0.0		1,388.0		48.780		0.000		2.791		46,979.4		0.0		3,874.1		50,853.5
12-31-2026		979.4		0.0		1,956.5		795.8		0.0		1,217.2		48.780		0.000		2.800		38,819.2		0.0		3,408.0		42,227.2
12-31-2027		849.2		0.0		1,740.6		690.1		0.0		1,083.5		48.780		0.000		2.800		33,661.7		0.0		3,033.4		36,695.1
12-31-2028		745.9		0.0		1,567.2		606.2		0.0		975.9		48.780		0.000		2.800		29,571.5		0.0		2,732.2		32,303.7
12-31-2029		661.7		0.0		1,424.9		537.8		0.0		887.5		48.780		0.000		2.799		26,233.4		0.0		2,484.6		28,718.0
12-31-2030		592.5		0.0		1,305.9		481.6		0.0		813.6		48.780		0.000		2.799		23,494.6		0.0		2,277.7		25,772.3
SUBTOTAL		8,322.9		0.0		54,388.2		6,767.7		0.0		34,284.5		48.708		0.000		2.354		329,646.1		0.0		80,707.0		410,353.1
REMAINING		5,103.7		0.0		14,911.4		4,144.6		0.0		10,300.6		48.780		0.000		2.689		202,174.5		0.0		27,700.1		229,874.6
TOTAL		13,426.6		0.0		69,299.6		10,912.4		0.0		44,585.1		48.735		0.000		2.431		531,820.6		0.0		108,407.1		640,227.7
CUM PROD		0.0				0.0
ULTIMATE		13,426.6				69,299.6

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		103,340.7
12-31-2017		2		1.7		42.3		0.0		12,511.0		0.0		476.2		-7,220.7		-7,220.7		-6,974.5		12.000		63,149.2
12-31-2018		6		5.6		80.5		3.5		15,422.6		0.0		709.0		-7,367.2		-14,587.9		-12,923.8		15.000		43,845.7
12-31-2019		9		7.6		188.0		26.0		9,486.9		0.0		1,514.2		6,604.1		-7,983.8		-8,162.3		20.000		23,636.0
12-31-2020		9		7.6		176.1		21.2		4,058.7		0.0		1,179.5		6,937.9		-1,045.9		-3,237.7		25.000		12,052.6
12-31-2021		23		21.5		201.8		122.9		27,964.9		0.0		2,237.3		-11,838.5		-12,884.4		-10,629.8		30.000		5,164.5
12-31-2022		34		32.3		238.9		229.0		30,428.1		0.0		4,020.2		-7,897.4		-20,781.8		-15,145.7		35.000		950.7
12-31-2023		59		57.1		367.0		450.5		33,255.3		0.0		5,939.5		6,158.3		-14,623.5		-11,997.5		40.000		-1,692.1
12-31-2024		81		78.8		442.2		575.9		29,848.1		0.0		7,446.0		18,743.5		4,120.0		-3,144.4		45.000		-3,371.0
12-31-2025		84		81.8		405.7		513.3		0.0		0.0		7,421.5		42,513.0		46,633.0		15,073.3		50.000		-4,451.2
12-31-2026		84		81.8		350.7		424.7		0.0		0.0		6,741.0		34,710.8		81,343.8		28,585.2
12-31-2027		84		81.8		306.4		368.0		0.0		0.0		6,297.1		29,723.6		111,067.4		39,102.8
12-31-2028		84		81.8		270.3		323.1		0.0		0.0		5,944.3		25,766.0		136,833.4		47,391.0
12-31-2029		84		81.8		226.5		286.4		0.0		0.0		5,655.2		22,549.9		159,383.3		53,983.3
12-31-2030		84		81.8		202.6		256.6		0.0		0.0		5,416.7		19,896.4		179,279.7		59,270.6
SUBTOTAL						3,499.0		3,601.1		162,975.6		0.0		60,997.7		179,279.7		179,279.7		59,270.6
REMAINING						1,461.5		2,210.2		0.0		8,029.4		106,095.1		112,078.4		291,358.1		80,662.7
TOTAL OF 43.1 YRS						4,960.5		5,811.3		162,975.6		8,029.4		167,092.8		291,358.1		291,358.1		80,662.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES LOCATED IN CALIFORNIA, NEW MEXICO, PENNSYLVANIA, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		2,509.6		0.0		0.0		1,583.5		0.000		0.000		1.935		0.0		0.0		3,064.1		3,064.1
12-31-2018		2.8		0.0		7,197.8		2.3		0.0		4,373.8		44.100		0.000		2.121		103.5		0.0		9,276.8		9,380.3
12-31-2019		22.3		0.0		12,601.9		18.9		0.0		7,162.7		45.640		0.000		2.155		863.2		0.0		15,435.5		16,298.7
12-31-2020		38.7		0.0		13,758.3		32.0		0.0		7,528.7		46.920		0.000		2.240		1,501.9		0.0		16,864.2		18,366.1
12-31-2021		40.8		0.0		8,296.2		33.6		0.0		4,581.6		47.880		0.000		2.365		1,610.6		0.0		10,835.5		12,446.1
12-31-2022		40.3		0.0		8,662.6		33.1		0.0		4,359.1		48.780		0.000		2.515		1,616.3		0.0		10,963.4		12,579.7
12-31-2023		118.4		0.0		7,781.8		96.9		0.0		3,706.0		48.780		0.000		2.515		4,725.6		0.0		9,320.8		14,046.4
12-31-2024		203.6		0.0		5,646.0		165.9		0.0		2,791.3		48.780		0.000		2.517		8,091.0		0.0		7,024.3		15,115.3
12-31-2025		536.5		0.0		4,541.2		435.6		0.0		2,283.2		48.780		0.000		2.594		21,248.0		0.0		5,923.5		27,171.5
12-31-2026		1,013.3		0.0		3,825.6		822.0		0.0		1,942.4		48.780		0.000		2.735		40,096.3		0.0		5,312.3		45,408.6
12-31-2027		1,044.7		0.0		3,314.1		848.4		0.0		1,693.5		48.780		0.000		2.846		41,385.8		0.0		4,819.2		46,205.0
12-31-2028		897.2		0.0		2,927.0		729.3		0.0		1,502.5		48.780		0.000		2.860		35,573.2		0.0		4,297.4		39,870.6
12-31-2029		778.3		0.0		2,622.3		632.8		0.0		1,350.7		48.780		0.000		2.859		30,870.0		0.0		3,861.6		34,731.6
12-31-2030		689.5		0.0		2,375.8		560.8		0.0		1,226.8		48.780		0.000		2.858		27,353.8		0.0		3,506.2		30,860.0
SUBTOTAL		5,426.4		0.0		86,060.2		4,411.7		0.0		46,085.9		48.744		0.000		2.398		215,039.2		0.0		110,504.8		325,544.0
REMAINING		6,203.8		0.0		29,852.9		5,040.1		0.0		16,356.6		48.780		0.000		2.806		245,855.9		0.0		45,893.8		291,749.7
TOTAL		11,630.1		0.0		115,913.1		9,451.8		0.0		62,442.5		48.763		0.000		2.505		460,895.1		0.0		156,398.6		617,293.7
CUM PROD		0.0				0.0
ULTIMATE		11,630.1				115,913.1

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		132,649.9
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		202.8		2,861.3		2,861.3		2,564.7		12.000		87,951.8
12-31-2018		0		0.0		0.8		1.2		0.0		0.0		572.1		8,806.2		11,667.5		9,825.8		15.000		67,222.2
12-31-2019		3		2.0		38.2		9.5		18,310.3		0.0		1,062.4		-3,121.7		8,545.8		7,544.0		20.000		45,788.7
12-31-2020		4		2.7		135.1		16.5		0.0		0.0		1,293.4		16,921.1		25,466.9		19,244.5		25.000		33,331.2
12-31-2021		4		2.7		112.2		17.7		1,325.5		0.0		1,337.8		9,652.9		35,119.8		25,339.3		30.000		25,577.3
12-31-2022		6		3.6		107.9		17.5		4,573.0		0.0		2,781.0		5,100.3		40,220.1		28,192.5		35.000		20,445.1
12-31-2023		6		3.6		126.2		51.7		0.0		0.0		2,670.7		11,197.8		51,417.9		33,970.6		40.000		16,884.3
12-31-2024		6		3.6		138.9		88.3		0.0		0.0		2,404.5		12,483.6		63,901.5		39,852.0		45.000		14,300.3
12-31-2025		26		23.3		217.4		232.6		33,298.3		0.0		3,417.0		-9,993.8		53,907.7		35,521.1		50.000		12,355.9
12-31-2026		42		39.2		338.9		438.7		29,356.2		0.0		5,327.1		9,947.7		63,855.4		39,394.1
12-31-2027		48		45.1		346.5		452.1		5,941.7		0.0		5,763.1		33,701.6		97,557.0		51,246.6
12-31-2028		48		45.1		307.6		388.1		0.0		0.0		5,258.0		33,916.9		131,473.9		62,156.0
12-31-2029		48		45.1		270.6		337.0		0.0		0.0		4,836.5		29,287.5		160,761.4		70,720.0
12-31-2030		48		45.1		227.3		298.6		0.0		0.0		4,516.7		25,817.4		186,578.8		77,581.5
SUBTOTAL						2,367.6		2,349.5		92,805.0		0.0		41,443.1		186,578.8		186,578.8		77,581.5
REMAINING						1,809.0		2,687.1		0.0		4,365.6		98,143.5		184,744.5		371,323.3		107,156.7
TOTAL OF 43.1 YRS						4,176.6		5,036.6		92,805.0		4,365.6		139,586.6		371,323.3		371,323.3		107,156.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES CALIFORNIA BUSINESS UNIT CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		406.2		0.0		0.0		332.1		0.0		57.4		38.420		0.000		1.625		12,760.6		0.0		93.2		12,853.8
12-31-2017		1,002.5		0.0		0.0		821.0		0.0		137.6		42.420		0.000		1.625		34,828.4		0.0		223.7		35,052.1
12-31-2018		1,111.1		0.0		0.0		911.7		0.0		137.6		44.100		0.000		1.625		40,203.6		0.0		223.7		40,427.3
12-31-2019		1,209.2		0.0		0.0		995.0		0.0		137.6		45.640		0.000		1.625		45,413.3		0.0		223.7		45,637.0
12-31-2020		1,411.5		0.0		0.0		1,158.2		0.0		137.6		46.920		0.000		1.625		54,342.1		0.0		223.7		54,565.8
12-31-2021		1,343.7		0.0		0.0		1,102.2		0.0		137.6		47.880		0.000		1.625		52,772.7		0.0		223.7		52,996.4
12-31-2022		1,203.5		0.0		0.0		987.7		0.0		137.6		48.780		0.000		1.625		48,180.6		0.0		223.7		48,404.3
12-31-2023		1,092.9		0.0		0.0		897.2		0.0		137.6		48.780		0.000		1.625		43,766.4		0.0		223.7		43,990.1
12-31-2024		994.1		0.0		0.0		816.2		0.0		137.6		48.780		0.000		1.625		39,812.9		0.0		223.7		40,036.6
12-31-2025		905.3		0.0		0.0		743.3		0.0		137.6		48.780		0.000		1.625		36,260.1		0.0		223.7		36,483.8
12-31-2026		820.9		0.0		0.0		674.2		0.0		137.6		48.780		0.000		1.625		32,885.1		0.0		223.7		33,108.8
12-31-2027		744.6		0.0		0.0		611.6		0.0		137.6		48.780		0.000		1.625		29,832.7		0.0		223.7		30,056.4
12-31-2028		674.1		0.0		0.0		553.7		0.0		137.6		48.780		0.000		1.625		27,011.2		0.0		223.7		27,234.9
12-31-2029		613.4		0.0		0.0		504.0		0.0		137.6		48.780		0.000		1.625		24,583.5		0.0		223.7		24,807.2
12-31-2030		559.0		0.0		0.0		459.3		0.0		137.6		48.780		0.000		1.625		22,406.3		0.0		223.7		22,630.0
SUBTOTAL		14,092.1		0.0		0.0		11,567.4		0.0		1,984.3		47.120		0.000		1.625		545,059.5		0.0		3,225.0		548,284.5
REMAINING		2,829.2		0.0		0.0		2,329.9		0.0		1,000.1		48.780		0.000		1.622		113,654.4		0.0		1,621.9		115,276.3
TOTAL		16,921.3		0.0		0.0		13,897.4		0.0		2,984.4		47.398		0.000		1.624		658,713.9		0.0		4,846.9		663,560.8
CUM PROD		155,635.4				56,320.5
ULTIMATE		172,556.7				56,320.5

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		137		135.8		107.9		139.7		158.8		0.0		5,464.3		6,983.1		6,983.1		6,852.4		8.000		109,102.4
12-31-2017		161		159.7		266.0		380.3		40,977.9		625.0		13,563.5		-20,760.6		-13,777.5		-12,543.5		12.000		80,868.9
12-31-2018		178		176.5		295.2		438.8		25,868.9		623.6		14,461.0		-1,260.2		-15,037.7		-13,800.9		15.000		64,856.3
12-31-2019		188		186.4		323.2		495.8		32,776.3		623.6		15,242.1		-3,824.0		-18,861.7		-16,715.2		20.000		45,181.8
12-31-2020		201		199.3		375.4		593.3		19,081.9		622.2		16,341.1		17,551.9		-1,309.8		-4,777.9		25.000		31,593.7
12-31-2021		196		194.4		356.0		576.6		0.0		622.2		16,230.3		35,211.3		33,901.5		17,280.0		30.000		22,024.8
12-31-2022		193		191.4		320.9		526.9		0.0		622.2		15,732.6		31,201.7		65,103.2		35,043.5		35.000		15,146.1
12-31-2023		190		188.4		290.6		478.3		0.0		622.2		15,252.0		27,347.0		92,450.2		49,195.1		40.000		10,116.0
12-31-2024		187		185.4		264.3		434.5		0.0		622.2		14,867.8		23,847.8		116,298.0		60,412.6		45.000		6,391.1
12-31-2025		185		183.5		240.8		395.8		0.0		622.2		14,569.9		20,655.1		136,953.1		69,244.2		50.000		3,594.2
12-31-2026		181		179.5		218.2		359.6		0.0		622.2		14,112.1		17,796.7		154,749.8		76,159.8
12-31-2027		197		195.5		198.5		326.2		0.0		622.2		13,665.7		15,243.8		169,993.6		81,545.1
12-31-2028		167		165.6		179.3		295.6		0.0		123.6		13,170.5		13,465.9		183,459.5		85,876.0
12-31-2029		161		159.7		163.0		268.1		0.0		123.6		12,827.9		11,424.6		194,884.1		89,216.3
12-31-2030		158		156.7		149.3		245.1		0.0		123.6		12,537.1		9,574.9		204,459.0		91,761.4
SUBTOTAL						3,748.6		5,954.6		118,863.8		7,220.6		208,037.9		204,459.0		204,459.0		91,761.4
REMAINING						756.4		1,241.4		0.0		34,599.9		83,807.9		-5,129.3		199,329.7		93,863.8
TOTAL OF 24.0 YRS						4,505.0		7,196.0		118,863.8		41,820.5		291,845.8		199,329.7		199,329.7		93,863.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES CALIFORNIA BUSINESS UNIT CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		403.2		0.0		0.0		329.6		0.0		22.9		38.420		0.000		0.000		12,665.0		0.0		0.0		12,665.0
12-31-2017		881.3		0.0		0.0		720.7		0.0		54.9		42.420		0.000		0.000		30,573.3		0.0		0.0		30,573.3
12-31-2018		773.6		0.0		0.0		632.9		0.0		54.9		44.100		0.000		0.000		27,908.8		0.0		0.0		27,908.8
12-31-2019		688.2		0.0		0.0		563.1		0.0		54.9		45.640		0.000		0.000		25,702.5		0.0		0.0		25,702.5
12-31-2020		620.0		0.0		0.0		507.4		0.0		54.9		46.920		0.000		0.000		23,809.0		0.0		0.0		23,809.0
12-31-2021		559.1		0.0		0.0		457.7		0.0		54.9		47.880		0.000		0.000		21,912.4		0.0		0.0		21,912.4
12-31-2022		507.9		0.0		0.0		415.8		0.0		54.9		48.780		0.000		0.000		20,281.8		0.0		0.0		20,281.8
12-31-2023		461.6		0.0		0.0		378.0		0.0		54.9		48.780		0.000		0.000		18,436.8		0.0		0.0		18,436.8
12-31-2024		422.1		0.0		0.0		345.6		0.0		54.9		48.780		0.000		0.000		16,860.1		0.0		0.0		16,860.1
12-31-2025		386.8		0.0		0.0		316.7		0.0		54.9		48.780		0.000		0.000		15,448.7		0.0		0.0		15,448.7
12-31-2026		350.6		0.0		0.0		287.2		0.0		54.9		48.780		0.000		0.000		14,007.5		0.0		0.0		14,007.5
12-31-2027		257.8		0.0		0.0		209.5		0.0		53.5		48.780		0.000		0.000		10,217.6		0.0		0.0		10,217.6
12-31-2028		220.1		0.0		0.0		178.4		0.0		53.2		48.780		0.000		0.000		8,701.9		0.0		0.0		8,701.9
12-31-2029		198.7		0.0		0.0		161.1		0.0		53.2		48.780		0.000		0.000		7,855.7		0.0		0.0		7,855.7
12-31-2030		179.8		0.0		0.0		145.7		0.0		53.2		48.780		0.000		0.000		7,108.6		0.0		0.0		7,108.6
SUBTOTAL		6,910.8		0.0		0.0		5,649.4		0.0		784.4		46.287		0.000		0.000		261,489.7		0.0		0.0		261,489.7
REMAINING		135.0		0.0		0.0		109.4		0.0		44.3		48.780		0.000		0.000		5,337.0		0.0		0.0		5,337.0
TOTAL		7,045.8		0.0		0.0		5,758.8		0.0		828.8		46.334		0.000		0.000		266,826.7		0.0		0.0		266,826.7
CUM PROD		153,698.8				56,182.6
ULTIMATE		160,744.6				56,182.6

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		136		134.8		107.1		138.7		0.0		0.0		5,413.4		7,005.8		7,005.8		6,873.7		8.000		68,491.8
12-31-2017		136		134.8		233.2		333.8		0.0		625.0		12,737.7		16,643.6		23,649.4		22,131.8		12.000		63,253.4
12-31-2018		136		134.8		205.2		304.5		0.0		623.6		12,285.5		14,490.0		38,139.4		34,205.2		15.000		59,474.2
12-31-2019		130		128.9		182.8		280.8		0.0		623.6		11,922.3		12,693.0		50,832.4		43,814.2		20.000		53,773.2
12-31-2020		129		127.9		164.3		260.1		0.0		622.2		11,644.7		11,117.7		61,950.1		51,464.8		25.000		48,897.1
12-31-2021		124		123.0		147.8		239.6		0.0		622.2		11,297.3		9,605.5		71,555.6		57,471.0		30.000		44,780.2
12-31-2022		121		120.0		134.7		221.9		0.0		622.2		11,056.4		8,246.6		79,802.2		62,156.8		35.000		41,304.7
12-31-2023		118		117.0		122.3		201.3		0.0		622.2		10,795.0		6,696.0		86,498.2		65,613.1		40.000		38,354.6
12-31-2024		116		115.0		111.7		183.7		0.0		622.2		10,628.1		5,314.4		91,812.6		68,104.4		45.000		35,838.9
12-31-2025		115		114.0		102.9		168.7		0.0		622.2		10,490.5		4,064.4		95,877.0		69,834.5		50.000		33,676.5
12-31-2026		111		110.1		92.9		153.6		0.0		622.2		10,201.4		2,937.4		98,814.4		70,968.8
12-31-2027		108		107.1		67.8		111.9		0.0		622.2		7,430.1		1,985.6		100,800.0		71,663.2
12-31-2028		78		77.1		57.6		95.3		0.0		6,998.6		6,662.9		-5,112.5		95,687.5		69,941.9
12-31-2029		74		73.2		52.4		85.7		0.0		123.6		6,473.9		1,120.1		96,807.6		70,269.7
12-31-2030		71		70.2		47.2		77.7		0.0		123.6		6,317.7		542.4		97,350.0		70,413.8
SUBTOTAL						1,829.9		2,857.3		0.0		14,095.6		145,356.9		97,350.0		97,350.0		70,413.8
REMAINING						35.9		58.4		0.0		21,465.5		5,088.3		-21,311.1		76,038.9		65,867.0
TOTAL OF 16.3 YRS						1,865.8		2,915.7		0.0		35,561.1		150,445.2		76,038.9		76,038.9		65,867.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPEDNON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES CALIFORNIA BUSINESS UNIT CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		3.1		0.0		0.0		2.5		0.0		34.5		38.420		0.000		2.702		95.6		0.0		93.2		188.8
12-31-2017		48.9		0.0		0.0		39.6		0.0		82.8		42.420		0.000		2.702		1,679.8		0.0		223.7		1,903.5
12-31-2018		95.5		0.0		0.0		77.5		0.0		82.8		44.100		0.000		2.702		3,418.7		0.0		223.7		3,642.4
12-31-2019		132.7		0.0		0.0		107.7		0.0		82.8		45.640		0.000		2.702		4,914.4		0.0		223.7		5,138.1
12-31-2020		128.1		0.0		0.0		103.9		0.0		82.8		46.920		0.000		2.702		4,875.3		0.0		223.7		5,099.0
12-31-2021		113.0		0.0		0.0		91.7		0.0		82.8		47.880		0.000		2.702		4,390.2		0.0		223.7		4,613.9
12-31-2022		100.6		0.0		0.0		81.6		0.0		82.8		48.780		0.000		2.702		3,982.0		0.0		223.7		4,205.7
12-31-2023		89.3		0.0		0.0		72.5		0.0		82.8		48.780		0.000		2.702		3,535.7		0.0		223.7		3,759.4
12-31-2024		79.5		0.0		0.0		64.5		0.0		82.8		48.780		0.000		2.702		3,146.3		0.0		223.7		3,370.0
12-31-2025		72.0		0.0		0.0		58.4		0.0		82.8		48.780		0.000		2.702		2,848.7		0.0		223.7		3,072.4
12-31-2026		64.7		0.0		0.0		52.5		0.0		82.8		48.780		0.000		2.702		2,561.1		0.0		223.7		2,784.8
12-31-2027		56.9		0.0		0.0		46.2		0.0		82.8		48.780		0.000		2.702		2,252.3		0.0		223.7		2,476.0
12-31-2028		50.5		0.0		0.0		41.0		0.0		82.8		48.780		0.000		2.702		1,998.5		0.0		223.7		2,222.2
12-31-2029		45.7		0.0		0.0		37.1		0.0		82.8		48.780		0.000		2.702		1,807.3		0.0		223.7		2,031.0
12-31-2030		41.1		0.0		0.0		33.4		0.0		82.8		48.780		0.000		2.702		1,628.2		0.0		223.7		1,851.9
SUBTOTAL		1,121.6		0.0		0.0		910.0		0.0		1,193.5		47.402		0.000		2.702		43,134.1		0.0		3,225.0		46,359.1
REMAINING		159.3		0.0		0.0		129.3		0.0		600.2		48.780		0.000		2.702		6,304.8		0.0		1,621.9		7,926.7
TOTAL		1,280.9		0.0		0.0		1,039.2		0.0		1,793.7		47.573		0.000		2.702		49,438.9		0.0		4,846.9		54,285.8
CUM PROD		1,936.6				137.9
ULTIMATE		3,217.5				137.9

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		1		1.0		0.8		1.0		158.8		0.0		50.9		-22.7		-22.7		-21.3		8.000		16,828.5
12-31-2017		10		9.9		13.0		18.3		896.0		0.0		430.1		546.1		523.4		481.5		12.000		13,431.1
12-31-2018		21		20.8		25.1		37.4		1,447.8		0.0		944.6		1,187.5		1,710.9		1,467.8		15.000		11,531.6
12-31-2019		28		27.7		35.1		53.5		752.9		0.0		1,461.4		2,835.2		4,546.1		3,598.0		20.000		9,174.0
12-31-2020		28		27.7		34.0		53.1		0.0		0.0		1,515.5		3,496.4		8,042.5		6,009.5		25.000		7,489.1
12-31-2021		28		27.7		29.6		48.1		0.0		0.0		1,473.0		3,063.2		11,105.7		7,930.0		30.000		6,243.4
12-31-2022		28		27.7		26.5		43.5		0.0		0.0		1,437.7		2,698.0		13,803.7		9,467.9		35.000		5,293.9
12-31-2023		28		27.7		23.6		38.4		0.0		0.0		1,373.7		2,323.7		16,127.4		10,672.1		40.000		4,552.4
12-31-2024		27		26.7		20.9		34.4		0.0		0.0		1,304.0		2,010.7		18,138.1		11,619.1		45.000		3,962.0
12-31-2025		26		25.7		19.0		31.4		0.0		0.0		1,279.4		1,742.6		19,880.7		12,365.6		50.000		3,483.6
12-31-2026		26		25.7		16.7		28.0		0.0		0.0		1,232.7		1,507.4		21,388.1		12,952.0
12-31-2027		24		23.7		15.1		24.6		0.0		0.0		1,130.6		1,305.7		22,693.8		13,414.2
12-31-2028		22		21.8		13.5		21.8		0.0		0.0		1,051.1		1,135.8		23,829.6		13,779.8
12-31-2029		21		20.8		11.7		19.8		0.0		0.0		1,011.8		987.7		24,817.3		14,068.8
12-31-2030		21		20.8		10.8		17.5		0.0		0.0		969.9		853.7		25,671.0		14,295.8
SUBTOTAL						295.4		470.8		3,255.5		0.0		16,666.4		25,671.0		25,671.0		14,295.8
REMAINING						42.0		68.8		0.0		0.0		4,265.1		3,550.8		29,221.8		14,982.2
TOTAL OF 21.7 YRS						337.4		539.6		3,255.5		0.0		20,931.5		29,221.8		29,221.8		14,982.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES CALIFORNIA BUSINESS UNIT CALIFORNIA

PERIOD	GROSS RESERVES							NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL			NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		��	MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0			0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		72.3			0.0		0.0		60.7		0.0		0.0		42.420		0.000		0.000		2,575.3		0.0		0.0		2,575.3
12-31-2018		242.0			0.0		0.0		201.3		0.0		0.0		44.100		0.000		0.000		8,876.1		0.0		0.0		8,876.1
12-31-2019		388.3			0.0		0.0		324.2		0.0		0.0		45.640		0.000		0.000		14,796.4		0.0		0.0		14,796.4
12-31-2020		663.4			0.0		0.0		546.8		0.0		0.0		46.920		0.000		0.000		25,657.8		0.0		0.0		25,657.8
12-31-2021		671.6			0.0		0.0		552.8		0.0		0.0		47.880		0.000		0.000		26,470.1		0.0		0.0		26,470.1
12-31-2022		595.0			0.0		0.0		490.3		0.0		0.0		48.780		0.000		0.000		23,916.8		0.0		0.0		23,916.8
12-31-2023		542.0			0.0		0.0		446.8		0.0		0.0		48.780		0.000		0.000		21,793.9		0.0		0.0		21,793.9
12-31-2024		492.5			0.0		0.0		406.0		0.0		0.0		48.780		0.000		0.000		19,806.5		0.0		0.0		19,806.5
12-31-2025		446.6			0.0		0.0		368.3		0.0		0.0		48.780		0.000		0.000		17,962.7		0.0		0.0		17,962.7
12-31-2026		405.6			0.0		0.0		334.5		0.0		0.0		48.780		0.000		0.000		16,316.5		0.0		0.0		16,316.5
12-31-2027		429.9			0.0		0.0		355.9		0.0		1.4		48.780		0.000		0.000		17,362.8		0.0		0.0		17,362.8
12-31-2028		403.5			0.0		0.0		334.4		0.0		1.7		48.780		0.000		0.000		16,310.8		0.0		0.0		16,310.8
12-31-2029		369.1			0.0		0.0		305.9		0.0		1.7		48.780		0.000		0.000		14,920.5		0.0		0.0		14,920.5
12-31-2030		338.1			0.0		0.0		280.2		0.0		1.7		48.780		0.000		0.000		13,669.5		0.0		0.0		13,669.5
SUBTOTAL		6,059.8			0.0		0.0		5,008.1		0.0		6.3		48.009		0.000		0.000		240,435.7		0.0		0.0		240,435.7
REMAINING		2,534.8			0.0		0.0		2,091.3		0.0		355.6		48.780		0.000		0.000		102,012.6		0.0		0.0		102,012.6
TOTAL		8,594.6			0.0		0.0		7,099.4		0.0		361.9		48.236		0.000		0.000		342,448.3		0.0		0.0		342,448.3
CUM PROD		0.0					0.0
ULTIMATE		8,594.6					0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		23,782.1
12-31-2017		15		15.0		19.8		28.2		40,081.9		0.0		395.7		-37,950.3		-37,950.3		-35,156.8		12.000		4,184.4
12-31-2018		21		20.9		64.9		96.9		24,421.1		0.0		1,230.9		-16,937.7		-54,888.0		-49,473.9		15.000		-6,149.5
12-31-2019		30		29.8		105.3		161.5		32,023.4		0.0		1,858.4		-19,352.2		-74,240.2		-64,127.4		20.000		-17,765.4
12-31-2020		44		43.7		177.1		280.1		19,081.9		0.0		3,180.9		2,937.8		-71,302.4		-62,252.2		25.000		-24,792.5
12-31-2021		44		43.7		178.6		288.9		0.0		0.0		3,460.0		22,542.6		-48,759.8		-48,121.0		30.000		-28,998.8
12-31-2022		44		43.7		159.7		261.5		0.0		0.0		3,238.5		20,257.1		-28,502.7		-36,581.2		35.000		-31,452.5
12-31-2023		44		43.7		144.7		238.6		0.0		0.0		3,083.3		18,327.3		-10,175.4		-27,090.1		40.000		-32,791.0
12-31-2024		44		43.7		131.7		216.4		0.0		0.0		2,935.7		16,522.7		6,347.3		-19,310.9		45.000		-33,409.8
12-31-2025		44		43.7		118.9		195.7		0.0		0.0		2,800.0		14,848.1		21,195.4		-12,955.9		50.000		-33,565.9
12-31-2026		44		43.7		108.6		178.0		0.0		0.0		2,678.0		13,351.9		34,547.3		-7,761.0
12-31-2027		65		64.7		115.6		189.7		0.0		0.0		5,105.0		11,952.5		46,499.8		-3,532.3
12-31-2028		67		66.7		108.2		178.5		0.0		-6,875.0		5,456.5		17,442.6		63,942.4		2,154.3
12-31-2029		66		65.7		98.9		162.6		0.0		0.0		5,342.2		9,316.8		73,259.2		4,877.8
12-31-2030		66		65.7		91.3		149.9		0.0		0.0		5,249.5		8,178.8		81,438.0		7,051.8
SUBTOTAL						1,623.3		2,626.5		115,608.3		-6,875.0		46,014.6		81,438.0		81,438.0		7,051.8
REMAINING						678.5		1,114.2		0.0		13,134.4		74,454.5		12,631.0		94,069.0		13,014.6
TOTAL OF 24.0 YRS						2,301.8		3,740.7		115,608.3		6,259.4		120,469.1		94,069.0		94,069.0		13,014.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES CALIFORNIA BUSINESS UNIT CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		8.5		0.0		0.0		7.2		0.0		0.0		44.100		0.000		0.000		318.8		0.0		0.0		318.8
12-31-2019		61.6		0.0		0.0		52.2		0.0		0.0		45.640		0.000		0.000		2,381.0		0.0		0.0		2,381.0
12-31-2020		49.1		0.0		0.0		41.4		0.0		0.0		46.920		0.000		0.000		1,943.6		0.0		0.0		1,943.6
12-31-2021		288.2		0.0		0.0		234.9		0.0		0.0		47.880		0.000		0.000		11,246.2		0.0		0.0		11,246.2
12-31-2022		530.1		0.0		0.0		430.7		0.0		0.0		48.780		0.000		0.000		21,011.9		0.0		0.0		21,011.9
12-31-2023		1,041.4		0.0		0.0		846.4		0.0		0.0		48.780		0.000		0.000		41,289.2		0.0		0.0		41,289.2
12-31-2024		1,330.0		0.0		0.0		1,080.3		0.0		0.0		48.780		0.000		0.000		52,695.6		0.0		0.0		52,695.6
12-31-2025		1,185.4		0.0		0.0		963.1		0.0		0.0		48.780		0.000		0.000		46,979.4		0.0		0.0		46,979.4
12-31-2026		979.4		0.0		0.0		795.8		0.0		0.0		48.780		0.000		0.000		38,819.2		0.0		0.0		38,819.2
12-31-2027		849.2		0.0		0.0		690.1		0.0		0.0		48.780		0.000		0.000		33,661.7		0.0		0.0		33,661.7
12-31-2028		745.9		0.0		0.0		606.2		0.0		0.0		48.780		0.000		0.000		29,571.5		0.0		0.0		29,571.5
12-31-2029		661.7		0.0		0.0		537.8		0.0		0.0		48.780		0.000		0.000		26,233.4		0.0		0.0		26,233.4
12-31-2030		592.5		0.0		0.0		481.6		0.0		0.0		48.780		0.000		0.000		23,494.6		0.0		0.0		23,494.6
SUBTOTAL		8,322.9		0.0		0.0		6,767.7		0.0		0.0		48.708		0.000		0.000		329,646.1		0.0		0.0		329,646.1
REMAINING		5,103.7		0.0		0.0		4,144.6		0.0		974.6		48.780		0.000		1.645		202,174.5		0.0		1,603.2		203,777.7
TOTAL		13,426.6		0.0		0.0		10,912.4		0.0		974.6		48.735		0.000		1.645		531,820.6		0.0		1,603.2		533,423.8
CUM PROD		0.0				0.0
ULTIMATE		13,426.6				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		83,261.5
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		49,197.0
12-31-2018		3		3.0		2.4		3.5		5,857.3		0.0		35.6		-5,580.0		-5,580.0		-4,516.2		15.000		33,185.6
12-31-2019		3		3.0		17.0		26.0		0.0		0.0		271.5		2,066.5		-3,513.5		-2,946.0		20.000		16,939.4
12-31-2020		3		3.0		13.5		21.2		4,058.7		0.0		229.6		-2,379.4		-5,892.9		-4,463.6		25.000		8,105.0
12-31-2021		17		16.8		75.9		122.9		27,964.9		0.0		1,185.0		-18,102.5		-23,995.4		-15,795.2		30.000		3,201.3
12-31-2022		28		27.7		139.9		229.0		30,428.1		0.0		2,349.5		-12,134.6		-36,130.0		-22,727.8		35.000		460.0
12-31-2023		53		52.5		274.5		450.5		33,255.3		0.0		4,523.5		2,785.4		-33,344.6		-21,327.3		40.000		-1,066.2
12-31-2024		75		74.2		349.7		575.9		29,848.1		0.0		6,202.4		15,719.5		-17,625.1		-13,897.4		45.000		-1,885.0
12-31-2025		78		77.2		313.2		513.3		0.0		0.0		6,302.5		39,850.4		22,225.3		3,180.5		50.000		-2,294.8
12-31-2026		78		77.2		258.2		424.7		0.0		0.0		5,716.2		32,420.1		54,645.4		15,801.0
12-31-2027		78		77.2		223.2		368.0		0.0		0.0		5,346.1		27,724.4		82,369.8		25,611.4
12-31-2028		78		77.2		197.1		323.1		0.0		0.0		5,052.7		23,998.6		106,368.4		33,331.2
12-31-2029		78		77.2		173.8		286.4		0.0		0.0		4,812.4		20,960.8		127,329.2		39,459.0
12-31-2030		78		77.2		156.1		256.6		0.0		0.0		4,614.6		18,467.3		145,796.5		44,366.6
SUBTOTAL						2,194.5		3,601.1		131,412.4		0.0		46,641.6		145,796.5		145,796.5		44,366.6
REMAINING						1,344.5		2,210.2		0.0		7,568.9		92,883.0		99,771.1		245,567.6		63,953.3
TOTAL OF 29.8 YRS						3,539.0		5,811.3		131,412.4		7,568.9		139,524.6		245,567.6		245,567.6		63,953.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES CALIFORNIA BUSINESS UNIT CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		2.8		0.0		0.0		2.3		0.0		0.0		44.100		0.000		0.000		103.5		0.0		0.0		103.5
12-31-2019		22.3		0.0		0.0		18.9		0.0		0.0		45.640		0.000		0.000		863.2		0.0		0.0		863.2
12-31-2020		38.7		0.0		0.0		32.0		0.0		0.0		46.920		0.000		0.000		1,501.9		0.0		0.0		1,501.9
12-31-2021		40.8		0.0		0.0		33.6		0.0		0.0		47.880		0.000		0.000		1,610.6		0.0		0.0		1,610.6
12-31-2022		40.3		0.0		0.0		33.1		0.0		0.0		48.780		0.000		0.000		1,616.3		0.0		0.0		1,616.3
12-31-2023		118.4		0.0		0.0		96.9		0.0		0.0		48.780		0.000		0.000		4,725.6		0.0		0.0		4,725.6
12-31-2024		203.6		0.0		0.0		165.9		0.0		0.0		48.780		0.000		0.000		8,091.0		0.0		0.0		8,091.0
12-31-2025		536.5		0.0		0.0		435.6		0.0		0.0		48.780		0.000		0.000		21,248.0		0.0		0.0		21,248.0
12-31-2026		1,013.3		0.0		0.0		822.0		0.0		0.0		48.780		0.000		0.000		40,096.3		0.0		0.0		40,096.3
12-31-2027		1,044.7		0.0		0.0		848.4		0.0		0.0		48.780		0.000		0.000		41,385.8		0.0		0.0		41,385.8
12-31-2028		897.2		0.0		0.0		729.3		0.0		0.0		48.780		0.000		0.000		35,573.2		0.0		0.0		35,573.2
12-31-2029		778.3		0.0		0.0		632.8		0.0		0.0		48.780		0.000		0.000		30,870.0		0.0		0.0		30,870.0
12-31-2030		689.5		0.0		0.0		560.8		0.0		0.0		48.780		0.000		0.000		27,353.8		0.0		0.0		27,353.8
SUBTOTAL		5,426.4		0.0		0.0		4,411.7		0.0		0.0		48.744		0.000		0.000		215,039.2		0.0		0.0		215,039.2
REMAINING		6,203.8		0.0		0.0		5,040.1		0.0		611.9		48.780		0.000		1.645		245,855.9		0.0		1,006.7		246,862.6
TOTAL		11,630.1		0.0		0.0		9,451.8		0.0		611.9		48.763		0.000		1.645		460,895.1		0.0		1,006.7		461,901.8
CUM PROD		0.0				0.0
ULTIMATE		11,630.1				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		85,753.1
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		51,146.0
12-31-2018		0		0.0		0.8		1.2		0.0		0.0		8.9		92.6		92.6		73.9		15.000		35,748.0
12-31-2019		0		0.0		6.2		9.5		0.0		0.0		72.2		775.3		867.9		662.4		20.000		20,689.2
12-31-2020		0		0.0		10.4		16.5		0.0		0.0		116.5		1,358.5		2,226.4		1,595.6		25.000		12,665.8
12-31-2021		0		0.0		11.0		17.7		0.0		0.0		121.4		1,460.5		3,686.9		2,509.8		30.000		8,152.5
12-31-2022		0		0.0		10.9		17.5		0.0		0.0		119.3		1,468.6		5,155.5		3,346.1		35.000		5,481.9
12-31-2023		0		0.0		31.5		51.7		0.0		0.0		344.9		4,297.5		9,453.0		5,543.4		40.000		3,840.6
12-31-2024		0		0.0		53.7		88.3		0.0		0.0		585.4		7,363.6		16,816.6		9,011.7		45.000		2,790.2
12-31-2025		20		19.8		141.3		232.6		33,298.3		0.0		1,879.3		-14,303.5		2,513.1		2,836.3		50.000		2,093.3
12-31-2026		36		35.6		267.3		438.7		29,356.2		0.0		3,978.1		6,056.0		8,569.1		5,195.5
12-31-2027		42		41.6		274.9		452.1		5,941.7		0.0		4,551.9		30,165.2		38,734.3		15,797.2
12-31-2028		42		41.6		236.0		388.1		0.0		0.0		4,152.8		30,796.3		69,530.6		25,703.1
12-31-2029		42		41.6		205.4		337.0		0.0		0.0		3,815.3		26,512.3		96,042.9		33,455.8
12-31-2030		42		41.6		181.8		298.6		0.0		0.0		3,563.9		23,309.5		119,352.4		39,650.9
SUBTOTAL						1,431.2		2,349.5		68,596.2		0.0		23,309.9		119,352.4		119,352.4		39,650.9
REMAINING						1,634.7		2,687.1		0.0		4,009.4		78,965.1		159,566.3		278,918.7		65,842.3
TOTAL OF 34.3 YRS						3,065.9		5,036.6		68,596.2		4,009.4		102,275.0		278,918.7		278,918.7		65,842.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		78.0		0.0		0.0		66.1		0.0		0.7		38.420		0.000		0.000		2,538.1		0.0		0.0		2,538.1
12-31-2017		232.3		0.0		0.0		196.8		0.0		1.7		42.420		0.000		0.000		8,348.2		0.0		0.0		8,348.2
12-31-2018		301.0		0.0		0.0		255.0		0.0		1.7		44.100		0.000		0.000		11,246.0		0.0		0.0		11,246.0
12-31-2019		405.2		0.0		0.0		343.3		0.0		1.7		45.640		0.000		0.000		15,669.5		0.0		0.0		15,669.5
12-31-2020		385.5		0.0		0.0		326.7		0.0		1.7		46.920		0.000		0.000		15,327.2		0.0		0.0		15,327.2
12-31-2021		356.1		0.0		0.0		301.7		0.0		1.7		47.880		0.000		0.000		14,445.3		0.0		0.0		14,445.3
12-31-2022		332.8		0.0		0.0		282.0		0.0		1.7		48.780		0.000		0.000		13,757.1		0.0		0.0		13,757.1
12-31-2023		309.6		0.0		0.0		262.4		0.0		1.7		48.780		0.000		0.000		12,798.3		0.0		0.0		12,798.3
12-31-2024		284.0		0.0		0.0		240.7		0.0		1.7		48.780		0.000		0.000		11,739.9		0.0		0.0		11,739.9
12-31-2025		260.4		0.0		0.0		220.7		0.0		1.7		48.780		0.000		0.000		10,764.1		0.0		0.0		10,764.1
12-31-2026		238.5		0.0		0.0		202.1		0.0		1.7		48.780		0.000		0.000		9,856.9		0.0		0.0		9,856.9
12-31-2027		218.4		0.0		0.0		185.1		0.0		1.7		48.780		0.000		0.000		9,026.9		0.0		0.0		9,026.9
12-31-2028		200.0		0.0		0.0		169.4		0.0		1.7		48.780		0.000		0.000		8,265.2		0.0		0.0		8,265.2
12-31-2029		184.1		0.0		0.0		156.0		0.0		1.7		48.780		0.000		0.000		7,610.8		0.0		0.0		7,610.8
12-31-2030		169.9		0.0		0.0		143.9		0.0		1.7		48.780		0.000		0.000		7,021.7		0.0		0.0		7,021.7
SUBTOTAL		3,955.7		0.0		0.0		3,351.8		0.0		23.9		47.262		0.000		0.000		158,415.2		0.0		0.0		158,415.2
REMAINING		1,002.2		0.0		0.0		849.2		0.0		14.2		48.780		0.000		0.000		41,422.4		0.0		0.0		41,422.4
TOTAL		4,957.9		0.0		0.0		4,201.0		0.0		38.1		47.569		0.000		0.000		199,837.6		0.0		0.0		199,837.6
CUM PROD		15,738.5				928.4
ULTIMATE		20,696.4				928.4

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		30		30.0		21.4		27.9		0.0		0.0		1,481.6		1,007.2		1,007.2		988.1		8.000		16,663.3
12-31-2017		41		41.0		63.9		91.0		26,276.0		625.0		3,840.3		-22,548.0		-21,540.8		-19,897.7		12.000		7,831.4
12-31-2018		46		46.0		82.3		122.6		18,628.0		500.0		4,251.2		-12,338.1		-33,878.9		-30,499.3		15.000		2,935.2
12-31-2019		47		47.0		112.1		171.1		1,565.0		500.0		4,654.7		8,666.6		-25,212.3		-23,943.5		20.000		-2,937.2
12-31-2020		47		47.0		105.4		166.9		0.0		375.0		4,607.7		10,072.2		-15,140.1		-17,012.3		25.000		-6,860.9
12-31-2021		47		47.0		97.7		158.1		0.0		375.0		4,511.6		9,302.9		-5,837.2		-11,195.3		30.000		-9,510.2
12-31-2022		47		47.0		91.7		150.2		0.0		375.0		4,419.2		8,721.0		2,883.8		-6,238.1		35.000		-11,320.6
12-31-2023		45		45.0		85.1		140.0		0.0		375.0		4,314.2		7,884.0		10,767.8		-2,163.9		40.000		-12,558.3
12-31-2024		45		45.0		77.8		128.0		0.0		375.0		4,230.8		6,928.3		17,696.1		1,089.2		45.000		-13,392.9
12-31-2025		45		45.0		71.6		117.4		0.0		375.0		4,143.0		6,057.1		23,753.2		3,674.0		50.000		-13,946.4
12-31-2026		43		43.0		65.5		107.6		0.0		375.0		4,035.5		5,273.3		29,026.5		5,719.1
12-31-2027		64		64.0		60.4		98.8		0.0		375.0		3,930.8		4,561.9		33,588.4		7,327.1
12-31-2028		40		40.0		54.9		90.8		0.0		0.0		3,824.6		4,294.9		37,883.3		8,707.6
12-31-2029		39		39.0		50.2		83.1		0.0		0.0		3,763.0		3,714.5		41,597.8		9,793.2
12-31-2030		39		39.0		46.8		76.8		0.0		0.0		3,717.4		3,180.7		44,778.5		10,638.3
SUBTOTAL						1,086.8		1,730.3		46,469.0		4,625.0		59,725.6		44,778.5		44,778.5		10,638.3
REMAINING						275.5		452.5		0.0		9,500.0		29,671.6		1,522.8		46,301.3		11,867.3
TOTAL OF 24.0 YRS						1,362.3		2,182.8		46,469.0		14,125.0		89,397.2		46,301.3		46,301.3		11,867.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		78.0		0.0		0.0		66.1		0.0		0.7		38.420		0.000		0.000		2,538.1		0.0		0.0		2,538.1
12-31-2017		175.1		0.0		0.0		148.3		0.0		1.7		42.420		0.000		0.000		6,292.3		0.0		0.0		6,292.3
12-31-2018		159.6		0.0		0.0		135.3		0.0		1.7		44.100		0.000		0.000		5,964.6		0.0		0.0		5,964.6
12-31-2019		145.9		0.0		0.0		123.7		0.0		1.7		45.640		0.000		0.000		5,643.8		0.0		0.0		5,643.8
12-31-2020		133.7		0.0		0.0		113.3		0.0		1.7		46.920		0.000		0.000		5,316.6		0.0		0.0		5,316.6
12-31-2021		122.8		0.0		0.0		104.1		0.0		1.7		47.880		0.000		0.000		4,982.9		0.0		0.0		4,982.9
12-31-2022		112.6		0.0		0.0		95.4		0.0		1.7		48.780		0.000		0.000		4,651.8		0.0		0.0		4,651.8
12-31-2023		103.1		0.0		0.0		87.3		0.0		1.7		48.780		0.000		0.000		4,260.5		0.0		0.0		4,260.5
12-31-2024		95.3		0.0		0.0		80.7		0.0		1.7		48.780		0.000		0.000		3,938.6		0.0		0.0		3,938.6
12-31-2025		87.9		0.0		0.0		74.5		0.0		1.7		48.780		0.000		0.000		3,632.9		0.0		0.0		3,632.9
12-31-2026		80.5		0.0		0.0		68.2		0.0		1.7		48.780		0.000		0.000		3,328.9		0.0		0.0		3,328.9
12-31-2027		12.8		0.0		0.0		10.9		0.0		0.3		48.780		0.000		0.000		531.1		0.0		0.0		531.1
02-29-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		1,307.3		0.0		0.0		1,107.8		0.0		17.5		46.114		0.000		0.000		51,082.1		0.0		0.0		51,082.1
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		1,307.3		0.0		0.0		1,107.8		0.0		17.5		46.114		0.000		0.000		51,082.1		0.0		0.0		51,082.1
CUM PROD		15,554.1				918.7
ULTIMATE		16,861.5				918.7

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		30		30.0		21.4		27.9		0.0		0.0		1,481.6		1,007.2		1,007.2		988.1		8.000		5,579.7
12-31-2017		30		30.0		48.0		68.4		0.0		625.0		3,516.1		2,034.8		3,042.0		2,830.2		12.000		5,800.4
12-31-2018		30		30.0		43.8		65.2		0.0		500.0		3,466.0		1,889.6		4,931.6		4,388.8		15.000		5,802.0
12-31-2019		30		30.0		40.4		61.7		0.0		500.0		3,422.1		1,619.6		6,551.2		5,600.7		20.000		5,643.1
12-31-2020		30		30.0		36.8		58.0		0.0		375.0		3,382.9		1,463.9		8,015.1		6,599.4		25.000		5,385.3
12-31-2021		30		30.0		33.5		54.6		0.0		375.0		3,346.9		1,172.9		9,188.0		7,324.1		30.000		5,097.9
12-31-2022		30		30.0		30.9		50.9		0.0		375.0		3,296.2		898.8		10,086.8		7,827.4		35.000		4,809.4
12-31-2023		28		28.0		28.3		46.4		0.0		375.0		3,235.2		575.6		10,662.4		8,117.4		40.000		4,536.2
12-31-2024		28		28.0		26.2		42.9		0.0		375.0		3,210.0		284.5		10,946.9		8,243.6		45.000		4,285.9
12-31-2025		28		28.0		24.4		39.6		0.0		375.0		3,174.1		19.8		10,966.7		8,245.2		50.000		4,059.5
12-31-2026		26		26.0		22.1		36.5		0.0		375.0		3,114.1		-218.8		10,747.9		8,153.9
12-31-2027		26		26.0		3.6		6.0		0.0		375.0		516.5		-370.0		10,377.9		8,017.0
02-29-2028		0		0.0		0.0		0.0		0.0		6,875.0		0.0		-6,875.0		3,502.9		5,728.6
SUBTOTAL						359.4		558.1		0.0		11,500.0		35,161.7		3,502.9		3,502.9		5,728.6
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		3,502.9		5,728.6
TOTAL OF 11.6 YRS						359.4		558.1		0.0		11,500.0		35,161.7		3,502.9		3,502.9		5,728.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
005750	FE NWU PDP		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		185.4		185.4		10.6
000318	NWU FUEL GAS PDP		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		10.6
019840	ABAN IA NWU PDP G		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.5
019640	ABAN NWU PDP G		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		11.6
	PROSPECT TOTAL		0		0		0.0		0.0
NWU RANGER PROSPECT, LOS ANGELES COUNTY
004680	NWU 09-001 RGR SI		0		0		281.6		4.6		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005560	NWU 09-002 RGR		1		0		200.7		4.4		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		5.9
004160	NWU 09-004 RGR		1		0		144.5		12.7		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		10.6
004980	NWU 09-006 RGR		1		0		254.2		30.8		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		9.2
005070	NWU 09-008 RGR		1		0		250.8		6.7		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.4		2.2		10.6
004290	NWU 09-010 RGR SI		0		0		172.0		7.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004440	NWU 09-012 RGR		1		0		265.4		12.8		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		9.2
005280	NWU 12-001 RGR		1		0		195.8		12.1		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		10.6
005470	NWU 13-001 RGR SI		0		0		203.6		3.7		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004210	NWU 19-008 RGR SI		0		0		284.6		6.8		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004640	NWU 23-015 RGR SI		0		0		225.5		6.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003850	NWU 32-028 RGR SI		0		0		206.0		5.4		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005330	NWU 34-032 RGR SI		0		0		402.2		10.9		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004100	NWU 34-033 RGR SI		0		0		134.8		7.1		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005340	NWU 34-034 RGR SI		0		0		103.7		5.6		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004580	NWU 34-035 RGR SI		0		0		177.2		10.1		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004650	NWU 52-001 RGR SI		0		0		192.7		40.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004040	NWU 54-002 RGR		1		0		303.5		28.5		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.1		2.6		10.6
004310	NWU 55-002 RGR		1		0		238.7		6.6		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.2		2.6		10.6
005450	NWU 55-006 RGR		1		0		328.6		59.5		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.5		2.2		10.6
004060	NWU 72-003 RGR SI		0		0		355.0		24.7		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004860	NWU 73-003 RGR SI		0		0		462.6		9.1		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004890	NWU 73-005 RGR		1		0		378.8		12.2		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.0		10.6
003900	NWU 73-006 RGR		1		0		370.8		13.3		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.9		2.3		10.6
005130	NWU 73-008 RGR		1		0		271.1		11.9		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.9		2.5		10.6
003990	NWU 73-010 RGR		1		0		341.2		11.8		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.5		2.3		10.6
005400	NWU 73-028 RGR		1		0		207.1		6.5		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.7		4.3		10.6
004420	NWU 73-030 RGR		1		0		145.7		5.7		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.1		10.6
005290	NWU 73-032 RGR		1		0		80.7		2.8		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.2		2.6		10.6
005170	NWU 73-035 RGR		1		0		217.5		8.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.2		4.0		10.6
012120	NWU 73-108 RGR		1		0		108.3		3.5		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.0		10.6
013070	NWU 73-109 RGR		1		0		80.6		1.6		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.4		2.9		10.6
012190	NWU 73-110 RGR		1		0		122.1		4.2		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.1		10.6
011980	NWU 73-200 RGR		1		0		129.1		2.3		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.5		10.6
012000	NWU 73-201 RGR		1		0		81.3		1.6		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.4		2.9		10.6
011970	NWU 73-203 RGR		1		0		144.8		2.2		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		6.5		3.7		10.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
005750	FE NWU PDP		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		23,543.7		-23,543.7		-14,828.7
000318	NWU FUEL GAS PDP		0.0		0.0		0.0		0.0		0.0		17.5		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019840	ABAN IA NWU PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		4,625.0		0.0		-4,625.0		-3,011.7
019640	ABAN NWU PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		6,875.0		0.0		-6,875.0		-2,288.4
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		17.5		0.0		0.0		0.0		0.0		0.0		11,500.0		23,543.7		-35,043.7		-20,128.8
NWU RANGER PROSPECT, LOS ANGELES COUNTY
004680	NWU 09-001 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005560	NWU 09-002 RGR		4.9		0.0		0.0		4.2		0.0		0.0		187.7		0.0		0.0		3.4		0.0		0.0		159.3		25.0		20.6
004160	NWU 09-004 RGR		9.3		0.0		0.0		7.9		0.0		0.0		364.3		0.0		0.0		6.4		0.0		0.0		286.0		71.9		50.5
004980	NWU 09-006 RGR		8.0		0.0		0.0		6.8		0.0		0.0		312.5		0.0		0.0		5.5		0.0		0.0		247.8		59.2		43.8
005070	NWU 09-008 RGR		9.8		0.0		0.0		8.3		0.0		0.0		383.9		0.0		0.0		6.7		0.0		0.0		287.7		89.5		63.8
004290	NWU 09-010 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004440	NWU 09-012 RGR		8.0		0.0		0.0		6.8		0.0		0.0		312.5		0.0		0.0		5.5		0.0		0.0		247.8		59.2		43.8
005280	NWU 12-001 RGR		9.3		0.0		0.0		7.9		0.0		0.0		364.3		0.0		0.0		6.4		0.0		0.0		286.0		71.9		50.5
005470	NWU 13-001 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004210	NWU 19-008 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004640	NWU 23-015 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003850	NWU 32-028 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005330	NWU 34-032 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004100	NWU 34-033 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005340	NWU 34-034 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004580	NWU 34-035 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004650	NWU 52-001 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004040	NWU 54-002 RGR		31.1		0.0		0.0		26.4		0.0		0.0		1,221.7		0.0		0.0		22.1		0.0		0.0		356.6		843.0		555.4
004310	NWU 55-002 RGR		33.4		0.0		0.0		28.3		0.0		0.0		1,309.0		0.0		0.0		23.5		0.0		0.0		363.7		921.8		606.6
005450	NWU 55-006 RGR		12.4		0.0		0.0		10.5		0.0		0.0		488.3		0.0		0.0		8.7		0.0		0.0		296.4		183.2		125.0
004060	NWU 72-003 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004860	NWU 73-003 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004890	NWU 73-005 RGR		53.4		0.0		0.0		45.2		0.0		0.0		2,094.4		0.0		0.0		37.6		0.0		0.0		428.4		1,628.4		1,067.9
003900	NWU 73-006 RGR		21.2		0.0		0.0		18.0		0.0		0.0		826.6		0.0		0.0		14.9		0.0		0.0		324.8		486.9		340.4
005130	NWU 73-008 RGR		25.9		0.0		0.0		22.0		0.0		0.0		1,019.5		0.0		0.0		18.5		0.0		0.0		339.9		661.1		431.6
003990	NWU 73-010 RGR		13.3		0.0		0.0		11.3		0.0		0.0		523.6		0.0		0.0		9.3		0.0		0.0		299.1		215.2		145.8
005400	NWU 73-028 RGR		111.6		0.0		0.0		94.6		0.0		0.0		4,389.8		0.0		0.0		78.5		0.0		0.0		616.7		3,694.6		2,384.1
004420	NWU 73-030 RGR		56.9		0.0		0.0		48.2		0.0		0.0		2,230.4		0.0		0.0		40.3		0.0		0.0		439.9		1,750.2		1,150.8
005290	NWU 73-032 RGR		30.5		0.0		0.0		25.9		0.0		0.0		1,194.7		0.0		0.0		21.5		0.0		0.0		354.7		818.5		546.6
005170	NWU 73-035 RGR		98.7		0.0		0.0		83.7		0.0		0.0		3,886.2		0.0		0.0		69.6		0.0		0.0		575.0		3,241.6		2,083.1
012120	NWU 73-108 RGR		67.4		0.0		0.0		57.1		0.0		0.0		2,629.4		0.0		0.0		47.2		0.0		0.0		473.6		2,108.6		1,421.9
013070	NWU 73-109 RGR		59.8		0.0		0.0		50.6		0.0		0.0		2,332.5		0.0		0.0		42.0		0.0		0.0		449.1		1,841.4		1,243.2
012190	NWU 73-110 RGR		74.9		0.0		0.0		63.4		0.0		0.0		2,921.3		0.0		0.0		52.5	��	0.0		0.0		497.9		2,370.9		1,597.7
011980	NWU 73-200 RGR		97.3		0.0		0.0		82.5		0.0		0.0		3,797.8		0.0		0.0		68.3		0.0		0.0		570.6		3,158.9		2,125.7
012000	NWU 73-201 RGR		59.9		0.0		0.0		50.7		0.0		0.0		2,337.3		0.0		0.0		42.2		0.0		0.0		449.6		1,845.5		1,246.0
011970	NWU 73-203 RGR		112.3		0.0		0.0		95.1		0.0		0.0		4,382.3		0.0		0.0		78.6		0.0		0.0		618.9		3,684.8		2,477.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
NWU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
012160	NWU 73-204 RGR		1		0		91.3		4.5		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.8		2.3		10.6
012140	NWU 73-206 RGR		1		0		92.8		1.9		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.0		10.6
012110	NWU 73-207 RGR		1		0		68.4		2.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.8		2.7		10.6
012130	NWU 73-208 RGR		1		0		58.4		1.1		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.7		2.7		10.6
012100	NWU 73-209 RGR		1		0		31.8		1.9		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.0		2.2		6.2
012200	NWU 73-210 RGR		1		0		49.5		1.8		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.1		2.4		10.6
013080	NWU 73-211 RGR		1		0		82.8		1.3		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.6		3.0		10.6
004810	NWU 74-001 RGR SI		0		0		422.3		11.8		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001210	NWU RGR SI		0		0		7,901.6		489.6		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		30		0		16,861.5		918.7
	TOTAL CALIFORNIA		30		0		16,861.5		918.7
	TOTAL ALL LEASES		30		0		16,861.5		918.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
NWU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
012160	NWU 73-204 RGR		41.1		0.0		0.0		34.8		0.0		0.0		1,565.8		0.0		0.0		28.4		0.0		0.0		388.9		1,148.5		878.3
012140	NWU 73-206 RGR		67.4		0.0		0.0		57.1		0.0		0.0		2,629.4		0.0		0.0		47.2		0.0		0.0		473.6		2,108.6		1,421.9
012110	NWU 73-207 RGR		44.9		0.0		0.0		38.1		0.0		0.0		1,752.9		0.0		0.0		31.7		0.0		0.0		401.2		1,320.0		894.1
012130	NWU 73-208 RGR		43.0		0.0		0.0		36.5		0.0		0.0		1,679.7		0.0		0.0		30.1		0.0		0.0		395.3		1,254.3		850.1
012100	NWU 73-209 RGR		11.2		0.0		0.0		9.5		0.0		0.0		416.2		0.0		0.0		7.5		0.0		0.0		185.3		223.4		188.9
012200	NWU 73-210 RGR		26.8		0.0		0.0		22.7		0.0		0.0		1,045.0		0.0		0.0		18.7		0.0		0.0		342.6		683.7		468.0
013080	NWU 73-211 RGR		63.6		0.0		0.0		53.9		0.0		0.0		2,483.1		0.0		0.0		44.7		0.0		0.0		461.6		1,976.8		1,333.7
004810	NWU 74-001 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001210	NWU RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		1,307.3		0.0		0.0		1,107.8		0.0		0.0		51,082.1		0.0		0.0		917.5		0.0		0.0		11,618.0		38,546.6		25,857.4
	TOTAL CALIFORNIA		1,307.3		0.0		0.0		1,107.8		0.0		17.5		51,082.1		0.0		0.0		917.5		0.0		11,500.0		35,161.7		3,502.9		5,728.6
	TOTAL ALL LEASES		1,307.3		0.0		0.0		1,107.8		0.0		17.5		51,082.1		0.0		0.0		917.5		0.0		11,500.0		35,161.7		3,502.9		5,728.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		2.6		0.0		0.0		2.2		0.0		0.0		44.100		0.000		0.000		97.0		0.0		0.0		97.0
12-31-2019		3.2		0.0		0.0		2.7		0.0		0.0		45.640		0.000		0.000		122.1		0.0		0.0		122.1
12-31-2020		2.8		0.0		0.0		2.4		0.0		0.0		46.920		0.000		0.000		113.0		0.0		0.0		113.0
12-31-2021		2.6		0.0		0.0		2.2		0.0		0.0		47.880		0.000		0.000		103.8		0.0		0.0		103.8
12-31-2022		2.3		0.0		0.0		2.0		0.0		0.0		48.780		0.000		0.000		95.1		0.0		0.0		95.1
12-31-2023		2.1		0.0		0.0		1.8		0.0		0.0		48.780		0.000		0.000		85.6		0.0		0.0		85.6
12-31-2024		1.9		0.0		0.0		1.6		0.0		0.0		48.780		0.000		0.000		77.1		0.0		0.0		77.1
12-31-2025		1.7		0.0		0.0		1.4		0.0		0.0		48.780		0.000		0.000		69.4		0.0		0.0		69.4
12-31-2026		1.5		0.0		0.0		1.3		0.0		0.0		48.780		0.000		0.000		62.4		0.0		0.0		62.4
12-31-2027		1.4		0.0		0.0		1.2		0.0		0.0		48.780		0.000		0.000		56.2		0.0		0.0		56.2
12-31-2028		1.2		0.0		0.0		1.0		0.0		0.0		48.780		0.000		0.000		50.6		0.0		0.0		50.6
12-31-2029		1.1		0.0		0.0		0.9		0.0		0.0		48.780		0.000		0.000		45.5		0.0		0.0		45.5
12-31-2030		1.0		0.0		0.0		0.8		0.0		0.0		48.780		0.000		0.000		41.0		0.0		0.0		41.0
SUBTOTAL		25.3		0.0		0.0		21.4		0.0		0.0		47.606		0.000		0.000		1,018.8		0.0		0.0		1,018.8
REMAINING		2.8		0.0		0.0		2.3		0.0		0.0		48.780		0.000		0.000		113.7		0.0		0.0		113.7
TOTAL		28.0		0.0		0.0		23.7		0.0		0.0		47.721		0.000		0.000		1,132.5		0.0		0.0		1,132.5
CUM PROD		184.4				9.7
ULTIMATE		212.4				9.7

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		375.9
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		306.9
12-31-2018		1		1.0		0.7		1.1		25.0		0.0		26.6		43.6		43.6		35.2		15.000		267.1
12-31-2019		1		1.0		0.9		1.3		0.0		0.0		34.4		85.5		129.1		100.0		20.000		215.4
12-31-2020		1		1.0		0.8		1.2		0.0		0.0		33.4		77.6		206.7		153.5		25.000		177.5
12-31-2021		1		1.0		0.7		1.1		0.0		0.0		32.5		69.5		276.2		197.0		30.000		148.4
12-31-2022		1		1.0		0.6		1.0		0.0		0.0		31.6		61.9		338.1		232.2		35.000		126.3
12-31-2023		1		1.0		0.6		0.9		0.0		0.0		30.9		53.2		391.3		259.8		40.000		108.3
12-31-2024		1		1.0		0.5		0.8		0.0		0.0		30.2		45.6		436.9		281.2		45.000		94.2
12-31-2025		1		1.0		0.5		0.8		0.0		0.0		29.6		38.5		475.4		297.7		50.000		82.5
12-31-2026		1		1.0		0.4		0.7		0.0		0.0		29.1		32.2		507.6		310.2
12-31-2027		1		1.0		0.4		0.6		0.0		0.0		28.6		26.6		534.2		319.6
12-31-2028		1		1.0		0.3		0.6		0.0		0.0		28.2		21.5		555.7		326.5
12-31-2029		1		1.0		0.3		0.5		0.0		0.0		27.8		16.9		572.6		331.4
12-31-2030		1		1.0		0.3		0.4		0.0		0.0		27.4		12.9		585.5		334.8
SUBTOTAL						7.0		11.0		25.0		0.0		390.3		585.5		585.5		334.8
REMAINING						0.8		1.2		0.0		0.0		93.7		18.0		603.5		338.9
TOTAL OF 17.9 YRS						7.8		12.2		25.0		0.0		484.0		603.5		603.5		338.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
NWU RANGER PROSPECT, LOS ANGELES COUNTY
004540	NWU 55-001 RGR		1		0		208.8		9.3		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.2		17.9
011990	NWU 73-202 RGR		0		0		3.6		0.4		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		1		0		212.4		9.7
	TOTAL CALIFORNIA		1		0		212.4		9.7
	TOTAL ALL LEASES		1		0		212.4		9.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
NWU RANGER PROSPECT, LOS ANGELES COUNTY
004540	NWU 55-001 RGR		28.0		0.0		0.0		23.7		0.0		0.0		1,132.5		0.0		0.0		20.0		25.0		0.0		484.0		603.5		338.9
011990	NWU 73-202 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		28.0		0.0		0.0		23.7		0.0		0.0		1,132.5		0.0		0.0		20.0		25.0		0.0		484.0		603.5		338.9
	TOTAL CALIFORNIA		28.0		0.0		0.0		23.7		0.0		0.0		1,132.5		0.0		0.0		20.0		25.0		0.0		484.0		603.5		338.9
	TOTAL ALL LEASES		28.0		0.0		0.0		23.7		0.0		0.0		1,132.5		0.0		0.0		20.0		25.0		0.0		484.0		603.5		338.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD ENDING M-D-Y	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		57.2		0.0		0.0		48.5		0.0		0.0		42.420		0.000		0.000		2,055.9		0.0		0.0		2,055.9
12-31-2018		138.7		0.0		0.0		117.6		0.0		0.0		44.100		0.000		0.000		5,184.4		0.0		0.0		5,184.4
12-31-2019		256.1		0.0		0.0		217.0		0.0		0.0		45.640		0.000		0.000		9,903.6		0.0		0.0		9,903.6
12-31-2020		248.9		0.0		0.0		210.9		0.0		0.0		46.920		0.000		0.000		9,897.6		0.0		0.0		9,897.6
12-31-2021		230.7		0.0		0.0		195.5		0.0		0.0		47.880		0.000		0.000		9,358.6		0.0		0.0		9,358.6
12-31-2022		218.0		0.0		0.0		184.7		0.0		0.0		48.780		0.000		0.000		9,010.2		0.0		0.0		9,010.2
12-31-2023		204.5		0.0		0.0		173.3		0.0		0.0		48.780		0.000		0.000		8,452.2		0.0		0.0		8,452.2
12-31-2024		186.9		0.0		0.0		158.4		0.0		0.0		48.780		0.000		0.000		7,724.2		0.0		0.0		7,724.2
12-31-2025		170.9		0.0		0.0		144.8		0.0		0.0		48.780		0.000		0.000		7,061.8		0.0		0.0		7,061.8
12-31-2026		156.4		0.0		0.0		132.5		0.0		0.0		48.780		0.000		0.000		6,465.6		0.0		0.0		6,465.6
12-31-2027		204.2		0.0		0.0		173.0		0.0		1.4		48.780		0.000		0.000		8,439.6		0.0		0.0		8,439.6
12-31-2028		198.7		0.0		0.0		168.4		0.0		1.7		48.780		0.000		0.000		8,214.6		0.0		0.0		8,214.6
12-31-2029		183.0		0.0		0.0		155.1		0.0		1.7		48.780		0.000		0.000		7,565.3		0.0		0.0		7,565.3
12-31-2030		168.9		0.0		0.0		143.1		0.0		1.7		48.780		0.000		0.000		6,980.7		0.0		0.0		6,980.7
SUBTOTAL		2,623.1		0.0		0.0		2,222.7		0.0		6.3		47.832		0.000		0.000		106,314.3		0.0		0.0		106,314.3
REMAINING		999.4		0.0		0.0		846.8		0.0		14.2		48.780		0.000		0.000		41,308.7		0.0		0.0		41,308.7
TOTAL		3,622.5		0.0		0.0		3,069.5		0.0		20.6		48.093		0.000		0.000		147,623.0		0.0		0.0		147,623.0
CUM PROD		0.0				0.0
ULTIMATE		3,622.5				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		10,707.7
12-31-2017		11		11.0		15.9		22.6		26,276.0		0.0		324.2		-24,582.8		-24,582.8		-22,727.9		12.000		1,724.1
12-31-2018		15		15.0		37.8		56.3		18,603.0		0.0		758.6		-14,271.3		-38,854.1		-34,923.3		15.000		-3,133.9
12-31-2019		16		16.0		70.8		108.1		1,565.0		0.0		1,198.2		6,961.5		-31,892.6		-29,644.2		20.000		-8,795.7
12-31-2020		16		16.0		67.8		107.7		0.0		0.0		1,191.4		8,530.7		-23,361.9		-23,765.2		25.000		-12,423.7
12-31-2021		16		16.0		63.5		102.4		0.0		0.0		1,132.2		8,060.5		-15,301.4		-18,716.4		30.000		-14,756.5
12-31-2022		16		16.0		60.2		98.3		0.0		0.0		1,091.4		7,760.3		-7,541.1		-14,297.7		35.000		-16,256.3
12-31-2023		16		16.0		56.2		92.7		0.0		0.0		1,048.1		7,255.2		-285.9		-10,541.1		40.000		-17,202.8
12-31-2024		16		16.0		51.1		84.3		0.0		0.0		990.6		6,598.2		6,312.3		-7,435.6		45.000		-17,773.0
12-31-2025		16		16.0		46.7		77.0		0.0		0.0		939.3		5,998.8		12,311.1		-4,868.9		50.000		-18,088.4
12-31-2026		16		16.0		43.0		70.4		0.0		0.0		892.3		5,459.9		17,771.0		-2,745.0
12-31-2027		37		37.0		56.4		92.2		0.0		0.0		3,385.7		4,905.3		22,676.3		-1,009.5
12-31-2028		39		39.0		54.6		90.2		0.0		-6,875.0		3,796.4		11,148.4		33,824.7		2,652.5
12-31-2029		38		38.0		49.9		82.6		0.0		0.0		3,735.2		3,697.6		37,522.3		3,733.2
12-31-2030		38		38.0		46.5		76.4		0.0		0.0		3,690.0		3,167.8		40,690.1		4,574.9
SUBTOTAL						720.4		1,161.2		46,444.0		-6,875.0		24,173.6		40,690.1		40,690.1		4,574.9
REMAINING						274.7		451.3		0.0		9,500.0		29,577.9		1,504.8		42,194.9		5,799.8
TOTAL OF 24.0 YRS						995.1		1,612.5		46,444.0		2,625.0		53,751.5		42,194.9		42,194.9		5,799.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
016610	FAC CAPEX PUD		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		23.0
005760	FE NWU PUD		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		185.4		185.4		23.0
000321	NWU FUEL GAS PUD		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		23.0
021380	ABAN NWU PUD G		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		24.0
	PROSPECT TOTAL		0		0		0.0		0.0
NWU RANGER PROSPECT, LOS ANGELES COUNTY
013130	NRGR 12 PUP 04		1		0		69.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
013140	NRGR 12 PUP 05		1		0		69.8		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
011960	NRGR 12 PUP 06		1		0		69.8		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
012050	NRGR 12 PUP 07		1		0		69.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
013150	NRGR 12 PUP 08		1		0		70.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
013160	NRGR 12 PUP 09		1		0		69.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
012060	NRGR 12 PUP 10		1		0		69.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
012070	NRGR 12 PUP 11		1		0		70.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
013170	NRGR 12 PUP 12		1		0		70.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
013180	NRGR 12 PUP 13		1		0		70.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
012080	NRGR 12 PUP 14		1		0		70.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
023650	NRGR 14 PUI 01		0		0		137.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
023660	NRGR 14 PUI 02		0		0		137.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022300	NRGR 14 PUI 03		0		0		137.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022310	NRGR 14 PUI 04		0		0		136.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022320	NRGR 14 PUI 05		0		0		136.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022330	NRGR 14 PUI 06		0		0		136.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022340	NRGR 14 PUI 07		0		0		136.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022350	NRGR 14 PUI 08		0		0		136.5		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022360	NRGR 14 PUI 09		0		0		136.5		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022370	NRGR 14 PUI 10		0		0		136.3		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022380	NRGR 14 PUI 11		0		0		136.3		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022390	NRGR 14 PUI 12		0		0		136.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022400	NRGR 14 PUI 13		0		0		136.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
022420	NURGR 14 PUI 1		0		0		94.5		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		23.0
013190	NURGR 14 PUP 1		1		0		63.8		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
304160	NWU 09-004 RGR EXT		1		0		0.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		10.9
305070	NWU 09-008 RGR EXT		1		0		0.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.4		2.2		10.7
305280	NWU 12-001 RGR EXT		1		0		0.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.3		2.2		10.9
304040	NWU 54-002 RGR EXT		1		0		18.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.1		2.3		23.0
304310	NWU 55-002 RGR EXT		1		0		19.3		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.2		2.3		23.0
305450	NWU 55-006 RGR EXT		1		0		2.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.5		2.2		14.6
304890	NWU 73-005 RGR EXT		1		0		30.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.9		2.5		23.0
303900	NWU 73-006 RGR EXT		1		0		4.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.9		2.2		15.5
305130	NWU 73-008 RGR EXT		1		0		16.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.9		2.3		23.0
303990	NWU 73-010 RGR EXT		1		0		3.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.5		2.2		15.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
016610	FAC CAPEX PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		5,350.0		0.0		0.0		-5,350.0		-5,121.3
005760	FE NWU PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		27,622.4		-27,622.4		-5,905.6
000321	NWU FUEL GAS PUD		0.0		0.0		0.0		0.0		0.0		20.6		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021380	ABAN NWU PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		2,625.0		0.0		-2,625.0		1,320.1
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		20.6		0.0		0.0		0.0		0.0		5,350.0		2,625.0		27,622.4		-35,597.4		-9,706.8
NWU RANGER PROSPECT, LOS ANGELES COUNTY
013130	NRGR 12 PUP 04		69.7		0.0		0.0		59.1		0.0		0.0		2,804.1		0.0		0.0		49.9		1,565.0		0.0		756.0		433.2		-337.2
013140	NRGR 12 PUP 05		69.8		0.0		0.0		59.1		0.0		0.0		2,804.4		0.0		0.0		50.0		1,565.0		0.0		758.3		431.1		-342.2
011960	NRGR 12 PUP 06		69.8		0.0		0.0		59.1		0.0		0.0		2,804.4		0.0		0.0		50.0		1,565.0		0.0		758.3		431.1		-342.2
012050	NRGR 12 PUP 07		69.7		0.0		0.0		59.1		0.0		0.0		2,804.1		0.0		0.0		49.9		1,565.0		0.0		756.0		433.2		-337.2
013150	NRGR 12 PUP 08		70.0		0.0		0.0		59.3		0.0		0.0		2,804.9		0.0		0.0		50.0		1,565.0		0.0		762.9		427.0		-351.7
013160	NRGR 12 PUP 09		69.9		0.0		0.0		59.2		0.0		0.0		2,804.8		0.0		0.0		50.0		1,565.0		0.0		760.4		429.4		-347.1
012060	NRGR 12 PUP 10		69.9		0.0		0.0		59.2		0.0		0.0		2,804.8		0.0		0.0		50.0		1,565.0		0.0		760.4		429.4		-347.1
012070	NRGR 12 PUP 11		70.0		0.0		0.0		59.3		0.0		0.0		2,805.0		0.0		0.0		49.9		1,565.0		0.0		765.2		424.9		-357.0
013170	NRGR 12 PUP 12		70.0		0.0		0.0		59.3		0.0		0.0		2,805.0		0.0		0.0		49.9		1,565.0		0.0		765.2		424.9		-357.0
013180	NRGR 12 PUP 13		70.0		0.0		0.0		59.3		0.0		0.0		2,804.9		0.0		0.0		50.0		1,565.0		0.0		762.9		427.0		-351.7
012080	NRGR 12 PUP 14		70.1		0.0		0.0		59.4		0.0		0.0		2,805.3		0.0		0.0		49.5		1,565.0		0.0		767.4		423.4		-361.6
023650	NRGR 14 PUI 01		137.1		0.0		0.0		116.2		0.0		0.0		5,608.7		0.0		0.0		98.8		1,237.0		0.0		442.9		3,830.0		1,082.6
023660	NRGR 14 PUI 02		137.1		0.0		0.0		116.2		0.0		0.0		5,608.7		0.0		0.0		98.8		1,237.0		0.0		442.9		3,830.0		1,082.6
022300	NRGR 14 PUI 03		137.1		0.0		0.0		116.2		0.0		0.0		5,608.7		0.0		0.0		98.8		1,237.0		0.0		442.9		3,830.0		1,082.6
022310	NRGR 14 PUI 04		136.9		0.0		0.0		116.0		0.0		0.0		5,602.6		0.0		0.0		98.6		1,237.0		0.0		442.2		3,824.8		1,075.6
022320	NRGR 14 PUI 05		136.9		0.0		0.0		116.0		0.0		0.0		5,602.6		0.0		0.0		98.6		1,237.0		0.0		442.2		3,824.8		1,075.6
022330	NRGR 14 PUI 06		136.7		0.0		0.0		115.8		0.0		0.0		5,596.5		0.0		0.0		98.7		1,237.0		0.0		441.6		3,819.2		1,068.1
022340	NRGR 14 PUI 07		136.7		0.0		0.0		115.8		0.0		0.0		5,596.5		0.0		0.0		98.7		1,237.0		0.0		441.6		3,819.2		1,068.1
022350	NRGR 14 PUI 08		136.5		0.0		0.0		115.6		0.0		0.0		5,590.2		0.0		0.0		98.9		1,237.0		0.0		440.8		3,813.5		1,060.4
022360	NRGR 14 PUI 09		136.5		0.0		0.0		115.6		0.0		0.0		5,590.2		0.0		0.0		98.9		1,237.0		0.0		440.8		3,813.5		1,060.4
022370	NRGR 14 PUI 10		136.3		0.0		0.0		115.5		0.0		0.0		5,583.3		0.0		0.0		98.5		1,237.0		0.0		440.0		3,807.8		1,052.9
022380	NRGR 14 PUI 11		136.3		0.0		0.0		115.5		0.0		0.0		5,583.3		0.0		0.0		98.5		1,237.0		0.0		440.0		3,807.8		1,052.9
022390	NRGR 14 PUI 12		136.0		0.0		0.0		115.3		0.0		0.0		5,576.6		0.0		0.0		98.1		1,237.0		0.0		439.4		3,802.1		1,045.3
022400	NRGR 14 PUI 13		136.0		0.0		0.0		115.3		0.0		0.0		5,576.6		0.0		0.0		98.1		1,237.0		0.0		439.4		3,802.1		1,045.3
022420	NURGR 14 PUI 1		94.5		0.0		0.0		80.1		0.0		0.0		3,876.8		0.0		0.0		68.4		1,237.0		0.0		305.6		2,265.8		450.8
013190	NURGR 14 PUP 1		63.8		0.0		0.0		54.0		0.0		0.0		2,610.7		0.0		0.0		46.1		1,565.0		0.0		688.4		311.2		-308.5
304160	NWU 09-004 RGR EXT		0.2		0.0		0.0		0.2		0.0		0.0		9.0		0.0		0.0		0.2		0.0		0.0		8.8		0.0		0.0
305070	NWU 09-008 RGR EXT		0.1		0.0		0.0		0.1		0.0		0.0		4.5		0.0		0.0		0.0		0.0		0.0		4.4		0.1		0.0
305280	NWU 12-001 RGR EXT		0.2		0.0		0.0		0.2		0.0		0.0		9.0		0.0		0.0		0.2		0.0		0.0		8.8		0.0		0.0
304040	NWU 54-002 RGR EXT		18.1		0.0		0.0		15.3		0.0		0.0		746.1		0.0		0.0		13.2		0.0		0.0		359.2		373.7		90.7
304310	NWU 55-002 RGR EXT		19.3		0.0		0.0		16.4		0.0		0.0		799.5		0.0		0.0		14.0		0.0		0.0		363.4		422.1		101.7
305450	NWU 55-006 RGR EXT		2.9		0.0		0.0		2.5		0.0		0.0		121.9		0.0		0.0		2.0		0.0		0.0		106.4		13.5		4.3
304890	NWU 73-005 RGR EXT		30.9		0.0		0.0		26.2		0.0		0.0		1,279.0		0.0		0.0		22.5		0.0		0.0		400.9		855.6		201.3
303900	NWU 73-006 RGR EXT		4.2		0.0		0.0		3.5		0.0		0.0		173.0		0.0		0.0		2.9		0.0		0.0		132.7		37.4		11.7
305130	NWU 73-008 RGR EXT		16.9		0.0		0.0		14.4		0.0		0.0		700.4		0.0		0.0		12.3		0.0		0.0		355.7		332.4		79.4
303990	NWU 73-010 RGR EXT		3.9		0.0		0.0		3.3		0.0		0.0		163.2		0.0		0.0		2.7		0.0		0.0		137.8		22.7		7.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
NWU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
305400	NWU 73-028 RGR EXT		1		0		84.8		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.7		3.5		23.0
304420	NWU 73-030 RGR EXT		1		0		38.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.1		2.7		23.0
305290	NWU 73-032 RGR EXT		1		0		19.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.2		2.3		23.0
305170	NWU 73-035 RGR EXT		1		0		77.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.4		23.0
312120	NWU 73-108 RGR EXT		1		0		27.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.7		2.3		23.0
313070	NWU 73-109 RGR EXT		1		0		24.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.4		2.3		23.0
312190	NWU 73-110 RGR EXT		1		0		30.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.0		2.4		23.0
311980	NWU 73-200 RGR EXT		1		0		39.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		5.9		2.5		23.0
312000	NWU 73-201 RGR EXT		1		0		24.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.4		2.3		23.0
311970	NWU 73-203 RGR EXT		1		0		45.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		6.5		2.5		23.0
312160	NWU 73-204 RGR EXT		1		0		0.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.8		2.2		11.8
312140	NWU 73-206 RGR EXT		1		0		27.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.7		2.3		23.0
312110	NWU 73-207 RGR EXT		1		0		18.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.8		2.2		23.0
312130	NWU 73-208 RGR EXT		1		0		17.3		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.7		2.2		23.0
312200	NWU 73-210 RGR EXT		1		0		8.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		3.1		2.2		19.3
313080	NWU 73-211 RGR EXT		1		0		25.6		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		4.6		2.3		23.0
	PROSPECT TOTAL		38		0		3,308.0		0.0
NWU TAR PROSPECT, LOS ANGELES COUNTY
012560	NTAR 13 PUP 1		1		0		78.6		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
012590	NTAR 13 PUP 2		1		0		78.6		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
012680	NTAR 13 PUP 3		1		0		78.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.2		23.0
012690	NTAR 13 PUP 4		1		0		78.7		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.2		23.0
	PROSPECT TOTAL		4		0		314.6		0.0
NWU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
012750	NUTH 13 PUI 1		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012760	NUTH 13 PUI 2		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012700	NUTH 13 PUP 1		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012710	NUTH 13 PUP 2		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012720	NUTH 13 PUP 3		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL CALIFORNIA		42		0		3,622.5		0.0
	TOTAL ALL LEASES		42		0		3,622.5		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
NWU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
305400	NWU 73-028 RGR EXT		84.8		0.0		0.0		71.8		0.0		0.0		3,503.1		0.0		0.0		61.6		0.0		0.0		574.7		2,866.8		638.1
304420	NWU 73-030 RGR EXT		38.1		0.0		0.0		32.2		0.0		0.0		1,573.2		0.0		0.0		27.7		0.0		0.0		423.8		1,121.7		253.4
305290	NWU 73-032 RGR EXT		19.2		0.0		0.0		16.3		0.0		0.0		795.0		0.0		0.0		13.9		0.0		0.0		363.1		418.0		96.6
305170	NWU 73-035 RGR EXT		77.9		0.0		0.0		66.0		0.0		0.0		3,220.7		0.0		0.0		56.7		0.0		0.0		552.6		2,611.4		579.9
312120	NWU 73-108 RGR EXT		27.1		0.0		0.0		23.0		0.0		0.0		1,121.5		0.0		0.0		19.6		0.0		0.0		388.6		713.3		176.9
313070	NWU 73-109 RGR EXT		24.1		0.0		0.0		20.4		0.0		0.0		994.9		0.0		0.0		17.5		0.0		0.0		378.7		598.7		149.7
312190	NWU 73-110 RGR EXT		30.1		0.0		0.0		25.5		0.0		0.0		1,246.0		0.0		0.0		21.8		0.0		0.0		398.3		825.9		203.8
311980	NWU 73-200 RGR EXT		39.2		0.0		0.0		33.2		0.0		0.0		1,620.0		0.0		0.0		28.4		0.0		0.0		427.5		1,164.1		284.1
312000	NWU 73-201 RGR EXT		24.1		0.0		0.0		20.4		0.0		0.0		996.8		0.0		0.0		17.5		0.0		0.0		378.7		600.6		150.2
311970	NWU 73-203 RGR EXT		45.2		0.0		0.0		38.3		0.0		0.0		1,869.1		0.0		0.0		32.8		0.0		0.0		446.9		1,389.4		337.7
312160	NWU 73-204 RGR EXT		0.9		0.0		0.0		0.8		0.0		0.0		38.9		0.0		0.0		0.7		0.0		0.0		33.3		4.9		1.8
312140	NWU 73-206 RGR EXT		27.1		0.0		0.0		23.0		0.0		0.0		1,121.5		0.0		0.0		19.6		0.0		0.0		388.6		713.3		176.9
312110	NWU 73-207 RGR EXT		18.1		0.0		0.0		15.3		0.0		0.0		747.7		0.0		0.0		13.1		0.0		0.0		359.2		375.4		96.5
312130	NWU 73-208 RGR EXT		17.3		0.0		0.0		14.7		0.0		0.0		716.4		0.0		0.0		12.7		0.0		0.0		356.9		346.8		89.8
312200	NWU 73-210 RGR EXT		8.7		0.0		0.0		7.4		0.0		0.0		360.8		0.0		0.0		6.3		0.0		0.0		238.2		116.3		33.3
313080	NWU 73-211 RGR EXT		25.6		0.0		0.0		21.7		0.0		0.0		1,059.1		0.0		0.0		18.7		0.0		0.0		383.8		656.6		163.5
	PROSPECT TOTAL		3,308.0		0.0		0.0		2,803.0		0.0		0.0		135,054.0		0.0		0.0		2,384.2		36,098.0		0.0		23,074.7		73,497.1		14,091.0
NWU TAR PROSPECT, LOS ANGELES COUNTY
012560	NTAR 13 PUP 1		78.6		0.0		0.0		66.6		0.0		0.0		3,142.9		0.0		0.0		55.9		1,249.0		0.0		762.5		1,075.5		354.0
012590	NTAR 13 PUP 2		78.6		0.0		0.0		66.6		0.0		0.0		3,142.9		0.0		0.0		55.9		1,249.0		0.0		762.5		1,075.5		354.0
012680	NTAR 13 PUP 3		78.7		0.0		0.0		66.7		0.0		0.0		3,141.6		0.0		0.0		55.8		1,249.0		0.0		764.7		1,072.1		353.8
012690	NTAR 13 PUP 4		78.7		0.0		0.0		66.7		0.0		0.0		3,141.6		0.0		0.0		55.8		1,249.0		0.0		764.7		1,072.1		353.8
	PROSPECT TOTAL		314.6		0.0		0.0		266.5		0.0		0.0		12,569.0		0.0		0.0		223.4		4,996.0		0.0		3,054.4		4,295.2		1,415.6
NWU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
012750	NUTH 13 PUI 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012760	NUTH 13 PUI 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012700	NUTH 13 PUP 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012710	NUTH 13 PUP 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012720	NUTH 13 PUP 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL CALIFORNIA		3,622.5		0.0		0.0		3,069.5		0.0		20.6		147,623.0		0.0		0.0		2,607.6		46,444.0		2,625.0		53,751.5		42,194.9		5,799.8
	TOTAL ALL LEASES		3,622.5		0.0		0.0		3,069.5		0.0		20.6		147,623.0		0.0		0.0		2,607.6		46,444.0		2,625.0		53,751.5		42,194.9		5,799.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		8.5		0.0		0.0		7.2		0.0		0.0		44.100		0.000		0.000		318.8		0.0		0.0		318.8
12-31-2019		61.6		0.0		0.0		52.2		0.0		0.0		45.640		0.000		0.000		2,381.0		0.0		0.0		2,381.0
12-31-2020		45.1		0.0		0.0		38.2		0.0		0.0		46.920		0.000		0.000		1,791.3		0.0		0.0		1,791.3
12-31-2021		36.1		0.0		0.0		30.6		0.0		0.0		47.880		0.000		0.000		1,462.9		0.0		0.0		1,462.9
12-31-2022		30.5		0.0		0.0		25.9		0.0		0.0		48.780		0.000		0.000		1,262.5		0.0		0.0		1,262.5
12-31-2023		65.0		0.0		0.0		55.1		0.0		0.0		48.780		0.000		0.000		2,687.0		0.0		0.0		2,687.0
12-31-2024		62.0		0.0		0.0		52.5		0.0		0.0		48.780		0.000		0.000		2,562.6		0.0		0.0		2,562.6
12-31-2025		61.9		0.0		0.0		52.4		0.0		0.0		48.780		0.000		0.000		2,557.4		0.0		0.0		2,557.4
12-31-2026		54.4		0.0		0.0		46.1		0.0		0.0		48.780		0.000		0.000		2,249.1		0.0		0.0		2,249.1
12-31-2027		49.1		0.0		0.0		41.6		0.0		0.0		48.780		0.000		0.000		2,028.4		0.0		0.0		2,028.4
12-31-2028		44.9		0.0		0.0		38.0		0.0		0.0		48.780		0.000		0.000		1,855.6		0.0		0.0		1,855.6
12-31-2029		41.1		0.0		0.0		34.8		0.0		0.0		48.780		0.000		0.000		1,699.2		0.0		0.0		1,699.2
12-31-2030		37.5		0.0		0.0		31.8		0.0		0.0		48.780		0.000		0.000		1,550.4		0.0		0.0		1,550.4
SUBTOTAL		597.6		0.0		0.0		506.4		0.0		0.0		48.195		0.000		0.000		24,406.2		0.0		0.0		24,406.2
REMAINING		219.4		0.0		0.0		185.9		0.0		0.0		48.780		0.000		0.000		9,067.3		0.0		0.0		9,067.3
TOTAL		817.0		0.0		0.0		692.3		0.0		0.0		48.352		0.000		0.000		33,473.5		0.0		0.0		33,473.5
CUM PROD		0.0				0.0
ULTIMATE		817.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		5,143.1
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		2,815.2
12-31-2018		3		3.0		2.4		3.5		5,857.3		0.0		35.6		-5,580.0		-5,580.0		-4,516.2		15.000		1,698.5
12-31-2019		3		3.0		17.0		26.0		0.0		0.0		271.5		2,066.5		-3,513.5		-2,946.0		20.000		532.2
12-31-2020		3		3.0		12.3		19.5		0.0		0.0		218.3		1,541.2		-1,972.3		-1,882.3		25.000		-127.7
12-31-2021		3		3.0		9.8		16.1		0.0		0.0		189.0		1,248.0		-724.3		-1,099.8		30.000		-510.9
12-31-2022		3		3.0		8.4		13.8		0.0		0.0		171.3		1,069.0		344.7		-490.5		35.000		-732.7
12-31-2023		5		5.0		17.9		29.4		3,609.2		0.0		324.9		-1,294.4		-949.7		-1,183.7		40.000		-859.5
12-31-2024		6		6.0		17.0		28.1		1,565.0		0.0		335.2		617.3		-332.4		-902.8		45.000		-927.3
12-31-2025		6		6.0		17.1		28.0		0.0		0.0		345.1		2,167.2		1,834.8		25.3		50.000		-959.1
12-31-2026		6		6.0		15.1		24.5		0.0		0.0		321.1		1,888.4		3,723.2		760.0
12-31-2027		6		6.0		13.4		22.2		0.0		0.0		303.6		1,689.2		5,412.4		1,357.3
12-31-2028		6		6.0		12.2		20.2		0.0		0.0		290.3		1,532.9		6,945.3		1,850.2
12-31-2029		6		6.0		11.1		18.6		0.0		0.0		278.2		1,391.3		8,336.6		2,256.8
12-31-2030		6		6.0		10.1		16.8		0.0		0.0		266.3		1,257.2		9,593.8		2,590.7
SUBTOTAL						163.8		266.7		11,031.5		0.0		3,350.4		9,593.8		9,593.8		2,590.7
REMAINING						60.2		99.3		0.0		300.0		1,957.1		6,650.7		16,244.5		3,829.8
TOTAL OF 24.0 YRS						224.0		366.0		11,031.5		300.0		5,307.5		16,244.5		16,244.5		3,829.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
016390	FE NWU PRB		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		185.4		185.4		23.0
000461	NWU FUEL GAS PRB		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		23.0
021410	ABAN NWU PRB G		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		24.0
	PROSPECT TOTAL		0		0		0.0		0.0
NWU RANGER PROSPECT, LOS ANGELES COUNTY
013120	NRGR 11 PRP 01		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012170	NRGR 11 PRP 02		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012180	NRGR 11 PRP 03		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
022460	NURGR 14 PUI 1 IPB		0		0		40.6		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		23.0
016460	NURGR 14 PUP 1 IPB		0		0		0.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.3		23.0
022430	NURGR 14 PRI 1		0		0		116.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		1.2		23.0
012090	NURGR 14 PRP 1		1		0		56.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.5		23.0
	PROSPECT TOTAL		1		0		214.5		0.0
NWU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
512750	NUTH 13 PUI 1 EXT		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		2.3
512760	NUTH 13 PUI 2 EXT		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		2.3
015830	NUTH 13 PUP 1 IPB		1		0		124.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.5		23.0
016410	NUTH 13 PUP 2 IPB		1		0		124.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.5		23.0
016420	NUTH 13 PUP 3 IPB		1		0		124.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.5		23.0
012730	NUTH 13 PRP 1		1		0		115.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.7		23.0
012740	NUTH 13 PRP 2		1		0		115.0		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.7		23.0
	PROSPECT TOTAL		5		0		602.5		0.0
	TOTAL CALIFORNIA		6		0		817.0		0.0
	TOTAL ALL LEASES		6		0		817.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
016390	FE NWU PRB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000461	NWU FUEL GAS PRB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021410	ABAN NWU PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		300.0		0.0		-300.0		-30.6
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		300.0		0.0		-300.0		-30.6
NWU RANGER PROSPECT, LOS ANGELES COUNTY
013120	NRGR 11 PRP 01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012170	NRGR 11 PRP 02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012180	NRGR 11 PRP 03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
022460	NURGR 14 PUI 1 IPB		40.6		0.0		0.0		34.4		0.0		0.0		1,671.7		0.0		0.0		29.4		0.0		0.0		131.1		1,511.2		564.1
016460	NURGR 14 PUP 1 IPB		0.1		0.0		0.0		0.1		0.0		0.0		7.3		0.0		0.0		0.1		0.0		0.0		0.5		6.7		-19.0
022430	NURGR 14 PRI 1		116.9		0.0		0.0		99.0		0.0		0.0		4,830.6		0.0		0.0		84.9		1,237.0		0.0		377.6		3,131.1		569.3
012090	NURGR 14 PRP 1		56.9		0.0		0.0		48.2		0.0		0.0		2,350.4		0.0		0.0		41.3		1,565.0		0.0		551.1		193.0		-211.8
	PROSPECT TOTAL		214.5		0.0		0.0		181.7		0.0		0.0		8,860.0		0.0		0.0		155.7		2,802.0		0.0		1,060.3		4,842.0		902.6
NWU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
512750	NUTH 13 PUI 1 EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		1,149.5		0.0		0.0		-1,149.5		-938.8
512760	NUTH 13 PUI 2 EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		1,149.5		0.0		0.0		-1,149.5		-931.3
015830	NUTH 13 PUP 1 IPB		124.2		0.0		0.0		105.2		0.0		0.0		5,033.0		0.0		0.0		88.9		1,186.1		0.0		903.7		2,854.3		1,105.0
016410	NUTH 13 PUP 2 IPB		124.1		0.0		0.0		105.1		0.0		0.0		5,032.6		0.0		0.0		89.0		1,186.1		0.0		901.3		2,856.2		1,100.3
016420	NUTH 13 PUP 3 IPB		124.1		0.0		0.0		105.1		0.0		0.0		5,032.6		0.0		0.0		89.0		1,186.1		0.0		901.3		2,856.2		1,100.3
012730	NUTH 13 PRP 1		115.2		0.0		0.0		97.6		0.0		0.0		4,762.0		0.0		0.0		84.0		1,186.1		0.0		771.8		2,720.1		764.5
012740	NUTH 13 PRP 2		115.0		0.0		0.0		97.4		0.0		0.0		4,753.3		0.0		0.0		83.4		1,186.1		0.0		769.1		2,714.7		757.8
	PROSPECT TOTAL		602.5		0.0		0.0		510.5		0.0		0.0		24,613.5		0.0		0.0		434.3		8,229.5		0.0		4,247.2		11,702.5		2,957.8
	TOTAL CALIFORNIA		817.0		0.0		0.0		692.3		0.0		0.0		33,473.5		0.0		0.0		590.0		11,031.5		300.0		5,307.5		16,244.5		3,829.8
	TOTAL ALL LEASES		817.0		0.0		0.0		692.3		0.0		0.0		33,473.5		0.0		0.0		590.0		11,031.5		300.0		5,307.5		16,244.5		3,829.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		2.8		0.0		0.0		2.3		0.0		0.0		44.100		0.000		0.000		103.5		0.0		0.0		103.5
12-31-2019		22.3		0.0		0.0		18.9		0.0		0.0		45.640		0.000		0.000		863.2		0.0		0.0		863.2
12-31-2020		18.2		0.0		0.0		15.4		0.0		0.0		46.920		0.000		0.000		724.8		0.0		0.0		724.8
12-31-2021		15.2		0.0		0.0		12.9		0.0		0.0		47.880		0.000		0.000		617.9		0.0		0.0		617.9
12-31-2022		13.0		0.0		0.0		11.0		0.0		0.0		48.780		0.000		0.000		538.7		0.0		0.0		538.7
12-31-2023		24.9		0.0		0.0		21.1		0.0		0.0		48.780		0.000		0.000		1,027.4		0.0		0.0		1,027.4
12-31-2024		22.8		0.0		0.0		19.3		0.0		0.0		48.780		0.000		0.000		942.7		0.0		0.0		942.7
12-31-2025		19.6		0.0		0.0		16.6		0.0		0.0		48.780		0.000		0.000		810.8		0.0		0.0		810.8
12-31-2026		19.2		0.0		0.0		16.2		0.0		0.0		48.780		0.000		0.000		791.6		0.0		0.0		791.6
12-31-2027		45.4		0.0		0.0		38.5		0.0		0.0		48.780		0.000		0.000		1,876.1		0.0		0.0		1,876.1
12-31-2028		57.1		0.0		0.0		48.4		0.0		0.0		48.780		0.000		0.000		2,360.4		0.0		0.0		2,360.4
12-31-2029		54.6		0.0		0.0		46.3		0.0		0.0		48.780		0.000		0.000		2,257.8		0.0		0.0		2,257.8
12-31-2030		52.4		0.0		0.0		44.4		0.0		0.0		48.780		0.000		0.000		2,165.4		0.0		0.0		2,165.4
SUBTOTAL		367.5		0.0		0.0		311.4		0.0		0.0		48.424		0.000		0.000		15,080.3		0.0		0.0		15,080.3
REMAINING		324.2		0.0		0.0		274.7		0.0		0.0		48.780		0.000		0.000		13,399.0		0.0		0.0		13,399.0
TOTAL		691.7		0.0		0.0		586.1		0.0		0.0		48.591		0.000		0.000		28,479.3		0.0		0.0		28,479.3
CUM PROD		0.0				0.0
ULTIMATE		691.7				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		6,267.4
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		4,121.0
12-31-2018		0		0.0		0.8		1.2		0.0		0.0		8.9		92.6		92.6		73.9		15.000		3,143.3
12-31-2019		0		0.0		6.2		9.5		0.0		0.0		72.2		775.3		867.9		662.4		20.000		2,151.5
12-31-2020		0		0.0		5.1		8.0		0.0		0.0		58.8		652.9		1,520.8		1,112.7		25.000		1,585.6
12-31-2021		0		0.0		4.2		6.8		0.0		0.0		49.2		557.7		2,078.5		1,462.4		30.000		1,235.1
12-31-2022		0		0.0		3.6		5.9		0.0		0.0		42.1		487.1		2,565.6		1,740.0		35.000		1,000.6
12-31-2023		0		0.0		6.7		11.2		0.0		0.0		80.3		929.2		3,494.8		2,219.7		40.000		834.0
12-31-2024		0		0.0		6.2		10.3		0.0		0.0		73.7		852.5		4,347.3		2,621.1		45.000		708.2
12-31-2025		0		0.0		5.3		9.0		0.0		0.0		63.4		733.1		5,080.4		2,935.1		50.000		610.9
12-31-2026		2		2.0		5.3		8.4		6,841.0		0.0		65.8		-6,128.9		-1,048.5		615.9
12-31-2027		2		2.0		12.5		20.4		0.0		0.0		195.1		1,648.1		599.6		1,195.0
12-31-2028		2		2.0		15.4		25.6		0.0		0.0		232.9		2,086.5		2,686.1		1,865.3
12-31-2029		2		2.0		15.0		24.8		0.0		0.0		224.8		1,993.2		4,679.3		2,447.8
12-31-2030		2		2.0		14.4		23.6		0.0		0.0		217.5		1,909.9		6,589.2		2,955.0
SUBTOTAL						100.7		164.7		6,841.0		0.0		1,384.7		6,589.2		6,589.2		2,955.0
REMAINING						89.0		146.4		0.0		375.0		1,463.1		11,325.5		17,914.7		5,038.9
TOTAL OF 24.0 YRS						189.7		311.1		6,841.0		375.0		2,847.8		17,914.7		17,914.7		5,038.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
016400	FE NWU POS		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		185.4		185.4		23.0
000463	NWU FUEL GAS POS		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		23.0
021420	ABAN NWU POS G		0		0		0.0		0.0		100.000		100.000		84.733		84.733		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		24.0
	PROSPECT TOTAL		0		0		0.0		0.0
NWU RANGER PROSPECT, LOS ANGELES COUNTY
022440	NURGR 14 PSI 1		0		0		104.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		1.4		23.0
022450	NURGR 14 PSI 2		0		0		104.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		1.4		23.0
022410	NURGR 14 PSI 3		0		0		103.6		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		0.0		1.5		23.0
012010	NURGR 14 PSP 1		1		0		51.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.6		23.0
013200	NURGR 14 PSP 2		1		0		51.9		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.6		23.0
	PROSPECT TOTAL		2		0		415.4		0.0
NWU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
016430	NUTH 13 PUP 1 IPS		0		0		57.2		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.7		23.0
016440	NUTH 13 PUP 2 IPS		0		0		57.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.7		23.0
016450	NUTH 13 PUP 3 IPS		0		0		57.1		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		2.7		23.0
015240	NUTH 13 PRP 1 IPS		0		0		52.5		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		3.0		23.0
015250	NUTH 13 PRP 2 IPS		0		0		52.4		0.0		100.000		100.000		84.733		84.733		38.420		48.780		0.000		0.000		0.000		0.000		2.0		3.1		23.0
	PROSPECT TOTAL		0		0		276.3		0.0
	TOTAL CALIFORNIA		2		0		691.7		0.0
	TOTAL ALL LEASES		2		0		691.7		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES NORTH WILMINGTON UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES							NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		��	OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF			MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
NWU GENERAL PROSPECT, LOS ANGELES COUNTY
016400	FE NWU POS		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000463	NWU FUEL GAS POS		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021420	ABAN NWU POS G		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		375.0		0.0		-375.0		-38.2
	PROSPECT TOTAL		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		375.0		0.0		-375.0		-38.2
NWU RANGER PROSPECT, LOS ANGELES COUNTY
022440	NURGR 14 PSI 1		104.1		0.0		0.0			88.2		0.0		0.0		4,300.7		0.0		0.0		75.4		1,237.0		0.0		336.0		2,652.3		394.2
022450	NURGR 14 PSI 2		104.1		0.0		0.0			88.2		0.0		0.0		4,300.7		0.0		0.0		75.4		1,237.0		0.0		336.0		2,652.3		394.2
022410	NURGR 14 PSI 3		103.6		0.0		0.0			87.8		0.0		0.0		4,282.0		0.0		0.0		75.1		1,237.0		0.0		334.6		2,635.3		389.2
012010	NURGR 14 PSP 1		51.9		0.0		0.0			44.0		0.0		0.0		2,143.9		0.0		0.0		37.5		1,565.0		0.0		474.4		67.0		-179.6
013200	NURGR 14 PSP 2		51.9		0.0		0.0			44.0		0.0		0.0		2,143.9		0.0		0.0		37.5		1,565.0		0.0		474.4		67.0		-179.6
	PROSPECT TOTAL		415.4		0.0		0.0			352.0		0.0		0.0		17,171.2		0.0		0.0		300.9		6,841.0		0.0		1,955.4		8,073.9		818.4
NWU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
016430	NUTH 13 PUP 1 IPS		57.2		0.0		0.0			48.4		0.0		0.0		2,324.4		0.0		0.0		41.0		0.0		0.0		184.7		2,098.7		986.0
016440	NUTH 13 PUP 2 IPS		57.1		0.0		0.0			48.4		0.0		0.0		2,323.4		0.0		0.0		41.2		0.0		0.0		184.5		2,097.7		979.2
016450	NUTH 13 PUP 3 IPS		57.1		0.0		0.0			48.4		0.0		0.0		2,323.4		0.0		0.0		41.2		0.0		0.0		184.5		2,097.7		979.2
015240	NUTH 13 PRP 1 IPS		52.5		0.0		0.0			44.5		0.0		0.0		2,170.8		0.0		0.0		38.2		0.0		0.0		169.5		1,963.1		660.0
015250	NUTH 13 PRP 2 IPS		52.4		0.0		0.0			44.4		0.0		0.0		2,166.1		0.0		0.0		38.3		0.0		0.0		169.2		1,958.6		654.3
	PROSPECT TOTAL		276.3		0.0		0.0			234.1		0.0		0.0		11,308.1		0.0		0.0		199.9		0.0		0.0		892.4		10,215.8		4,258.7
	TOTAL CALIFORNIA		691.7		0.0		0.0			586.1		0.0		0.0		28,479.3		0.0		0.0		500.8		6,841.0		375.0		2,847.8		17,914.7		5,038.9
	TOTAL ALL LEASES		691.7		0.0		0.0			586.1		0.0		0.0		28,479.3		0.0		0.0		500.8		6,841.0		375.0		2,847.8		17,914.7		5,038.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING M-D-Y	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		328.3		0.0		0.0		266.1		0.0		56.7		38.420		0.000		1.645		10,222.5		0.0		93.2		10,315.7
12-31-2017		770.2		0.0		0.0		624.3		0.0		136.0		42.420		0.000		1.645		26,480.2		0.0		223.7		26,703.9
12-31-2018		810.2		0.0		0.0		656.6		0.0		136.0		44.100		0.000		1.645		28,957.6		0.0		223.7		29,181.3
12-31-2019		804.1		0.0		0.0		651.7		0.0		136.0		45.640		0.000		1.645		29,743.8		0.0		223.7		29,967.5
12-31-2020		1,025.9		0.0		0.0		831.5		0.0		136.0		46.920		0.000		1.645		39,014.9		0.0		223.7		39,238.6
12-31-2021		987.6		0.0		0.0		800.5		0.0		136.0		47.880		0.000		1.645		38,327.4		0.0		223.7		38,551.1
12-31-2022		870.7		0.0		0.0		705.7		0.0		136.0		48.780		0.000		1.645		34,423.5		0.0		223.7		34,647.2
12-31-2023		783.3		0.0		0.0		634.9		0.0		136.0		48.780		0.000		1.645		30,968.1		0.0		223.7		31,191.8
12-31-2024		710.0		0.0		0.0		575.5		0.0		136.0		48.780		0.000		1.645		28,073.0		0.0		223.7		28,296.7
12-31-2025		644.9		0.0		0.0		522.7		0.0		136.0		48.780		0.000		1.645		25,496.0		0.0		223.7		25,719.7
12-31-2026		582.4		0.0		0.0		472.1		0.0		136.0		48.780		0.000		1.645		23,028.2		0.0		223.7		23,251.9
12-31-2027		526.2		0.0		0.0		426.5		0.0		136.0		48.780		0.000		1.645		20,805.8		0.0		223.7		21,029.5
12-31-2028		474.1		0.0		0.0		384.3		0.0		136.0		48.780		0.000		1.645		18,746.0		0.0		223.7		18,969.7
12-31-2029		429.3		0.0		0.0		348.0		0.0		136.0		48.780		0.000		1.645		16,972.7		0.0		223.7		17,196.4
12-31-2030		389.1		0.0		0.0		315.4		0.0		136.0		48.780		0.000		1.645		15,384.6		0.0		223.7		15,608.3
SUBTOTAL		10,136.4		0.0		0.0		8,215.6		0.0		1,960.4		47.062		0.000		1.645		386,644.3		0.0		3,225.0		389,869.3
REMAINING		1,827.0		0.0		0.0		1,480.8		0.0		985.9		48.780		0.000		1.645		72,232.0		0.0		1,621.9		73,853.9
TOTAL		11,963.4		0.0		0.0		9,696.4		0.0		2,946.3		47.325		0.000		1.645		458,876.3		0.0		4,846.9		463,723.2
CUM PROD		139,896.9				55,392.1
ULTIMATE		151,860.2				55,392.1

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		107		105.8		86.5		111.8		158.8		0.0		3,982.7		5,975.9		5,975.9		5,864.3		8.000		92,439.1
12-31-2017		120		118.7		202.1		289.3		14,701.9		0.0		9,723.2		1,787.4		7,763.3		7,354.2		12.000		73,037.5
12-31-2018		132		130.5		212.9		316.2		7,240.9		123.6		10,209.8		11,077.9		18,841.2		16,698.4		15.000		61,921.1
12-31-2019		141		139.4		211.1		324.7		31,211.3		123.6		10,587.4		-12,490.6		6,350.6		7,228.3		20.000		48,119.0
12-31-2020		154		152.3		270.0		426.4		19,081.9		247.2		11,733.4		7,479.7		13,830.3		12,234.4		25.000		38,454.6
12-31-2021		149		147.4		258.3		418.5		0.0		247.2		11,718.7		25,908.4		39,738.7		28,475.3		30.000		31,535.0
12-31-2022		146		144.4		229.2		376.7		0.0		247.2		11,313.4		22,480.7		62,219.4		41,281.6		35.000		26,466.7
12-31-2023		145		143.4		205.5		338.3		0.0		247.2		10,937.8		19,463.0		81,682.4		51,359.0		40.000		22,674.3
12-31-2024		142		140.4		186.5		306.5		0.0		247.2		10,637.0		16,919.5		98,601.9		59,323.4		45.000		19,784.0
12-31-2025		140		138.5		169.2		278.4		0.0		247.2		10,426.9		14,598.0		113,199.9		65,570.2		50.000		17,540.6
12-31-2026		138		136.5		152.7		252.0		0.0		247.2		10,076.6		12,523.4		125,723.3		70,440.7
12-31-2027		133		131.5		138.1		227.4		0.0		247.2		9,734.9		10,681.9		136,405.2		74,218.0
12-31-2028		127		125.6		124.4		204.8		0.0		123.6		9,345.9		9,171.0		145,576.2		77,168.4
12-31-2029		122		120.7		112.8		185.0		0.0		123.6		9,064.9		7,710.1		153,286.3		79,423.1
12-31-2030		119		117.7		102.5		168.3		0.0		123.6		8,819.7		6,394.2		159,680.5		81,123.1
SUBTOTAL						2,661.8		4,224.3		72,394.8		2,595.6		148,312.3		159,680.5		159,680.5		81,123.1
REMAINING						480.9		788.9		0.0		25,099.9		54,136.3		-6,652.1		153,028.4		81,996.5
TOTAL OF 22.7 YRS						3,142.7		5,013.2		72,394.8		27,695.5		202,448.6		153,028.4		153,028.4		81,996.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING M-D-Y	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		325.2		0.0		0.0		263.6		0.0		22.2		38.420		0.000		0.000		10,126.9		0.0		0.0		10,126.9
12-31-2017		706.2		0.0		0.0		572.4		0.0		53.2		42.420		0.000		0.000		24,281.0		0.0		0.0		24,281.0
12-31-2018		614.0		0.0		0.0		497.6		0.0		53.2		44.100		0.000		0.000		21,944.2		0.0		0.0		21,944.2
12-31-2019		542.3		0.0		0.0		439.5		0.0		53.2		45.640		0.000		0.000		20,058.7		0.0		0.0		20,058.7
12-31-2020		486.3		0.0		0.0		394.1		0.0		53.2		46.920		0.000		0.000		18,492.4		0.0		0.0		18,492.4
12-31-2021		436.3		0.0		0.0		353.6		0.0		53.2		47.880		0.000		0.000		16,929.5		0.0		0.0		16,929.5
12-31-2022		395.3		0.0		0.0		320.4		0.0		53.2		48.780		0.000		0.000		15,630.0		0.0		0.0		15,630.0
12-31-2023		358.6		0.0		0.0		290.6		0.0		53.2		48.780		0.000		0.000		14,176.3		0.0		0.0		14,176.3
12-31-2024		326.8		0.0		0.0		264.9		0.0		53.2		48.780		0.000		0.000		12,921.5		0.0		0.0		12,921.5
12-31-2025		298.9		0.0		0.0		242.2		0.0		53.2		48.780		0.000		0.000		11,815.8		0.0		0.0		11,815.8
12-31-2026		270.1		0.0		0.0		218.9		0.0		53.2		48.780		0.000		0.000		10,678.6		0.0		0.0		10,678.6
12-31-2027		245.0		0.0		0.0		198.6		0.0		53.2		48.780		0.000		0.000		9,686.5		0.0		0.0		9,686.5
12-31-2028		220.1		0.0		0.0		178.4		0.0		53.2		48.780		0.000		0.000		8,701.9		0.0		0.0		8,701.9
12-31-2029		198.7		0.0		0.0		161.1		0.0		53.2		48.780		0.000		0.000		7,855.7		0.0		0.0		7,855.7
12-31-2030		179.8		0.0		0.0		145.7		0.0		53.2		48.780		0.000		0.000		7,108.6		0.0		0.0		7,108.6
SUBTOTAL		5,603.4		0.0		0.0		4,541.6		0.0		766.9		46.329		0.000		0.000		210,407.6		0.0		0.0		210,407.6
REMAINING		135.0		0.0		0.0		109.4		0.0		44.3		48.780		0.000		0.000		5,337.0		0.0		0.0		5,337.0
TOTAL		5,738.4		0.0		0.0		4,651.0		0.0		811.2		46.387		0.000		0.000		215,744.6		0.0		0.0		215,744.6
CUM PROD		138,144.7				55,263.9
ULTIMATE		143,883.1				55,263.9

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		106		104.8		85.7		110.8		0.0		0.0		3,931.8		5,998.6		5,998.6		5,885.6		8.000		62,912.1
12-31-2017		106		104.8		185.2		265.4		0.0		0.0		9,221.6		14,608.8		20,607.4		19,301.6		12.000		57,453.0
12-31-2018		106		104.8		161.4		239.3		0.0		123.6		8,819.5		12,600.4		33,207.8		29,816.4		15.000		53,672.2
12-31-2019		100		98.9		142.4		219.1		0.0		123.6		8,500.2		11,073.4		44,281.2		38,213.5		20.000		48,130.1
12-31-2020		99		97.9		127.5		202.1		0.0		247.2		8,261.8		9,653.8		53,935.0		44,865.4		25.000		43,511.8
12-31-2021		94		93.0		114.3		185.0		0.0		247.2		7,950.4		8,432.6		62,367.6		50,146.9		30.000		39,682.3
12-31-2022		91		90.0		103.8		171.0		0.0		247.2		7,760.2		7,347.8		69,715.4		54,329.4		35.000		36,495.3
12-31-2023		90		89.0		94.0		154.9		0.0		247.2		7,559.8		6,120.4		75,835.8		57,495.7		40.000		33,818.4
12-31-2024		88		87.0		85.5		140.8		0.0		247.2		7,418.1		5,029.9		80,865.7		59,860.8		45.000		31,553.0
12-31-2025		87		86.0		78.5		129.1		0.0		247.2		7,316.4		4,044.6		84,910.3		61,589.3		50.000		29,617.0
12-31-2026		85		84.1		70.8		117.1		0.0		247.2		7,087.3		3,156.2		88,066.5		62,814.9
12-31-2027		82		81.1		64.2		105.9		0.0		247.2		6,913.6		2,355.6		90,422.1		63,646.2
12-31-2028		78		77.1		57.6		95.3		0.0		123.6		6,662.9		1,762.5		92,184.6		64,213.3
12-31-2029		74		73.2		52.4		85.7		0.0		123.6		6,473.9		1,120.1		93,304.7		64,541.1
12-31-2030		71		70.2		47.2		77.7		0.0		123.6		6,317.7		542.4		93,847.1		64,685.2
SUBTOTAL						1,470.5		2,299.2		0.0		2,595.6		110,195.2		93,847.1		93,847.1		64,685.2
REMAINING						35.9		58.4		0.0		21,465.5		5,088.3		-21,311.1		72,536.0		60,138.4
TOTAL OF 16.3 YRS						1,506.4		2,357.6		0.0		24,061.1		115,283.5		72,536.0		72,536.0		60,138.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
WTU FORD PROSPECT, LOS ANGELES COUNTY
013730	WTU 2136 FORD		1		0		62.6		2.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.5		15.3
013770	WTU 2141 FORD		1		0		88.8		2.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.6		15.3
013720	WTU 2150 FORD		1		0		123.1		5.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.3		3.7		15.3
013760	WTU 2221 FORD		1		0		87.0		4.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.6		15.3
015220	WTU 2273 FORD		1		0		22.4		1.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.7		3.5		6.3
012240	WTU FORD SI		0		0		19,237.0		20,308.7		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		5		0		19,621.0		20,323.8
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
005690	FE WTU PDP		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		264.0		264.0		15.3
000319	WTU FUEL GAS PDP		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		15.3
019850	ABAN IA WTU PDP G		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.5
019680	ABAN WTU PDP G		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		16.3
005751	CASING FLUSH VOLS		0		0		17.9		0.0		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		2.9		1.4		2.0
	PROSPECT TOTAL		0		0		17.9		0.0
WTU RANGER PROSPECT, LOS ANGELES COUNTY
008750	WTU 0938 RGR SI		0		0		157.1		8.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
007420	WTU 1414 RGR		1		0		154.3		5.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.6		15.3
007870	WTU 1415 RGR SI		0		0		145.7		7.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
007400	WTU 1474 RGR SI		0		0		110.6		5.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008720	WTU 1554 RGR		0		0		155.9		5.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.5		0.3		15.3
008740	WTU 1595 RGR		0		0		148.7		6.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.5		0.2		15.3
008760	WTU 1625 RGR SI		0		0		73.9		3.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008680	WTU 1673 RGR SI		0		0		75.0		4.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
006240	WTU 1871 RGR SI		0		0		99.5		3.8		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008620	WTU 1873 RGR SI		0		0		73.3		3.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013350	WTU 2155 RGR		1		0		90.1		4.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.6		15.3
023560	WTU 2156 RGR		1		0		144.8		4.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		3.9		15.3
014480	WTU 2213 RGR		1		0		117.0		2.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.9		15.3
013600	WTU 2215 RGR		1		0		68.0		1.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.6		15.3
013380	WTU 2216 RGR		1		0		79.6		1.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.7		15.3
014370	WTU 2218 RGR		1		0		92.5		2.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.7		15.3
009800	WTU 2226 RGR		1		0		171.7		7.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		3.8		15.3
014380	WTU 2228 RGR		1		0		91.7		1.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.8		15.3
013430	WTU 2233 RGR		1		0		189.5		7.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.6		4.1		15.3
005810	WTU 2235 RGR SI		0		0		38.8		3.7		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013570	WTU 2243 RGR		1		0		123.6		2.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.9		15.3
004610	WTU 2265 RGR		0		0		1.5		0.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005650	WTU 2266 RGR		0		0		1.0		0.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004920	WTU 2267 RGR		0		0		0.7		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005150	WTU 2268 RGR		0		0		2.0		0.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004090	WTU 2269 RGR		0		0		16.9		1.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
WTU FORD PROSPECT, LOS ANGELES COUNTY
013730	WTU 2136 FORD		42.2		0.0		0.0		34.2		0.0		0.0		1,577.2		0.0		0.0		28.2		0.0		0.0		707.9		841.1		582.8
013770	WTU 2141 FORD		59.2		0.0		0.0		48.0		0.0		0.0		2,208.9		0.0		0.0		39.9		0.0		0.0		756.1		1,412.9		952.3
013720	WTU 2150 FORD		73.2		0.0		0.0		59.3		0.0		0.0		2,735.5		0.0		0.0		49.2		0.0		0.0		795.6		1,890.7		1,240.4
013760	WTU 2221 FORD		50.5		0.0		0.0		41.0		0.0		0.0		1,890.8		0.0		0.0		33.8		0.0		0.0		731.5		1,125.5		758.6
015220	WTU 2273 FORD		9.6		0.0		0.0		7.8		0.0		0.0		350.7		0.0		0.0		6.3		0.0		0.0		271.7		72.7		59.7
012240	WTU FORD SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		234.7		0.0		0.0		190.2		0.0		0.0		8,763.1		0.0		0.0		157.4		0.0		0.0		3,262.8		5,342.9		3,593.8
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
005690	FE WTU PDP		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		47,772.2		-47,772.2		-25,184.8
000319	WTU FUEL GAS PDP		0.0		0.0		0.0		0.0		0.0		811.2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019850	ABAN IA WTU PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		2,966.5		0.0		-2,966.5		-1,447.7
019680	ABAN WTU PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		21,094.6		0.0		-21,094.6		-4,500.5
005751	CASING FLUSH VOLS		17.9		0.0		0.0		14.5		0.0		0.0		604.3		0.0		0.0		11.3		0.0		0.0		50.6		542.4		500.4
	PROSPECT TOTAL		17.9		0.0		0.0		14.5		0.0		811.2		604.3		0.0		0.0		11.3		0.0		24,061.1		47,822.8		-71,290.9		-30,632.6
WTU RANGER PROSPECT, LOS ANGELES COUNTY
008750	WTU 0938 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
007420	WTU 1414 RGR		30.5		0.0		0.0		24.8		0.0		0.0		1,161.7		0.0		0.0		20.7		0.0		0.0		675.0		466.0		284.2
007870	WTU 1415 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
007400	WTU 1474 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008720	WTU 1554 RGR		24.4		0.0		0.0		19.8		0.0		0.0		929.4		0.0		0.0		16.5		0.0		0.0		68.9		844.0		475.6
008740	WTU 1595 RGR		23.2		0.0		0.0		18.8		0.0		0.0		883.1		0.0		0.0		15.7		0.0		0.0		65.5		801.9		451.9
008760	WTU 1625 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008680	WTU 1673 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
006240	WTU 1871 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008620	WTU 1873 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013350	WTU 2155 RGR		47.8		0.0		0.0		38.8		0.0		0.0		1,803.6		0.0		0.0		32.2		0.0		0.0		723.8		1,047.6		675.7
023560	WTU 2156 RGR		94.8		0.0		0.0		76.8		0.0		0.0		3,565.2		0.0		0.0		63.7		0.0		0.0		856.5		2,645.0		1,649.1
014480	WTU 2213 RGR		90.4		0.0		0.0		73.3		0.0		0.0		3,409.6		0.0		0.0		61.2		0.0		0.0		844.4		2,504.0		1,553.8
013600	WTU 2215 RGR		55.1		0.0		0.0		44.7		0.0		0.0		2,079.5		0.0		0.0		37.1		0.0		0.0		744.6		1,297.8		826.5
013380	WTU 2216 RGR		60.8		0.0		0.0		49.3		0.0		0.0		2,294.6		0.0		0.0		41.2		0.0		0.0		760.9		1,492.5		944.1
014370	WTU 2218 RGR		70.1		0.0		0.0		56.8		0.0		0.0		2,642.2		0.0		0.0		47.3		0.0		0.0		786.9		1,808.0		1,134.3
009800	WTU 2226 RGR		94.1		0.0		0.0		76.3		0.0		0.0		3,531.2		0.0		0.0		63.4		0.0		0.0		855.0		2,612.8		1,682.1
014380	WTU 2228 RGR		72.3		0.0		0.0		58.6		0.0		0.0		2,727.8		0.0		0.0		48.7		0.0		0.0		793.1		1,886.0		1,181.0
013430	WTU 2233 RGR		115.3		0.0		0.0		93.4		0.0		0.0		4,347.3		0.0		0.0		77.7		0.0		0.0		914.8		3,354.8		2,066.2
005810	WTU 2235 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013570	WTU 2243 RGR		94.9		0.0		0.0		76.9		0.0		0.0		3,579.9		0.0		0.0		63.7		0.0		0.0		857.1		2,659.1		1,647.1
004610	WTU 2265 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005650	WTU 2266 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004920	WTU 2267 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005150	WTU 2268 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004090	WTU 2269 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
015230	WTU 2275 RGR		1		0		177.8		8.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.3		4.0		15.3
004930	WTU 2283 RGR		0		0		5.1		0.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013370	WTU 2305 RGR		1		0		23.1		1.6		98.896		98.896		81.050		81.050		38.420		47.880		0.000		0.000		0.000		0.000		3.8		3.5		5.1
013360	WTU 2318 RGR		1		0		34.5		2.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.5		9.6
004460	WTU 2355 RGR		0		0		3.0		0.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004940	WTU 2361 RGR		0		0		3.8		0.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005480	WTU 2363 RGR		0		0		5.3		0.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004320	WTU 2371 RGR		1		0		134.4		6.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.8		15.3
013560	WTU 2389 RGR		0		0		6.6		0.7		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004620	WTU 2565 RGR SI		0		0		29.8		2.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001380	WTU RGR SI		0		0		58,675.8		18,253.7		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		15		0		61,522.6		18,369.1
WTU TAR PROSPECT, LOS ANGELES COUNTY
005830	WTU 0780 TAR SI		0		0		21.7		1.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
006810	WTU 0914 TAR SI		0		0		301.7		20.5		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
007590	WTU 1832 TAR SI		0		0		132.2		9.9		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
006630	WTU 1893 TAR SI		0		0		153.2		10.6		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005840	WTU 1894 TAR		1		0		253.8		18.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.8		3.5		9.1
005910	WTU 1901 TAR SI		0		0		31.6		1.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005850	WTU 1902 TAR SI		0		0		37.7		2.7		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003010	WTU 2113 TARDU		1		0		156.2		7.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.7		15.3
004700	WTU 2119 TAR		1		0		39.7		1.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.5		11.6
012940	WTU 2135 TARD3		1		0		129.0		4.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.6		3.9		15.3
023580	WTU 2146 TARDU		1		0		205.6		7.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		9.2		4.2		15.3
013930	WTU 2153 TAR		1		0		59.0		3.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.2		3.5		11.8
004250	WTU 2160 TAR		1		0		174.9		8.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.8		3.9		15.3
004240	WTU 2164 TAR		1		0		88.3		4.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		15.0
003980	WTU 2166 TAR		1		0		174.0		7.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.9		15.3
004080	WTU 2168 TAR		1		0		140.1		6.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.7		15.3
005520	WTU 2171 TAR		1		0		158.7		7.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.8		15.3
005060	WTU 2193 TAR		1		0		76.7		3.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.8		3.5		11.3
008870	WTU 2225 TAR		1		0		86.0		5.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		12.8
013890	WTU 2232 TAR		1		0		234.9		14.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		4.0		15.3
008860	WTU 2238 TAR		1		0		154.4		7.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.9		15.3
004340	WTU 2239 TAR		1		0		135.4		7.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.5		15.3
013920	WTU 2241 TAR		1		0		135.4		8.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.6		15.3
014050	WTU 2242 TAR		1		0		43.4		4.1		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		3.7		3.5		2.0
014000	WTU 2245 TAR		1		0		101.8		7.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.4		3.5		13.8
014040	WTU 2247 TAR		1		0		56.9		5.3		98.896		98.896		81.050		81.050		38.420		46.920		0.000		0.000		0.000		0.000		3.7		3.5		4.2
005370	WTU 2249 TAR		1		0		296.8		15.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.5		4.2		15.3
004190	WTU 2250 TAR		1		0		155.9		9.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		15.3
008880	WTU 2272 TAR		1		0		74.3		5.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		12.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
015230	WTU 2275 RGR		104.0		0.0		0.0		84.3		0.0		0.0		3,921.0		0.0		0.0		70.0		0.0		0.0		882.8		2,968.2		1,833.5
004930	WTU 2283 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013370	WTU 2305 RGR		8.6		0.0		0.0		7.0		0.0		0.0		308.4		0.0		0.0		5.5		0.0		0.0		220.6		82.3		70.5
013360	WTU 2318 RGR		16.6		0.0		0.0		13.5		0.0		0.0		619.2		0.0		0.0		11.2		0.0		0.0		416.9		191.1		143.8
004460	WTU 2355 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004940	WTU 2361 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005480	WTU 2363 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004320	WTU 2371 RGR		65.8		0.0		0.0		53.4		0.0		0.0		2,493.4		0.0		0.0		44.3		0.0		0.0		774.8		1,674.3		1,008.9
013560	WTU 2389 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004620	WTU 2565 RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001380	WTU RGR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		1,068.9		0.0		0.0		866.4		0.0		0.0		40,297.1		0.0		0.0		720.1		0.0		0.0		11,241.6		28,335.4		17,628.3
WTU TAR PROSPECT, LOS ANGELES COUNTY
005830	WTU 0780 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
006810	WTU 0914 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
007590	WTU 1832 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
006630	WTU 1893 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005840	WTU 1894 TAR		15.3		0.0		0.0		12.4		0.0		0.0		569.7		0.0		0.0		10.3		0.0		0.0		394.0		165.4		126.1
005910	WTU 1901 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005850	WTU 1902 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003010	WTU 2113 TARDU		67.8		0.0		0.0		55.0		0.0		0.0		2,557.1		0.0		0.0		45.9		0.0		0.0		780.5		1,730.7		1,087.7
004700	WTU 2119 TAR		20.9		0.0		0.0		17.0		0.0		0.0		785.4		0.0		0.0		14.0		0.0		0.0		506.5		264.9		189.4
012940	WTU 2135 TARD3		89.4		0.0		0.0		72.5		0.0		0.0		3,355.1		0.0		0.0		60.0		0.0		0.0		841.6		2,453.5		1,556.3
023580	WTU 2146 TARDU		138.2		0.0		0.0		112.0		0.0		0.0		5,163.7		0.0		0.0		92.8		0.0		0.0		979.7		4,091.2		2,631.0
013930	WTU 2153 TAR		23.6		0.0		0.0		19.1		0.0		0.0		878.9		0.0		0.0		15.8		0.0		0.0		523.5		339.6		251.2
004250	WTU 2160 TAR		81.8		0.0		0.0		66.3		0.0		0.0		3,085.5		0.0		0.0		55.7		0.0		0.0		820.0		2,209.8		1,365.7
004240	WTU 2164 TAR		32.7		0.0		0.0		26.5		0.0		0.0		1,231.4		0.0		0.0		22.3		0.0		0.0		671.4		537.7		363.7
003980	WTU 2166 TAR		87.9		0.0		0.0		71.2		0.0		0.0		3,312.4		0.0		0.0		59.1		0.0		0.0		837.4		2,415.9		1,494.7
004080	WTU 2168 TAR		59.9		0.0		0.0		48.6		0.0		0.0		2,263.0		0.0		0.0		40.3		0.0		0.0		758.2		1,464.5		910.9
005520	WTU 2171 TAR		71.3		0.0		0.0		57.8		0.0		0.0		2,693.1		0.0		0.0		48.1		0.0		0.0		790.2		1,854.8		1,144.0
005060	WTU 2193 TAR		34.3		0.0		0.0		27.8		0.0		0.0		1,267.2		0.0		0.0		23.0		0.0		0.0		531.4		712.8		533.5
008870	WTU 2225 TAR		25.4		0.0		0.0		20.6		0.0		0.0		954.6		0.0		0.0		16.9		0.0		0.0		567.6		370.1		262.9
013890	WTU 2232 TAR		92.1		0.0		0.0		74.6		0.0		0.0		3,474.7		0.0		0.0		62.0		0.0		0.0		849.1		2,563.6		1,573.6
008860	WTU 2238 TAR		78.7		0.0		0.0		63.8		0.0		0.0		2,971.6		0.0		0.0		53.1		0.0		0.0		811.3		2,107.2		1,298.4
004340	WTU 2239 TAR		41.1		0.0		0.0		33.3		0.0		0.0		1,551.6		0.0		0.0		27.9		0.0		0.0		705.0		818.7		537.9
013920	WTU 2241 TAR		52.9		0.0		0.0		42.9		0.0		0.0		1,983.9		0.0		0.0		35.5		0.0		0.0		738.5		1,209.9		799.3
014050	WTU 2242 TAR		2.9		0.0		0.0		2.3		0.0		0.0		97.5		0.0		0.0		1.8		0.0		0.0		85.4		10.3		9.8
014000	WTU 2245 TAR		30.3		0.0		0.0		24.6		0.0		0.0		1,137.4		0.0		0.0		20.3		0.0		0.0		619.8		497.3		352.2
014040	WTU 2247 TAR		6.3		0.0		0.0		5.1		0.0		0.0		221.4		0.0		0.0		4.1		0.0		0.0		178.5		38.8		34.2
005370	WTU 2249 TAR		118.7		0.0		0.0		96.2		0.0		0.0		4,486.2		0.0		0.0		80.1		0.0		0.0		924.5		3,481.6		2,102.7
004190	WTU 2250 TAR		35.3		0.0		0.0		28.6		0.0		0.0		1,330.6		0.0		0.0		23.7		0.0		0.0		688.6		618.3		410.2
008880	WTU 2272 TAR		23.7		0.0		0.0		19.2		0.0		0.0		886.6		0.0		0.0		15.8		0.0		0.0		533.5		337.3		245.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
013910	WTU 2277 TAR		1		0		33.2		2.6		98.896		98.896		81.050		81.050		38.420		46.920		0.000		0.000		0.000		0.000		3.7		3.5		4.0
014020	WTU 2279 TAR		0		0		13.8		1.5		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013950	WTU 2284 TAR		0		0		11.2		1.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
022960	WTU 2303 TARD3		1		0		35.5		1.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.5		10.6
022000	WTU 2310 TARD2		0		0		7.6		0.8		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013990	WTU 2313 TARD3		1		0		51.7		2.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.4		3.5		14.3
000313	WTU 2356 TAR		0		0		3.5		0.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014030	WTU 2357 TARDU		1		0		62.2		4.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		12.9
005090	WTU 2360 TAR		0		0		1.2		0.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013940	WTU 2362 TAR		1		0		59.8		3.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.2		3.5		12.5
005230	WTU 2365 TAR		1		0		110.9		8.8		98.896		98.896		81.050		81.050		38.420		46.920		0.000		0.000		0.000		0.000		4.1		3.5		4.0
003950	WTU 2366 TAR		1		0		57.2		4.6		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		3.7		3.5		1.5
004120	WTU 2367 TAR		1		0		172.4		11.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.5		14.7
005300	WTU 2369 TAR		1		0		153.9		9.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.6		15.3
013970	WTU 2385 TAR		1		0		61.1		3.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		13.7
012450	WTU 2391 TARD3		1		0		61.7		4.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.6		3.5		10.7
013980	WTU 2394 TAR		1		0		49.8		3.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.2		3.5		9.7
013960	WTU 2395 TAR		1		0		32.7		2.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		6.7
022970	WTU 2397 TAR		1		0		47.6		3.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.2		3.5		9.3
005120	WTU 2498 TAR		1		0		340.4		19.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		4.3		15.3
005210	WTU 2507 TAR		1		0		380.1		18.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		7.3		4.6		15.3
004800	WTU 2511 TAR		1		0		221.5		12.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.7		15.3
005490	WTU 2519 TAR SI		0		0		169.3		11.8		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005260	WTU 2523 TAR		1		0		61.3		3.9		98.896		98.896		81.050		81.050		38.420		47.880		0.000		0.000		0.000		0.000		3.7		3.5		5.3
004780	WTU 2527 TAR		1		0		120.5		7.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.2		3.5		14.3
004560	WTU 2535 TAR		0		0		146.8		11.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004200	WTU 2547 TAR		1		0		164.6		9.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.5		15.1
004820	WTU 2551 TAR		1		0		241.7		13.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.9		15.3
005630	WTU 2569 TAR		1		0		283.0		16.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.9		15.3
004130	WTU 2573 TAR		1		0		309.3		16.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		4.0		15.3
005020	WTU 2577 TAR		1		0		266.7		13.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		4.0		15.3
004260	WTU 2581 TAR		1		0		300.5		15.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.7		4.2		15.3
004520	WTU 2585 TAR		1		0		242.9		13.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.8		15.3
005320	WTU 2589 TAR		1		0		202.2		11.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.7		15.3
003880	WTU 2597 TAR		1		0		113.9		6.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		15.3
003960	WTU 2605 TAR		1		0		200.9		11.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.6		15.3
001230	WTU TAR SI		0		0		11,404.0		4,102.8		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		52		0		20,006.0		4,601.3
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
008690	WTU 0938 UT SI		0		0		44.5		7.9		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
006020	WTU 1414 UT		0		0		64.3		4.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.2		0.1		15.3
006530	WTU 1415 UT SI		0		0		59.6		5.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
013910	WTU 2277 TAR		6.0		0.0		0.0		4.8		0.0		0.0		210.3		0.0		0.0		3.9		0.0		0.0		171.3		35.1		31.4
014020	WTU 2279 TAR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013950	WTU 2284 TAR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
022960	WTU 2303 TARD3		18.7		0.0		0.0		15.1		0.0		0.0		697.1		0.0		0.0		12.5		0.0		0.0		461.5		223.1		165.7
022000	WTU 2310 TARD2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013990	WTU 2313 TARD3		31.4		0.0		0.0		25.4		0.0		0.0		1,176.1		0.0		0.0		21.1		0.0		0.0		638.8		516.2		362.8
000313	WTU 2356 TAR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014030	WTU 2357 TARDU		26.8		0.0		0.0		21.7		0.0		0.0		1,002.3		0.0		0.0		18.0		0.0		0.0		574.4		409.9		295.9
005090	WTU 2360 TAR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013940	WTU 2362 TAR		25.2		0.0		0.0		20.4		0.0		0.0		941.6		0.0		0.0		16.7		0.0		0.0		553.9		371.0		268.7
005230	WTU 2365 TAR		8.4		0.0		0.0		6.8		0.0		0.0		293.3		0.0		0.0		5.4		0.0		0.0		178.1		109.8		97.7
003950	WTU 2366 TAR		2.4		0.0		0.0		1.9		0.0		0.0		80.1		0.0		0.0		1.5		0.0		0.0		64.7		13.9		13.3
004120	WTU 2367 TAR		47.0		0.0		0.0		38.1		0.0		0.0		1,759.9		0.0		0.0		32.1		0.0		0.0		702.3		1,025.5		709.9
005300	WTU 2369 TAR		43.8		0.0		0.0		35.5		0.0		0.0		1,654.8		0.0		0.0		29.2		0.0		0.0		712.7		912.9		579.9
013970	WTU 2385 TAR		29.0		0.0		0.0		23.5		0.0		0.0		1,086.5		0.0		0.0		19.4		0.0		0.0		609.4		457.7		323.0
012450	WTU 2391 TARD3		24.3		0.0		0.0		19.7		0.0		0.0		894.6		0.0		0.0		16.1		0.0		0.0		480.4		398.1		309.9
013980	WTU 2394 TAR		18.9		0.0		0.0		15.3		0.0		0.0		696.5		0.0		0.0		12.5		0.0		0.0		429.8		254.2		199.6
013960	WTU 2395 TAR		12.1		0.0		0.0		9.8		0.0		0.0		436.1		0.0		0.0		8.0		0.0		0.0		291.3		136.8		115.3
022970	WTU 2397 TAR		17.9		0.0		0.0		14.5		0.0		0.0		657.2		0.0		0.0		11.8		0.0		0.0		407.4		238.0		188.6
005120	WTU 2498 TAR		112.4		0.0		0.0		91.1		0.0		0.0		4,253.9		0.0		0.0		76.0		0.0		0.0		906.8		3,271.1		1,935.1
005210	WTU 2507 TAR		157.2		0.0		0.0		127.4		0.0		0.0		5,955.8		0.0		0.0		106.4		0.0		0.0		1,033.4		4,816.0		2,841.2
004800	WTU 2511 TAR		61.1		0.0		0.0		49.5		0.0		0.0		2,309.3		0.0		0.0		41.2		0.0		0.0		761.6		1,506.5		932.1
005490	WTU 2519 TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005260	WTU 2523 TAR		7.2		0.0		0.0		5.8		0.0		0.0		259.1		0.0		0.0		4.6		0.0		0.0		223.2		31.3		26.4
004780	WTU 2527 TAR		30.3		0.0		0.0		24.5		0.0		0.0		1,140.1		0.0		0.0		20.4		0.0		0.0		635.8		483.9		333.0
004560	WTU 2535 TAR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004200	WTU 2547 TAR		49.2		0.0		0.0		39.9		0.0		0.0		1,841.9		0.0		0.0		32.9		0.0		0.0		721.3		1,087.7		749.1
004820	WTU 2551 TAR		81.0		0.0		0.0		65.6		0.0		0.0		3,058.9		0.0		0.0		55.0		0.0		0.0		817.6		2,186.3		1,340.3
005630	WTU 2569 TAR		78.5		0.0		0.0		63.6		0.0		0.0		2,965.6		0.0		0.0		53.0		0.0		0.0		810.7		2,101.9		1,284.7
004130	WTU 2573 TAR		96.7		0.0		0.0		78.4		0.0		0.0		3,655.6		0.0		0.0		65.4		0.0		0.0		862.4		2,727.8		1,656.1
005020	WTU 2577 TAR		97.3		0.0		0.0		78.9		0.0		0.0		3,677.0		0.0		0.0		65.7		0.0		0.0		864.0		2,747.3		1,667.8
004260	WTU 2581 TAR		123.4		0.0		0.0		100.0		0.0		0.0		4,663.6		0.0		0.0		83.4		0.0		0.0		938.0		3,642.2		2,199.3
004520	WTU 2585 TAR		81.6		0.0		0.0		66.2		0.0		0.0		3,078.9		0.0		0.0		55.1		0.0		0.0		819.6		2,204.2		1,372.7
005320	WTU 2589 TAR		67.3		0.0		0.0		54.6		0.0		0.0		2,532.5		0.0		0.0		45.1		0.0		0.0		779.1		1,708.3		1,096.7
003880	WTU 2597 TAR		36.5		0.0		0.0		29.6		0.0		0.0		1,378.8		0.0		0.0		24.5		0.0		0.0		691.8		662.5		431.4
003960	WTU 2605 TAR		52.6		0.0		0.0		42.6		0.0		0.0		1,978.5		0.0		0.0		35.6		0.0		0.0		737.4		1,205.5		788.8
001230	WTU TAR SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		2,674.4		0.0		0.0		2,167.6		0.0		0.0		100,594.5		0.0		0.0		1,801.0		0.0		0.0		33,014.9		65,778.6		41,597.3
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
008690	WTU 0938 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
006020	WTU 1414 UT		7.3		0.0		0.0		5.9		0.0		0.0		278.8		0.0		0.0		4.8		0.0		0.0		20.8		253.2		142.7
006530	WTU 1415 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
008700	WTU 1470 UT		1		0		819.8		46.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		4.3		15.3
006760	WTU 1474 UT SI		0		0		39.8		8.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008600	WTU 1554 UT		1		0		107.9		9.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.0		3.5		15.3
008670	WTU 1595 UT		1		0		99.5		7.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		15.3
008710	WTU 1625 UT SI		0		0		39.8		5.7		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008630	WTU 1673 UT SI		0		0		25.1		4.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008230	WTU 1871 UT SI		0		0		80.6		6.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008730	WTU 1873 UT SI		0		0		91.2		6.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004220	WTU 1903 UT SI		0		0		90.4		4.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005240	WTU 1913 UT SI		0		0		151.0		4.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005350	WTU 2112 UT		0		0		45.4		2.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005200	WTU 2117 UT		1		0		107.1		4.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.6		15.3
004170	WTU 2127 UT		1		0		216.0		8.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.2		4.1		15.3
005270	WTU 2132 UT		1		0		223.3		11.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		3.7		15.3
004770	WTU 2137 UT		0		0		6.9		0.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004840	WTU 2142 UT		1		0		138.2		6.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.7		15.3
005790	WTU 2154 UT-J		1		0		184.6		8.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.7		3.9		15.3
004970	WTU 2157 UT		1		0		25.2		2.0		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		3.6		3.5		1.7
005780	WTU 2159 UT-HX		1		0		13.9		0.9		98.896		98.896		81.050		81.050		38.420		46.920		0.000		0.000		0.000		0.000		3.7		3.5		4.1
003310	WTU 2161 UT-J		1		0		260.3		14.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		4.0		15.3
004720	WTU 2167 UT		0		0		13.5		0.9		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005180	WTU 2195 UT		0		0		12.2		0.9		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005540	WTU 2197 UT		0		0		3.0		0.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005410	WTU 2204 UT		0		0		38.3		2.5		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004900	WTU 2209 UT		1		0		72.4		4.1		98.896		98.896		81.050		81.050		38.420		47.880		0.000		0.000		0.000		0.000		4.0		3.5		4.7
004360	WTU 2214 UT		0		0		10.7		1.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004300	WTU 2219 UT		0		0		6.3		0.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
008900	WTU 2222 UT-HX		1		0		113.2		5.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.7		15.3
009790	WTU 2223 UT-J		1		0		34.1		2.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		6.6
005190	WTU 2224 UT		1		0		143.9		5.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		3.7		15.3
005140	WTU 2229 UT		1		0		175.5		5.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		4.1		15.3
015360	WTU 2230 UT-J		1		0		286.7		13.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		8.1		4.3		15.3
015350	WTU 2240 UT-HX		1		0		332.0		14.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		9.3		4.6		15.3
003860	WTU 2251 UT		1		0		178.3		8.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.8		3.9		15.3
003910	WTU 2270 UT		0		0		2.1		0.2		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004740	WTU 2271 UT		0		0		21.3		1.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004960	WTU 2276 UT		1		0		82.1		4.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.5		9.6
005380	WTU 2281 UT		0		0		24.1		1.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005100	WTU 2286 UT		1		0		131.5		7.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.6		3.5		15.3
015340	WTU 2287 UT-HX		0		0		24.6		2.6		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014160	WTU 2288 UT-J		1		0		25.8		2.3		98.896		98.896		81.050		81.050		38.420		45.640		0.000		0.000		0.000		0.000		3.7		3.5		2.7
014150	WTU 2289 UT-J		1		0		70.4		5.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		7.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
008700	WTU 1470 UT		113.1		0.0		0.0		91.7		0.0		0.0		4,292.8		0.0		0.0		76.5		0.0		0.0		908.6		3,307.7		1,923.7
006760	WTU 1474 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008600	WTU 1554 UT		31.1		0.0		0.0		25.2		0.0		0.0		1,180.5		0.0		0.0		21.0		0.0		0.0		676.7		482.8		304.0
008670	WTU 1595 UT		34.1		0.0		0.0		27.6		0.0		0.0		1,290.3		0.0		0.0		23.1		0.0		0.0		685.2		582.0		372.6
008710	WTU 1625 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008630	WTU 1673 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008230	WTU 1871 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008730	WTU 1873 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004220	WTU 1903 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005240	WTU 1913 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005350	WTU 2112 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005200	WTU 2117 UT		46.2		0.0		0.0		37.5		0.0		0.0		1,746.6		0.0		0.0		31.2		0.0		0.0		719.3		996.1		629.1
004170	WTU 2127 UT		107.0		0.0		0.0		86.7		0.0		0.0		4,044.9		0.0		0.0		72.3		0.0		0.0		891.3		3,081.3		1,865.5
005270	WTU 2132 UT		80.5		0.0		0.0		65.2		0.0		0.0		3,013.1		0.0		0.0		54.1		0.0		0.0		816.3		2,142.7		1,415.6
004770	WTU 2137 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004840	WTU 2142 UT		53.5		0.0		0.0		43.4		0.0		0.0		2,022.3		0.0		0.0		36.4		0.0		0.0		740.3		1,245.6		777.8
005790	WTU 2154 UT-J		90.3		0.0		0.0		73.2		0.0		0.0		3,386.3		0.0		0.0		60.7		0.0		0.0		844.4		2,481.2		1,585.0
004970	WTU 2157 UT		2.3		0.0		0.0		1.9		0.0		0.0		79.1		0.0		0.0		1.5		0.0		0.0		74.3		3.3		3.2
005780	WTU 2159 UT-HX		5.7		0.0		0.0		4.6		0.0		0.0		201.9		0.0		0.0		3.6		0.0		0.0		173.8		24.5		21.5
003310	WTU 2161 UT-J		96.5		0.0		0.0		78.2		0.0		0.0		3,642.6		0.0		0.0		65.5		0.0		0.0		861.6		2,715.5		1,662.8
004720	WTU 2167 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005180	WTU 2195 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005540	WTU 2197 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005410	WTU 2204 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004900	WTU 2209 UT		9.2		0.0		0.0		7.5		0.0		0.0		326.3		0.0		0.0		5.9		0.0		0.0		209.5		110.9		96.8
004360	WTU 2214 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004300	WTU 2219 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
008900	WTU 2222 UT-HX		60.5		0.0		0.0		49.0		0.0		0.0		2,276.9		0.0		0.0		40.9		0.0		0.0		759.7		1,476.3		937.0
009790	WTU 2223 UT-J		13.0		0.0		0.0		10.5		0.0		0.0		469.9		0.0		0.0		8.6		0.0		0.0		291.0		170.3		142.9
005190	WTU 2224 UT		80.5		0.0		0.0		65.2		0.0		0.0		3,013.1		0.0		0.0		54.1		0.0		0.0		816.3		2,142.7		1,415.6
005140	WTU 2229 UT		104.8		0.0		0.0		85.0		0.0		0.0		3,970.4		0.0		0.0		71.2		0.0		0.0		885.2		3,014.0		1,790.5
015360	WTU 2230 UT-J		143.8		0.0		0.0		116.5		0.0		0.0		5,409.1		0.0		0.0		96.7		0.0		0.0		995.3		4,317.1		2,666.3
015350	WTU 2240 UT-HX		186.7		0.0		0.0		151.3		0.0		0.0		7,030.0		0.0		0.0		125.8		0.0		0.0		1,116.7		5,787.5		3,542.5
003860	WTU 2251 UT		85.9		0.0		0.0		69.6		0.0		0.0		3,238.9		0.0		0.0		58.1		0.0		0.0		831.8		2,349.0		1,460.3
003910	WTU 2270 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004740	WTU 2271 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004960	WTU 2276 UT		17.7		0.0		0.0		14.4		0.0		0.0		658.4		0.0		0.0		11.8		0.0		0.0		420.0		226.6		171.2
005380	WTU 2281 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005100	WTU 2286 UT		40.1		0.0		0.0		32.5		0.0		0.0		1,508.5		0.0		0.0		27.4		0.0		0.0		701.8		779.3		518.5
015340	WTU 2287 UT-HX		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014160	WTU 2288 UT-J		4.1		0.0		0.0		3.3		0.0		0.0		140.6		0.0		0.0		2.6		0.0		0.0		117.7		20.3		18.7
014150	WTU 2289 UT-J		15.8		0.0		0.0		12.8		0.0		0.0		572.0		0.0		0.0		10.4		0.0		0.0		334.2		227.4		188.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
003940	WTU 2291 UT		1		0		28.6		1.6		98.896		98.896		81.050		81.050		38.420		46.920		0.000		0.000		0.000		0.000		4.1		3.5		4.1
014060	WTU 2302 UT-J		0		0		3.6		0.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015300	WTU 2304 UT-HX		1		0		42.3		2.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		11.2
005460	WTU 2326 UT		1		0		112.5		7.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.5		11.5
004790	WTU 2332 UT		0		0		13.7		1.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
024280	WTU 2351 UT		0		0		0.4		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
004180	WTU 2358 UT		1		0		198.8		10.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.7		15.3
005660	WTU 2378 UT		1		0		113.9		6.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.4		3.5		14.6
004270	WTU 2383 UT		1		0		49.0		4.1		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		3.7		3.5		1.7
005050	WTU 2388 UT		1		0		59.5		4.9		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		4.0		3.5		2.0
004330	WTU 2393 UT		1		0		47.0		3.8		98.896		98.896		81.050		81.050		38.420		44.100		0.000		0.000		0.000		0.000		3.7		3.5		1.9
004380	WTU 2398 UT		1		0		99.8		5.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.5		15.3
004030	WTU 2407 UT		1		0		122.3		6.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.6		15.3
003920	WTU 2410 UT		1		0		77.3		3.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.6		15.3
004410	WTU 2413 UT SI		0		0		5.4		0.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005640	WTU 2557 UT SI		0		0		14.1		1.1		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001390	WTU UT SI		0		0		36,991.2		11,642.3		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	PROSPECT TOTAL		34		0		42,715.6		11,969.7
	TOTAL CALIFORNIA		106		0		143,883.1		55,263.9
	TOTAL ALL LEASES		106		0		143,883.1		55,263.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
003940	WTU 2291 UT		8.7		0.0		0.0		7.1		0.0		0.0		304.8		0.0		0.0		5.5		0.0		0.0		182.1		117.2		103.9
014060	WTU 2302 UT-J		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015300	WTU 2304 UT-HX		22.5		0.0		0.0		18.3		0.0		0.0		836.1		0.0		0.0		15.1		0.0		0.0		494.6		326.4		247.8
005460	WTU 2326 UT		36.2		0.0		0.0		29.3		0.0		0.0		1,339.0		0.0		0.0		24.1		0.0		0.0		546.2		768.7		571.9
004790	WTU 2332 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
024280	WTU 2351 UT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
004180	WTU 2358 UT		75.7		0.0		0.0		61.4		0.0		0.0		2,849.0		0.0		0.0		51.0		0.0		0.0		802.6		1,995.4		1,272.4
005660	WTU 2378 UT		37.2		0.0		0.0		30.1		0.0		0.0		1,396.9		0.0		0.0		25.2		0.0		0.0		668.0		703.7		481.3
004270	WTU 2383 UT		2.6		0.0		0.0		2.1		0.0		0.0		86.1		0.0		0.0		1.7		0.0		0.0		71.5		12.9		12.2
005050	WTU 2388 UT		4.1		0.0		0.0		3.3		0.0		0.0		138.0		0.0		0.0		2.5		0.0		0.0		88.9		46.6		44.1
004330	WTU 2393 UT		2.9		0.0		0.0		2.4		0.0		0.0		99.6		0.0		0.0		1.9		0.0		0.0		82.4		15.3		14.5
004380	WTU 2398 UT		35.9		0.0		0.0		29.1		0.0		0.0		1,352.3		0.0		0.0		24.2		0.0		0.0		690.4		637.7		434.0
004030	WTU 2407 UT		50.2		0.0		0.0		40.7		0.0		0.0		1,896.5		0.0		0.0		34.1		0.0		0.0		730.7		1,131.7		714.4
003920	WTU 2410 UT		36.6		0.0		0.0		29.7		0.0		0.0		1,394.0		0.0		0.0		24.7		0.0		0.0		692.2		677.1		403.1
004410	WTU 2413 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005640	WTU 2557 UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001390	WTU UT SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		1,742.5		0.0		0.0		1,412.3		0.0		0.0		65,485.6		0.0		0.0		1,174.2		0.0		0.0		19,941.4		44,370.0		27,951.6
	TOTAL CALIFORNIA		5,738.4		0.0		0.0		4,651.0		0.0		811.2		215,744.6		0.0		0.0		3,864.0		0.0		24,061.1		115,283.5		72,536.0		60,138.4
	TOTAL ALL LEASES		5,738.4		0.0		0.0		4,651.0		0.0		811.2		215,744.6		0.0		0.0		3,864.0		0.0		24,061.1		115,283.5		72,536.0		60,138.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		3.1		0.0		0.0		2.5		0.0		34.5		38.420		0.000		2.702		95.6		0.0		93.2		188.8
12-31-2017		48.9		0.0		0.0		39.6		0.0		82.8		42.420		0.000		2.702		1,679.8		0.0		223.7		1,903.5
12-31-2018		92.9		0.0		0.0		75.3		0.0		82.8		44.100		0.000		2.702		3,321.7		0.0		223.7		3,545.4
12-31-2019		129.6		0.0		0.0		105.0		0.0		82.8		45.640		0.000		2.702		4,792.3		0.0		223.7		5,016.0
12-31-2020		125.2		0.0		0.0		101.5		0.0		82.8		46.920		0.000		2.702		4,762.3		0.0		223.7		4,986.0
12-31-2021		110.5		0.0		0.0		89.5		0.0		82.8		47.880		0.000		2.702		4,286.4		0.0		223.7		4,510.1
12-31-2022		98.3		0.0		0.0		79.7		0.0		82.8		48.780		0.000		2.702		3,886.9		0.0		223.7		4,110.6
12-31-2023		87.3		0.0		0.0		70.7		0.0		82.8		48.780		0.000		2.702		3,450.1		0.0		223.7		3,673.8
12-31-2024		77.6		0.0		0.0		62.9		0.0		82.8		48.780		0.000		2.702		3,069.2		0.0		223.7		3,292.9
12-31-2025		70.3		0.0		0.0		57.0		0.0		82.8		48.780		0.000		2.702		2,779.3		0.0		223.7		3,003.0
12-31-2026		63.2		0.0		0.0		51.2		0.0		82.8		48.780		0.000		2.702		2,498.7		0.0		223.7		2,722.4
12-31-2027		55.5		0.0		0.0		45.0		0.0		82.8		48.780		0.000		2.702		2,196.1		0.0		223.7		2,419.8
12-31-2028		49.3		0.0		0.0		39.9		0.0		82.8		48.780		0.000		2.702		1,947.9		0.0		223.7		2,171.6
12-31-2029		44.6		0.0		0.0		36.1		0.0		82.8		48.780		0.000		2.702		1,761.8		0.0		223.7		1,985.5
12-31-2030		40.1		0.0		0.0		32.5		0.0		82.8		48.780		0.000		2.702		1,587.2		0.0		223.7		1,810.9
SUBTOTAL		1,096.3		0.0		0.0		888.6		0.0		1,193.5		47.397		0.000		2.702		42,115.3		0.0		3,225.0		45,340.3
REMAINING		156.6		0.0		0.0		126.9		0.0		600.2		48.780		0.000		2.702		6,191.1		0.0		1,621.9		7,813.0
TOTAL		1,252.9		0.0		0.0		1,015.5		0.0		1,793.7		47.570		0.000		2.702		48,306.4		0.0		4,846.9		53,153.3
CUM PROD		1,752.2				128.2
ULTIMATE		3,005.1				128.2

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		1		1.0		0.8		1.0		158.8		0.0		50.9		-22.7		-22.7		-21.3		8.000		16,452.6
12-31-2017		10		9.9		13.0		18.3		896.0		0.0		430.1		546.1		523.4		481.5		12.000		13,124.2
12-31-2018		20		19.8		24.4		36.3		1,422.8		0.0		918.0		1,143.9		1,667.3		1,432.6		15.000		11,264.5
12-31-2019		27		26.7		34.2		52.2		752.9		0.0		1,427.0		2,749.7		4,417.0		3,498.0		20.000		8,958.6
12-31-2020		27		26.7		33.2		51.9		0.0		0.0		1,482.1		3,418.8		7,835.8		5,856.0		25.000		7,311.6
12-31-2021		27		26.7		28.9		47.0		0.0		0.0		1,440.5		2,993.7		10,829.5		7,733.0		30.000		6,095.0
12-31-2022		27		26.7		25.9		42.5		0.0		0.0		1,406.1		2,636.1		13,465.6		9,235.7		35.000		5,167.6
12-31-2023		27		26.7		23.0		37.5		0.0		0.0		1,342.8		2,270.5		15,736.1		10,412.3		40.000		4,444.1
12-31-2024		26		25.7		20.4		33.6		0.0		0.0		1,273.8		1,965.1		17,701.2		11,337.9		45.000		3,867.8
12-31-2025		25		24.7		18.5		30.6		0.0		0.0		1,249.8		1,704.1		19,405.3		12,067.9		50.000		3,401.1
12-31-2026		25		24.7		16.3		27.3		0.0		0.0		1,203.6		1,475.2		20,880.5		12,641.8
12-31-2027		23		22.7		14.7		24.0		0.0		0.0		1,102.0		1,279.1		22,159.6		13,094.6
12-31-2028		21		20.8		13.2		21.2		0.0		0.0		1,022.9		1,114.3		23,273.9		13,453.3
12-31-2029		20		19.8		11.4		19.3		0.0		0.0		984.0		970.8		24,244.7		13,737.4
12-31-2030		20		19.8		10.5		17.1		0.0		0.0		942.5		840.8		25,085.5		13,961.0
SUBTOTAL						288.4		459.8		3,230.5		0.0		16,276.1		25,085.5		25,085.5		13,961.0
REMAINING						41.2		67.6		0.0		0.0		4,171.4		3,532.8		28,618.3		14,643.3
TOTAL OF 21.7 YRS						329.6		527.4		3,230.5		0.0		20,447.5		28,618.3		28,618.3		14,643.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
WTU FORD PROSPECT, LOS ANGELES COUNTY
013750	WTU 2131 FORD		1		0		60.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		17.7
013740	WTU 2138 FORD		1		0		21.6		1.2		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		6.6
013780	WTU 2220 FORD		1		0		60.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		17.4
	PROSPECT TOTAL		3		0		142.8		1.2
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
000474	WTU GAS SALES PDNP		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		2.702		2.702		7.2		7.2		21.7
	PROSPECT TOTAL		0		0		0.0		0.0
WTU RANGER PROSPECT, LOS ANGELES COUNTY
008640	WTU 1476 RGR		1		0		264.0		11.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		21.4
008610	WTU 1519 RGR		0		0		131.8		6.4		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013550	WTU 2236 RGR		1		0		211.1		6.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.9		21.7
004690	WTU 2368 RGR		1		0		51.5		2.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		13.9
	PROSPECT TOTAL		3		0		658.3		26.4
WTU TAR PROSPECT, LOS ANGELES COUNTY
005800	WTU 2158 TAR		1		0		78.3		5.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		14.7
005530	WTU 2165 TAR		1		0		144.4		7.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		20.4
005160	WTU 2169 TAR		1		0		95.2		3.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		20.3
014010	WTU 2231 TAR		1		0		45.8		3.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		10.1
005820	WTU 2237 TAR		1		0		85.8		4.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		17.7
013900	WTU 2278 TAR		1		0		76.6		5.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		15.9
004880	WTU 2370 TAR		1		0		90.7		3.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		19.1
	PROSPECT TOTAL		7		0		616.6		32.6
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
008650	WTU 1476 UT		0		0		132.9		10.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		0.2		21.4
008660	WTU 1519 UT		1		0		116.3		6.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		18.6
003890	WTU 1907 UT		1		0		318.2		7.6		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		21.7
004710	WTU 2122 UT		1		0		125.4		5.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		20.6
004050	WTU 2149 UT		1		0		64.6		2.8		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		11.0
004850	WTU 2152 UT		1		0		65.0		3.4		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		11.1
014140	WTU 2285 UTHX1		1		0		20.8		0.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		7.5
004110	WTU 2306 UT		1		0		92.1		2.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		19.8
005610	WTU 2311 UT		1		0		55.6		1.5		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		17.7
005250	WTU 2401 UT		1		0		65.3		3.9		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		12.1
005000	WTU 2515 UT		1		0		269.7		11.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		21.7
004660	WTU 2539 UT		1		0		51.0		1.7		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		10.1
005600	WTU 2553 UT		1		0		38.5		1.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		14.2
003930	WTU 2561 UT		1		0		108.5		6.1		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		18.3
005570	WTU 2593 UT		1		0		63.5		2.3		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		15.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT			OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST			EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$			M$		M$		M$
CALIFORNIA
WTU FORD PROSPECT, LOS ANGELES COUNTY
013750	WTU 2131 FORD		60.6		0.0		0.0		49.1		0.0		0.0		2,268.4		0.0		0.0		40.6		49.4		0.0			833.9		1,344.5		945.6
013740	WTU 2138 FORD		11.4		0.0		0.0		9.3		0.0		0.0		422.2		0.0		0.0		7.5		97.9		0.0			244.6		72.2		46.2
013780	WTU 2220 FORD		60.6		0.0		0.0		49.1		0.0		0.0		2,250.2		0.0		0.0		40.4		39.6		0.0			834.0		1,336.2		962.1
	PROSPECT TOTAL		132.6		0.0		0.0		107.5		0.0		0.0		4,940.8		0.0		0.0		88.5		186.9		0.0			1,912.5		2,752.9		1,953.9
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
000474	WTU GAS SALES PDNP		0.0		0.0		0.0		0.0		0.0		1,793.7		0.0		0.0		4,846.9		0.0		0.0		0.0			1,860.9		2,986.0		1,262.8
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		1,793.7		0.0		0.0		4,846.9		0.0		0.0		0.0			1,860.9		2,986.0		1,262.8
WTU RANGER PROSPECT, LOS ANGELES COUNTY
008640	WTU 1476 RGR		37.6		0.0		0.0		30.5		0.0		0.0		1,461.9		0.0		0.0		26.0		41.6		0.0			881.6		512.7		254.8
008610	WTU 1519 RGR		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0	��		0.0		0.0		0.0
013550	WTU 2236 RGR		149.9		0.0		0.0		121.5		0.0		0.0		5,869.8		0.0		0.0		103.6		128.4		0.0			1,147.5		4,490.3		1,990.1
004690	WTU 2368 RGR		21.0		0.0		0.0		17.0		0.0		0.0		818.3		0.0		0.0		14.2		123.0		0.0			497.0		184.1		82.9
	PROSPECT TOTAL		208.5		0.0		0.0		169.0		0.0		0.0		8,150.0		0.0		0.0		143.8		293.0		0.0			2,526.1		5,187.1		2,327.8
WTU TAR PROSPECT, LOS ANGELES COUNTY
005800	WTU 2158 TAR		24.1		0.0		0.0		19.5		0.0		0.0		937.7		0.0		0.0		16.7		119.2		0.0			528.0		273.8		135.8
005530	WTU 2165 TAR		53.9		0.0		0.0		43.7		0.0		0.0		2,075.8		0.0		0.0		36.9		121.9		0.0			895.4		1,021.6		552.7
005160	WTU 2169 TAR		49.7		0.0		0.0		40.3		0.0		0.0		1,924.4		0.0		0.0		34.1		110.5		0.0			864.2		915.6		475.8
014010	WTU 2231 TAR		18.3		0.0		0.0		14.9		0.0		0.0		704.9		0.0		0.0		12.5		113.3		0.0			357.3		221.8		127.5
005820	WTU 2237 TAR		37.8		0.0		0.0		30.7		0.0		0.0		1,466.6		0.0		0.0		26.1		125.1		0.0			714.8		600.6		314.0
013900	WTU 2278 TAR		30.3		0.0		0.0		24.6		0.0		0.0		1,174.4		0.0		0.0		20.7		116.4		0.0			619.7		417.6		219.6
004880	WTU 2370 TAR		42.6		0.0		0.0		34.5		0.0		0.0		1,651.2		0.0		0.0		29.4		112.1		0.0			786.3		723.4		371.4
	PROSPECT TOTAL		256.7		0.0		0.0		208.1		0.0		0.0		9,935.0		0.0		0.0		176.4		818.5		0.0			4,765.7		4,174.4		2,196.8
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
008650	WTU 1476 UT		30.1		0.0		0.0		24.4		0.0		0.0		1,169.5		0.0		0.0		20.7		41.6		0.0			85.1		1,022.1		439.6
008660	WTU 1519 UT		44.7		0.0		0.0		36.3		0.0		0.0		1,714.6		0.0		0.0		30.4		44.5		0.0			821.5		818.2		477.8
003890	WTU 1907 UT		94.4		0.0		0.0		76.5		0.0		0.0		3,646.0		0.0		0.0		64.6		128.0		0.0			1,061.4		2,392.0		1,202.1
004710	WTU 2122 UT		58.2		0.0		0.0		47.1		0.0		0.0		2,270.3		0.0		0.0		40.3		135.3		0.0			862.4		1,232.3		601.2
004050	WTU 2149 UT		30.3		0.0		0.0		24.6		0.0		0.0		1,134.4		0.0		0.0		20.5		119.2		0.0			494.2		500.5		337.7
004850	WTU 2152 UT		18.1		0.0		0.0		14.7		0.0		0.0		701.4		0.0		0.0		12.4		116.4		0.0			385.7		186.9		97.4
014140	WTU 2285 UTHX1		13.0		0.0		0.0		10.5		0.0		0.0		494.7		0.0		0.0		8.5		161.9		0.0			239.3		85.0		41.7
004110	WTU 2306 UT		51.2		0.0		0.0		41.5		0.0		0.0		1,971.5		0.0		0.0		35.1		232.1		0.0			862.2		842.1		423.8
005610	WTU 2311 UT		35.3		0.0		0.0		28.6		0.0		0.0		1,372.8		0.0		0.0		24.3		176.6		0.0			711.0		460.9		206.6
005250	WTU 2401 UT		23.0		0.0		0.0		18.6		0.0		0.0		892.6		0.0		0.0		16.2		116.4		0.0			422.0		338.0		183.6
005000	WTU 2515 UT		136.0		0.0		0.0		110.2		0.0		0.0		5,244.2		0.0		0.0		92.8		139.0		0.0			1,182.3		3,830.1		1,918.0
004660	WTU 2539 UT		27.4		0.0		0.0		22.2		0.0		0.0		1,040.9		0.0		0.0		18.6		139.9		0.0			405.8		476.6		306.2
005600	WTU 2553 UT		24.0		0.0		0.0		19.4		0.0		0.0		935.3		0.0		0.0		16.4		130.6		0.0			511.6		276.7		131.1
003930	WTU 2561 UT		39.6		0.0		0.0		32.1		0.0		0.0		1,541.7		0.0		0.0		27.1		118.7		0.0			726.1		669.8		330.1
005570	WTU 2593 UT		29.8		0.0		0.0		24.2		0.0		0.0		1,150.7		0.0		0.0		20.4		131.9		0.0			611.7		386.7		205.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

ACTIVE

GROSS ULTIMATE

WORKING

REVENUE

OIL

NGL

GAS

GROSS OPERATING

LEASE

COMPLTNS

OIL

GAS

INTEREST

INTEREST

$/BBL

$/BBL

$/MCF

EXPENSE M$/M

LIFE

NUMBER

LEASE NAME

OIL

GAS

MBBL

MMCF

START

END

START

END

START

END

START

END

START

END

START

END

YRS

CALIFORNIA (CONTINUED)

WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)

PROSPECT TOTAL

14

0

1,587.3

68.0

TOTAL CALIFORNIA

27

0

3,005.1

128.2

TOTAL ALL LEASES

27

0

3,005.1

128.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
	PROSPECT TOTAL		655.1		0.0		0.0		531.0		0.0		0.0		25,280.6		0.0		0.0		448.3		1,932.1		0.0		9,382.3		13,517.9		6,902.0
	TOTAL CALIFORNIA		1,252.9		0.0		0.0		1,015.5		0.0		1,793.7		48,306.4		0.0		4,846.9		857.0		3,230.5		0.0		20,447.5		28,618.3		14,643.3
	TOTAL ALL LEASES		1,252.9		0.0		0.0		1,015.5		0.0		1,793.7		48,306.4		0.0		4,846.9		857.0		3,230.5		0.0		20,447.5		28,618.3		14,643.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD ENDING M-D-Y	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		15.1		0.0		0.0		12.2		0.0		0.0		42.420		0.000		0.000		519.4		0.0		0.0		519.4
12-31-2018		103.3		0.0		0.0		83.7		0.0		0.0		44.100		0.000		0.000		3,691.7		0.0		0.0		3,691.7
12-31-2019		132.3		0.0		0.0		107.2		0.0		0.0		45.640		0.000		0.000		4,892.8		0.0		0.0		4,892.8
12-31-2020		414.4		0.0		0.0		335.9		0.0		0.0		46.920		0.000		0.000		15,760.2		0.0		0.0		15,760.2
12-31-2021		440.9		0.0		0.0		357.4		0.0		0.0		47.880		0.000		0.000		17,111.5		0.0		0.0		17,111.5
12-31-2022		377.0		0.0		0.0		305.6		0.0		0.0		48.780		0.000		0.000		14,906.6		0.0		0.0		14,906.6
12-31-2023		337.5		0.0		0.0		273.5		0.0		0.0		48.780		0.000		0.000		13,341.7		0.0		0.0		13,341.7
12-31-2024		305.6		0.0		0.0		247.7		0.0		0.0		48.780		0.000		0.000		12,082.3		0.0		0.0		12,082.3
12-31-2025		275.7		0.0		0.0		223.5		0.0		0.0		48.780		0.000		0.000		10,900.9		0.0		0.0		10,900.9
12-31-2026		249.2		0.0		0.0		201.9		0.0		0.0		48.780		0.000		0.000		9,850.9		0.0		0.0		9,850.9
12-31-2027		225.7		0.0		0.0		182.9		0.0		0.0		48.780		0.000		0.000		8,923.2		0.0		0.0		8,923.2
12-31-2028		204.8		0.0		0.0		166.0		0.0		0.0		48.780		0.000		0.000		8,096.2		0.0		0.0		8,096.2
12-31-2029		186.0		0.0		0.0		150.8		0.0		0.0		48.780		0.000		0.000		7,355.2		0.0		0.0		7,355.2
12-31-2030		169.2		0.0		0.0		137.1		0.0		0.0		48.780		0.000		0.000		6,688.8		0.0		0.0		6,688.8
SUBTOTAL		3,436.7		0.0		0.0		2,785.4		0.0		0.0		48.151		0.000		0.000		134,121.4		0.0		0.0		134,121.4
REMAINING		1,535.4		0.0		0.0		1,244.4		0.0		341.3		48.780		0.000		0.000		60,703.9		0.0		0.0		60,703.9
TOTAL		4,972.1		0.0		0.0		4,029.9		0.0		341.3		48.345		0.000		0.000		194,825.3		0.0		0.0		194,825.3
CUM PROD		0.0				0.0
ULTIMATE		4,972.1				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF				TAXES				CAPITAL COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
	ACTIVE COMPLETIONS				PRODUCTION M$		AD VALOREM M$								PERIOD M$		CUM M$		CUM M$		DISC RATE %		CUM PW M$
	GROSS		NET
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		13,074.4
12-31-2017		4		4.0		3.9		5.6		13,805.9		0.0		71.5		-13,367.5		-13,367.5		-12,428.9		12.000		2,460.3
12-31-2018		6		5.9		27.1		40.6		5,818.1		0.0		472.3		-2,666.4		-16,033.9		-14,550.6		15.000		-3,015.6
12-31-2019		14		13.8		34.5		53.4		30,458.4		0.0		660.2		-26,313.7		-42,347.6		-34,483.2		20.000		-8,969.7
12-31-2020		28		27.7		109.3		172.4		19,081.9		0.0		1,989.5		-5,592.9		-47,940.5		-38,487.0		25.000		-12,368.8
12-31-2021		28		27.7		115.1		186.5		0.0		0.0		2,327.8		14,482.1		-33,458.4		-29,404.6		30.000		-14,242.3
12-31-2022		28		27.7		99.5		163.2		0.0		0.0		2,147.1		12,496.8		-20,961.6		-22,283.5		35.000		-15,196.2
12-31-2023		28		27.7		88.5		145.9		0.0		0.0		2,035.2		11,072.1		-9,889.5		-16,549.0		40.000		-15,588.2
12-31-2024		28		27.7		80.6		132.1		0.0		0.0		1,945.1		9,924.5		35.0		-11,875.3		45.000		-15,636.8
12-31-2025		28		27.7		72.2		118.7		0.0		0.0		1,860.7		8,849.3		8,884.3		-8,087.0		50.000		-15,477.5
12-31-2026		28		27.7		65.6		107.6		0.0		0.0		1,785.7		7,892.0		16,776.3		-5,016.0
12-31-2027		28		27.7		59.2		97.5		0.0		0.0		1,719.3		7,047.2		23,823.5		-2,522.8
12-31-2028		28		27.7		53.6		88.3		0.0		0.0		1,660.1		6,294.2		30,117.7		-498.2
12-31-2029		28		27.7		49.0		80.0		0.0		0.0		1,607.0		5,619.2		35,736.9		1,144.6
12-31-2030		28		27.7		44.8		73.5		0.0		0.0		1,559.5		5,011.0		40,747.9		2,476.9
SUBTOTAL						902.9		1,465.3		69,164.3		0.0		21,841.0		40,747.9		40,747.9		2,476.9
REMAINING						403.8		662.9		0.0		3,634.4		44,876.6		11,126.2		51,874.1		7,214.8
TOTAL OF 22.7 YRS						1,306.7		2,128.2		69,164.3		3,634.4		66,717.6		51,874.1		51,874.1		7,214.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE					OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST					$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START			END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
WTU FORD PROSPECT, LOS ANGELES COUNTY
014890	WFR+2 15 PUP 1		1		0		89.3		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		21.7
015000	WFORD 12 PUI 1		0		0		139.4		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.7		21.7
313730	WTU 2136 FORD EXT		1		0		1.4		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.5		16.5
313770	WTU 2141 FORD EXT		1		0		6.6		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.5		20.3
313720	WTU 2150 FORD EXT		1		0		10.2		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.3		3.5		21.7
313760	WTU 2221 FORD EXT		1		0		4.4		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.5		18.7
	PROSPECT TOTAL		5		0		251.4		0.0
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
016620	FAC CAPEX PUD		0		0		0.0		0.0		98.896		98.896		81.050			81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		21.7
014430	FE WTU PUD		0		0		0.0		0.0		98.896		98.896		81.050			81.050		0.000		0.000		0.000		0.000		0.000		0.000		264.0		264.0		21.7
000322	WTU FUEL GAS PUD		0		0		0.0		0.0		100.000		100.000		100.000			100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		21.7
021400	ABAN WTU PUD G		0		0		0.0		0.0		98.896		98.896		81.050			81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		22.7
	PROSPECT TOTAL		0		0		0.0		0.0
WTU RANGER PROSPECT, LOS ANGELES COUNTY
013520	WRGR 12 PUI 09		0		0		123.4		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		21.7
023750	WRGR 12 PUI 10		0		0		123.2		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		21.7
023780	WRGR 12 PUI 11		0		0		123.2		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		21.7
023790	WRGR 12 PUI 12		0		0		123.0		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		21.7
013460	WRGR 14 PUI 13		0		0		119.1		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
014540	WRGR 14 PUI 14		0		0		119.1		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
014650	WRGR 14 PUI 15		0		0		118.9		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
013490	WRGR 14 PUI 16		0		0		118.9		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
014670	WRGR 14 PUI 17		0		0		118.7		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
014680	WRGR 14 PUI 18		0		0		118.7		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
014690	WRGR 14 PUI 19		0		0		118.5		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
022240	WRGR 14 PUI 20		0		0		118.5		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
023760	WRGR 14 PUI 21		0		0		118.3		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
023800	WRGR 14 PUI 22		0		0		118.3		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
022250	WRGR 14 PUI 23		0		0		118.1		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
023770	WRGR 14 PUI 24		0		0		118.1		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
022260	WRGR 14 PUI 25		0		0		117.9		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
023820	WRGR 14 PUI 26		0		0		117.9		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
023830	WRGR 14 PUI 27		0		0		117.7		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
023810	WRGR 14 PUI 28		0		0		117.7		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		21.7
013420	WRGR 12 PUP 01		1		0		37.6		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014700	WRGR 12 PUP 02		1		0		37.6		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014710	WRGR 12 PUP 03		1		0		37.6		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014720	WRGR 12 PUP 04		1		0		37.6		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014820	WRGR 14 PUP 14		1		0		36.4		0.0		98.896		98.896		81.050	��		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014830	WRGR 14 PUP 15		1		0		36.5		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014840	WRGR 14 PUP 16		1		0		36.4		0.0		98.896		98.896		81.050			81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
WTU FORD PROSPECT, LOS ANGELES COUNTY
014890	WFR+2 15 PUP 1		89.3		0.0		0.0		72.4		0.0		0.0		3,501.3		0.0		0.0		61.6		1,190.7		0.0		947.3		1,301.7		391.2
015000	WFORD 12 PUI 1		139.4		0.0		0.0		113.0		0.0		0.0		5,415.3		0.0		0.0		95.6		1,090.8		0.0		394.1		3,834.8		1,244.3
313730	WTU 2136 FORD EXT		1.4		0.0		0.0		1.1		0.0		0.0		56.0		0.0		0.0		1.0		0.0		0.0		52.2		2.8		0.6
313770	WTU 2141 FORD EXT		6.6		0.0		0.0		5.4		0.0		0.0		262.6		0.0		0.0		4.6		0.0		0.0		211.7		46.3		9.3
313720	WTU 2150 FORD EXT		10.2		0.0		0.0		8.3		0.0		0.0		405.0		0.0		0.0		7.1		0.0		0.0		276.6		121.3		23.0
313760	WTU 2221 FORD EXT		4.4		0.0		0.0		3.5		0.0		0.0		172.4		0.0		0.0		3.0		0.0		0.0		147.3		22.1		4.6
	PROSPECT TOTAL		251.4		0.0		0.0		203.8		0.0		0.0		9,812.6		0.0		0.0		172.9		2,281.5		0.0		2,029.2		5,329.0		1,673.0
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
016620	FAC CAPEX PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		1,681.2		0.0		0.0		-1,681.2		-1,609.4
014430	FE WTU PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		20,101.1		-20,101.1		-3,515.0
000322	WTU FUEL GAS PUD		0.0		0.0		0.0		0.0		0.0		341.3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021400	ABAN WTU PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		3,634.4		0.0		-3,634.4		1,638.4
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		341.3		0.0		0.0		0.0		0.0		1,681.2		3,634.4		20,101.1		-25,416.7		-3,486.0
WTU RANGER PROSPECT, LOS ANGELES COUNTY
013520	WRGR 12 PUI 09		123.4		0.0		0.0		100.0		0.0		0.0		4,775.1		0.0		0.0		84.7		1,265.9		0.0		348.8		3,075.7		921.6
023750	WRGR 12 PUI 10		123.2		0.0		0.0		99.9		0.0		0.0		4,772.5		0.0		0.0		84.4		1,265.9		0.0		348.3		3,073.9		916.4
023780	WRGR 12 PUI 11		123.2		0.0		0.0		99.9		0.0		0.0		4,772.5		0.0		0.0		84.4		1,265.9		0.0		348.3		3,073.9		916.4
023790	WRGR 12 PUI 12		123.0		0.0		0.0		99.7		0.0		0.0		4,769.5		0.0		0.0		84.5		1,265.9		0.0		348.1		3,071.0		911.2
013460	WRGR 14 PUI 13		119.1		0.0		0.0		96.5		0.0		0.0		4,678.3		0.0		0.0		82.3		1,265.9		0.0		336.9		2,993.2		795.0
014540	WRGR 14 PUI 14		119.1		0.0		0.0		96.5		0.0		0.0		4,678.3		0.0		0.0		82.3		1,265.9		0.0		336.9		2,993.2		795.0
014650	WRGR 14 PUI 15		118.9		0.0		0.0		96.4		0.0		0.0		4,672.5		0.0		0.0		82.5		1,265.9		0.0		336.2		2,987.9		789.3
013490	WRGR 14 PUI 16		118.9		0.0		0.0		96.4		0.0		0.0		4,672.5		0.0		0.0		82.5		1,265.9		0.0		336.2		2,987.9		789.3
014670	WRGR 14 PUI 17		118.7		0.0		0.0		96.2		0.0		0.0		4,666.4		0.0		0.0		82.1		1,265.9		0.0		335.6		2,982.8		783.3
014680	WRGR 14 PUI 18		118.7		0.0		0.0		96.2		0.0		0.0		4,666.4		0.0		0.0		82.1		1,265.9		0.0		335.6		2,982.8		783.3
014690	WRGR 14 PUI 19		118.5		0.0		0.0		96.0		0.0		0.0		4,659.9		0.0		0.0		82.0		1,265.9		0.0		335.3		2,976.7		777.3
022240	WRGR 14 PUI 20		118.5		0.0		0.0		96.0		0.0		0.0		4,659.9		0.0		0.0		82.0		1,265.9		0.0		335.3		2,976.7		777.3
023760	WRGR 14 PUI 21		118.3		0.0		0.0		95.9		0.0		0.0		4,653.4		0.0		0.0		82.1		1,265.9		0.0		334.6		2,970.8		771.1
023800	WRGR 14 PUI 22		118.3		0.0		0.0		95.9		0.0		0.0		4,653.4		0.0		0.0		82.1		1,265.9		0.0		334.6		2,970.8		771.1
022250	WRGR 14 PUI 23		118.1		0.0		0.0		95.7		0.0		0.0		4,646.4		0.0		0.0		81.5		1,265.9		0.0		334.2		2,964.8		765.0
023770	WRGR 14 PUI 24		118.1		0.0		0.0		95.7		0.0		0.0		4,646.4		0.0		0.0		81.5		1,265.9		0.0		334.2		2,964.8		765.0
022260	WRGR 14 PUI 25		117.9		0.0		0.0		95.5		0.0		0.0		4,639.7		0.0		0.0		81.6		1,265.9		0.0		333.3		2,958.9		759.0
023820	WRGR 14 PUI 26		117.9		0.0		0.0		95.5		0.0		0.0		4,639.7		0.0		0.0		81.6		1,265.9		0.0		333.3		2,958.9		759.0
023830	WRGR 14 PUI 27		117.7		0.0		0.0		95.4		0.0		0.0		4,632.6		0.0		0.0		81.6		1,265.9		0.0		332.7		2,952.4		752.8
023810	WRGR 14 PUI 28		117.7		0.0		0.0		95.4		0.0		0.0		4,632.6		0.0		0.0		81.6		1,265.9		0.0		332.7		2,952.4		752.8
013420	WRGR 12 PUP 01		37.6		0.0		0.0		30.4		0.0		0.0		1,432.9		0.0		0.0		25.7		1,288.6		0.0		891.0		-772.4		-729.3
014700	WRGR 12 PUP 02		37.6		0.0		0.0		30.5		0.0		0.0		1,431.1		0.0		0.0		25.7		1,288.6		0.0		897.7		-780.9		-745.8
014710	WRGR 12 PUP 03		37.6		0.0		0.0		30.5		0.0		0.0		1,431.1		0.0		0.0		25.7		1,288.6		0.0		897.7		-780.9		-745.8
014720	WRGR 12 PUP 04		37.6		0.0		0.0		30.5		0.0		0.0		1,432.1		0.0		0.0		25.3		1,288.6		0.0		894.2		-776.0		-737.6
014820	WRGR 14 PUP 14		36.4		0.0		0.0		29.5		0.0		0.0		1,422.6		0.0		0.0		25.3		1,288.6		0.0		810.6		-701.9		-576.5
014830	WRGR 14 PUP 15		36.5		0.0		0.0		29.6		0.0		0.0		1,422.8		0.0		0.0		25.0		1,288.6		0.0		813.8		-704.6		-582.4
014840	WRGR 14 PUP 16		36.4		0.0		0.0		29.5		0.0		0.0		1,422.6		0.0		0.0		25.3		1,288.6		0.0		810.6		-701.9		-576.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL					NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL					$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START			END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
014850	WRGR 14 PUP 17		1		0		36.4		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014860	WRGR 14 PUP 18		1		0		36.5		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014870	WRGR 14 PUP 19		1		0		36.5		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014880	WRGR 14 PUP 20		1		0		36.6		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
013390	WRGR 14 PUP 21		1		0		36.5		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
013400	WRGR 14 PUP 22		1		0		36.0		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
013410	WRGR 14 PUP 23		1		0		36.1		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
014420	WRGR 14 PUP 24		1		0		36.1		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
013580	WRGR 14 PUP 25		1		0		36.1		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
013590	WRGR 14 PUP 26		1		0		36.1		0.0		98.896		98.896		81.050		81.050		38.420	��		48.780		0.000		0.000		0.000		0.000		3.3		3.4		21.7
307420	WTU 1414 RGR EXT		1		0		4.9		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.9		3.5		19.3
308720	WTU 1554 RGR EXT		0		0		2.2		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		0.5		0.2		17.4
308740	WTU 1595 RGR EXT		0		0		1.8		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		0.5		0.2		17.1
313350	WTU 2155 RGR EXT		1		0		3.5		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		4.7		3.5		18.1
323560	WTU 2156 RGR EXT		1		0		14.5		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		6.4		3.7		21.7
314480	WTU 2213 RGR EXT		1		0		12.8		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		5.9		3.6		21.7
313600	WTU 2215 RGR EXT		1		0		5.8		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		4.9		3.5		19.6
313380	WTU 2216 RGR EXT		1		0		7.6		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		5.0		3.5		20.7
314370	WTU 2218 RGR EXT		1		0		9.9		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		5.3		3.5		21.7
309800	WTU 2226 RGR EXT		1		0		10.0		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		6.4		3.5		21.6
314380	WTU 2228 RGR EXT		1		0		10.2		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		5.4		3.5		21.7
313430	WTU 2233 RGR EXT		1		0		16.3		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		6.6		3.7		21.7
313570	WTU 2243 RGR EXT		1		0		13.4		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		6.0		3.6		21.7
315230	WTU 2275 RGR EXT		1		0		14.7		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		6.3		3.6		21.7
304320	WTU 2371 RGR EXT		1		0		12.1		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		4.9		3.6		21.7
	PROSPECT TOTAL		30		0		3,149.4		0.0
WTU TAR PROSPECT, LOS ANGELES COUNTY
022080	WTAR 13 PUP 1		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.5		20.4
022700	WTAR 13 PUP 2		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.5		20.4
019980	WTR3 14 PUP 1		1		0		23.8		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.3		21.7
019981	WTR3 15 PUP 2		1		0		23.8		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.3		21.7
019982	WTR3 15 PUP 3		1		0		23.8		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.3		21.7
019983	WTR3 15 PUP 4		1		0		23.9		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.3		21.7
019984	WTR3 15 PUP 5		1		0		23.9		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		3.3		3.3		21.7
023621	WTR3 15 PUI 1		0		0		158.9		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		0.0		0.8		21.7
023622	WTR3 15 PUI 2		0		0		158.9		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		0.0		0.8		21.7
023623	WTR3 15 PUI 3		0		0		158.6		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		0.0		0.8		21.7
022090	WTARU 15 PUP 1		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000			0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
022060	WTARU 15 PUP 2		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000			0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
019450	WTARU 15 PUP 3		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000			0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
303010	WTU 2113 TARDU EXT		1		0		9.6		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		5.2		3.5		21.7
312940	WTU 2135 TARD3 EXT		1		0		13.3		0.0		98.896		98.896		81.050		81.050		38.420			48.780		0.000		0.000		0.000		0.000		6.6		3.6		21.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
014850	WRGR 14 PUP 17		36.4		0.0		0.0		29.5		0.0		0.0		1,422.6		0.0		0.0		25.3		1,288.6		0.0		810.6		-701.9		-576.5
014860	WRGR 14 PUP 18		36.5		0.0		0.0		29.6		0.0		0.0		1,423.3		0.0		0.0		25.2		1,288.6		0.0		817.3		-707.8		-588.3
014870	WRGR 14 PUP 19		36.5		0.0		0.0		29.6		0.0		0.0		1,422.8		0.0		0.0		25.0		1,288.6		0.0		813.8		-704.6		-582.4
014880	WRGR 14 PUP 20		36.6		0.0		0.0		29.7		0.0		0.0		1,424.2		0.0		0.0		25.1		1,288.6		0.0		820.7		-710.2		-594.0
013390	WRGR 14 PUP 21		36.5		0.0		0.0		29.6		0.0		0.0		1,423.3		0.0		0.0		25.2		1,288.6		0.0		817.3		-707.8		-588.3
013400	WRGR 14 PUP 22		36.0		0.0		0.0		29.2		0.0		0.0		1,412.1		0.0		0.0		24.7		1,288.6		0.0		783.8		-685.0		-535.8
013410	WRGR 14 PUP 23		36.1		0.0		0.0		29.3		0.0		0.0		1,414.7		0.0		0.0		25.0		1,288.6		0.0		790.4		-689.3		-545.8
014420	WRGR 14 PUP 24		36.1		0.0		0.0		29.2		0.0		0.0		1,413.5		0.0		0.0		25.0		1,288.6		0.0		787.0		-687.1		-540.7
013580	WRGR 14 PUP 25		36.1		0.0		0.0		29.2		0.0		0.0		1,413.5		0.0		0.0		25.0		1,288.6		0.0		787.0		-687.1		-540.7
013590	WRGR 14 PUP 26		36.1		0.0		0.0		29.3		0.0		0.0		1,414.7		0.0		0.0		25.0		1,288.6		0.0		790.4		-689.3		-545.8
307420	WTU 1414 RGR EXT		4.9		0.0		0.0		3.9		0.0		0.0		192.3		0.0		0.0		3.4		0.0		0.0		171.3		17.6		3.6
308720	WTU 1554 RGR EXT		2.2		0.0		0.0		1.8		0.0		0.0		85.6		0.0		0.0		1.5		0.0		0.0		6.1		78.0		16.5
308740	WTU 1595 RGR EXT		1.8		0.0		0.0		1.4		0.0		0.0		69.4		0.0		0.0		1.3		0.0		0.0		5.0		63.1		13.6
313350	WTU 2155 RGR EXT		3.5		0.0		0.0		2.8		0.0		0.0		138.0		0.0		0.0		2.4		0.0		0.0		119.2		16.4		3.5
323560	WTU 2156 RGR EXT		14.5		0.0		0.0		11.8		0.0		0.0		574.1		0.0		0.0		10.1		0.0		0.0		288.7		275.3		50.6
314480	WTU 2213 RGR EXT		12.8		0.0		0.0		10.4		0.0		0.0		505.1		0.0		0.0		8.9		0.0		0.0		283.7		212.5		39.6
313600	WTU 2215 RGR EXT		5.8		0.0		0.0		4.7		0.0		0.0		227.6		0.0		0.0		4.0		0.0		0.0		183.5		40.1		8.2
313380	WTU 2216 RGR EXT		7.6		0.0		0.0		6.1		0.0		0.0		299.5		0.0		0.0		5.3		0.0		0.0		230.4		63.8		12.7
314370	WTU 2218 RGR EXT		9.9		0.0		0.0		8.0		0.0		0.0		391.4		0.0		0.0		6.9		0.0		0.0		275.6		108.9		21.0
309800	WTU 2226 RGR EXT		10.0		0.0		0.0		8.1		0.0		0.0		395.2		0.0		0.0		6.9		0.0		0.0		272.6		115.7		22.6
314380	WTU 2228 RGR EXT		10.2		0.0		0.0		8.3		0.0		0.0		404.1		0.0		0.0		7.1		0.0		0.0		276.5		120.5		23.0
313430	WTU 2233 RGR EXT		16.3		0.0		0.0		13.2		0.0		0.0		644.0		0.0		0.0		11.3		0.0		0.0		293.7		339.0		62.4
313570	WTU 2243 RGR EXT		13.4		0.0		0.0		10.9		0.0		0.0		530.3		0.0		0.0		9.3		0.0		0.0		285.5		235.5		43.8
315230	WTU 2275 RGR EXT		14.7		0.0		0.0		11.9		0.0		0.0		580.8		0.0		0.0		10.2		0.0		0.0		289.2		281.4		52.1
304320	WTU 2371 RGR EXT		12.1		0.0		0.0		9.8		0.0		0.0		478.6		0.0		0.0		8.4		0.0		0.0		281.8		188.4		34.7
	PROSPECT TOTAL		3,149.4		0.0		0.0		2,552.6		0.0		0.0		123,283.9		0.0		0.0		2,174.9		47,224.2		0.0		24,047.8		49,837.0		6,126.9
WTU TAR PROSPECT, LOS ANGELES COUNTY
022080	WTAR 13 PUP 1		76.0		0.0		0.0		61.6		0.0		0.0		2,908.9		0.0		0.0		51.7		1,235.2		0.0		922.8		699.2		203.8
022700	WTAR 13 PUP 2		76.0		0.0		0.0		61.6		0.0		0.0		2,908.9		0.0		0.0		51.7		1,235.2		0.0		922.8		699.2		203.8
019980	WTR3 14 PUP 1		23.8		0.0		0.0		19.3		0.0		0.0		932.9		0.0		0.0		16.4		1,235.2		0.0		736.3		-1,055.0		-624.4
019981	WTR3 15 PUP 2		23.8		0.0		0.0		19.3		0.0		0.0		933.0		0.0		0.0		16.5		1,235.2		0.0		742.9		-1,061.6		-636.1
019982	WTR3 15 PUP 3		23.8		0.0		0.0		19.3		0.0		0.0		932.9		0.0		0.0		16.4		1,235.2		0.0		739.4		-1,058.1		-630.3
019983	WTR3 15 PUP 4		23.9		0.0		0.0		19.4		0.0		0.0		933.3		0.0		0.0		16.7		1,235.2		0.0		749.4		-1,068.0		-648.2
019984	WTR3 15 PUP 5		23.9		0.0		0.0		19.3		0.0		0.0		933.0		0.0		0.0		16.4		1,235.2		0.0		746.3		-1,064.9		-642.3
023621	WTR3 15 PUI 1		158.9		0.0		0.0		128.8		0.0		0.0		6,266.4		0.0		0.0		110.2		1,213.5		0.0		449.4		4,493.3		1,344.5
023622	WTR3 15 PUI 2		158.9		0.0		0.0		128.8		0.0		0.0		6,266.4		0.0		0.0		110.2		1,213.5		0.0		449.4		4,493.3		1,344.5
023623	WTR3 15 PUI 3		158.6		0.0		0.0		128.5		0.0		0.0		6,256.9		0.0		0.0		109.9		1,213.5		0.0		448.5		4,485.0		1,333.6
022090	WTARU 15 PUP 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
022060	WTARU 15 PUP 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019450	WTARU 15 PUP 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
303010	WTU 2113 TARDU EXT		9.6		0.0		0.0		7.8		0.0		0.0		378.8		0.0		0.0		6.6		0.0		0.0		274.7		97.5		18.9
312940	WTU 2135 TARD3 EXT		13.3		0.0		0.0		10.8		0.0		0.0		525.4		0.0		0.0		9.2		0.0		0.0		285.2		231.0		42.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
323580	WTU 2146 TARDU EXT		1		0		19.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		9.2		3.8		21.7
304250	WTU 2160 TAR EXT		1		0		12.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.8		3.6		21.7
303980	WTU 2166 TAR EXT		1		0		13.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.6		21.7
304080	WTU 2168 TAR EXT		1		0		9.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.5		21.7
305520	WTU 2171 TAR EXT		1		0		11.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.6		21.7
313890	WTU 2232 TAR EXT		1		0		14.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.7		21.7
308860	WTU 2238 TAR EXT		1		0		12.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.6		21.7
304340	WTU 2239 TAR EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.5		16.5
313920	WTU 2241 TAR EXT		1		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.5		19.7
305370	WTU 2249 TAR EXT		1		0		19.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.5		3.8		21.7
304190	WTU 2250 TAR EXT		1		0		0.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		15.9
305300	WTU 2369 TAR EXT		1		0		4.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.5		18.7
305120	WTU 2498 TAR EXT		1		0		25.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		4.1		21.7
305210	WTU 2507 TAR EXT		1		0		28.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		7.3		4.1		21.7
304800	WTU 2511 TAR EXT		1		0		9.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.5		21.7
304200	WTU 2547 TAR EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.5		15.1
304820	WTU 2551 TAR EXT		1		0		13.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.6		21.7
305630	WTU 2569 TAR EXT		1		0		12.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.6		21.7
304130	WTU 2573 TAR EXT		1		0		15.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.7		21.7
305020	WTU 2577 TAR EXT		1		0		15.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.7		21.7
304260	WTU 2581 TAR EXT		1		0		19.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.7		3.8		21.7
304520	WTU 2585 TAR EXT		1		0		11.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.6		21.7
305320	WTU 2589 TAR EXT		1		0		6.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.5		20.1
303880	WTU 2597 TAR EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.3		3.5		16.5
303960	WTU 2605 TAR EXT		1		0		3.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.5		17.7
	PROSPECT TOTAL		33		0		1,059.6		0.0
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
306020	WTU 1414 UT EXT		0		0		1.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.2		0.1		19.3
308700	WTU 1470 UT EXT		1		0		23.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		4.0		21.7
308600	WTU 1554 UT EXT		1		0		2.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.0		3.5		17.4
308670	WTU 1595 UT EXT		1		0		2.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		17.1
305200	WTU 2117 UT EXT		1		0		5.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.5		19.3
304170	WTU 2127 UT EXT		1		0		17.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.2		3.7		21.7
305270	WTU 2132 UT EXT		1		0		5.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		3.5		18.9
304840	WTU 2142 UT EXT		1		0		8.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.5		21.1
305790	WTU 2154 UT-J EXT		1		0		13.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.7		3.6		21.7
303310	WTU 2161 UT-J EXT		1		0		15.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		3.7		21.7
308900	WTU 2222 UT-HX EXT		1		0		9.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.5		21.7
305190	WTU 2224 UT EXT		1		0		5.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		3.5		18.9
305140	WTU 2229 UT EXT		1		0		19.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.8		21.7
315360	WTU 2230 UT-J EXT		1		0		22.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		8.1		3.9		21.7
315350	WTU 2240 UT-HX EXT		1		0		28.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		9.3		4.1		21.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
323580	WTU 2146 TARDU EXT		19.1		0.0		0.0		15.5		0.0		0.0		753.8		0.0		0.0		13.2		0.0		0.0		301.5		439.1		80.0
304250	WTU 2160 TAR EXT		12.9		0.0		0.0		10.5		0.0		0.0		511.0		0.0		0.0		9.0		0.0		0.0		284.2		217.8		40.3
303980	WTU 2166 TAR EXT		13.8		0.0		0.0		11.2		0.0		0.0		544.6		0.0		0.0		9.6		0.0		0.0		286.6		248.4		45.8
304080	WTU 2168 TAR EXT		9.6		0.0		0.0		7.8		0.0		0.0		380.0		0.0		0.0		6.7		0.0		0.0		274.8		98.5		18.9
305520	WTU 2171 TAR EXT		11.4		0.0		0.0		9.3		0.0		0.0		451.6		0.0		0.0		7.9		0.0		0.0		279.9		163.8		30.6
313890	WTU 2232 TAR EXT		14.6		0.0		0.0		11.8		0.0		0.0		577.9		0.0		0.0		10.1		0.0		0.0		288.9		278.9		51.2
308860	WTU 2238 TAR EXT		12.5		0.0		0.0		10.2		0.0		0.0		495.8		0.0		0.0		8.7		0.0		0.0		283.1		204.0		37.8
304340	WTU 2239 TAR EXT		1.4		0.0		0.0		1.2		0.0		0.0		56.3		0.0		0.0		1.0		0.0		0.0		52.2		3.1		0.7
313920	WTU 2241 TAR EXT		5.7		0.0		0.0		4.6		0.0		0.0		225.4		0.0		0.0		4.0		0.0		0.0		186.5		34.9		7.2
305370	WTU 2249 TAR EXT		19.2		0.0		0.0		15.5		0.0		0.0		757.6		0.0		0.0		13.3		0.0		0.0		301.8		442.5		80.7
304190	WTU 2250 TAR EXT		0.7		0.0		0.0		0.6		0.0		0.0		28.9		0.0		0.0		0.5		0.0		0.0		27.8		0.6		0.1
305300	WTU 2369 TAR EXT		4.2		0.0		0.0		3.4		0.0		0.0		167.2		0.0		0.0		2.9		0.0		0.0		143.8		20.5		4.3
305120	WTU 2498 TAR EXT		25.6		0.0		0.0		20.7		0.0		0.0		1,011.5		0.0		0.0		17.8		0.0		0.0		320.0		673.7		119.8
305210	WTU 2507 TAR EXT		28.9		0.0		0.0		23.4		0.0		0.0		1,143.2		0.0		0.0		20.1		0.0		0.0		329.4		793.7		143.1
304800	WTU 2511 TAR EXT		9.9		0.0		0.0		8.0		0.0		0.0		390.0		0.0		0.0		6.9		0.0		0.0		275.5		107.6		20.5
304200	WTU 2547 TAR EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
304820	WTU 2551 TAR EXT		13.0		0.0		0.0		10.5		0.0		0.0		513.6		0.0		0.0		9.0		0.0		0.0		284.3		220.3		40.7
305630	WTU 2569 TAR EXT		12.7		0.0		0.0		10.3		0.0		0.0		500.8		0.0		0.0		8.8		0.0		0.0		283.4		208.6		38.6
304130	WTU 2573 TAR EXT		15.6		0.0		0.0		12.7		0.0		0.0		617.4		0.0		0.0		10.8		0.0		0.0		291.8		314.8		57.7
305020	WTU 2577 TAR EXT		15.7		0.0		0.0		12.7		0.0		0.0		621.0		0.0		0.0		10.9		0.0		0.0		292.0		318.1		58.3
304260	WTU 2581 TAR EXT		19.9		0.0		0.0		16.1		0.0		0.0		787.1		0.0		0.0		13.8		0.0		0.0		303.9		469.4		85.5
304520	WTU 2585 TAR EXT		11.5		0.0		0.0		9.4		0.0		0.0		456.1		0.0		0.0		8.0		0.0		0.0		280.2		167.9		31.6
305320	WTU 2589 TAR EXT		6.7		0.0		0.0		5.5		0.0		0.0		266.4		0.0		0.0		4.7		0.0		0.0		205.6		56.1		11.4
303880	WTU 2597 TAR EXT		1.4		0.0		0.0		1.1		0.0		0.0		55.6		0.0		0.0		1.0		0.0		0.0		52.2		2.4		0.5
303960	WTU 2605 TAR EXT		3.1		0.0		0.0		2.5		0.0		0.0		120.8		0.0		0.0		2.1		0.0		0.0		105.1		13.6		2.9
	PROSPECT TOTAL		1,059.6		0.0		0.0		858.8		0.0		0.0		41,610.4		0.0		0.0		732.7		12,286.9		0.0		13,201.6		15,389.2		2,318.7
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
306020	WTU 1414 UT EXT		1.2		0.0		0.0		0.9		0.0		0.0		46.2		0.0		0.0		0.8		0.0		0.0		3.3		42.1		8.2
308700	WTU 1470 UT EXT		23.6		0.0		0.0		19.1		0.0		0.0		933.6		0.0		0.0		16.4		0.0		0.0		314.4		602.8		108.4
308600	WTU 1554 UT EXT		2.5		0.0		0.0		2.0		0.0		0.0		98.3		0.0		0.0		1.8		0.0		0.0		90.6		5.9		1.3
308670	WTU 1595 UT EXT		2.1		0.0		0.0		1.7		0.0		0.0		82.9		0.0		0.0		1.5		0.0		0.0		76.6		4.8		1.1
305200	WTU 2117 UT EXT		5.2		0.0		0.0		4.2		0.0		0.0		205.4		0.0		0.0		3.6		0.0		0.0		172.2		29.6		6.1
304170	WTU 2127 UT EXT		17.3		0.0		0.0		14.0		0.0		0.0		683.1		0.0		0.0		12.0		0.0		0.0		296.5		374.6		68.5
305270	WTU 2132 UT EXT		5.0		0.0		0.0		4.1		0.0		0.0		197.6		0.0		0.0		3.5		0.0		0.0		155.6		38.5		8.1
304840	WTU 2142 UT EXT		8.0		0.0		0.0		6.5		0.0		0.0		317.5		0.0		0.0		5.6		0.0		0.0		247.8		64.1		12.7
305790	WTU 2154 UT-J EXT		13.1		0.0		0.0		10.7		0.0		0.0		519.8		0.0		0.0		9.2		0.0		0.0		284.8		225.8		41.8
303310	WTU 2161 UT-J EXT		15.3		0.0		0.0		12.4		0.0		0.0		606.7		0.0		0.0		10.6		0.0		0.0		291.0		305.1		56.0
308900	WTU 2222 UT-HX EXT		9.4		0.0		0.0		7.6		0.0		0.0		369.8		0.0		0.0		6.5		0.0		0.0		274.1		89.2		17.2
305190	WTU 2224 UT EXT		5.0		0.0		0.0		4.1		0.0		0.0		197.6		0.0		0.0		3.5		0.0		0.0		155.6		38.5		8.1
305140	WTU 2229 UT EXT		19.3		0.0		0.0		15.6		0.0		0.0		762.1		0.0		0.0		13.4		0.0		0.0		302.1		446.6		81.0
315360	WTU 2230 UT-J EXT		22.0		0.0		0.0		17.8		0.0		0.0		868.2		0.0		0.0		15.3		0.0		0.0		309.7		543.2		98.7
315350	WTU 2240 UT-HX EXT		28.8		0.0		0.0		23.3		0.0		0.0		1,137.9		0.0		0.0		20.0		0.0		0.0		329.0		788.9		142.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
303860	WTU 2251 UT EXT		1		0		12.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.8		3.6		21.7
305100	WTU 2286 UT EXT		1		0		2.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.6		3.5		17.0
304180	WTU 2358 UT EXT		1		0		8.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.5		21.2
304380	WTU 2398 UT EXT		1		0		0.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.5		3.5		15.6
304030	WTU 2407 UT EXT		1		0		6.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.5		20.2
303920	WTU 2410 UT EXT		1		0		8.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.1		3.5		21.7
015310	WUTH 14 PUP 1		1		0		98.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		21.7
015320	WUTH 14 PUP 2		1		0		98.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		21.7
015330	WUTH 14 PUP 3		1		0		98.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		21.7
019470	CTI CAPEX		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		21.7
	PROSPECT TOTAL		23		0		511.6		0.0
	TOTAL CALIFORNIA		91		0		4,972.1		0.0
	TOTAL ALL LEASES		91		0		4,972.1		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
303860	WTU 2251 UT EXT		12.1		0.0		0.0		9.8		0.0		0.0		479.8		0.0		0.0		8.4		0.0		0.0		281.9		189.5		35.5
305100	WTU 2286 UT EXT		2.0		0.0		0.0		1.6		0.0		0.0		79.6		0.0		0.0		1.4		0.0		0.0		73.2		5.0		1.1
304180	WTU 2358 UT EXT		8.8		0.0		0.0		7.1		0.0		0.0		348.4		0.0		0.0		6.1		0.0		0.0		253.2		89.1		17.6
304380	WTU 2398 UT EXT		0.4		0.0		0.0		0.3		0.0		0.0		14.4		0.0		0.0		0.3		0.0		0.0		13.9		0.2		0.1
304030	WTU 2407 UT EXT		6.5		0.0		0.0		5.3		0.0		0.0		257.7		0.0		0.0		4.5		0.0		0.0		208.1		45.1		9.1
303920	WTU 2410 UT EXT		8.7		0.0		0.0		7.0		0.0		0.0		342.5		0.0		0.0		6.0		0.0		0.0		272.1		64.4		12.2
015310	WUTH 14 PUP 1		98.6		0.0		0.0		79.9		0.0		0.0		3,859.1		0.0		0.0		68.0		1,352.9		0.0		979.8		1,458.4		428.3
015320	WUTH 14 PUP 2		98.4		0.0		0.0		79.8		0.0		0.0		3,855.1		0.0		0.0		68.0		1,352.9		0.0		976.2		1,458.0		425.6
015330	WUTH 14 PUP 3		98.4		0.0		0.0		79.8		0.0		0.0		3,855.1		0.0		0.0		68.0		1,352.9		0.0		976.2		1,458.0		425.6
019470	CTI CAPEX		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		1,631.8		0.0		0.0		-1,631.8		-1,433.0
	PROSPECT TOTAL		511.6		0.0		0.0		414.7		0.0		0.0		20,118.4		0.0		0.0		354.4		5,690.5		0.0		7,337.9		6,735.6		582.2
	TOTAL CALIFORNIA		4,972.1		0.0		0.0		4,029.9		0.0		341.3		194,825.3		0.0		0.0		3,434.9		69,164.3		3,634.4		66,717.6		51,874.1		7,214.8
	TOTAL ALL LEASES		4,972.1		0.0		0.0		4,029.9		0.0		341.3		194,825.3		0.0		0.0		3,434.9		69,164.3		3,634.4		66,717.6		51,874.1		7,214.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2019		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2020		4.0		0.0		0.0		3.2		0.0		0.0		46.920		0.000		0.000		152.3		0.0		0.0		152.3
12-31-2021		252.1		0.0		0.0		204.3		0.0		0.0		47.880		0.000		0.000		9,783.3		0.0		0.0		9,783.3
12-31-2022		499.5		0.0		0.0		404.9		0.0		0.0		48.780		0.000		0.000		19,749.4		0.0		0.0		19,749.4
12-31-2023		976.4		0.0		0.0		791.4		0.0		0.0		48.780		0.000		0.000		38,602.2		0.0		0.0		38,602.2
12-31-2024		1,268.0		0.0		0.0		1,027.7		0.0		0.0		48.780		0.000		0.000		50,133.0		0.0		0.0		50,133.0
12-31-2025		1,123.6		0.0		0.0		910.7		0.0		0.0		48.780		0.000		0.000		44,422.0		0.0		0.0		44,422.0
12-31-2026		925.0		0.0		0.0		749.7		0.0		0.0		48.780		0.000		0.000		36,570.1		0.0		0.0		36,570.1
12-31-2027		800.1		0.0		0.0		648.5		0.0		0.0		48.780		0.000		0.000		31,633.3		0.0		0.0		31,633.3
12-31-2028		701.0		0.0		0.0		568.2		0.0		0.0		48.780		0.000		0.000		27,715.9		0.0		0.0		27,715.9
12-31-2029		620.5		0.0		0.0		503.0		0.0		0.0		48.780		0.000		0.000		24,534.2		0.0		0.0		24,534.2
12-31-2030		555.0		0.0		0.0		449.9		0.0		0.0		48.780		0.000		0.000		21,944.2		0.0		0.0		21,944.2
SUBTOTAL		7,725.3		0.0		0.0		6,261.4		0.0		0.0		48.750		0.000		0.000		305,239.9		0.0		0.0		305,239.9
REMAINING		4,884.3		0.0		0.0		3,958.7		0.0		974.6		48.780		0.000		1.645		193,107.2		0.0		1,603.2		194,710.4
TOTAL		12,609.6		0.0		0.0		10,220.1		0.0		974.6		48.761		0.000		1.645		498,347.1		0.0		1,603.2		499,950.3
CUM PROD		0.0				0.0
ULTIMATE		12,609.6				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		78,118.4
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		46,381.8
12-31-2018		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		15.000		31,487.1
12-31-2019		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		20.000		16,407.2
12-31-2020		0		0.0		1.2		1.7		4,058.7		0.0		11.3		-3,920.6		-3,920.6		-2,581.3		25.000		8,232.7
12-31-2021		14		13.8		66.1		106.8		27,964.9		0.0		996.0		-19,350.5		-23,271.1		-14,695.4		30.000		3,712.2
12-31-2022		25		24.7		131.5		215.2		30,428.1		0.0		2,178.2		-13,203.6		-36,474.7		-22,237.3		35.000		1,192.7
12-31-2023		48		47.5		256.6		421.1		29,646.1		0.0		4,198.6		4,079.8		-32,394.9		-20,143.6		40.000		-206.7
12-31-2024		69		68.2		332.7		547.8		28,283.1		0.0		5,867.2		15,102.2		-17,292.7		-12,994.6		45.000		-957.7
12-31-2025		72		71.2		296.1		485.3		0.0		0.0		5,957.4		37,683.2		20,390.5		3,155.2		50.000		-1,335.7
12-31-2026		72		71.2		243.1		400.2		0.0		0.0		5,395.1		30,531.7		50,922.2		15,041.0
12-31-2027		72		71.2		209.8		345.8		0.0		0.0		5,042.5		26,035.2		76,957.4		24,254.1
12-31-2028		72		71.2		184.9		302.9		0.0		0.0		4,762.4		22,465.7		99,423.1		31,481.0
12-31-2029		72		71.2		162.7		267.8		0.0		0.0		4,534.2		19,569.5		118,992.6		37,202.2
12-31-2030		72		71.2		146.0		239.8		0.0		0.0		4,348.3		17,210.1		136,202.7		41,775.9
SUBTOTAL						2,030.7		3,334.4		120,380.9		0.0		43,291.2		136,202.7		136,202.7		41,775.9
REMAINING						1,284.3		2,110.9		0.0		7,268.9		90,925.9		93,120.4		229,323.1		60,123.5
TOTAL OF 29.8 YRS						3,315.0		5,445.3		120,380.9		7,268.9		134,217.1		229,323.1		229,323.1		60,123.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
WTU 237 PROSPECT, LOS ANGELES COUNTY
014891	W237 15 PRP 1		1		0		81.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
014892	W237 15 PRP 2		1		0		81.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
014893	W237 15 PRP 3		1		0		81.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
014894	W237 15 PRP 4		1		0		81.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
014895	W237 15 PRP 5		1		0		81.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
	PROSPECT TOTAL		5		0		405.9		0.0
WTU FORD PROSPECT, LOS ANGELES COUNTY
514890	WFR+2 15 PUP 1 IPB		1		0		37.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
014960	WFORD 11 PRP 1		1		0		141.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		28.8
015030	WFORD 11 PRP 2		1		0		141.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
014910	WFORD 11 PRP 3		1		0		141.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
515000	WFORD 12 PUI 1 EXT		0		0		15.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
023960	WFORD 12 PRI 1		0		0		317.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.9		28.8
015050	WFORD 12 PRI 2		0		0		317.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.9		28.8
013840	WFORD 14 PRP 4		1		0		141.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
014980	WFORD 14 PRP 5		1		0		141.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
013860	WFORD 14 PRP 6		1		0		141.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
023950	WFORD 14 PRP 7		1		0		141.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
015010	WFORD 15 PRI 3		0		0		317.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.9		28.8
513770	WTU 2141 FORD EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.5		20.3
513720	WTU 2150 FORD EXT		1		0		1.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.3		3.5		23.1
	PROSPECT TOTAL		9		0		1,996.5		0.0
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
014440	FE WTU PRB		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		264.0		264.0		28.8
500474	WTU GAS SALES PRB		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		2.702		2.702		7.2		7.2		28.8
000459	WTU FUEL GAS PRB		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		28.8
021390	ABAN WTU PRB G		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		29.8
	PROSPECT TOTAL		0		0		0.0		0.0
WTU RANGER PROSPECT, LOS ANGELES COUNTY
013450	WRGR 11 PRI 01		0		0		128.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
014300	WRGR 11 PRI 02		0		0		128.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
014500	WRGR 11 PRI 03		0		0		128.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
013470	WRGR 11 PRI 04		0		0		128.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
013480	WRGR 11 PRI 05		0		0		128.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
014660	WRGR 11 PRI 06		0		0		128.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
013500	WRGR 12 PRI 07		0		0		128.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
013510	WRGR 12 PRI 08		0		0		128.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
513520	WRGR 12 PUI 09 EXT		0		0		10.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		28.8
523750	WRGR 12 PUI 10 EXT		0		0		10.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		28.8
523780	WRGR 12 PUI 11 EXT		0		0		10.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		28.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
WTU 237 PROSPECT, LOS ANGELES COUNTY
014891	W237 15 PRP 1		81.2		0.0		0.0		65.8		0.0		0.0		3,212.2		0.0		0.0		56.5		1,190.7		0.0		1,020.8		944.2		145.6
014892	W237 15 PRP 2		81.2		0.0		0.0		65.8		0.0		0.0		3,212.2		0.0		0.0		56.5		1,190.7		0.0		1,020.8		944.2		145.6
014893	W237 15 PRP 3		81.2		0.0		0.0		65.8		0.0		0.0		3,208.5		0.0		0.0		56.3		1,190.7		0.0		1,017.4		944.1		144.5
014894	W237 15 PRP 4		81.2		0.0		0.0		65.8		0.0		0.0		3,208.5		0.0		0.0		56.3		1,190.7		0.0		1,017.4		944.1		144.5
014895	W237 15 PRP 5		81.2		0.0		0.0		65.8		0.0		0.0		3,208.5		0.0		0.0		56.3		1,190.7		0.0		1,017.4		944.1		144.5
	PROSPECT TOTAL		405.9		0.0		0.0		329.0		0.0		0.0		16,049.9		0.0		0.0		281.9		5,953.5		0.0		5,093.8		4,720.7		724.7
WTU FORD PROSPECT, LOS ANGELES COUNTY
514890	WFR+2 15 PUP 1 IPB		37.1		0.0		0.0		30.1		0.0		0.0		1,462.7		0.0		0.0		25.8		0.0		0.0		381.2		1,055.7		369.5
014960	WFORD 11 PRP 1		141.8		0.0		0.0		114.9		0.0		0.0		5,607.1		0.0		0.0		98.6		1,141.3		0.0		1,275.7		3,091.5		890.4
015030	WFORD 11 PRP 2		141.7		0.0		0.0		114.8		0.0		0.0		5,601.7		0.0		0.0		98.6		1,141.3		0.0		1,272.2		3,089.6		883.2
014910	WFORD 11 PRP 3		141.7		0.0		0.0		114.8		0.0		0.0		5,601.7		0.0		0.0		98.6		1,141.3		0.0		1,272.2		3,089.6		883.2
515000	WFORD 12 PUI 1 EXT		15.1		0.0		0.0		12.2		0.0		0.0		596.3		0.0		0.0		10.5		0.0		0.0		42.7		543.1		51.6
023960	WFORD 12 PRI 1		317.3		0.0		0.0		257.2		0.0		0.0		12,546.2		0.0		0.0		220.4		1,090.8		0.0		897.4		10,337.6		2,730.0
015050	WFORD 12 PRI 2		317.3		0.0		0.0		257.2		0.0		0.0		12,546.2		0.0		0.0		220.4		1,090.8		0.0		897.4		10,337.6		2,730.0
013840	WFORD 14 PRP 4		141.5		0.0		0.0		114.7		0.0		0.0		5,596.1		0.0		0.0		98.3		1,141.3		0.0		1,268.6		3,087.9		875.9
014980	WFORD 14 PRP 5		141.5		0.0		0.0		114.7		0.0		0.0		5,596.1		0.0		0.0		98.3		1,141.3		0.0		1,268.6		3,087.9		875.9
013860	WFORD 14 PRP 6		141.4		0.0		0.0		114.6		0.0		0.0		5,590.6		0.0		0.0		98.1		1,141.3		0.0		1,264.9		3,086.3		869.1
023950	WFORD 14 PRP 7		141.4		0.0		0.0		114.6		0.0		0.0		5,590.6		0.0		0.0		98.1		1,141.3		0.0		1,264.9		3,086.3		869.1
015010	WFORD 15 PRI 3		317.0		0.0		0.0		256.9		0.0		0.0		12,533.5		0.0		0.0		220.1		1,090.8		0.0		896.7		10,325.9		2,707.5
513770	WTU 2141 FORD EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
513720	WTU 2150 FORD EXT		1.6		0.0		0.0		1.3		0.0		0.0		63.8		0.0		0.0		1.1		0.0		0.0		59.3		3.4		0.4
	PROSPECT TOTAL		1,996.5		0.0		0.0		1,618.2		0.0		0.0		78,932.6		0.0		0.0		1,386.9		11,261.5		0.0		12,061.8		54,222.4		14,735.8
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
014440	FE WTU PRB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		22,450.6		-22,450.6		-2,062.9
500474	WTU GAS SALES PRB		0.0		0.0		0.0		0.0		0.0		593.3		0.0		0.0		1,603.2		0.0		0.0		0.0		615.4		987.8		90.8
000459	WTU FUEL GAS PRB		0.0		0.0		0.0		0.0		0.0		381.2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021390	ABAN WTU PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		7,268.9		0.0		-7,268.9		991.7
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		974.6		0.0		0.0		1,603.2		0.0		0.0		7,268.9		23,066.0		-28,731.7		-980.4
WTU RANGER PROSPECT, LOS ANGELES COUNTY
013450	WRGR 11 PRI 01		128.8		0.0		0.0		104.4		0.0		0.0		5,092.9		0.0		0.0		89.5		1,265.9		0.0		364.2		3,373.3		692.4
014300	WRGR 11 PRI 02		128.7		0.0		0.0		104.3		0.0		0.0		5,087.9		0.0		0.0		89.4		1,265.9		0.0		364.1		3,368.5		686.8
014500	WRGR 11 PRI 03		128.7		0.0		0.0		104.3		0.0		0.0		5,087.9		0.0		0.0		89.4		1,265.9		0.0		364.1		3,368.5		686.8
013470	WRGR 11 PRI 04		128.6		0.0		0.0		104.2		0.0		0.0		5,083.0		0.0		0.0		89.4		1,265.9		0.0		363.6		3,364.1		681.0
013480	WRGR 11 PRI 05		128.6		0.0		0.0		104.2		0.0		0.0		5,083.0		0.0		0.0		89.4		1,265.9		0.0		363.6		3,364.1		681.0
014660	WRGR 11 PRI 06		128.4		0.0		0.0		104.1		0.0		0.0		5,077.8		0.0		0.0		88.9		1,265.9		0.0		363.5		3,359.5		675.6
013500	WRGR 12 PRI 07		128.4		0.0		0.0		104.1		0.0		0.0		5,077.8		0.0		0.0		88.9		1,265.9		0.0		363.5		3,359.5		675.6
013510	WRGR 12 PRI 08		128.3		0.0		0.0		104.0		0.0		0.0		5,072.7		0.0		0.0		89.1		1,265.9		0.0		362.9		3,354.8		669.9
513520	WRGR 12 PUI 09 EXT		10.6		0.0		0.0		8.6		0.0		0.0		418.7		0.0		0.0		7.4		0.0		0.0		30.0		381.3		36.4
523750	WRGR 12 PUI 10 EXT		10.7		0.0		0.0		8.7		0.0		0.0		422.0		0.0		0.0		7.4		0.0		0.0		30.2		384.4		36.7
523780	WRGR 12 PUI 11 EXT		10.7		0.0		0.0		8.7		0.0		0.0		422.0		0.0		0.0		7.4		0.0		0.0		30.2		384.4		36.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
523790	WRGR 12 PUI 12 EXT		0		0		10.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
513460	WRGR 14 PUI 13 EXT		0		0		12.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
514540	WRGR 14 PUI 14 EXT		0		0		12.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
514650	WRGR 14 PUI 15 EXT		0		0		12.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
513490	WRGR 14 PUI 16 EXT		0		0		12.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
514670	WRGR 14 PUI 17 EXT		0		0		12.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
514680	WRGR 14 PUI 18 EXT		0		0		12.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
514690	WRGR 14 PUI 19 EXT		0		0		13.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
522240	WRGR 14 PUI 20 EXT		0		0		13.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
523760	WRGR 14 PUI 21 EXT		0		0		13.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
523800	WRGR 14 PUI 22 EXT		0		0		13.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
522250	WRGR 14 PUI 23 EXT		0		0		13.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
523770	WRGR 14 PUI 24 EXT		0		0		13.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
522260	WRGR 14 PUI 25 EXT		0		0		13.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
523820	WRGR 14 PUI 26 EXT		0		0		13.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
523830	WRGR 14 PUI 27 EXT		0		0		13.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
523810	WRGR 14 PUI 28 EXT		0		0		13.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		28.8
513420	WRGR 12 PUP 01 EXT		1		0		2.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514700	WRGR 12 PUP 02 EXT		1		0		2.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514710	WRGR 12 PUP 03 EXT		1		0		2.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514720	WRGR 12 PUP 04 EXT		1		0		2.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014730	WRGR 12 PRP 05		1		0		39.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014740	WRGR 12 PRP 06		1		0		39.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014750	WRGR 12 PRP 07		1		0		38.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014760	WRGR 12 PRP 08		1		0		39.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014770	WRGR 12 PRP 09		1		0		39.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014780	WRGR 12 PRP 10		1		0		39.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014790	WRGR 12 PRP 11		1		0		39.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014800	WRGR 12 PRP 12		1		0		39.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
014810	WRGR 12 PRP 13		1		0		39.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514820	WRGR 14 PUP 14 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514830	WRGR 14 PUP 15 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514840	WRGR 14 PUP 16 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514850	WRGR 14 PUP 17 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514860	WRGR 14 PUP 18 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514870	WRGR 14 PUP 19 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514880	WRGR 14 PUP 20 EXT		1		0		3.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
513390	WRGR 14 PUP 21 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
513400	WRGR 14 PUP 22 EXT		1		0		3.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
513410	WRGR 14 PUP 23 EXT		1		0		3.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
514420	WRGR 14 PUP 24 EXT		1		0		3.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
513580	WRGR 14 PUP 25 EXT		1		0		3.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
523790	WRGR 12 PUI 12 EXT		10.8		0.0		0.0		8.7		0.0		0.0		425.3		0.0		0.0		7.4		0.0		0.0		30.4		387.5		37.0
513460	WRGR 14 PUI 13 EXT		12.7		0.0		0.0		10.3		0.0		0.0		501.6		0.0		0.0		8.8		0.0		0.0		35.9		456.9		43.6
514540	WRGR 14 PUI 14 EXT		12.7		0.0		0.0		10.3		0.0		0.0		501.6		0.0		0.0		8.8		0.0		0.0		35.9		456.9		43.6
514650	WRGR 14 PUI 15 EXT		12.8		0.0		0.0		10.4		0.0		0.0		505.6		0.0		0.0		8.9		0.0		0.0		36.2		460.5		43.9
513490	WRGR 14 PUI 16 EXT		12.8		0.0		0.0		10.4		0.0		0.0		505.6		0.0		0.0		8.9		0.0		0.0		36.2		460.5		43.9
514670	WRGR 14 PUI 17 EXT		12.9		0.0		0.0		10.4		0.0		0.0		509.5		0.0		0.0		9.0		0.0		0.0		36.5		464.0		44.3
514680	WRGR 14 PUI 18 EXT		12.9		0.0		0.0		10.4		0.0		0.0		509.5		0.0		0.0		9.0		0.0		0.0		36.5		464.0		44.3
514690	WRGR 14 PUI 19 EXT		13.0		0.0		0.0		10.5		0.0		0.0		513.6		0.0		0.0		9.0		0.0		0.0		36.7		467.9		44.6
522240	WRGR 14 PUI 20 EXT		13.0		0.0		0.0		10.5		0.0		0.0		513.6		0.0		0.0		9.0		0.0		0.0		36.7		467.9		44.6
523760	WRGR 14 PUI 21 EXT		13.1		0.0		0.0		10.6		0.0		0.0		517.6		0.0		0.0		9.1		0.0		0.0		37.0		471.5		45.0
523800	WRGR 14 PUI 22 EXT		13.1		0.0		0.0		10.6		0.0		0.0		517.6		0.0		0.0		9.1		0.0		0.0		37.0		471.5		45.0
522250	WRGR 14 PUI 23 EXT		13.2		0.0		0.0		10.7		0.0		0.0		521.7		0.0		0.0		9.2		0.0		0.0		37.3		475.2		45.3
523770	WRGR 14 PUI 24 EXT		13.2		0.0		0.0		10.7		0.0		0.0		521.7		0.0		0.0		9.2		0.0		0.0		37.3		475.2		45.3
522260	WRGR 14 PUI 25 EXT		13.3		0.0		0.0		10.8		0.0		0.0		525.8		0.0		0.0		9.2		0.0		0.0		37.6		479.0		45.7
523820	WRGR 14 PUI 26 EXT		13.3		0.0		0.0		10.8		0.0		0.0		525.8		0.0		0.0		9.2		0.0		0.0		37.6		479.0		45.7
523830	WRGR 14 PUI 27 EXT		13.4		0.0		0.0		10.9		0.0		0.0		530.0		0.0		0.0		9.3		0.0		0.0		37.9		482.8		46.0
523810	WRGR 14 PUI 28 EXT		13.4		0.0		0.0		10.9		0.0		0.0		530.0		0.0		0.0		9.3		0.0		0.0		37.9		482.8		46.0
513420	WRGR 12 PUP 01 EXT		2.7		0.0		0.0		2.2		0.0		0.0		105.0		0.0		0.0		1.8		0.0		0.0		284.0		-180.8		-16.3
514700	WRGR 12 PUP 02 EXT		2.6		0.0		0.0		2.1		0.0		0.0		103.4		0.0		0.0		1.8		0.0		0.0		283.9		-182.3		-16.4
514710	WRGR 12 PUP 03 EXT		2.6		0.0		0.0		2.1		0.0		0.0		103.4		0.0		0.0		1.8		0.0		0.0		283.9		-182.3		-16.4
514720	WRGR 12 PUP 04 EXT		2.6		0.0		0.0		2.1		0.0		0.0		104.2		0.0		0.0		1.8		0.0		0.0		284.0		-181.6		-16.4
014730	WRGR 12 PRP 05		39.0		0.0		0.0		31.6		0.0		0.0		1,539.1		0.0		0.0		27.2		1,288.6		0.0		1,017.0		-793.7		-475.7
014740	WRGR 12 PRP 06		39.0		0.0		0.0		31.6		0.0		0.0		1,539.1		0.0		0.0		27.2		1,288.6		0.0		1,017.0		-793.7		-475.7
014750	WRGR 12 PRP 07		38.9		0.0		0.0		31.6		0.0		0.0		1,539.2		0.0		0.0		27.1		1,288.6		0.0		1,013.6		-790.1		-471.0
014760	WRGR 12 PRP 08		39.0		0.0		0.0		31.6		0.0		0.0		1,540.0		0.0		0.0		27.2		1,288.6		0.0		1,023.6		-799.4		-484.3
014770	WRGR 12 PRP 09		39.0		0.0		0.0		31.6		0.0		0.0		1,539.4		0.0		0.0		27.0		1,288.6		0.0		1,020.2		-796.4		-480.1
014780	WRGR 12 PRP 10		39.0		0.0		0.0		31.6		0.0		0.0		1,539.4		0.0		0.0		27.0		1,288.6		0.0		1,020.2		-796.4		-480.1
014790	WRGR 12 PRP 11		39.1		0.0		0.0		31.7		0.0		0.0		1,540.7		0.0		0.0		27.1		1,288.6		0.0		1,027.0		-802.0		-488.9
014800	WRGR 12 PRP 12		39.0		0.0		0.0		31.6		0.0		0.0		1,540.0		0.0		0.0		27.2		1,288.6		0.0		1,023.6		-799.4		-484.3
014810	WRGR 12 PRP 13		39.1		0.0		0.0		31.7		0.0		0.0		1,540.7		0.0		0.0		27.1		1,288.6		0.0		1,027.0		-802.0		-488.9
514820	WRGR 14 PUP 14 EXT		3.2		0.0		0.0		2.6		0.0		0.0		126.8		0.0		0.0		2.2		0.0		0.0		285.6		-161.0		-14.4
514830	WRGR 14 PUP 15 EXT		3.2		0.0		0.0		2.6		0.0		0.0		125.9		0.0		0.0		2.2		0.0		0.0		285.5		-161.8		-14.5
514840	WRGR 14 PUP 16 EXT		3.2		0.0		0.0		2.6		0.0		0.0		126.8		0.0		0.0		2.2		0.0		0.0		285.6		-161.0		-14.4
514850	WRGR 14 PUP 17 EXT		3.2		0.0		0.0		2.6		0.0		0.0		126.8		0.0		0.0		2.2		0.0		0.0		285.6		-161.0		-14.4
514860	WRGR 14 PUP 18 EXT		3.2		0.0		0.0		2.6		0.0		0.0		124.9		0.0		0.0		2.2		0.0		0.0		285.4		-162.7		-14.6
514870	WRGR 14 PUP 19 EXT		3.2		0.0		0.0		2.6		0.0		0.0		125.9		0.0		0.0		2.2		0.0		0.0		285.5		-161.8		-14.5
514880	WRGR 14 PUP 20 EXT		3.1		0.0		0.0		2.5		0.0		0.0		123.9		0.0		0.0		2.2		0.0		0.0		285.4		-163.7		-14.6
513390	WRGR 14 PUP 21 EXT		3.2		0.0		0.0		2.6		0.0		0.0		124.9		0.0		0.0		2.2		0.0		0.0		285.4		-162.7		-14.6
513400	WRGR 14 PUP 22 EXT		3.4		0.0		0.0		2.8		0.0		0.0		135.1		0.0		0.0		2.4		0.0		0.0		286.2		-153.5		-13.7
513410	WRGR 14 PUP 23 EXT		3.4		0.0		0.0		2.7		0.0		0.0		133.0		0.0		0.0		2.4		0.0		0.0		286.0		-155.4		-13.9
514420	WRGR 14 PUP 24 EXT		3.4		0.0		0.0		2.7		0.0		0.0		134.0		0.0		0.0		2.4		0.0		0.0		286.1		-154.5		-13.8
513580	WRGR 14 PUP 25 EXT		3.4		0.0		0.0		2.7		0.0		0.0		134.0		0.0		0.0		2.4		0.0		0.0		286.1		-154.5		-13.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
513590	WRGR 14 PUP 26 EXT		1		0		3.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
507420	WTU 1414 RGR EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.9		3.5		19.3
508640	WTU 1476 RGR EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		21.4
523560	WTU 2156 RGR EXT		1		0		7.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		3.5		27.3
514480	WTU 2213 RGR EXT		1		0		4.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.5		24.8
514370	WTU 2218 RGR EXT		1		0		0.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.5		22.2
509800	WTU 2226 RGR EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		3.5		21.6
514380	WTU 2228 RGR EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.5		22.5
513430	WTU 2233 RGR EXT		1		0		8.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.6		3.5		27.4
513550	WTU 2236 RGR EXT		1		0		15.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		28.8
513570	WTU 2243 RGR EXT		1		0		4.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.5		25.4
515230	WTU 2275 RGR EXT		1		0		6.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.3		3.5		26.3
504320	WTU 2371 RGR EXT		1		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.5		26.2
	PROSPECT TOTAL		35		0		1,737.0		0.0
WTU TAR PROSPECT, LOS ANGELES COUNTY
022020	WTAR 14 PRP 1		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		25.8
023600	WTAR 14 PRP 2		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		25.9
019420	WTAR 14 PRP 3		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		25.9
023610	WTAR 14 PRP 4		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		26.0
022040	WTAR 14 PRP 5		1		0		78.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.8
023590	WTAR2 14 PRP 1		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
519450	WTARU 15 PUP 3 EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
024042	WTARU 15 PRI 1		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		28.8
024040	WTARU 15 PRP 1		1		0		144.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
024041	WTARU 15 PRP 2		1		0		143.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.7		28.8
519980	WTR3 14 PUP 1 EXT		1		0		1.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023620	WTR3 14 PRI 01		0		0		171.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022030	WTR3 14 PRI 02		0		0		171.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
519981	WTR3 15 PUP 2 EXT		1		0		1.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
519982	WTR3 15 PUP 3 EXT		1		0		1.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
519983	WTR3 15 PUP 4 EXT		1		0		1.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
519984	WTR3 15 PUP 5 EXT		1		0		1.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
523621	WTR3 15 PUI 1 EXT		0		0		17.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
523622	WTR3 15 PUI 2 EXT		0		0		17.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
523623	WTR3 15 PUI 3 EXT		0		0		17.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.4		28.8
022036	WTR3 15 PRI 03		0		0		171.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022037	WTR3 15 PRI 04		0		0		171.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022038	WTR3 15 PRI 05		0		0		171.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022039	WTR3 15 PRI 06		0		0		171.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022041	WTR3 15 PRI 07		0		0		171.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022042	WTR3 15 PRI 08		0		0		171.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022043	WTR3 15 PRI 09		0		0		170.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING			NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE			REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$			M$		M$
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
513590	WRGR 14 PUP 26 EXT		3.4		0.0		0.0		2.7		0.0		0.0		133.0		0.0		0.0		2.4		0.0		0.0		286.0			-155.4		-13.9
507420	WTU 1414 RGR EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0
508640	WTU 1476 RGR EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0
523560	WTU 2156 RGR EXT		7.6		0.0		0.0		6.2		0.0		0.0		302.0		0.0		0.0		5.3		0.0		0.0		237.0			59.7		6.4
514480	WTU 2213 RGR EXT		4.0		0.0		0.0		3.2		0.0		0.0		156.8		0.0		0.0		2.7		0.0		0.0		133.4			20.7		2.4
514370	WTU 2218 RGR EXT		0.5		0.0		0.0		0.4		0.0		0.0		21.7		0.0		0.0		0.3		0.0		0.0		20.9			0.5		0.1
509800	WTU 2226 RGR EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0
514380	WTU 2228 RGR EXT		0.9		0.0		0.0		0.8		0.0		0.0		36.7		0.0		0.0		0.6		0.0		0.0		34.8			1.3		0.2
513430	WTU 2233 RGR EXT		8.2		0.0		0.0		6.6		0.0		0.0		324.2		0.0		0.0		5.7		0.0		0.0		245.0			73.5		7.9
513550	WTU 2236 RGR EXT		15.1		0.0		0.0		12.3		0.0		0.0		598.8		0.0		0.0		10.5		0.0		0.0		319.3			269.0		26.6
513570	WTU 2243 RGR EXT		4.8		0.0		0.0		3.9		0.0		0.0		190.0		0.0		0.0		3.4		0.0		0.0		158.3			28.3		3.2
515230	WTU 2275 RGR EXT		6.3		0.0		0.0		5.1		0.0		0.0		248.7		0.0		0.0		4.4		0.0		0.0		197.8			46.5		5.1
504320	WTU 2371 RGR EXT		5.7		0.0		0.0		4.6		0.0		0.0		224.8		0.0		0.0		4.0		0.0		0.0		189.7			31.1		3.5
	PROSPECT TOTAL		1,737.0		0.0		0.0		1,407.8		0.0		0.0		68,654.1		0.0		0.0		1,206.4		21,724.6		0.0		19,196.1			26,527.0		1,788.5
WTU TAR PROSPECT, LOS ANGELES COUNTY
022020	WTAR 14 PRP 1		76.0		0.0		0.0		61.6		0.0		0.0		3,006.7		0.0		0.0		52.8		1,235.2		0.0		922.5			796.2		165.8
023600	WTAR 14 PRP 2		76.0		0.0		0.0		61.6		0.0		0.0		3,006.6		0.0		0.0		53.0		1,235.2		0.0		922.6			795.8		164.3
019420	WTAR 14 PRP 3		76.0		0.0		0.0		61.6		0.0		0.0		3,006.6		0.0		0.0		53.0		1,235.2		0.0		922.6			795.8		164.3
023610	WTAR 14 PRP 4		76.0		0.0		0.0		61.6		0.0		0.0		3,006.7		0.0		0.0		52.9		1,235.2		0.0		922.4			796.2		163.1
022040	WTAR 14 PRP 5		78.7		0.0		0.0		63.8		0.0		0.0		3,113.5		0.0		0.0		54.8		1,235.2		0.0		1,039.4			784.1		162.2
023590	WTAR2 14 PRP 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0
519450	WTARU 15 PUP 3 EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0
024042	WTARU 15 PRI 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		1,213.5		0.0		0.0			-1,213.5		-582.0
024040	WTARU 15 PRP 1		144.0		0.0		0.0		116.7		0.0		0.0		5,694.7		0.0		0.0		100.1		1,235.2		0.0		1,272.4			3,087.0		862.7
024041	WTARU 15 PRP 2		143.9		0.0		0.0		116.6		0.0		0.0		5,689.2		0.0		0.0		99.9		1,235.2		0.0		1,268.8			3,085.3		855.8
519980	WTR3 14 PUP 1 EXT		1.7		0.0		0.0		1.4		0.0		0.0		66.6		0.0		0.0		1.1		0.0		0.0		281.3			-215.8		-19.6
023620	WTR3 14 PRI 01		171.7		0.0		0.0		139.2		0.0		0.0		6,790.0		0.0		0.0		119.4		1,213.5		0.0		485.6			4,971.5		1,122.1
022030	WTR3 14 PRI 02		171.6		0.0		0.0		139.1		0.0		0.0		6,783.1		0.0		0.0		119.2		1,213.5		0.0		485.2			4,965.2		1,112.9
519981	WTR3 15 PUP 2 EXT		1.7		0.0		0.0		1.3		0.0		0.0		65.7		0.0		0.0		1.1		0.0		0.0		281.2			-216.6		-19.7
519982	WTR3 15 PUP 3 EXT		1.7		0.0		0.0		1.4		0.0		0.0		66.1		0.0		0.0		1.1		0.0		0.0		281.2			-216.2		-19.7
519983	WTR3 15 PUP 4 EXT		1.6		0.0		0.0		1.3		0.0		0.0		64.8		0.0		0.0		1.1		0.0		0.0		281.1			-217.4		-19.8
519984	WTR3 15 PUP 5 EXT		1.6		0.0		0.0		1.3		0.0		0.0		65.2		0.0		0.0		1.1		0.0		0.0		281.2			-217.1		-19.8
523621	WTR3 15 PUI 1 EXT		17.1		0.0		0.0		13.9		0.0		0.0		676.5		0.0		0.0		11.9		0.0		0.0		48.4			616.2		59.0
523622	WTR3 15 PUI 2 EXT		17.1		0.0		0.0		13.9		0.0		0.0		676.5		0.0		0.0		11.9		0.0		0.0		48.4			616.2		59.0
523623	WTR3 15 PUI 3 EXT		17.3		0.0		0.0		14.0		0.0		0.0		682.5		0.0		0.0		12.0		0.0		0.0		48.8			621.7		59.6
022036	WTR3 15 PRI 03		171.6		0.0		0.0		139.1		0.0		0.0		6,783.1		0.0		0.0		119.2		1,213.5		0.0		485.2			4,965.2		1,112.9
022037	WTR3 15 PRI 04		171.4		0.0		0.0		138.9		0.0		0.0		6,776.3		0.0		0.0		118.9		1,213.5		0.0		484.8	��		4,959.1		1,103.5
022038	WTR3 15 PRI 05		171.2		0.0		0.0		138.8		0.0		0.0		6,769.2		0.0		0.0		119.2		1,213.5		0.0		484.3			4,952.2		1,094.3
022039	WTR3 15 PRI 06		171.2		0.0		0.0		138.8		0.0		0.0		6,769.2		0.0		0.0		119.2		1,213.5		0.0		484.3			4,952.2		1,094.3
022041	WTR3 15 PRI 07		171.0		0.0		0.0		138.6		0.0		0.0		6,762.5		0.0		0.0		118.9		1,213.5		0.0		483.7			4,946.4		1,085.2
022042	WTR3 15 PRI 08		171.0		0.0		0.0		138.6		0.0		0.0		6,762.5		0.0		0.0		118.9		1,213.5		0.0		483.7			4,946.4		1,085.2
022043	WTR3 15 PRI 09		170.9		0.0		0.0		138.5		0.0		0.0		6,755.3		0.0		0.0		118.5		1,213.5		0.0		483.2			4,940.1		1,076.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
022044	WTR3 15 PRI 10		0		0		171.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
022045	WTR3 15 PRI 11		0		0		171.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		28.8
023646	WTR3 15 PRP 01		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023647	WTR3 15 PRP 02		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023648	WTR3 15 PRP 03		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023649	WTR3 15 PRP 04		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023651	WTR3 15 PRP 05		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023652	WTR3 15 PRP 06		1		0		24.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023653	WTR3 15 PRP 07		1		0		24.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023654	WTR3 15 PRP 08		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023655	WTR3 15 PRP 09		1		0		24.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023656	WTR3 15 PRP 10		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
023657	WTR3 15 PRP 11		1		0		24.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		28.8
503010	WTU 2113 TARDU EXT		1		0		0.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.2		3.5		21.8
512940	WTU 2135 TARD3 EXT		1		0		6.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.6		3.5		26.3
523580	WTU 2146 TARDU EXT		1		0		12.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		9.2		3.5		28.8
504250	WTU 2160 TAR EXT		1		0		5.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.8		3.5		25.9
503980	WTU 2166 TAR EXT		1		0		6.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.5		26.7
504080	WTU 2168 TAR EXT		1		0		0.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.0		3.5		22.3
505520	WTU 2171 TAR EXT		1		0		3.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.3		3.5		24.4
513890	WTU 2232 TAR EXT		1		0		7.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.5		27.3
508860	WTU 2238 TAR EXT		1		0		4.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.5		25.5
505370	WTU 2249 TAR EXT		1		0		12.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.5		3.5		28.8
505120	WTU 2498 TAR EXT		1		0		22.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.4		3.9		28.8
505210	WTU 2507 TAR EXT		1		0		19.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		7.3		3.8		28.8
504800	WTU 2511 TAR EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.9		3.5		22.7
504820	WTU 2551 TAR EXT		1		0		5.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.5		25.9
505630	WTU 2569 TAR EXT		1		0		5.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.4		3.5		25.7
504130	WTU 2573 TAR EXT		1		0		9.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.5		28.2
505020	WTU 2577 TAR EXT		1		0		9.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.9		3.5		28.3
504260	WTU 2581 TAR EXT		1		0		12.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.7		3.6		28.8
504520	WTU 2585 TAR EXT		1		0		2.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		5.6		3.5		23.8
	PROSPECT TOTAL		42		0		3,034.4		0.0
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
506020	WTU 1414 UT EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.2		0.1		19.3
508700	WTU 1470 UT EXT		1		0		17.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.0		3.7		28.8
508650	WTU 1476 UT EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		0.2		21.4
303890	WTU 1907 UT EXT		1		0		7.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		27.4
504170	WTU 2127 UT EXT		1		0		11.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.2		3.5		28.8
504840	WTU 2142 UT EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		4.7		3.5		21.1
505790	WTU 2154 UT-J EXT		1		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.7		3.5		26.1
503310	WTU 2161 UT-J EXT		1		0		8.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		6.1		3.5		27.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
022044	WTR3 15 PRI 10		171.7		0.0		0.0		139.2		0.0		0.0		6,790.0		0.0		0.0		119.4		1,213.5		0.0		485.6		4,971.5		1,122.1
022045	WTR3 15 PRI 11		171.4		0.0		0.0		138.9		0.0		0.0		6,776.3		0.0		0.0		118.9		1,213.5		0.0		484.8		4,959.1		1,103.5
023646	WTR3 15 PRP 01		24.7		0.0		0.0		20.0		0.0		0.0		975.5		0.0		0.0		17.2		1,235.2		0.0		864.0		-1,140.9		-433.6
023647	WTR3 15 PRP 02		24.7		0.0		0.0		20.0		0.0		0.0		976.3		0.0		0.0		17.2		1,235.2		0.0		867.4		-1,143.5		-437.5
023648	WTR3 15 PRP 03		24.7		0.0		0.0		20.0		0.0		0.0		977.8		0.0		0.0		17.3		1,235.2		0.0		873.9		-1,148.6		-444.6
023649	WTR3 15 PRP 04		24.7		0.0		0.0		20.0		0.0		0.0		977.0		0.0		0.0		17.1		1,235.2		0.0		870.7		-1,146.0		-440.8
023651	WTR3 15 PRP 05		24.7		0.0		0.0		20.0		0.0		0.0		977.0		0.0		0.0		17.1		1,235.2		0.0		870.7		-1,146.0		-440.8
023652	WTR3 15 PRP 06		24.8		0.0		0.0		20.1		0.0		0.0		978.7		0.0		0.0		17.1		1,235.2		0.0		877.1		-1,150.7		-448.4
023653	WTR3 15 PRP 07		24.8		0.0		0.0		20.1		0.0		0.0		978.7		0.0		0.0		17.1		1,235.2		0.0		877.1		-1,150.7		-448.4
023654	WTR3 15 PRP 08		24.7		0.0		0.0		20.0		0.0		0.0		977.8		0.0		0.0		17.3		1,235.2		0.0		873.9		-1,148.6		-444.6
023655	WTR3 15 PRP 09		24.8		0.0		0.0		20.1		0.0		0.0		979.4		0.0		0.0		17.3		1,235.2		0.0		880.3		-1,153.4		-452.2
023656	WTR3 15 PRP 10		24.7		0.0		0.0		20.0		0.0		0.0		976.3		0.0		0.0		17.2		1,235.2		0.0		867.4		-1,143.5		-437.5
023657	WTR3 15 PRP 11		24.7		0.0		0.0		20.0		0.0		0.0		975.5		0.0		0.0		17.2		1,235.2		0.0		864.0		-1,140.9		-433.6
503010	WTU 2113 TARDU EXT		0.2		0.0		0.0		0.1		0.0		0.0		7.1		0.0		0.0		0.1		0.0		0.0		6.9		0.1		0.0
512940	WTU 2135 TARD3 EXT		6.0		0.0		0.0		4.8		0.0		0.0		235.9		0.0		0.0		4.2		0.0		0.0		193.7		38.0		4.2
523580	WTU 2146 TARDU EXT		12.1		0.0		0.0		9.8		0.0		0.0		479.3		0.0		0.0		8.4		0.0		0.0		310.8		160.1		16.1
504250	WTU 2160 TAR EXT		5.5		0.0		0.0		4.4		0.0		0.0		215.5		0.0		0.0		3.8		0.0		0.0		179.4		32.3		3.6
503980	WTU 2166 TAR EXT		6.6		0.0		0.0		5.4		0.0		0.0		262.4		0.0		0.0		4.6		0.0		0.0		211.7		46.1		5.1
504080	WTU 2168 TAR EXT		0.7		0.0		0.0		0.6		0.0		0.0		29.0		0.0		0.0		0.5		0.0		0.0		27.8		0.7		0.1
505520	WTU 2171 TAR EXT		3.3		0.0		0.0		2.7		0.0		0.0		130.8		0.0		0.0		2.3		0.0		0.0		115.5		13.0		1.5
513890	WTU 2232 TAR EXT		7.8		0.0		0.0		6.3		0.0		0.0		307.6		0.0		0.0		5.4		0.0		0.0		240.6		61.6		6.6
508860	WTU 2238 TAR EXT		4.8		0.0		0.0		3.9		0.0		0.0		191.7		0.0		0.0		3.4		0.0		0.0		161.6		26.7		3.0
505370	WTU 2249 TAR EXT		12.2		0.0		0.0		9.9		0.0		0.0		481.7		0.0		0.0		8.5		0.0		0.0		311.0		162.2		16.3
505120	WTU 2498 TAR EXT		22.6		0.0		0.0		18.4		0.0		0.0		895.3		0.0		0.0		15.8		0.0		0.0		340.5		539.0		50.5
505210	WTU 2507 TAR EXT		19.8		0.0		0.0		16.0		0.0		0.0		781.7		0.0		0.0		13.7		0.0		0.0		332.4		435.6		41.9
504800	WTU 2511 TAR EXT		1.1		0.0		0.0		0.9		0.0		0.0		44.1		0.0		0.0		0.8		0.0		0.0		41.8		1.5		0.2
504820	WTU 2551 TAR EXT		5.5		0.0		0.0		4.4		0.0		0.0		216.6		0.0		0.0		3.8		0.0		0.0		179.5		33.3		3.7
505630	WTU 2569 TAR EXT		5.1		0.0		0.0		4.1		0.0		0.0		200.7		0.0		0.0		3.5		0.0		0.0		168.7		28.5		3.2
504130	WTU 2573 TAR EXT		9.2		0.0		0.0		7.5		0.0		0.0		365.1		0.0		0.0		6.4		0.0		0.0		276.9		81.8		8.6
505020	WTU 2577 TAR EXT		9.4		0.0		0.0		7.6		0.0		0.0		370.8		0.0		0.0		6.6		0.0		0.0		280.5		83.7		8.8
504260	WTU 2581 TAR EXT		12.7		0.0		0.0		10.3		0.0		0.0		500.4		0.0		0.0		8.8		0.0		0.0		312.3		179.3		17.9
504520	WTU 2585 TAR EXT		2.5		0.0		0.0		2.0		0.0		0.0		97.8		0.0		0.0		1.8		0.0		0.0		87.4		8.6		1.0
	PROSPECT TOTAL		3,034.4		0.0		0.0		2,459.4		0.0		0.0		119,968.9		0.0		0.0		2,109.0		36,795.6		0.0		27,518.2		53,546.1		9,477.8
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
506020	WTU 1414 UT EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
508700	WTU 1470 UT EXT		17.4		0.0		0.0		14.1		0.0		0.0		686.1		0.0		0.0		12.1		0.0		0.0		325.6		348.4		33.5
508650	WTU 1476 UT EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
303890	WTU 1907 UT EXT		7.9		0.0		0.0		6.4		0.0		0.0		311.6		0.0		0.0		5.5		0.0		0.0		244.1		62.0		6.7
504170	WTU 2127 UT EXT		11.0		0.0		0.0		8.9		0.0		0.0		434.3		0.0		0.0		7.6		0.0		0.0		307.6		119.1		12.2
504840	WTU 2142 UT EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
505790	WTU 2154 UT-J EXT		5.7		0.0		0.0		4.6		0.0		0.0		226.4		0.0		0.0		4.0		0.0		0.0		186.6		35.8		4.0
503310	WTU 2161 UT-J EXT		8.8		0.0		0.0		7.1		0.0		0.0		348.3		0.0		0.0		6.1		0.0		0.0		266.0		76.2		8.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL					GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL					$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END			START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
508900	WTU 2222 UT-HX EXT		1		0		0.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		5.2		3.5		22.0
505140	WTU 2229 UT EXT		1		0		13.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		6.0		3.6		28.8
515360	WTU 2230 UT-J EXT		1		0		14.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		8.1		3.6		28.8
515350	WTU 2240 UT-HX EXT		1		0		18.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		9.3		3.7		28.8
503860	WTU 2251 UT EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		5.8		3.5		24.3
504180	WTU 2358 UT EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		5.6		3.5		21.2
503920	WTU 2410 UT EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		4.1		3.5		22.9
305000	WTU 2515 UT EXT		1		0		13.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
016470	WUTH 14 PUP 1 IPB		1		0		32.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000	��		0.000		0.000		3.3		3.5		28.8
016490	WUTH 14 PUP 2 IPB		1		0		32.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.5		28.8
016690	WUTH 14 PUP 3 IPB		1		0		32.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.5		28.8
022640	WUTH 14 PRP 01		1		0		126.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
022630	WUTH 14 PRP 02		1		0		126.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
022650	WUTH 14 PRP 03		1		0		113.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
022590	WUTH 14 PRP 04		1		0		126.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
022610	WUTH 14 PRP 05		1		0		126.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
022670	WUTH 14 PRP 06		1		0		126.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023680	WUTH 14 PRP 07		1		0		126.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023690	WUTH 14 PRP 08		1		0		126.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023700	WUTH 14 PRP 09		1		0		126.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023710	WUTH 14 PRP 10		1		0		126.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023720	WUTH 14 PRP 11		1		0		126.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023730	WUTH 14 PRP 12		1		0		126.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023740	WUTH 14 PRP 13		1		0		125.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023840	WUTH 14 PRP 14		1		0		125.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023850	WUTH 14 PRP 15		1		0		125.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023860	WUTH 14 PRP 16		1		0		125.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023890	WUTH 14 PRP 17		1		0		125.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023980	WUTH 14 PRP 18		1		0		125.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
023990	WUTH 14 PRP 19		1		0		125.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
024000	WUTH 14 PRP 20		1		0		125.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
024020	WUTH 14 PRP 21		1		0		125.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
024030	WUTH 14 PRP 22		1		0		125.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.6		28.8
014070	WUTJ 11 PRP 1		1		0		226.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8
014080	WUTJ 11 PRP 2		1		0		183.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.7		28.8
014090	WUTJ 11 PRP 3		1		0		226.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8
014100	WUTJ 11 PRP 4		1		0		226.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8
014110	WUTJ 11 PRP 5		1		0		226.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8
014120	WUTJ 11 PRP 6		1		0		226.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8
014210	WUTJ 11 PRP 7		1		0		253.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.9		28.8
014170	WUTJ 14 PRP 2		1		0		223.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8
014180	WUTJ 14 PRP 3		1		0		223.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000			0.000		0.000		3.3		3.8		28.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
508900	WTU 2222 UT-HX EXT		0.4		0.0		0.0		0.3		0.0		0.0		14.3		0.0		0.0		0.3		0.0		0.0		13.9		0.1		0.0
505140	WTU 2229 UT EXT		13.2		0.0		0.0		10.7		0.0		0.0		521.1		0.0		0.0		9.2		0.0		0.0		313.8		198.1		19.5
515360	WTU 2230 UT-J EXT		14.0		0.0		0.0		11.3		0.0		0.0		552.0		0.0		0.0		9.7		0.0		0.0		316.0		226.3		22.4
515350	WTU 2240 UT-HX EXT		18.3		0.0		0.0		14.8		0.0		0.0		723.5		0.0		0.0		12.7		0.0		0.0		328.3		382.5		37.2
503860	WTU 2251 UT EXT		3.2		0.0		0.0		2.6		0.0		0.0		128.3		0.0		0.0		2.3		0.0		0.0		112.1		13.9		1.6
504180	WTU 2358 UT EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
503920	WTU 2410 UT EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.6		0.0		0.0		1.0		0.0		0.0		52.1		1.5		0.2
305000	WTU 2515 UT EXT		13.3		0.0		0.0		10.8		0.0		0.0		525.4		0.0		0.0		9.2		0.0		0.0		314.1		202.1		20.1
016470	WUTH 14 PUP 1 IPB		32.4		0.0		0.0		26.2		0.0		0.0		1,276.1		0.0		0.0		22.4		0.0		0.0		368.0		885.7		308.7
016490	WUTH 14 PUP 2 IPB		32.4		0.0		0.0		26.3		0.0		0.0		1,278.0		0.0		0.0		22.6		0.0		0.0		368.2		887.2		306.6
016690	WUTH 14 PUP 3 IPB		32.4		0.0		0.0		26.3		0.0		0.0		1,278.0		0.0		0.0		22.6		0.0		0.0		368.2		887.2		306.6
022640	WUTH 14 PRP 01		126.7		0.0		0.0		102.7		0.0		0.0		5,009.0		0.0		0.0		88.1		1,352.9		0.0		1,216.9		2,351.1		567.6
022630	WUTH 14 PRP 02		126.6		0.0		0.0		102.6		0.0		0.0		5,003.8		0.0		0.0		87.8		1,352.9		0.0		1,213.2		2,349.9		563.0
022650	WUTH 14 PRP 03		113.5		0.0		0.0		92.0		0.0		0.0		4,488.2		0.0		0.0		78.8		1,352.9		0.0		1,144.3		1,912.2		410.5
022590	WUTH 14 PRP 04		126.6		0.0		0.0		102.6		0.0		0.0		5,003.8		0.0		0.0		87.8		1,352.9		0.0		1,213.2		2,349.9		563.0
022610	WUTH 14 PRP 05		126.4		0.0		0.0		102.5		0.0		0.0		4,998.7		0.0		0.0		87.9		1,352.9		0.0		1,209.6		2,348.3		558.5
022670	WUTH 14 PRP 06		126.4		0.0		0.0		102.5		0.0		0.0		4,998.7		0.0		0.0		87.9		1,352.9		0.0		1,209.6		2,348.3		558.5
023680	WUTH 14 PRP 07		126.3		0.0		0.0		102.4		0.0		0.0		4,993.4		0.0		0.0		87.8		1,352.9		0.0		1,206.2		2,346.5		554.1
023690	WUTH 14 PRP 08		126.3		0.0		0.0		102.4		0.0		0.0		4,993.4		0.0		0.0		87.8		1,352.9		0.0		1,206.2		2,346.5		554.1
023700	WUTH 14 PRP 09		126.2		0.0		0.0		102.3		0.0		0.0		4,988.3		0.0		0.0		87.7		1,352.9		0.0		1,202.4		2,345.3		549.5
023710	WUTH 14 PRP 10		126.2		0.0		0.0		102.3		0.0		0.0		4,988.3		0.0		0.0		87.7		1,352.9		0.0		1,202.4		2,345.3		549.5
023720	WUTH 14 PRP 11		126.0		0.0		0.0		102.2		0.0		0.0		4,983.0		0.0		0.0		87.5		1,352.9		0.0		1,198.9		2,343.7		545.0
023730	WUTH 14 PRP 12		126.0		0.0		0.0		102.2		0.0		0.0		4,983.0		0.0		0.0		87.5		1,352.9		0.0		1,198.9		2,343.7		545.0
023740	WUTH 14 PRP 13		125.9		0.0		0.0		102.0		0.0		0.0		4,977.5		0.0		0.0		87.3		1,352.9		0.0		1,195.4		2,341.9		540.7
023840	WUTH 14 PRP 14		125.9		0.0		0.0		102.0		0.0		0.0		4,977.5		0.0		0.0		87.3		1,352.9		0.0		1,195.4		2,341.9		540.7
023850	WUTH 14 PRP 15		125.8		0.0		0.0		101.9		0.0		0.0		4,972.3		0.0		0.0		87.5		1,352.9		0.0		1,191.8		2,340.1		536.2
023860	WUTH 14 PRP 16		125.8		0.0		0.0		101.9		0.0		0.0		4,972.3		0.0		0.0		87.5		1,352.9		0.0		1,191.8		2,340.1		536.2
023890	WUTH 14 PRP 17		125.6		0.0		0.0		101.8		0.0		0.0		4,966.8		0.0		0.0		87.2		1,352.9		0.0		1,188.1		2,338.6		532.0
023980	WUTH 14 PRP 18		125.6		0.0		0.0		101.8		0.0		0.0		4,966.8		0.0		0.0		87.2		1,352.9		0.0		1,188.1		2,338.6		532.0
023990	WUTH 14 PRP 19		125.5		0.0		0.0		101.7		0.0		0.0		4,961.5		0.0		0.0		87.2		1,352.9		0.0		1,184.6		2,336.8		527.7
024000	WUTH 14 PRP 20		125.5		0.0		0.0		101.7		0.0		0.0		4,961.5		0.0		0.0		87.2		1,352.9		0.0		1,184.6		2,336.8		527.7
024020	WUTH 14 PRP 21		125.4		0.0		0.0		101.6		0.0		0.0		4,955.8		0.0		0.0		87.1		1,352.9		0.0		1,180.9		2,334.9		523.3
024030	WUTH 14 PRP 22		125.4		0.0		0.0		101.6		0.0		0.0		4,955.8		0.0		0.0		87.1		1,352.9		0.0		1,180.9		2,334.9		523.3
014070	WUTJ 11 PRP 1		226.7		0.0		0.0		183.7		0.0		0.0		8,933.4		0.0		0.0		157.4		1,352.9		0.0		1,583.1		5,840.0		2,069.9
014080	WUTJ 11 PRP 2		183.4		0.0		0.0		148.7		0.0		0.0		7,226.8		0.0		0.0		127.1		1,352.9		0.0		1,460.9		4,285.9		1,541.6
014090	WUTJ 11 PRP 3		226.7		0.0		0.0		183.7		0.0		0.0		8,933.4		0.0		0.0		157.4		1,352.9		0.0		1,583.1		5,840.0		2,069.9
014100	WUTJ 11 PRP 4		226.5		0.0		0.0		183.6		0.0		0.0		8,928.2		0.0		0.0		157.2		1,352.9		0.0		1,579.5		5,838.6		2,054.5
014110	WUTJ 11 PRP 5		226.5		0.0		0.0		183.6		0.0		0.0		8,928.2		0.0		0.0		157.2		1,352.9		0.0		1,579.5		5,838.6		2,054.5
014120	WUTJ 11 PRP 6		226.3		0.0		0.0		183.4		0.0		0.0		8,922.7		0.0		0.0		157.1		1,352.9		0.0		1,575.8		5,836.9		2,039.2
014210	WUTJ 11 PRP 7		253.3		0.0		0.0		205.3		0.0		0.0		10,015.3		0.0		0.0		176.1		1,352.9		0.0		1,616.9		6,869.4		2,194.4
014170	WUTJ 14 PRP 2		223.9		0.0		0.0		181.5		0.0		0.0		8,853.2		0.0		0.0		155.6		1,352.9		0.0		1,530.5		5,814.2		1,864.4
014180	WUTJ 14 PRP 3		223.9		0.0		0.0		181.5		0.0		0.0		8,853.2		0.0		0.0		155.6		1,352.9		0.0		1,530.5		5,814.2		1,864.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
014190	WUTJ 14 PRP 4		1		0		223.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		28.8
014200	WUTJ 14 PRP 5		1		0		223.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		28.8
519470	CTI CAPEX EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		28.8
	PROSPECT TOTAL		48		0		5,435.7		0.0
	TOTAL CALIFORNIA		139		0		12,609.6		0.0
	TOTAL ALL LEASES		139		0		12,609.6		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET			CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE			10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$			M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
014190	WUTJ 14 PRP 4		223.7		0.0		0.0		181.3		0.0		0.0		8,844.9		0.0		0.0		155.6		1,352.9		0.0		1,526.7		5,809.7			1,849.4
014200	WUTJ 14 PRP 5		223.7		0.0		0.0		181.3		0.0		0.0		8,844.9		0.0		0.0		155.6		1,352.9		0.0		1,526.7		5,809.7			1,849.4
519470	CTI CAPEX EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0
	PROSPECT TOTAL		5,435.7		0.0		0.0		4,405.7		0.0		0.0		214,741.6		0.0		0.0		3,776.1		44,645.7		0.0		47,281.2		119,038.6			34,377.1
	TOTAL CALIFORNIA		12,609.6		0.0		0.0		10,220.1		0.0		974.6		498,347.1		0.0		1,603.2		8,760.3		120,380.9		7,268.9		134,217.1		229,323.1	��		60,123.5
	TOTAL ALL LEASES		12,609.6		0.0		0.0		10,220.1		0.0		974.6		498,347.1		0.0		1,603.2		8,760.3		120,380.9		7,268.9		134,217.1		229,323.1			60,123.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

PERIOD ENDING M-D-Y	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2018		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2019		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2020		20.4		0.0		0.0		16.6		0.0		0.0		46.920		0.000		0.000		777.1		0.0		0.0		777.1
12-31-2021		25.6		0.0		0.0		20.7		0.0		0.0		47.880		0.000		0.000		992.7		0.0		0.0		992.7
12-31-2022		27.3		0.0		0.0		22.1		0.0		0.0		48.780		0.000		0.000		1,077.6		0.0		0.0		1,077.6
12-31-2023		93.5		0.0		0.0		75.8		0.0		0.0		48.780		0.000		0.000		3,698.2		0.0		0.0		3,698.2
12-31-2024		180.8		0.0		0.0		146.5		0.0		0.0		48.780		0.000		0.000		7,148.3		0.0		0.0		7,148.3
12-31-2025		516.9		0.0		0.0		419.0		0.0		0.0		48.780		0.000		0.000		20,437.2		0.0		0.0		20,437.2
12-31-2026		994.1		0.0		0.0		805.8		0.0		0.0		48.780		0.000		0.000		39,304.7		0.0		0.0		39,304.7
12-31-2027		999.3		0.0		0.0		810.0		0.0		0.0		48.780		0.000		0.000		39,509.7		0.0		0.0		39,509.7
12-31-2028		840.1		0.0		0.0		680.9		0.0		0.0		48.780		0.000		0.000		33,212.8		0.0		0.0		33,212.8
12-31-2029		723.7		0.0		0.0		586.6		0.0		0.0		48.780		0.000		0.000		28,612.2		0.0		0.0		28,612.2
12-31-2030		637.1		0.0		0.0		516.4		0.0		0.0		48.780		0.000		0.000		25,188.4		0.0		0.0		25,188.4
SUBTOTAL		5,058.8		0.0		0.0		4,100.2		0.0		0.0		48.768		0.000		0.000		199,958.9		0.0		0.0		199,958.9
REMAINING		5,879.6		0.0		0.0		4,765.4		0.0		611.9		48.780		0.000		1.645		232,456.9		0.0		1,006.7		233,463.6
TOTAL		10,938.4		0.0		0.0		8,865.6		0.0		611.9		48.774		0.000		1.645		432,415.8		0.0		1,006.7		433,422.5
CUM PROD		0.0				0.0
ULTIMATE		10,938.4				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		79,485.7
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		47,025.0
12-31-2018		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		15.000		32,604.7
12-31-2019		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		20.000		18,537.7
12-31-2020		0		0.0		5.3		8.5		0.0		0.0		57.7		705.6		705.6		482.9		25.000		11,080.2
12-31-2021		0		0.0		6.8		10.9		0.0		0.0		72.2		902.8		1,608.4		1,047.4		30.000		6,917.4
12-31-2022		0		0.0		7.3		11.6		0.0		0.0		77.2		981.5		2,589.9		1,606.1		35.000		4,481.3
12-31-2023		0		0.0		24.8		40.5		0.0		0.0		264.6		3,368.3		5,958.2		3,323.7		40.000		3,006.6
12-31-2024		0		0.0		47.5		78.0		0.0		0.0		511.7		6,511.1		12,469.3		6,390.6		45.000		2,082.0
12-31-2025		20		19.8		136.0		223.6		33,298.3		0.0		1,815.9		-15,036.6		-2,567.3		-98.8		50.000		1,482.4
12-31-2026		34		33.6		262.0		430.3		22,515.2		0.0		3,912.3		12,184.9		9,617.6		4,579.6
12-31-2027		40		39.6		262.4		431.7		5,941.7		0.0		4,356.8		28,517.1		38,134.7		14,602.2
12-31-2028		40		39.6		220.6		362.5		0.0		0.0		3,919.9		28,709.8		66,844.5		23,837.8
12-31-2029		40		39.6		190.4		312.2		0.0		0.0		3,590.5		24,519.1		91,363.6		31,008.0
12-31-2030		40		39.6		167.4		275.0		0.0		0.0		3,346.4		21,399.6		112,763.2		36,695.9
SUBTOTAL						1,330.5		2,184.8		61,755.2		0.0		21,925.2		112,763.2		112,763.2		36,695.9
REMAINING						1,545.7		2,540.7		0.0		3,634.4		77,502.0		148,240.8		261,004.0		60,803.4
TOTAL OF 34.3 YRS						2,876.2		4,725.5		61,755.2		3,634.4		99,427.2		261,004.0		261,004.0		60,803.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA
WTU 237 PROSPECT, LOS ANGELES COUNTY
714891	W237 15 PRP 1 IPS		1		0		21.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.3
714892	W237 15 PRP 2 IPS		1		0		21.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.3
714893	W237 15 PRP 3 IPS		1		0		21.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.4
714894	W237 15 PRP 4 IPS		1		0		21.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.4
714895	W237 15 PRP 5 IPS		1		0		21.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.4
014896	W237 15 PSP 1		1		0		101.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
023971	W237 15 PSI 1		0		0		198.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		33.3
023972	W237 15 PSI 2		0		0		198.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		33.3
	PROSPECT TOTAL		6		0		606.9		0.0
WTU FORD PROSPECT, LOS ANGELES COUNTY
714890	WFR+2 15 PUP 1 IPS		1		0		25.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.7
714960	WFORD 11 PRP 1 EXT		1		0		6.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
715030	WFORD 11 PRP 2 EXT		1		0		6.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
714910	WFORD 11 PRP 3 EXT		1		0		6.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
715000	WFORD 12 PUI 1 EXT		0		0		5.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
723960	WFORD 12 PRI 1 EXT		0		0		13.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		33.3
715050	WFORD 12 PRI 2 EXT		0		0		13.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		33.3
713840	WFORD 14 PRP 4 EXT		1		0		6.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
714980	WFORD 14 PRP 5 EXT		1		0		6.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
713860	WFORD 14 PRP 6 EXT		1		0		6.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
723950	WFORD 14 PRP 7 EXT		1		0		6.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
013820	WFORD 14 PSI 1		0		0		322.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.8		33.3
023970	WFORD 14 PSI 2		0		0		322.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.8		33.3
022130	WFORD 14 PSP 1		1		0		143.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023870	WFORD 14 PSP 2		1		0		143.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023880	WFORD 14 PSP 3		1		0		143.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
022170	WFORD 14 PSP 4		1		0		143.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023900	WFORD 14 PSP 5		1		0		143.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023910	WFORD 14 PSP 6		1		0		143.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023920	WFORD 14 PSP 7		1		0		143.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023930	WFORD 14 PSP 8		1		0		142.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
023940	WFORD 14 PSP 9		1		0		142.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.6		33.3
715010	WFORD 15 PRI 3 EXT		0		0		13.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.6		33.3
	PROSPECT TOTAL		17		0		2,050.0		0.0
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
014450	FE WTU POS		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		264.0		264.0		33.3
700474	WTU GAS SALES POS		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		2.702		2.702		7.2		7.2		33.3
000462	WTU FUEL GAS POS		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		33.3
019700	ABAN WTU POS G		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		34.3
	PROSPECT TOTAL		0		0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA
WTU 237 PROSPECT, LOS ANGELES COUNTY
714891	W237 15 PRP 1 IPS		21.6		0.0		0.0		17.5		0.0		0.0		852.0		0.0		0.0		15.0		0.0		0.0		195.9		641.1		151.8
714892	W237 15 PRP 2 IPS		21.6		0.0		0.0		17.5		0.0		0.0		852.0		0.0		0.0		15.0		0.0		0.0		195.9		641.1		151.8
714893	W237 15 PRP 3 IPS		21.6		0.0		0.0		17.5		0.0		0.0		855.7		0.0		0.0		15.0		0.0		0.0		199.6		641.1		150.7
714894	W237 15 PRP 4 IPS		21.6		0.0		0.0		17.5		0.0		0.0		855.7		0.0		0.0		15.0		0.0		0.0		199.6		641.1		150.7
714895	W237 15 PRP 5 IPS		21.6		0.0		0.0		17.5		0.0		0.0		855.7		0.0		0.0		15.0		0.0		0.0		199.6		641.1		150.7
014896	W237 15 PSP 1		101.4		0.0		0.0		82.2		0.0		0.0		4,008.3		0.0		0.0		70.3		1,190.7		0.0		1,164.5		1,582.8		240.1
023971	W237 15 PSI 1		198.9		0.0		0.0		161.2		0.0		0.0		7,862.4		0.0		0.0		138.2		1,140.3		0.0		562.5		6,021.4		961.5
023972	W237 15 PSI 2		198.7		0.0		0.0		161.0		0.0		0.0		7,854.6		0.0		0.0		138.0		1,140.3		0.0		561.9		6,014.4		953.6
	PROSPECT TOTAL		606.9		0.0		0.0		491.9		0.0		0.0		23,996.4		0.0		0.0		421.5		3,471.3		0.0		3,279.5		16,824.1		2,910.9
WTU FORD PROSPECT, LOS ANGELES COUNTY
714890	WFR+2 15 PUP 1 IPS		25.9		0.0		0.0		21.0		0.0		0.0		1,020.3		0.0		0.0		18.1		0.0		0.0		224.2		778.0		256.5
714960	WFORD 11 PRP 1 EXT		6.2		0.0		0.0		5.1		0.0		0.0		246.6		0.0		0.0		4.3		0.0		0.0		191.2		51.1		2.8
715030	WFORD 11 PRP 2 EXT		6.3		0.0		0.0		5.1		0.0		0.0		248.3		0.0		0.0		4.4		0.0		0.0		191.4		52.5		2.9
714910	WFORD 11 PRP 3 EXT		6.3		0.0		0.0		5.1		0.0		0.0		248.3		0.0		0.0		4.4		0.0		0.0		191.4		52.5		2.9
715000	WFORD 12 PUI 1 EXT		5.8		0.0		0.0		4.7		0.0		0.0		228.1		0.0		0.0		4.0		0.0		0.0		16.3		207.8		11.0
723960	WFORD 12 PRI 1 EXT		13.7		0.0		0.0		11.1		0.0		0.0		541.9		0.0		0.0		9.5		0.0		0.0		38.8		493.6		26.1
715050	WFORD 12 PRI 2 EXT		13.7		0.0		0.0		11.1		0.0		0.0		541.9		0.0		0.0		9.5		0.0		0.0		38.8		493.6		26.1
713840	WFORD 14 PRP 4 EXT		6.3		0.0		0.0		5.1		0.0		0.0		250.0		0.0		0.0		4.4		0.0		0.0		191.5		54.1		3.0
714980	WFORD 14 PRP 5 EXT		6.3		0.0		0.0		5.1		0.0		0.0		250.0		0.0		0.0		4.4		0.0		0.0		191.5		54.1		3.0
713860	WFORD 14 PRP 6 EXT		6.4		0.0		0.0		5.2		0.0		0.0		251.8		0.0		0.0		4.5		0.0		0.0		191.6		55.7		3.1
723950	WFORD 14 PRP 7 EXT		6.4		0.0		0.0		5.2		0.0		0.0		251.8		0.0		0.0		4.5		0.0		0.0		191.6		55.7		3.1
013820	WFORD 14 PSI 1		322.4		0.0		0.0		261.3		0.0		0.0		12,745.2		0.0		0.0		224.0		1,090.8		0.0		911.9		10,518.5		2,042.8
023970	WFORD 14 PSI 2		322.4		0.0		0.0		261.3		0.0		0.0		12,745.2		0.0		0.0		224.0		1,090.8		0.0		911.9		10,518.5		2,042.8
022130	WFORD 14 PSP 1		143.4		0.0		0.0		116.2		0.0		0.0		5,670.1		0.0		0.0		99.6		1,141.3		0.0		1,318.8		3,110.4		638.5
023870	WFORD 14 PSP 2		143.3		0.0		0.0		116.1		0.0		0.0		5,665.1		0.0		0.0		99.7		1,141.3		0.0		1,315.3		3,108.8		633.6
023880	WFORD 14 PSP 3		143.3		0.0		0.0		116.1		0.0		0.0		5,665.1		0.0		0.0		99.7		1,141.3		0.0		1,315.3		3,108.8		633.6
022170	WFORD 14 PSP 4		143.2		0.0		0.0		116.0		0.0		0.0		5,660.1		0.0		0.0		99.6		1,141.3		0.0		1,311.7		3,107.5		628.5
023900	WFORD 14 PSP 5		143.2		0.0		0.0		116.0		0.0		0.0		5,660.1		0.0		0.0		99.6		1,141.3		0.0		1,311.7		3,107.5		628.5
023910	WFORD 14 PSP 6		143.0		0.0		0.0		115.9		0.0		0.0		5,654.9		0.0		0.0		99.4		1,141.3		0.0		1,308.1		3,106.1		623.3
023920	WFORD 14 PSP 7		143.0		0.0		0.0		115.9		0.0		0.0		5,654.9		0.0		0.0		99.4		1,141.3		0.0		1,308.1		3,106.1		623.3
023930	WFORD 14 PSP 8		142.9		0.0		0.0		115.8		0.0		0.0		5,649.7		0.0		0.0		99.3		1,141.3		0.0		1,304.4		3,104.7		618.5
023940	WFORD 14 PSP 9		142.9		0.0		0.0		115.8		0.0		0.0		5,649.7		0.0		0.0		99.3		1,141.3		0.0		1,304.4		3,104.7		618.5
715010	WFORD 15 PRI 3 EXT		13.8		0.0		0.0		11.2		0.0		0.0		546.7		0.0		0.0		9.6		0.0		0.0		39.1		498.0		26.4
	PROSPECT TOTAL		2,050.0		0.0		0.0		1,661.5		0.0		0.0		81,045.8		0.0		0.0		1,425.2		12,453.3		0.0		15,319.0		51,848.3		10,098.8
WTU GENERAL PROSPECT, LOS ANGELES COUNTY
014450	FE WTU POS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		14,096.9		-14,096.9		-734.2
700474	WTU GAS SALES POS		0.0		0.0		0.0		0.0		0.0		372.5		0.0		0.0		1,006.7		0.0		0.0		0.0		386.4		620.3		32.3
000462	WTU FUEL GAS POS		0.0		0.0		0.0		0.0		0.0		239.4		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019700	ABAN WTU POS G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		3,634.4		0.0		-3,634.4		514.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		611.9		0.0		0.0		1,006.7		0.0		0.0		3,634.4		14,483.3		-17,111.0		-187.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY
713450	WRGR 11 PRI 01 EXT		0		0		5.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714300	WRGR 11 PRI 02 EXT		0		0		5.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714500	WRGR 11 PRI 03 EXT		0		0		5.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713470	WRGR 11 PRI 04 EXT		0		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713480	WRGR 11 PRI 05 EXT		0		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714660	WRGR 11 PRI 06 EXT		0		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713500	WRGR 12 PRI 07 EXT		0		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713510	WRGR 12 PRI 08 EXT		0		0		5.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713520	WRGR 12 PUI 09 EXT		0		0		3.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723750	WRGR 12 PUI 10 EXT		0		0		3.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723780	WRGR 12 PUI 11 EXT		0		0		3.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723790	WRGR 12 PUI 12 EXT		0		0		3.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713460	WRGR 14 PUI 13 EXT		0		0		4.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714540	WRGR 14 PUI 14 EXT		0		0		4.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714650	WRGR 14 PUI 15 EXT		0		0		4.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713490	WRGR 14 PUI 16 EXT		0		0		4.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714670	WRGR 14 PUI 17 EXT		0		0		4.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714680	WRGR 14 PUI 18 EXT		0		0		4.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
714690	WRGR 14 PUI 19 EXT		0		0		4.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
722240	WRGR 14 PUI 20 EXT		0		0		4.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723760	WRGR 14 PUI 21 EXT		0		0		4.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723800	WRGR 14 PUI 22 EXT		0		0		4.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
722250	WRGR 14 PUI 23 EXT		0		0		4.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723770	WRGR 14 PUI 24 EXT		0		0		4.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
722260	WRGR 14 PUI 25 EXT		0		0		4.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723820	WRGR 14 PUI 26 EXT		0		0		4.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723830	WRGR 14 PUI 27 EXT		0		0		4.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723810	WRGR 14 PUI 28 EXT		0		0		4.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
713420	WRGR 12 PUP 01 EXT		1		0		1.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714700	WRGR 12 PUP 02 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714710	WRGR 12 PUP 03 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714720	WRGR 12 PUP 04 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714730	WRGR 12 PRP 05 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714740	WRGR 12 PRP 06 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714750	WRGR 12 PRP 07 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714760	WRGR 12 PRP 08 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714770	WRGR 12 PRP 09 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714780	WRGR 12 PRP 10 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714790	WRGR 12 PRP 11 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714800	WRGR 12 PRP 12 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714810	WRGR 12 PRP 13 EXT		1		0		1.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714820	WRGR 14 PUP 14 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY
713450	WRGR 11 PRI 01 EXT		5.6		0.0		0.0		4.5		0.0		0.0		220.3		0.0		0.0		3.9		0.0		0.0		15.8		200.6		10.6
714300	WRGR 11 PRI 02 EXT		5.6		0.0		0.0		4.6		0.0		0.0		222.1		0.0		0.0		3.9		0.0		0.0		15.9		202.3		10.7
714500	WRGR 11 PRI 03 EXT		5.6		0.0		0.0		4.6		0.0		0.0		222.1		0.0		0.0		3.9		0.0		0.0		15.9		202.3		10.7
713470	WRGR 11 PRI 04 EXT		5.7		0.0		0.0		4.6		0.0		0.0		223.8		0.0		0.0		3.9		0.0		0.0		16.0		203.9		10.8
713480	WRGR 11 PRI 05 EXT		5.7		0.0		0.0		4.6		0.0		0.0		223.8		0.0		0.0		3.9		0.0		0.0		16.0		203.9		10.8
714660	WRGR 11 PRI 06 EXT		5.7		0.0		0.0		4.6		0.0		0.0		225.6		0.0		0.0		4.0		0.0		0.0		16.1		205.5		10.9
713500	WRGR 12 PRI 07 EXT		5.7		0.0		0.0		4.6		0.0		0.0		225.6		0.0		0.0		4.0		0.0		0.0		16.1		205.5		10.9
713510	WRGR 12 PRI 08 EXT		5.8		0.0		0.0		4.7		0.0		0.0		227.4		0.0		0.0		4.0		0.0		0.0		16.3		207.1		11.0
713520	WRGR 12 PUI 09 EXT		3.8		0.0		0.0		3.1		0.0		0.0		149.9		0.0		0.0		2.6		0.0		0.0		10.7		136.6		7.2
723750	WRGR 12 PUI 10 EXT		3.8		0.0		0.0		3.1		0.0		0.0		151.1		0.0		0.0		2.7		0.0		0.0		10.8		137.6		7.3
723780	WRGR 12 PUI 11 EXT		3.8		0.0		0.0		3.1		0.0		0.0		151.1		0.0		0.0		2.7		0.0		0.0		10.8		137.6		7.3
723790	WRGR 12 PUI 12 EXT		3.9		0.0		0.0		3.1		0.0		0.0		152.3		0.0		0.0		2.7		0.0		0.0		10.9		138.7		7.3
713460	WRGR 14 PUI 13 EXT		4.5		0.0		0.0		3.7		0.0		0.0		179.6		0.0		0.0		3.2		0.0		0.0		12.8		163.6		8.7
714540	WRGR 14 PUI 14 EXT		4.5		0.0		0.0		3.7		0.0		0.0		179.6		0.0		0.0		3.2		0.0		0.0		12.8		163.6		8.7
714650	WRGR 14 PUI 15 EXT		4.6		0.0		0.0		3.7		0.0		0.0		181.0		0.0		0.0		3.2		0.0		0.0		13.0		164.8		8.7
713490	WRGR 14 PUI 16 EXT		4.6		0.0		0.0		3.7		0.0		0.0		181.0		0.0		0.0		3.2		0.0		0.0		13.0		164.8		8.7
714670	WRGR 14 PUI 17 EXT		4.6		0.0		0.0		3.7		0.0		0.0		182.5		0.0		0.0		3.2		0.0		0.0		13.1		166.2		8.8
714680	WRGR 14 PUI 18 EXT		4.6		0.0		0.0		3.7		0.0		0.0		182.5		0.0		0.0		3.2		0.0		0.0		13.1		166.2		8.8
714690	WRGR 14 PUI 19 EXT		4.7		0.0		0.0		3.8		0.0		0.0		183.9		0.0		0.0		3.2		0.0		0.0		13.2		167.5		8.9
722240	WRGR 14 PUI 20 EXT		4.7		0.0		0.0		3.8		0.0		0.0		183.9		0.0		0.0		3.2		0.0		0.0		13.2		167.5		8.9
723760	WRGR 14 PUI 21 EXT		4.7		0.0		0.0		3.8		0.0		0.0		185.4		0.0		0.0		3.2		0.0		0.0		13.3		168.9		8.9
723800	WRGR 14 PUI 22 EXT		4.7		0.0		0.0		3.8		0.0		0.0		185.4		0.0		0.0		3.2		0.0		0.0		13.3		168.9		8.9
722250	WRGR 14 PUI 23 EXT		4.7		0.0		0.0		3.8		0.0		0.0		186.8		0.0		0.0		3.2		0.0		0.0		13.4		170.2		9.0
723770	WRGR 14 PUI 24 EXT		4.7		0.0		0.0		3.8		0.0		0.0		186.8		0.0		0.0		3.2		0.0		0.0		13.4		170.2		9.0
722260	WRGR 14 PUI 25 EXT		4.8		0.0		0.0		3.9		0.0		0.0		188.3		0.0		0.0		3.4		0.0		0.0		13.5		171.4		9.1
723820	WRGR 14 PUI 26 EXT		4.8		0.0		0.0		3.9		0.0		0.0		188.3		0.0		0.0		3.4		0.0		0.0		13.5		171.4		9.1
723830	WRGR 14 PUI 27 EXT		4.8		0.0		0.0		3.9		0.0		0.0		189.8		0.0		0.0		3.4		0.0		0.0		13.6		172.8		9.1
723810	WRGR 14 PUI 28 EXT		4.8		0.0		0.0		3.9		0.0		0.0		189.8		0.0		0.0		3.4		0.0		0.0		13.6		172.8		9.1
713420	WRGR 12 PUP 01 EXT		1.0		0.0		0.0		0.8		0.0		0.0		37.6		0.0		0.0		0.7		0.0		0.0		176.3		-139.4		-7.2
714700	WRGR 12 PUP 02 EXT		0.9		0.0		0.0		0.8		0.0		0.0		37.0		0.0		0.0		0.6		0.0		0.0		176.2		-139.8		-7.3
714710	WRGR 12 PUP 03 EXT		0.9		0.0		0.0		0.8		0.0		0.0		37.0		0.0		0.0		0.6		0.0		0.0		176.2		-139.8		-7.3
714720	WRGR 12 PUP 04 EXT		0.9		0.0		0.0		0.8		0.0		0.0		37.3		0.0		0.0		0.6		0.0		0.0		176.3		-139.6		-7.2
714730	WRGR 12 PRP 05 EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.9		0.0		0.0		1.0		0.0		0.0		177.5		-123.6		-6.4
714740	WRGR 12 PRP 06 EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.9		0.0		0.0		1.0		0.0		0.0		177.5		-123.6		-6.4
714750	WRGR 12 PRP 07 EXT		1.4		0.0		0.0		1.1		0.0		0.0		55.3		0.0		0.0		1.0		0.0		0.0		177.6		-123.3		-6.4
714760	WRGR 12 PRP 08 EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.0		0.0		0.0		1.0		0.0		0.0		177.5		-124.5		-6.4
714770	WRGR 12 PRP 09 EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.4		0.0		0.0		1.0		0.0		0.0		177.5		-124.1		-6.4
714780	WRGR 12 PRP 10 EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.4		0.0		0.0		1.0		0.0		0.0		177.5		-124.1		-6.4
714790	WRGR 12 PRP 11 EXT		1.4		0.0		0.0		1.1		0.0		0.0		53.6		0.0		0.0		1.0		0.0		0.0		177.4		-124.8		-6.5
714800	WRGR 12 PRP 12 EXT		1.4		0.0		0.0		1.1		0.0		0.0		54.0		0.0		0.0		1.0		0.0		0.0		177.5		-124.5		-6.4
714810	WRGR 12 PRP 13 EXT		1.4		0.0		0.0		1.1		0.0		0.0		53.6		0.0		0.0		1.0		0.0		0.0		177.4		-124.8		-6.5
714820	WRGR 14 PUP 14 EXT		1.1		0.0		0.0		0.9		0.0		0.0		45.4		0.0		0.0		0.8		0.0		0.0		176.8		-132.2		-6.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
714830	WRGR 14 PUP 15 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714840	WRGR 14 PUP 16 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714850	WRGR 14 PUP 17 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714860	WRGR 14 PUP 18 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714870	WRGR 14 PUP 19 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714880	WRGR 14 PUP 20 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
713390	WRGR 14 PUP 21 EXT		1		0		1.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
713400	WRGR 14 PUP 22 EXT		1		0		1.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
713410	WRGR 14 PUP 23 EXT		1		0		1.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
714420	WRGR 14 PUP 24 EXT		1		0		1.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
713580	WRGR 14 PUP 25 EXT		1		0		1.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
713590	WRGR 14 PUP 26 EXT		1		0		1.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
713550	WTU 2236 RGR EXT		1		0		4.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		32.3
	PROSPECT TOTAL		27		0		170.9		0.0
WTU TAR PROSPECT, LOS ANGELES COUNTY
722040	WTAR 14 PRP 5 EXT		1		0		3.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.4		33.3
023630	WTAR 14 PSP 1		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.5
022070	WTAR 14 PSP 2		1		0		76.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		28.6
724042	WTARU 15 PRI 1 EXT		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		33.3
724040	WTARU 15 PRP 1 EXT		1		0		6.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
724041	WTARU 15 PRP 2 EXT		1		0		6.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.5		33.3
719980	WTR3 14 PUP 1 EXT		1		0		0.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
723620	WTR3 14 PRI 01 EXT		0		0		7.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722030	WTR3 14 PRI 02 EXT		0		0		7.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
023640	WTR3 14 PSP 01		0		0		0.0		0.0		98.896		98.896		81.050		81.050		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
719981	WTR3 15 PUP 2 EXT		1		0		0.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
719982	WTR3 15 PUP 3 EXT		1		0		0.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
719983	WTR3 15 PUP 4 EXT		1		0		0.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
719984	WTR3 15 PUP 5 EXT		1		0		0.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.3		33.3
723621	WTR3 15 PUI 1 EXT		0		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723622	WTR3 15 PUI 2 EXT		0		0		5.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
723623	WTR3 15 PUI 3 EXT		0		0		5.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.2		33.3
722036	WTR3 15 PRI 03 EXT		0		0		7.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722037	WTR3 15 PRI 04 EXT		0		0		7.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722038	WTR3 15 PRI 05 EXT		0		0		7.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722039	WTR3 15 PRI 06 EXT		0		0		7.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722041	WTR3 15 PRI 07 EXT		0		0		7.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722042	WTR3 15 PRI 08 EXT		0		0		7.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722043	WTR3 15 PRI 09 EXT		0		0		7.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722044	WTR3 15 PRI 10 EXT		0		0		7.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
722045	WTR3 15 PRI 11 EXT		0		0		7.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.3		33.3
022031	WTR3 15 PSI 1		0		0		173.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		0.0		0.5		33.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU RANGER PROSPECT, LOS ANGELES COUNTY (CONTINUED)
714830	WRGR 14 PUP 15 EXT		1.1		0.0		0.0		0.9		0.0		0.0		45.1		0.0		0.0		0.8		0.0		0.0		176.8		-132.5		-6.9
714840	WRGR 14 PUP 16 EXT		1.1		0.0		0.0		0.9		0.0		0.0		45.4		0.0		0.0		0.8		0.0		0.0		176.8		-132.2		-6.9
714850	WRGR 14 PUP 17 EXT		1.1		0.0		0.0		0.9		0.0		0.0		45.4		0.0		0.0		0.8		0.0		0.0		176.8		-132.2		-6.9
714860	WRGR 14 PUP 18 EXT		1.1		0.0		0.0		0.9		0.0		0.0		44.7		0.0		0.0		0.8		0.0		0.0		176.8		-132.9		-6.9
714870	WRGR 14 PUP 19 EXT		1.1		0.0		0.0		0.9		0.0		0.0		45.1		0.0		0.0		0.8		0.0		0.0		176.8		-132.5		-6.9
714880	WRGR 14 PUP 20 EXT		1.1		0.0		0.0		0.9		0.0		0.0		44.4		0.0		0.0		0.8		0.0		0.0		176.8		-133.2		-6.9
713390	WRGR 14 PUP 21 EXT		1.1		0.0		0.0		0.9		0.0		0.0		44.7		0.0		0.0		0.8		0.0		0.0		176.8		-132.9		-6.9
713400	WRGR 14 PUP 22 EXT		1.2		0.0		0.0		1.0		0.0		0.0		48.4		0.0		0.0		0.8		0.0		0.0		177.1		-129.5		-6.7
713410	WRGR 14 PUP 23 EXT		1.2		0.0		0.0		1.0		0.0		0.0		47.6		0.0		0.0		0.8		0.0		0.0		177.0		-130.2		-6.7
714420	WRGR 14 PUP 24 EXT		1.2		0.0		0.0		1.0		0.0		0.0		48.0		0.0		0.0		0.8		0.0		0.0		177.0		-129.8		-6.7
713580	WRGR 14 PUP 25 EXT		1.2		0.0		0.0		1.0		0.0		0.0		48.0		0.0		0.0		0.8		0.0		0.0		177.0		-129.8		-6.7
713590	WRGR 14 PUP 26 EXT		1.2		0.0		0.0		1.0		0.0		0.0		47.6		0.0		0.0		0.8		0.0		0.0		177.0		-130.2		-6.7
713550	WTU 2236 RGR EXT		4.3		0.0		0.0		3.5		0.0		0.0		170.8		0.0		0.0		3.0		0.0		0.0		144.0		23.8		1.4
	PROSPECT TOTAL		170.9		0.0		0.0		138.5		0.0		0.0		6,758.3		0.0		0.0		119.1		0.0		0.0		5,129.0		1,510.2		83.8
WTU TAR PROSPECT, LOS ANGELES COUNTY
722040	WTAR 14 PRP 5 EXT		3.2		0.0		0.0		2.6		0.0		0.0		125.4		0.0		0.0		2.2		0.0		0.0		182.6		-59.4		-3.0
023630	WTAR 14 PSP 1		76.0		0.0		0.0		61.6		0.0		0.0		3,006.6		0.0		0.0		52.9		1,235.2		0.0		922.4		796.1		128.5
022070	WTAR 14 PSP 2		76.0		0.0		0.0		61.6		0.0		0.0		3,006.6		0.0		0.0		52.7		1,235.2		0.0		922.5		796.2		127.6
724042	WTARU 15 PRI 1 EXT		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
724040	WTARU 15 PRP 1 EXT		6.4		0.0		0.0		5.2		0.0		0.0		253.9		0.0		0.0		4.5		0.0		0.0		191.8		57.6		3.2
724041	WTARU 15 PRP 2 EXT		6.5		0.0		0.0		5.2		0.0		0.0		255.7		0.0		0.0		4.5		0.0		0.0		191.9		59.3		3.3
719980	WTR3 14 PUP 1 EXT		0.6		0.0		0.0		0.5		0.0		0.0		25.5		0.0		0.0		0.5		0.0		0.0		175.4		-150.4		-7.8
723620	WTR3 14 PRI 01 EXT		7.3		0.0		0.0		5.9		0.0		0.0		289.6		0.0		0.0		5.1		0.0		0.0		20.7		263.8		14.0
722030	WTR3 14 PRI 02 EXT		7.4		0.0		0.0		6.0		0.0		0.0		292.2		0.0		0.0		5.1		0.0		0.0		20.9		266.2		14.1
023640	WTR3 14 PSP 01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
719981	WTR3 15 PUP 2 EXT		0.6		0.0		0.0		0.5		0.0		0.0		25.1		0.0		0.0		0.5		0.0		0.0		175.4		-150.8		-7.8
719982	WTR3 15 PUP 3 EXT		0.6		0.0		0.0		0.5		0.0		0.0		25.3		0.0		0.0		0.5		0.0		0.0		175.4		-150.6		-7.8
719983	WTR3 15 PUP 4 EXT		0.6		0.0		0.0		0.5		0.0		0.0		24.8		0.0		0.0		0.5		0.0		0.0		175.4		-151.1		-7.9
719984	WTR3 15 PUP 5 EXT		0.6		0.0		0.0		0.5		0.0		0.0		25.0		0.0		0.0		0.5		0.0		0.0		175.4		-150.9		-7.8
723621	WTR3 15 PUI 1 EXT		5.7		0.0		0.0		4.6		0.0		0.0		226.5		0.0		0.0		4.0		0.0		0.0		16.2		206.3		10.9
723622	WTR3 15 PUI 2 EXT		5.7		0.0		0.0		4.6		0.0		0.0		226.5		0.0		0.0		4.0		0.0		0.0		16.2		206.3		10.9
723623	WTR3 15 PUI 3 EXT		5.8		0.0		0.0		4.7		0.0		0.0		228.5		0.0		0.0		4.0		0.0		0.0		16.3		208.2		11.0
722036	WTR3 15 PRI 03 EXT		7.4		0.0		0.0		6.0		0.0		0.0		292.2		0.0		0.0		5.1		0.0		0.0		20.9		266.2		14.1
722037	WTR3 15 PRI 04 EXT		7.5		0.0		0.0		6.0		0.0		0.0		294.7		0.0		0.0		5.2		0.0		0.0		21.1		268.4		14.2
722038	WTR3 15 PRI 05 EXT		7.5		0.0		0.0		6.1		0.0		0.0		297.3		0.0		0.0		5.2		0.0		0.0		21.3		270.8		14.3
722039	WTR3 15 PRI 06 EXT		7.5		0.0		0.0		6.1		0.0		0.0		297.3		0.0		0.0		5.2		0.0		0.0		21.3		270.8		14.3
722041	WTR3 15 PRI 07 EXT		7.6		0.0		0.0		6.1		0.0		0.0		300.0		0.0		0.0		5.3		0.0		0.0		21.5		273.2		14.5
722042	WTR3 15 PRI 08 EXT		7.6		0.0		0.0		6.1		0.0		0.0		300.0		0.0		0.0		5.3		0.0		0.0		21.5		273.2		14.5
722043	WTR3 15 PRI 09 EXT		7.7		0.0		0.0		6.2		0.0		0.0		302.6		0.0		0.0		5.3		0.0		0.0		21.6		275.7		14.6
722044	WTR3 15 PRI 10 EXT		7.3		0.0		0.0		5.9		0.0		0.0		289.6		0.0		0.0		5.1		0.0		0.0		20.7		263.8		14.0
722045	WTR3 15 PRI 11 EXT		7.5		0.0		0.0		6.0		0.0		0.0		294.7		0.0		0.0		5.2		0.0		0.0		21.1		268.4		14.2
022031	WTR3 15 PSI 1		173.2		0.0		0.0		140.4		0.0		0.0		6,848.1		0.0		0.0		120.3		1,213.5		0.0		490.0		5,024.3		787.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS					GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF					EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START			END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
022032	WTR3 15 PSI 2		0		0		173.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		0.0		0.5		33.3
022033	WTR3 15 PSI 3		0		0		173.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		0.0		0.5		33.3
022034	WTR3 15 PSI 4		0		0		173.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		0.0		0.5		33.3
022035	WTR3 15 PSI 5		0		0		172.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		0.0		0.5		33.3
723646	WTR3 15 PRP 01 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723647	WTR3 15 PRP 02 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723648	WTR3 15 PRP 03 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723649	WTR3 15 PRP 04 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723651	WTR3 15 PRP 05 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723652	WTR3 15 PRP 06 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723653	WTR3 15 PRP 07 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723654	WTR3 15 PRP 08 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723655	WTR3 15 PRP 09 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723656	WTR3 15 PRP 10 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723657	WTR3 15 PRP 11 EXT		1		0		0.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
023641	WTR3 15 PSP 2		1		0		25.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
023642	WTR3 15 PSP 3		1		0		25.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
023643	WTR3 15 PSP 4		1		0		25.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
023644	WTR3 15 PSP 5		1		0		25.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
023645	WTR3 15 PSP 6		1		0		25.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.3		33.3
723580	WTU 2146 TARDU EXT		1		0		2.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		9.2		3.5		30.6
705370	WTU 2249 TAR EXT		1		0		2.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		6.5		3.5		30.6
705120	WTU 2498 TAR EXT		1		0		12.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		6.4		3.9		33.3
705210	WTU 2507 TAR EXT		1		0		8.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		7.3		3.6		33.3
704260	WTU 2581 TAR EXT		1		0		2.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		6.7		3.5		31.1
	PROSPECT TOTAL		31		0		1,298.5		0.0
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
708700	WTU 1470 UT EXT		1		0		7.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000	��		0.000		6.0		3.6		33.3
704170	WTU 2127 UT EXT		1		0		0.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		6.2		3.5		29.3
705140	WTU 2229 UT EXT		1		0		4.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		6.0		3.5		32.6
715360	WTU 2230 UT-J EXT		1		0		4.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		8.1		3.5		32.3
715350	WTU 2240 UT-HX EXT		1		0		7.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		9.3		3.6		33.3
705000	WTU 2515 UT EXT		1		0		3.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.5		31.7
016480	WUTH 14 PUP 1 IPS		1		0		67.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3
016660	WUTH 14 PUP 2 IPS		1		0		67.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3
016900	WUTH 14 PUP 3 IPS		1		0		67.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3
024060	WUTH 14 PRP 01 IPS		1		0		90.1		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.7		33.3
024070	WUTH 14 PRP 02 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3
024080	WUTH 14 PRP 03 IPS		1		0		78.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.7		33.3
024090	WUTH 14 PRP 04 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3
024100	WUTH 14 PRP 05 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3
024110	WUTH 14 PRP 06 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000			0.000		3.3		3.6		33.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES							GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS			OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF			M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU TAR PROSPECT, LOS ANGELES COUNTY (CONTINUED)
022032	WTR3 15 PSI 2		173.2		0.0		0.0		140.4		0.0		0.0	��		6,848.1		0.0		0.0		120.3		1,213.5		0.0		490.0		5,024.3		787.0
022033	WTR3 15 PSI 3		173.1		0.0		0.0		140.3		0.0		0.0			6,841.9		0.0		0.0		120.3		1,213.5		0.0		489.4		5,018.7		780.6
022034	WTR3 15 PSI 4		173.1		0.0		0.0		140.3		0.0		0.0			6,841.9		0.0		0.0		120.3		1,213.5		0.0		489.4		5,018.7		780.6
022035	WTR3 15 PSI 5		172.9		0.0		0.0		140.1		0.0		0.0			6,835.5		0.0		0.0		120.3		1,213.5		0.0		489.0		5,012.7		774.1
723646	WTR3 15 PRP 01 EXT		0.9		0.0		0.0		0.7		0.0		0.0			35.3		0.0		0.0		0.6		0.0		0.0		176.1		-141.4		-7.3
723647	WTR3 15 PRP 02 EXT		0.9		0.0		0.0		0.7		0.0		0.0			35.1		0.0		0.0		0.6		0.0		0.0		176.1		-141.6		-7.4
723648	WTR3 15 PRP 03 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.6		0.0		0.0		0.6		0.0		0.0		176.1		-142.1		-7.4
723649	WTR3 15 PRP 04 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.8		0.0		0.0		0.6		0.0		0.0		176.1		-141.9		-7.4
723651	WTR3 15 PRP 05 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.8		0.0		0.0		0.6		0.0		0.0		176.1		-141.9		-7.4
723652	WTR3 15 PRP 06 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.3		0.0		0.0		0.6		0.0		0.0		176.1		-142.4		-7.4
723653	WTR3 15 PRP 07 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.3		0.0		0.0		0.6		0.0		0.0		176.1		-142.4		-7.4
723654	WTR3 15 PRP 08 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.6		0.0		0.0		0.6		0.0		0.0		176.1		-142.1		-7.4
723655	WTR3 15 PRP 09 EXT		0.9		0.0		0.0		0.7		0.0		0.0			34.1		0.0		0.0		0.6		0.0		0.0		176.0		-142.5		-7.4
723656	WTR3 15 PRP 10 EXT		0.9		0.0		0.0		0.7		0.0		0.0			35.1		0.0		0.0		0.6		0.0		0.0		176.1		-141.6		-7.4
723657	WTR3 15 PRP 11 EXT		0.9		0.0		0.0		0.7		0.0		0.0			35.3		0.0		0.0		0.6		0.0		0.0		176.1		-141.4		-7.3
023641	WTR3 15 PSP 2		25.2		0.0		0.0		20.4		0.0		0.0			994.7		0.0		0.0		17.5		1,235.2		0.0		952.1		-1,210.1		-353.3
023642	WTR3 15 PSP 3		25.2		0.0		0.0		20.4		0.0		0.0			994.7		0.0		0.0		17.5		1,235.2		0.0		952.1		-1,210.1		-353.3
023643	WTR3 15 PSP 4		25.2		0.0		0.0		20.4		0.0		0.0			995.5		0.0		0.0		17.6		1,235.2		0.0		955.4		-1,212.7		-356.1
023644	WTR3 15 PSP 5		25.2		0.0		0.0		20.4		0.0		0.0			995.5		0.0		0.0		17.6		1,235.2		0.0		955.4		-1,212.7		-356.1
023645	WTR3 15 PSP 6		25.2		0.0		0.0		20.4		0.0		0.0			995.5		0.0		0.0		17.6		1,235.2		0.0		955.4		-1,212.7		-356.1
723580	WTU 2146 TARDU EXT		2.0		0.0		0.0		1.6		0.0		0.0			79.6		0.0		0.0		1.4		0.0		0.0		73.2		5.0		0.3
705370	WTU 2249 TAR EXT		2.0		0.0		0.0		1.6		0.0		0.0			80.0		0.0		0.0		1.4		0.0		0.0		73.2		5.4		0.3
705120	WTU 2498 TAR EXT		12.0		0.0		0.0		9.8		0.0		0.0			475.8		0.0		0.0		8.4		0.0		0.0		207.6		259.8		13.6
705210	WTU 2507 TAR EXT		8.1		0.0		0.0		6.5		0.0		0.0			319.2		0.0		0.0		5.6		0.0		0.0		196.4		117.2		6.3
704260	WTU 2581 TAR EXT		2.6		0.0		0.0		2.1		0.0		0.0			104.7		0.0		0.0		1.8		0.0		0.0		94.3		8.6		0.5
	PROSPECT TOTAL		1,298.5		0.0		0.0		1,052.5		0.0		0.0			51,338.6		0.0		0.0		902.9		14,713.9		0.0		13,369.4		22,352.4		2,484.3
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY
708700	WTU 1470 UT EXT		7.6		0.0		0.0		6.1		0.0		0.0			298.8		0.0		0.0		5.3		0.0		0.0		195.0		98.5		5.3
704170	WTU 2127 UT EXT		0.5		0.0		0.0		0.4		0.0		0.0			21.7		0.0		0.0		0.3		0.0		0.0		20.9		0.5		0.0
705140	WTU 2229 UT EXT		4.6		0.0		0.0		3.7		0.0		0.0			182.0		0.0		0.0		3.2		0.0		0.0		157.7		21.1		1.2
715360	WTU 2230 UT-J EXT		4.2		0.0		0.0		3.4		0.0		0.0			167.4		0.0		0.0		2.9		0.0		0.0		143.8		20.7		1.2
715350	WTU 2240 UT-HX EXT		7.0		0.0		0.0		5.7		0.0		0.0			276.8		0.0		0.0		4.8		0.0		0.0		193.4		78.6		4.3
705000	WTU 2515 UT EXT		3.4		0.0		0.0		2.8		0.0		0.0			135.2		0.0		0.0		2.4		0.0		0.0		119.0		13.8		0.8
016480	WUTH 14 PUP 1 IPS		67.5		0.0		0.0		54.7		0.0		0.0			2,652.7		0.0		0.0		46.8		0.0		0.0		364.4		2,241.5		871.1
016660	WUTH 14 PUP 2 IPS		67.5		0.0		0.0		54.7		0.0		0.0			2,653.4		0.0		0.0		46.6		0.0		0.0		364.3		2,242.5		864.9
016900	WUTH 14 PUP 3 IPS		67.5		0.0		0.0		54.7		0.0		0.0			2,653.4		0.0		0.0		46.6		0.0		0.0		364.3		2,242.5		864.9
024060	WUTH 14 PRP 01 IPS		90.1		0.0		0.0		73.0		0.0		0.0			3,562.9		0.0		0.0		62.9		0.0		0.0		428.6		3,071.4		864.7
024070	WUTH 14 PRP 02 IPS		67.3		0.0		0.0		54.5		0.0		0.0			2,660.8		0.0		0.0		46.5		0.0		0.0		364.1		2,250.2		652.2
024080	WUTH 14 PRP 03 IPS		78.9		0.0		0.0		64.0		0.0		0.0			3,120.5		0.0		0.0		54.6		0.0		0.0		396.8		2,669.1		711.2
024090	WUTH 14 PRP 04 IPS		67.3		0.0		0.0		54.5		0.0		0.0			2,660.8		0.0		0.0		46.5		0.0		0.0		364.1		2,250.2		652.2
024100	WUTH 14 PRP 05 IPS		67.3		0.0		0.0		54.5		0.0		0.0			2,660.5		0.0		0.0		46.6		0.0		0.0		363.9		2,250.0		647.0
024110	WUTH 14 PRP 06 IPS		67.3		0.0		0.0		54.5		0.0		0.0			2,660.5		0.0		0.0		46.6		0.0		0.0		363.9		2,250.0		647.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M					LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START			END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
024120	WUTH 14 PRP 07 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
024130	WUTH 14 PRP 08 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
024140	WUTH 14 PRP 09 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
024150	WUTH 14 PRP 10 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
024160	WUTH 14 PRP 11 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024170	WUTH 14 PRP 12 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3	��		3.7		33.3
024180	WUTH 14 PRP 13 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024190	WUTH 14 PRP 14 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024200	WUTH 14 PRP 15 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024210	WUTH 14 PRP 16 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024220	WUTH 14 PRP 17 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024230	WUTH 14 PRP 18 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024240	WUTH 14 PRP 19 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024250	WUTH 14 PRP 20 IPS		1		0		67.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024260	WUTH 14 PRP 21 IPS		1		0		67.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
024270	WUTH 14 PRP 22 IPS		1		0		67.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
014310	WUTH 14 PSP 01		1		0		189.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
014320	WUTH 14 PSP 02		1		0		189.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
014330	WUTH 14 PSP 03		1		0		189.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
014340	WUTH 14 PSP 04		1		0		189.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
022570	WUTH 14 PSP 05		1		0		189.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
022580	WUTH 14 PSP 06		1		0		189.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016020	WUTH 14 PSP 07		1		0		189.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016030	WUTH 14 PSP 08		1		0		189.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016040	WUTH 14 PSP 09		1		0		189.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016050	WUTH 14 PSP 10		1		0		189.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016060	WUTH 14 PSP 11		1		0		188.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016070	WUTH 14 PSP 12		1		0		188.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
016080	WUTH 14 PSP 13		1		0		188.8		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
017120	WUTJ 11 PRP 1 IPS		1		0		18.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
018690	WUTJ 11 PRP 2 IPS		1		0		61.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
018850	WUTJ 11 PRP 3 IPS		1		0		18.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
019390	WUTJ 11 PRP 4 IPS		1		0		18.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
021430	WUTJ 11 PRP 5 IPS		1		0		18.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
021450	WUTJ 11 PRP 6 IPS		1		0		18.3		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.6		33.3
016990	WUTJ 11 PRP 7 IPS		1		0		16.6		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
021460	WUTJ 14 PRP 2 IPS		1		0		18.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
021470	WUTJ 14 PRP 3 IPS		1		0		18.9		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
021480	WUTJ 14 PRP 4 IPS		1		0		19.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
021490	WUTJ 14 PRP 5 IPS		1		0		19.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.7		33.3
014220	WUTJ 14 PSP 01		1		0		236.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.8		33.3
014230	WUTJ 14 PSP 02		1		0		236.7		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3			3.8		33.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
024120	WUTH 14 PRP 07 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,660.2		0.0		0.0		46.7		0.0		0.0		363.8		2,249.7		641.8
024130	WUTH 14 PRP 08 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,660.2		0.0		0.0		46.7		0.0		0.0		363.8		2,249.7		641.8
024140	WUTH 14 PRP 09 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.9		0.0		0.0		47.0		0.0		0.0		363.9		2,249.0		636.8
024150	WUTH 14 PRP 10 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.9		0.0		0.0		47.0		0.0		0.0		363.9		2,249.0		636.8
024160	WUTH 14 PRP 11 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.7		0.0		0.0		47.0		0.0		0.0		364.0		2,248.7		631.9
024170	WUTH 14 PRP 12 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.7		0.0		0.0		47.0		0.0		0.0		364.0		2,248.7		631.9
024180	WUTH 14 PRP 13 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.5		0.0		0.0		46.9		0.0		0.0		363.8		2,248.8		626.9
024190	WUTH 14 PRP 14 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.5		0.0		0.0		46.9		0.0		0.0		363.8		2,248.8		626.9
024200	WUTH 14 PRP 15 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.2		0.0		0.0		46.7		0.0		0.0		363.7		2,248.8		622.0
024210	WUTH 14 PRP 16 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.2		0.0		0.0		46.7		0.0		0.0		363.7		2,248.8		622.0
024220	WUTH 14 PRP 17 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.1		0.0		0.0		46.8		0.0		0.0		363.7		2,248.6		617.0
024230	WUTH 14 PRP 18 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,659.1		0.0		0.0		46.8		0.0		0.0		363.7		2,248.6		617.0
024240	WUTH 14 PRP 19 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,658.7		0.0		0.0		46.7		0.0		0.0		363.9		2,248.1		612.2
024250	WUTH 14 PRP 20 IPS		67.3		0.0		0.0		54.5		0.0		0.0		2,658.7		0.0		0.0		46.7		0.0		0.0		363.9		2,248.1		612.2
024260	WUTH 14 PRP 21 IPS		67.2		0.0		0.0		54.5		0.0		0.0		2,658.6		0.0		0.0		46.8		0.0		0.0		363.8		2,248.0		607.4
024270	WUTH 14 PRP 22 IPS		67.2		0.0		0.0		54.5		0.0		0.0		2,658.6		0.0		0.0		46.8		0.0		0.0		363.8		2,248.0		607.4
014310	WUTH 14 PSP 01		189.7		0.0		0.0		153.7		0.0		0.0		7,498.2		0.0		0.0		131.8		1,352.9		0.0		1,475.3		4,538.2		970.7
014320	WUTH 14 PSP 02		189.7		0.0		0.0		153.7		0.0		0.0		7,498.2		0.0		0.0		131.8		1,352.9		0.0		1,475.3		4,538.2		970.7
014330	WUTH 14 PSP 03		189.5		0.0		0.0		153.6		0.0		0.0		7,491.6		0.0		0.0		131.7		1,352.9		0.0		1,471.7		4,535.3		962.8
014340	WUTH 14 PSP 04		189.5		0.0		0.0		153.6		0.0		0.0		7,491.6		0.0		0.0		131.7		1,352.9		0.0		1,471.7		4,535.3		962.8
022570	WUTH 14 PSP 05		189.3		0.0		0.0		153.4		0.0		0.0		7,485.1		0.0		0.0		131.6		1,352.9		0.0		1,468.0		4,532.6		955.0
022580	WUTH 14 PSP 06		189.3		0.0		0.0		153.4		0.0		0.0		7,485.1		0.0		0.0		131.6		1,352.9		0.0		1,468.0		4,532.6		955.0
016020	WUTH 14 PSP 07		189.2		0.0		0.0		153.3		0.0		0.0		7,478.4		0.0		0.0		131.5		1,352.9		0.0		1,464.2		4,529.8		947.4
016030	WUTH 14 PSP 08		189.2		0.0		0.0		153.3		0.0		0.0		7,478.4		0.0		0.0		131.5		1,352.9		0.0		1,464.2		4,529.8		947.4
016040	WUTH 14 PSP 09		189.0		0.0		0.0		153.2		0.0		0.0		7,471.7		0.0		0.0		131.2		1,352.9		0.0		1,460.6		4,527.0		939.9
016050	WUTH 14 PSP 10		189.0		0.0		0.0		153.2		0.0		0.0		7,471.7		0.0		0.0		131.2		1,352.9		0.0		1,460.6		4,527.0		939.9
016060	WUTH 14 PSP 11		188.8		0.0		0.0		153.0		0.0		0.0		7,464.9		0.0		0.0		131.2		1,352.9		0.0		1,456.9		4,523.9		932.2
016070	WUTH 14 PSP 12		188.8		0.0		0.0		153.0		0.0		0.0		7,464.9		0.0		0.0		131.2		1,352.9		0.0		1,456.9		4,523.9		932.2
016080	WUTH 14 PSP 13		188.8		0.0		0.0		153.0		0.0		0.0		7,464.9		0.0		0.0		131.2		1,352.9		0.0		1,456.9		4,523.9		932.2
017120	WUTJ 11 PRP 1 IPS		18.2		0.0		0.0		14.7		0.0		0.0		717.4		0.0		0.0		12.5		0.0		0.0		224.9		480.0		118.4
018690	WUTJ 11 PRP 2 IPS		61.4		0.0		0.0		49.7		0.0		0.0		2,424.4		0.0		0.0		42.8		0.0		0.0		347.1		2,034.5		646.6
018850	WUTJ 11 PRP 3 IPS		18.2		0.0		0.0		14.7		0.0		0.0		717.4		0.0		0.0		12.5		0.0		0.0		224.9		480.0		118.4
019390	WUTJ 11 PRP 4 IPS		18.2		0.0		0.0		14.8		0.0		0.0		719.6		0.0		0.0		12.7		0.0		0.0		224.9		482.0		117.7
021430	WUTJ 11 PRP 5 IPS		18.2		0.0		0.0		14.8		0.0		0.0		719.6		0.0		0.0		12.7		0.0		0.0		224.9		482.0		117.7
021450	WUTJ 11 PRP 6 IPS		18.3		0.0		0.0		14.8		0.0		0.0		721.6		0.0		0.0		12.6		0.0		0.0		225.2		483.8		117.0
016990	WUTJ 11 PRP 7 IPS		16.6		0.0		0.0		13.4		0.0		0.0		655.4		0.0		0.0		11.6		0.0		0.0		220.6		423.2		69.7
021460	WUTJ 14 PRP 2 IPS		18.9		0.0		0.0		15.3		0.0		0.0		747.5		0.0		0.0		13.1		0.0		0.0		227.0		507.4		108.4
021470	WUTJ 14 PRP 3 IPS		18.9		0.0		0.0		15.3		0.0		0.0		747.5		0.0		0.0		13.1		0.0		0.0		227.0		507.4		108.4
021480	WUTJ 14 PRP 4 IPS		19.0		0.0		0.0		15.4		0.0		0.0		749.9		0.0		0.0		13.1		0.0		0.0		227.3		509.5		107.7
021490	WUTJ 14 PRP 5 IPS		19.0		0.0		0.0		15.4		0.0		0.0		749.9		0.0		0.0		13.1		0.0		0.0		227.3		509.5		107.7
014220	WUTJ 14 PSP 01		236.7		0.0		0.0		191.9		0.0		0.0		9,359.8		0.0		0.0		164.6		1,352.9		0.0		1,624.6		6,217.7		1,478.4
014230	WUTJ 14 PSP 02		236.7		0.0		0.0		191.9		0.0		0.0		9,359.8		0.0		0.0		164.6		1,352.9		0.0		1,624.6		6,217.7		1,478.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
014240	WUTJ 14 PSP 03		1		0		236.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
014250	WUTJ 14 PSP 04		1		0		236.5		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
014260	WUTJ 14 PSP 05		1		0		236.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
014270	WUTJ 14 PSP 06		1		0		236.4		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
014280	WUTJ 14 PSP 07		1		0		236.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
022660	WUTJ 14 PSP 08		1		0		236.2		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
023670	WUTJ 14 PSP 09		1		0		236.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
014130	WUTJ 14 PSP 10		1		0		236.0		0.0		98.896		98.896		81.050		81.050		38.420		48.780		0.000		0.000		0.000		0.000		3.3		3.8		33.3
	PROSPECT TOTAL		65		0		6,812.1		0.0
	TOTAL CALIFORNIA		146		0		10,938.4		0.0
	TOTAL ALL LEASES		146		0		10,938.4		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WILMINGTON TOWNLOT UNIT WILMINGTON FIELD, LOS ANGELES COUNTY, CALIFORNIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
CALIFORNIA (CONTINUED)
WTU UPPER TERMINAL PROSPECT, LOS ANGELES COUNTY (CONTINUED)
014240	WUTJ 14 PSP 03		236.5		0.0		0.0		191.7		0.0		0.0		9,352.1		0.0		0.0		164.5		1,352.9		0.0		1,620.7		6,214.0		1,466.4
014250	WUTJ 14 PSP 04		236.5		0.0		0.0		191.7		0.0		0.0		9,352.1		0.0		0.0		164.5		1,352.9		0.0		1,620.7		6,214.0		1,466.4
014260	WUTJ 14 PSP 05		236.4		0.0		0.0		191.6		0.0		0.0		9,344.5		0.0		0.0		164.0		1,352.9		0.0		1,617.1		6,210.5		1,454.7
014270	WUTJ 14 PSP 06		236.4		0.0		0.0		191.6		0.0		0.0		9,344.5		0.0		0.0		164.0		1,352.9		0.0		1,617.1		6,210.5		1,454.7
014280	WUTJ 14 PSP 07		236.2		0.0		0.0		191.4		0.0		0.0		9,336.8		0.0		0.0		164.1		1,352.9		0.0		1,613.2		6,206.6		1,442.9
022660	WUTJ 14 PSP 08		236.2		0.0		0.0		191.4		0.0		0.0		9,336.8		0.0		0.0		164.1		1,352.9		0.0		1,613.2		6,206.6		1,442.9
023670	WUTJ 14 PSP 09		236.0		0.0		0.0		191.2		0.0		0.0		9,329.1		0.0		0.0		163.9		1,352.9		0.0		1,609.5		6,202.8		1,431.4
014130	WUTJ 14 PSP 10		236.0		0.0		0.0		191.2		0.0		0.0		9,329.1		0.0		0.0		163.9		1,352.9		0.0		1,609.5		6,202.8		1,431.4
	PROSPECT TOTAL		6,812.1		0.0		0.0		5,521.2		0.0		0.0		269,276.7		0.0		0.0		4,733.0		31,116.7		0.0		47,847.0		185,580.0		45,413.5
	TOTAL CALIFORNIA		10,938.4		0.0		0.0		8,865.6		0.0		611.9		432,415.8		0.0		1,006.7		7,601.7		61,755.2		3,634.4		99,427.2		261,004.0		60,803.4
	TOTAL ALL LEASES		10,938.4		0.0		0.0		8,865.6		0.0		611.9		432,415.8		0.0		1,006.7		7,601.7		61,755.2		3,634.4		99,427.2		261,004.0		60,803.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		10,812.8		0.0		0.0		6,538.9		0.000		0.000		1.592		0.0		0.0		10,410.9		10,410.9
12-31-2017		0.0		0.0		31,983.4		0.0		0.0		19,683.6		0.000		0.000		2.066		0.0		0.0		40,674.6		40,674.6
12-31-2018		0.0		0.0		38,705.0		0.0		0.0		23,552.7		0.000		0.000		2.231		0.0		0.0		52,542.0		52,542.0
12-31-2019		0.0		0.0		41,772.1		0.0		0.0		24,409.3		0.000		0.000		2.261		0.0		0.0		55,189.4		55,189.4
12-31-2020		0.0		0.0		28,558.9		0.0		0.0		16,778.7		0.000		0.000		2.395		0.0		0.0		40,177.7		40,177.7
12-31-2021		0.0		0.0		21,592.9		0.0		0.0		12,764.4		0.000		0.000		2.568		0.0		0.0		32,774.7		32,774.7
12-31-2022		0.0		0.0		17,564.1		0.0		0.0		10,416.0		0.000		0.000		2.763		0.0		0.0		28,782.7		28,782.7
12-31-2023		0.0		0.0		14,865.6		0.0		0.0		8,832.8		0.000		0.000		2.804		0.0		0.0		24,764.0		24,764.0
12-31-2024		0.0		0.0		12,908.1		0.0		0.0		7,679.6		0.000		0.000		2.813		0.0		0.0		21,601.1		21,601.1
12-31-2025		0.0		0.0		11,414.1		0.0		0.0		6,796.9		0.000		0.000		2.813		0.0		0.0		19,116.2		19,116.2
12-31-2026		0.0		0.0		10,232.1		0.0		0.0		6,097.1		0.000		0.000		2.812		0.0		0.0		17,147.0		17,147.0
12-31-2027		0.0		0.0		9,271.7		0.0		0.0		5,527.5		0.000		0.000		2.812		0.0		0.0		15,544.1		15,544.1
12-31-2028		0.0		0.0		8,474.9		0.0		0.0		5,054.4		0.000		0.000		2.812		0.0		0.0		14,213.7		14,213.7
12-31-2029		0.0		0.0		7,802.1		0.0		0.0		4,654.6		0.000		0.000		2.812		0.0		0.0		13,088.7		13,088.7
12-31-2030		0.0		0.0		7,224.2		0.0		0.0		4,310.8		0.000		0.000		2.812		0.0		0.0		12,121.5		12,121.5
SUBTOTAL		0.0		0.0		273,181.7		0.0		0.0		163,097.3		0.000		0.000		2.441		0.0		0.0		398,148.3		398,148.3
REMAINING		0.0		0.0		71,881.2		0.0		0.0		42,969.6		0.000		0.000		2.811		0.0		0.0		120,803.0		120,803.0
TOTAL		0.0		0.0		345,062.9		0.0		0.0		206,066.9		0.000		0.000		2.518		0.0		0.0		518,951.3		518,951.3
CUM PROD		0.0				189,898.4
ULTIMATE		0.0				534,961.3

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		34		25.5		210.2		0.0		0.0		0.0		7,029.9		3,170.8		3,170.8		3,112.1		8.000		104,888.5
12-31-2017		39		29.5		549.0		0.0		25,849.4		0.0		16,559.2		-2,283.0		887.8		443.1		12.000		79,379.2
12-31-2018		48		36.0		675.8		0.0		49,216.2		0.0		17,212.8		-14,562.8		-13,675.0		-12,024.7		15.000		65,681.7
12-31-2019		51		37.9		998.0		0.0		7,369.2		0.0		17,369.5		29,452.7		15,777.7		10,209.9		20.000		49,248.3
12-31-2020		49		36.5		900.7		0.0		0.0		137.9		15,962.5		23,176.6		38,954.3		26,231.7		25.000		37,893.5
12-31-2021		49		36.5		732.1		0.0		0.0		0.0		13,939.6		18,103.0		57,057.3		37,564.4		30.000		29,706.8
12-31-2022		49		36.5		637.9		0.0		0.0		0.0		8,565.3		19,579.5		76,636.8		48,725.0		35.000		23,609.2
12-31-2023		49		36.5		584.9		0.0		0.0		0.0		7,688.8		16,490.3		93,127.1		57,268.2		40.000		18,957.1
12-31-2024		50		36.9		530.1		0.0		0.0		0.0		7,050.2		14,020.8		107,147.9		63,871.8		45.000		15,331.9
12-31-2025		49		36.5		503.9		0.0		0.0		0.0		6,561.6		12,050.7		119,198.6		69,030.9		50.000		12,457.3
12-31-2026		49		36.5		425.0		0.0		0.0		0.0		6,174.2		10,547.8		129,746.4		73,136.3
12-31-2027		49		36.5		367.2		0.0		0.0		0.0		5,858.5		9,318.4		139,064.8		76,432.9
12-31-2028		49		36.5		276.8		0.0		0.0		0.0		5,596.8		8,340.1		147,404.9		79,114.4
12-31-2029		49		36.5		168.9		0.0		0.0		0.0		5,375.4		7,544.4		154,949.3		81,320.2
12-31-2030		49		36.5		136.8		0.0		0.0		0.0		5,185.3		6,799.4		161,748.7		83,127.1
SUBTOTAL						7,697.3		0.0		82,434.8		137.9		146,129.6		161,748.7		161,748.7		83,127.1
REMAINING						292.4		0.0		0.0		3,652.2		68,916.5		47,941.9		209,690.6		90,862.2
TOTAL OF 42.2 YRS						7,989.7		0.0		82,434.8		3,790.1		215,046.1		209,690.6		209,690.6		90,862.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		10,812.8		0.0		0.0		6,538.9		0.000		0.000		1.592		0.0		0.0		10,410.9		10,410.9
12-31-2017		0.0		0.0		20,705.3		0.0		0.0		12,523.2		0.000		0.000		2.142		0.0		0.0		26,819.4		26,819.4
12-31-2018		0.0		0.0		15,991.8		0.0		0.0		9,671.1		0.000		0.000		2.388		0.0		0.0		23,092.5		23,092.5
12-31-2019		0.0		0.0		12,941.0		0.0		0.0		7,823.4		0.000		0.000		2.447		0.0		0.0		19,145.9		19,145.9
12-31-2020		0.0		0.0		10,851.2		0.0		0.0		6,564.1		0.000		0.000		2.533		0.0		0.0		16,626.2		16,626.2
12-31-2021		0.0		0.0		9,355.1		0.0		0.0		5,656.6		0.000		0.000		2.658		0.0		0.0		15,035.6		15,035.6
12-31-2022		0.0		0.0		8,211.6		0.0		0.0		4,963.0		0.000		0.000		2.808		0.0		0.0		13,936.7		13,936.7
12-31-2023		0.0		0.0		7,309.5		0.0		0.0		4,416.0		0.000		0.000		2.808		0.0		0.0		12,401.6		12,401.6
12-31-2024		0.0		0.0		6,553.5		0.0		0.0		3,955.4		0.000		0.000		2.809		0.0		0.0		11,108.8		11,108.8
12-31-2025		0.0		0.0		5,928.9		0.0		0.0		3,574.8		0.000		0.000		2.809		0.0		0.0		10,040.8		10,040.8
12-31-2026		0.0		0.0		5,428.6		0.0		0.0		3,272.0		0.000		0.000		2.809		0.0		0.0		9,191.2		9,191.2
12-31-2027		0.0		0.0		5,003.4		0.0		0.0		3,014.8		0.000		0.000		2.809		0.0		0.0		8,468.4		8,468.4
12-31-2028		0.0		0.0		4,637.6		0.0		0.0		2,793.5		0.000		0.000		2.809		0.0		0.0		7,847.6		7,847.6
12-31-2029		0.0		0.0		4,318.9		0.0		0.0		2,600.9		0.000		0.000		2.809		0.0		0.0		7,306.4		7,306.4
12-31-2030		0.0		0.0		4,036.7		0.0		0.0		2,430.5		0.000		0.000		2.809		0.0		0.0		6,828.0		6,828.0
SUBTOTAL		0.0		0.0		132,086.0		0.0		0.0		79,798.3		0.000		0.000		2.485		0.0		0.0		198,260.0		198,260.0
REMAINING		0.0		0.0		38,459.6		0.0		0.0		23,182.6		0.000		0.000		2.809		0.0		0.0		65,117.4		65,117.4
TOTAL		0.0		0.0		170,545.6		0.0		0.0		102,980.9		0.000		0.000		2.558		0.0		0.0		263,377.4		263,377.4
CUM PROD		0.0				189,898.4
ULTIMATE		0.0				360,444.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		34		25.5		210.2		0.0		0.0		0.0		7,029.9		3,170.8		3,170.8		3,112.1		8.000		59,293.1
12-31-2017		34		25.5		448.7		0.0		0.0		0.0		15,432.0		10,938.7		14,109.5		13,184.4		12.000		47,817.6
12-31-2018		34		25.5		403.5		0.0		0.0		0.0		14,869.2		7,819.8		21,929.3		19,728.4		15.000		41,763.6
12-31-2019		34		25.5		493.6		0.0		0.0		0.0		14,306.1		4,346.2		26,275.5		23,037.3		20.000		34,612.7
12-31-2020		32		24.2		485.3		0.0		0.0		137.9		13,699.7		2,303.3		28,578.8		24,635.2		25.000		29,732.8
12-31-2021		32		24.2		418.8		0.0		0.0		0.0		11,402.2		3,214.6		31,793.4		26,609.4		30.000		26,225.1
12-31-2022		32		24.2		383.4		0.0		0.0		0.0		4,597.9		8,955.4		40,748.8		31,712.8		35.000		23,595.2
12-31-2023		32		24.2		336.5		0.0		0.0		0.0		4,295.2		7,769.9		48,518.7		35,737.1		40.000		21,558.1
12-31-2024		32		24.2		277.3		0.0		0.0		0.0		4,007.1		6,824.4		55,343.1		38,950.3		45.000		19,933.7
12-31-2025		31		23.3		246.8		0.0		0.0		86.2		3,763.7		5,944.1		61,287.2		41,494.3		50.000		18,605.7
12-31-2026		31		23.3		176.6		0.0		0.0		0.0		3,596.1		5,418.5		66,705.7		43,602.8
12-31-2027		31		23.3		140.9		0.0		0.0		0.0		3,453.6		4,873.9		71,579.6		45,326.8
12-31-2028		31		23.3		93.6		0.0		0.0		0.0		3,331.4		4,422.6		76,002.2		46,748.6
12-31-2029		31		23.3		38.3		0.0		0.0		0.0		3,224.8		4,043.3		80,045.5		47,930.7
12-31-2030		31		23.3		12.1		0.0		0.0		0.0		3,130.5		3,685.4		83,730.9		48,909.9
SUBTOTAL						4,165.6		0.0		0.0		224.1		110,139.4		83,730.9		83,730.9		48,909.9
REMAINING						0.0		0.0		0.0		2,329.7		38,420.7		24,367.0		108,097.9		52,952.9
TOTAL OF 42.2 YRS						4,165.6		0.0		0.0		2,553.8		148,560.1		108,097.9		108,097.9		52,952.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000314	JHNSTN 1 1H		0		1		0.0		22,778.9		86.150		86.150		70.129		70.129		0.000		0.000		0.000		0.000		1.518		2.515		15.5		8.2		36.5
000315	MACIALK 1 1H		0		1		0.0		13,397.1		70.980		70.980		56.880		56.880		0.000		0.000		0.000		0.000		1.518		2.515		16.0		8.2		36.0
000351	MACIALK 1 RL UM 1H		0		1		0.0		2,575.0		86.215		86.215		69.776		69.776		0.000		0.000		0.000		0.000		1.518		2.515		8.7		8.2		17.4
000316	MCCNNLL 1 2H		0		1		0.0		575.7		86.202		86.202		68.903		68.903		0.000		0.000		0.000		0.000		1.518		2.155		7.2		6.9		2.5
000317	MCCNNLL 1 FRNCS 1H		0		1		0.0		9,168.8		80.662		80.662		65.044		65.044		0.000		0.000		0.000		0.000		1.518		2.515		12.7		8.2		33.6
000323	MRBLI 1 1H		0		1		0.0		12,241.0		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		12.7		8.2		24.7
000324	MRBLI 1 2H		0		1		0.0		10,216.4		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		14.5		8.2		26.0
000325	MRBLI 1 KST 2H		0		1		0.0		12,118.7		86.247		86.247		68.289		68.289		0.000		0.000		0.000		0.000		1.518		2.515		13.6		8.2		30.3
000326	MRBLI 1 LSCO 1H		0		1		0.0		14,486.0		86.182		86.182		69.001		69.001		0.000		0.000		0.000		0.000		1.518		2.515		17.6		8.2		33.3
000465	MRBLI UM 11H		0		1		0.0		3,248.4		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		11.7		8.2		15.5
000327	MTCKS 1 1H		0		1		0.0		7,373.5		61.398		61.398		49.252		49.252		0.000		0.000		0.000		0.000		1.518		2.515		11.1		8.2		27.9
000328	MTCKS 1 AYR 1H		0		1		0.0		7,812.4		48.888		48.888		39.086		39.086		0.000		0.000		0.000		0.000		1.518		2.515		10.7		8.2		26.2
000329	MTCKS 1 BNT 1H		0		1		0.0		10,948.3		67.412		67.412		54.120		54.120		0.000		0.000		0.000		0.000		1.518		2.515		12.8		8.2		30.4
000331	MTCKS 1 CK 1H		0		1		0.0		5,837.1		72.328		72.328		58.558		58.558		0.000		0.000		0.000		0.000		1.518		2.515		10.1		8.2		24.9
000332	P&G 1 1H		0		1		0.0		10,952.9		86.150		86.150		68.059		68.059		0.000		0.000		0.000		0.000		1.518		2.515		11.8		8.2		24.1
000333	P&G 2 1H		0		1		0.0		9,788.1		51.690		51.690		40.491		40.491		0.000		0.000		0.000		0.000		1.518		2.515		10.9		8.2		20.3
000334	P&G 2 RK S 1H		0		1		0.0		6,590.9		86.192		86.192		69.433		69.433		0.000		0.000		0.000		0.000		1.518		2.515		8.0		8.4		7.9
000335	P&G 3 1H		0		1		0.0		10,236.8		51.690		51.690		40.512		40.512		0.000		0.000		0.000		0.000		1.518		2.515		8.4		8.2		20.0
000336	P&G 3 2H		0		1		0.0		8,438.7		51.690		51.690		40.512		40.512		0.000		0.000		0.000		0.000		1.518		2.515		11.5		8.2		23.7
000337	P&G 4 1H		0		1		0.0		2,637.0		51.690		51.690		40.495		40.495		0.000		0.000		0.000		0.000		1.518		2.155		7.9		6.9	��	3.1
000362	P&G 4 P&G 1 3H		0		1		0.0		8,186.7		86.150		86.150		68.059		68.059		0.000		0.000		0.000		0.000		1.518		2.515		15.6		8.2		30.2
000363	P&G 4 P&G 3 3H		0		1		0.0		10,878.6		51.690		51.690		40.512		40.512		0.000		0.000		0.000		0.000		1.518		2.515		18.5		8.2		32.2
000338	P&G 5 NRDNI 1H		0		1		0.0		11,753.7		73.530		73.530		58.507		58.507		0.000		0.000		0.000		0.000		1.518		2.515		14.4		8.2		34.4
000339	P&G 5 PRVST 1H		0		1		0.0		11,850.5		82.003		82.003		65.578		65.578		0.000		0.000		0.000		0.000		1.518		2.515		16.0		8.2		35.0
000341	P&G 5 RURK 4H		0		1		0.0		9,862.9		83.354		83.354		67.162		67.162		0.000		0.000		0.000		0.000		1.518		2.515		15.2		8.2		30.6
000342	P&G WH 1 1H		0		1		0.0		14,634.4		69.425		69.425		55.717		55.717		0.000		0.000		0.000		0.000		1.518		2.515		13.0		8.2		33.3
000343	P&G WH 1 LASCO 2H		0		1		0.0		16,154.1		86.182		86.182		69.001		69.001		0.000		0.000		0.000		0.000		1.518		2.515		14.5		8.2		29.7
000344	P&G WH 1 MC 3H		0		1		0.0		12,659.4		86.169		86.169		69.410		69.410		0.000		0.000		0.000		0.000		1.518		2.515		12.4		8.2		30.1
000345	RMLR 1 1H		0		1		0.0		24,168.9		57.081		57.081		45.865		45.865		0.000		0.000		0.000		0.000		1.518		2.515		26.1		8.2		42.2
000346	RMLR 1 MNNG 1H		0		1		0.0		11,723.1		86.320		86.320		68.599		68.599		0.000		0.000		0.000		0.000		1.518		2.515		14.9		8.2		29.3
000347	RMLR 1 RYNLDS 1H		0		1		0.0		16,381.8		85.176		85.176		68.206		68.206		0.000		0.000		0.000		0.000		1.518		2.515		18.6		8.2		32.3
000348	RURK E 1 1H		0		1		0.0		15,562.2		86.192		86.192		69.433		69.433		0.000		0.000		0.000		0.000		1.518		2.515		14.7		8.2		27.2
000349	RURK E 1 RURK S 2H		0		1		0.0		9,244.7		86.192		86.192		69.433		69.433		0.000		0.000		0.000		0.000		1.518		2.515		11.1		8.2		28.5
000466	RURK UM 11H		0		1		0.0		5,961.4		86.192		86.192		69.433		69.433		0.000		0.000		0.000		0.000		1.518		2.515		15.6		8.2		23.2
	PROSPECT TOTAL		0		34		0.0		360,444.0
PIPELINE PROSPECT, WYOMING COUNTY
010001	P&G REVENUE PDP G		0		0		0.0		0.0		73.887		73.887		59.059		59.059		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		42.2
000369	REGENCY 55		0		0		0.0		0.0		100.000		100.000		100.000		100.000		0.000		0.000		0.000		0.000		0.000		0.000		95.4		42.8		3.2
000437	REGENCY FIXED		0		0		0.0		0.0		73.887		73.887		73.887		73.887		0.000		0.000		0.000		0.000		0.000		0.000		92.0		92.0		0.4
000371	UGI FIXED		0		0		0.0		0.0		73.887		73.887		73.887		73.887		0.000		0.000		0.000		0.000		0.000		0.000		1,241.0		1,241.0		5.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000314	JHNSTN 1 1H		0.0		0.0		8,140.7		0.0		0.0		5,709.0		0.0		0.0		13,241.9		126.8		0.0		86.2		4,534.0		8,494.9		4,788.8
000315	MACIALK 1 1H		0.0		0.0		8,191.1		0.0		0.0		4,659.1		0.0		0.0		10,780.6		125.0		0.0		71.0		3,701.4		6,883.2		3,938.2
000351	MACIALK 1 RL UM 1H		0.0		0.0		1,803.9		0.0		0.0		1,258.7		0.0		0.0		2,874.1		174.5		0.0		86.2		1,577.9		1,035.5		766.0
000316	MCCNNLL 1 2H		0.0		0.0		191.9		0.0		0.0		132.2		0.0		0.0		253.8		32.8		0.0		86.2		182.2		-47.4		-27.0
000317	MCCNNLL 1 FRNCS 1H		0.0		0.0		6,287.2		0.0		0.0		4,089.5		0.0		0.0		9,535.9		141.6		0.0		80.7		3,647.9		5,665.7		3,187.4
000323	MRBLI 1 1H		0.0		0.0		4,006.2		0.0		0.0		2,528.3		0.0		0.0		5,735.4		99.9		0.0		78.7		2,345.7		3,211.1		2,157.8
000324	MRBLI 1 2H		0.0		0.0		4,656.4		0.0		0.0		2,938.7		0.0		0.0		6,633.8		150.0		0.0		78.7		2,548.5		3,856.6		2,600.7
000325	MRBLI 1 KST 2H		0.0		0.0		5,678.4		0.0		0.0		3,877.7		0.0		0.0		8,922.2		109.5		0.0		86.2		3,426.0		5,300.5		3,241.3
000326	MRBLI 1 LSCO 1H		0.0		0.0		7,516.4		0.0		0.0		5,186.4		0.0		0.0		11,842.0		164.4		0.0		86.2		4,036.5		7,554.9		4,632.8
000465	MRBLI UM 11H		0.0		0.0		2,105.8		0.0		0.0		1,329.0		0.0		0.0		2,910.5		199.9		0.0		78.7		1,314.9		1,317.0		1,066.9
000327	MTCKS 1 1H		0.0		0.0		4,269.9		0.0		0.0		2,103.0		0.0		0.0		4,876.0		101.7		0.0		61.4		2,103.3		2,609.6		1,585.9
000328	MTCKS 1 AYR 1H		0.0		0.0		3,792.6		0.0		0.0		1,482.4		0.0		0.0		3,427.7		80.8		0.0		48.9		1,531.1		1,766.9		1,105.3
000329	MTCKS 1 BNT 1H		0.0		0.0		5,332.0		0.0		0.0		2,885.7		0.0		0.0		6,669.7		110.4		0.0		67.4		2,643.1		3,848.8		2,308.7
000331	MTCKS 1 CK 1H		0.0		0.0		3,340.3		0.0		0.0		1,956.0		0.0		0.0		4,526.9		119.7		0.0		72.3		2,098.9		2,236.0		1,412.3
000332	P&G 1 1H		0.0		0.0		3,936.0		0.0		0.0		2,678.8		0.0		0.0		6,102.8		109.5		0.0		86.2		2,521.3		3,385.8		2,261.1
000333	P&G 2 1H		0.0		0.0		2,869.8		0.0		0.0		1,162.0		0.0		0.0		2,624.7		65.7		0.0		51.7		1,193.6		1,313.7		935.1
000334	P&G 2 RK S 1H		0.0		0.0		765.1		0.0		0.0		531.2		0.0		0.0		1,141.7		96.5		0.0		86.2		642.2		316.8		288.6
000335	P&G 3 1H		0.0		0.0		2,152.1		0.0		0.0		871.9		0.0		0.0		2,024.2		65.7		0.0		51.7		1,123.1		783.7		521.3
000336	P&G 3 2H		0.0		0.0		3,613.4		0.0		0.0		1,463.9		0.0		0.0		3,337.6		65.7		0.0		51.7		1,455.5		1,764.7		1,183.6
000337	P&G 4 1H		0.0		0.0		315.9		0.0		0.0		127.9		0.0		0.0		246.2		25.8		0.0		51.7		138.9		29.8		39.0
000362	P&G 4 P&G 1 3H		0.0		0.0		6,057.7		0.0		0.0		4,122.8		0.0		0.0		9,399.1		204.7		0.0		86.2		3,456.5		5,651.7		3,571.7
000363	P&G 4 P&G 3 3H		0.0		0.0		7,080.9		0.0		0.0		2,868.6		0.0		0.0		6,520.2		122.9		0.0		51.7		2,298.0		4,047.6		2,534.6
000338	P&G 5 NRDNI 1H		0.0		0.0		7,087.1		0.0		0.0		4,146.4		0.0		0.0		9,620.6		128.0		0.0		73.5		3,523.4		5,895.7		3,366.7
000339	P&G 5 PRVST 1H		0.0		0.0		7,616.1		0.0		0.0		4,994.5		0.0		0.0		11,531.5		168.7		0.0		82.0		4,062.1		7,218.7		4,183.7
000341	P&G 5 RURK 4H		0.0		0.0		6,044.2		0.0		0.0		4,059.5		0.0		0.0		9,273.6		171.5		0.0		83.4		3,379.1		5,639.6		3,527.6
000342	P&G WH 1 1H		0.0		0.0		6,386.6		0.0		0.0		3,558.4		0.0		0.0		8,275.1		102.4		0.0		69.4		3,124.0		4,979.3		2,847.9
000343	P&G WH 1 LASCO 2H		0.0		0.0		6,005.5		0.0		0.0		4,143.8		0.0		0.0		9,469.1		126.8		0.0		86.2		3,418.1		5,838.0		3,680.8
000344	P&G WH 1 MC 3H		0.0		0.0		5,234.6		0.0		0.0		3,633.3		0.0		0.0		8,402.3		126.8		0.0		86.2		3,327.9		4,861.4		2,922.9
000345	RMLR 1 1H		0.0		0.0		13,581.1		0.0		0.0		6,228.9		0.0		0.0		14,271.9		102.5		0.0		57.1		4,084.4		10,027.9		5,736.8
000346	RMLR 1 MNNG 1H		0.0		0.0		5,661.8		0.0		0.0		3,884.0		0.0		0.0		8,851.1		154.7		0.0		86.3		3,302.1		5,308.0		3,386.1
000347	RMLR 1 RYNLDS 1H		0.0		0.0		7,314.8		0.0		0.0		4,989.1		0.0		0.0		11,320.6		152.6		0.0		85.2		3,829.8		7,253.0		4,572.4
000348	RURK E 1 1H		0.0		0.0		4,983.0		0.0		0.0		3,459.8		0.0		0.0		7,833.0		109.5		0.0		86.2		2,960.7		4,676.6		3,086.6
000349	RURK E 1 RURK S 2H		0.0		0.0		4,417.2		0.0		0.0		3,067.0		0.0		0.0		7,121.3		109.5		0.0		86.2		3,037.0		3,888.6		2,328.6
000466	RURK UM 11H		0.0		0.0		4,109.5		0.0		0.0		2,853.3		0.0		0.0		6,336.8		219.1		0.0		86.2		2,416.1		3,615.4		2,601.9
	PROSPECT TOTAL		0.0		0.0		170,545.6		0.0		0.0		102,980.9		0.0		0.0		235,933.9		4,165.6		0.0		2,553.8		88,985.2		140,229.3		86,342.1
PIPELINE PROSPECT, WYOMING COUNTY
010001	P&G REVENUE PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		27,443.5		0.0		0.0		0.0		0.0		27,443.5		13,937.8
000369	REGENCY 55		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		2,384.6		-2,384.6		-2,100.5
000437	REGENCY FIXED		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		339.9		-339.9		-333.2
000371	UGI FIXED		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		56,850.4		-56,850.4		-44,893.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

ACTIVE

GROSS ULTIMATE

WORKING

REVENUE

OIL

NGL

GAS

GROSS OPERATING

LEASE

COMPLTNS

OIL

GAS

INTEREST

INTEREST

$/BBL

$/BBL

$/MCF

EXPENSE M$/M

LIFE

NUMBER

LEASE NAME

OIL

GAS

MBBL

MMCF

START

END

START

END

START

END

START

END

START

END

START

END

YRS

PENNSYLVANIA (CONTINUED)

PIPELINE PROSPECT, WYOMING COUNTY (CONTINUED)

PROSPECT TOTAL

0

0

0.0

0.0

TOTAL PENNSYLVANIA

0

34

0.0

360,444.0

TOTAL ALL LEASES

0

34

0.0

360,444.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$		TAXES M$		COST M$		COST M$		EXPENSE M$		REVENUE M$		10.000% M$
PENNSYLVANIA (CONTINUED)
PIPELINE PROSPECT, WYOMING COUNTY (CONTINUED)
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		27,443.5		0.0		0.0		0.0		59,574.9		-32,131.4		-33,389.2
	TOTAL PENNSYLVANIA		0.0		0.0		170,545.6		0.0		0.0		102,980.9		0.0		0.0		263,377.4		4,165.6		0.0		2,553.8		148,560.1		108,097.9		52,952.9
	TOTAL ALL LEASES		0.0		0.0		170,545.6		0.0		0.0		102,980.9		0.0		0.0		263,377.4		4,165.6		0.0		2,553.8		148,560.1		108,097.9		52,952.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING M-D-Y	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		971.8		0.0		0.0		491.8		0.000		0.000		1.935		0.0		0.0		951.6		951.6
12-31-2018		0.0		0.0		650.5		0.0		0.0		343.3		0.000		0.000		2.141		0.0		0.0		734.8		734.8
12-31-2019		0.0		0.0		446.0		0.0		0.0		242.9		0.000		0.000		2.450		0.0		0.0		595.1		595.1
12-31-2020		0.0		0.0		330.1		0.0		0.0		184.4		0.000		0.000		2.557		0.0		0.0		471.6		471.6
12-31-2021		0.0		0.0		256.7		0.0		0.0		146.6		0.000		0.000		2.675		0.0		0.0		392.2		392.2
12-31-2022		0.0		0.0		206.8		0.0		0.0		120.3		0.000		0.000		2.819		0.0		0.0		339.3		339.3
12-31-2023		0.0		0.0		171.0		0.0		0.0		101.2		0.000		0.000		2.814		0.0		0.0		284.8		284.8
12-31-2024		0.0		0.0		171.0		0.0		0.0		105.3		0.000		0.000		2.803		0.0		0.0		295.2		295.2
12-31-2025		0.0		0.0		173.7		0.0		0.0		110.2		0.000		0.000		2.794		0.0		0.0		308.0		308.0
12-31-2026		0.0		0.0		153.6		0.0		0.0		98.5		0.000		0.000		2.791		0.0		0.0		274.8		274.8
12-31-2027		0.0		0.0		137.2		0.0		0.0		88.8		0.000		0.000		2.789		0.0		0.0		247.7		247.7
12-31-2028		0.0		0.0		123.8		0.0		0.0		80.8		0.000		0.000		2.787		0.0		0.0		225.0		225.0
12-31-2029		0.0		0.0		112.8		0.0		0.0		74.1		0.000		0.000		2.785		0.0		0.0		206.4		206.4
12-31-2030		0.0		0.0		103.7		0.0		0.0		68.4		0.000		0.000		2.783		0.0		0.0		190.5		190.5
SUBTOTAL		0.0		0.0		4,008.5		0.0		0.0		2,256.7		0.000		0.000		2.445		0.0		0.0		5,517.0		5,517.0
REMAINING		0.0		0.0		800.2		0.0		0.0		509.6		0.000		0.000		2.793		0.0		0.0		1,423.4		1,423.4
TOTAL		0.0		0.0		4,808.7		0.0		0.0		2,766.3		0.000		0.000		2.509		0.0		0.0		6,940.4		6,940.4
CUM PROD		0.0				0.0
ULTIMATE		0.0				4,808.7

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		2,956.5
12-31-2017		0		0.0		0.0		0.0		396.4		0.0		63.8		491.4		491.4		434.2		12.000		2,515.4
12-31-2018		0		0.0		0.0		0.0		0.0		0.0		44.5		690.3		1,181.7		1,010.9		15.000		2,258.2
12-31-2019		0		0.0		0.0		0.0		0.0		0.0		31.4		563.7		1,745.4		1,438.8		20.000		1,924.3
12-31-2020		0		0.0		0.0		0.0		0.0		0.0		23.8		447.8		2,193.2		1,747.9		25.000		1,672.0
12-31-2021		0		0.0		0.0		0.0		0.0		0.0		33.3		358.9		2,552.1		1,973.3		30.000		1,475.7
12-31-2022		0		0.0		0.0		0.0		0.0		0.0		66.7		272.6		2,824.7		2,128.7		35.000		1,317.2
12-31-2023		0		0.0		0.0		0.0		0.0		0.0		56.0		228.8		3,053.5		2,247.2		40.000		1,188.1
12-31-2024		1		0.4		4.4		0.0		0.0		0.0		91.2		199.6		3,253.1		2,341.1		45.000		1,080.0
12-31-2025		1		0.9		8.7		0.0		0.0		-86.2		126.9		258.6		3,511.7		2,451.9		50.000		987.9
12-31-2026		1		0.9		0.0		0.0		0.0		0.0		120.5		154.3		3,666.0		2,512.0
12-31-2027		1		0.9		0.0		0.0		0.0		0.0		115.1		132.6		3,798.6		2,558.9
12-31-2028		1		0.9		0.0		0.0		0.0		0.0		110.6		114.4		3,913.0		2,595.7
12-31-2029		1		0.9		0.0		0.0		0.0		0.0		106.9		99.5		4,012.5		2,624.8
12-31-2030		1		0.9		0.0		0.0		0.0		0.0		103.8		86.7		4,099.2		2,647.9
SUBTOTAL						13.1		0.0		396.4		-86.2		1,094.5		4,099.2		4,099.2		2,647.9
REMAINING						0.0		0.0		0.0		86.2		1,002.3		334.9		4,434.1		2,719.2
TOTAL OF 42.2 YRS						13.1		0.0		396.4		0.0		2,096.8		4,434.1		4,434.1		2,719.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000476	P&G 2 RK S 1H IPNP		0		1		0.0		2,829.0		86.192		86.192		69.433		69.433		0.000		0.000		0.000		0.000		1.518		2.515		8.0		8.2		24.1
000478	P&G 3 1H IPNP		0		1		0.0		1,979.7		51.690		51.690		40.512		40.512		0.000		0.000		0.000		0.000		1.518		2.515		8.4		8.2		22.1
	PROSPECT TOTAL		0		2		0.0		4,808.7
PIPELINE PROSPECT, WYOMING COUNTY
010002	P&G REVENUE PNP G		0		0		0.0		0.0		73.887		73.887		59.059		59.059		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		42.2
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL PENNSYLVANIA		0		2		0.0		4,808.7
	TOTAL ALL LEASES		0		2		0.0		4,808.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000476	P&G 2 RK S 1H IPNP		0.0		0.0		2,829.0		0.0		0.0		1,964.3		0.0		0.0		4,625.4		13.1		215.5		0.0		1,820.8		2,576.0		1,542.1
000478	P&G 3 1H IPNP		0.0		0.0		1,979.7		0.0		0.0		802.0		0.0		0.0		1,751.1		0.0		180.9		0.0		276.0		1,294.2		923.7
	PROSPECT TOTAL		0.0		0.0		4,808.7		0.0		0.0		2,766.3		0.0		0.0		6,376.5		13.1		396.4		0.0		2,096.8		3,870.2		2,465.8
PIPELINE PROSPECT, WYOMING COUNTY
010002	P&G REVENUE PNP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		563.9		0.0		0.0		0.0		0.0		563.9		253.4
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		563.9		0.0		0.0		0.0		0.0		563.9		253.4
	TOTAL PENNSYLVANIA		0.0		0.0		4,808.7		0.0		0.0		2,766.3		0.0		0.0		6,940.4		13.1		396.4		0.0		2,096.8		4,434.1		2,719.2
	TOTAL ALL LEASES		0.0		0.0		4,808.7		0.0		0.0		2,766.3		0.0		0.0		6,940.4		13.1		396.4		0.0		2,096.8		4,434.1		2,719.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		10,306.3		0.0		0.0		6,668.6		0.000		0.000		1.935		0.0		0.0		12,903.6		12,903.6
12-31-2018		0.0		0.0		22,062.6		0.0		0.0		13,538.3		0.000		0.000		2.121		0.0		0.0		28,714.7		28,714.7
12-31-2019		0.0		0.0		28,385.0		0.0		0.0		16,343.0		0.000		0.000		2.169		0.0		0.0		35,448.4		35,448.4
12-31-2020		0.0		0.0		17,377.6		0.0		0.0		10,030.2		0.000		0.000		2.301		0.0		0.0		23,079.9		23,079.9
12-31-2021		0.0		0.0		11,981.1		0.0		0.0		6,961.2		0.000		0.000		2.492		0.0		0.0		17,346.9		17,346.9
12-31-2022		0.0		0.0		9,145.8		0.0		0.0		5,332.6		0.000		0.000		2.720		0.0		0.0		14,506.7		14,506.7
12-31-2023		0.0		0.0		7,385.1		0.0		0.0		4,315.5		0.000		0.000		2.799		0.0		0.0		12,077.6		12,077.6
12-31-2024		0.0		0.0		6,183.6		0.0		0.0		3,618.9		0.000		0.000		2.818		0.0		0.0		10,197.1		10,197.1
12-31-2025		0.0		0.0		5,311.5		0.0		0.0		3,111.9		0.000		0.000		2.817		0.0		0.0		8,767.4		8,767.4
12-31-2026		0.0		0.0		4,649.9		0.0		0.0		2,726.6		0.000		0.000		2.817		0.0		0.0		7,681.0		7,681.0
12-31-2027		0.0		0.0		4,131.0		0.0		0.0		2,423.9		0.000		0.000		2.817		0.0		0.0		6,828.0		6,828.0
12-31-2028		0.0		0.0		3,713.5		0.0		0.0		2,180.1		0.000		0.000		2.817		0.0		0.0		6,141.1		6,141.1
12-31-2029		0.0		0.0		3,370.5		0.0		0.0		1,979.6		0.000		0.000		2.817		0.0		0.0		5,575.9		5,575.9
12-31-2030		0.0		0.0		3,083.7		0.0		0.0		1,811.8		0.000		0.000		2.817		0.0		0.0		5,103.0		5,103.0
SUBTOTAL		0.0		0.0		137,087.2		0.0		0.0		81,042.3		0.000		0.000		2.398		0.0		0.0		194,371.3		194,371.3
REMAINING		0.0		0.0		32,621.4		0.0		0.0		19,277.4		0.000		0.000		2.815		0.0		0.0		54,262.2		54,262.2
TOTAL		0.0		0.0		169,708.6		0.0		0.0		100,319.7		0.000		0.000		2.478		0.0		0.0		248,633.5		248,633.5
CUM PROD		0.0				0.0
ULTIMATE		0.0				169,708.6

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		42,638.9
12-31-2017		5		4.0		100.3		0.0		25,453.0		0.0		1,063.4		-13,713.1		-13,713.1		-13,175.5		12.000		29,046.2
12-31-2018		14		10.5		272.3		0.0		49,216.2		0.0		2,299.1		-23,072.9		-36,786.0		-32,764.0		15.000		21,659.9
12-31-2019		17		12.4		504.4		0.0		7,369.2		0.0		3,032.0		24,542.8		-12,243.2		-14,266.2		20.000		12,711.3
12-31-2020		17		12.4		415.4		0.0		0.0		0.0		2,239.0		20,425.5		8,182.3		-151.4		25.000		6,488.7
12-31-2021		17		12.4		313.3		0.0		0.0		0.0		2,504.1		14,529.5		22,711.8		8,981.7		30.000		2,006.0
12-31-2022		17		12.4		254.5		0.0		0.0		0.0		3,900.7		10,351.5		33,063.3		14,883.5		35.000		-1,303.2
12-31-2023		17		12.4		248.4		0.0		0.0		0.0		3,337.6		8,491.6		41,554.9		19,283.9		40.000		-3,789.1
12-31-2024		17		12.4		248.4		0.0		0.0		0.0		2,951.9		6,996.8		48,551.7		22,580.4		45.000		-5,681.8
12-31-2025		17		12.4		248.4		0.0		0.0		0.0		2,671.0		5,848.0		54,399.7		25,084.7		50.000		-7,136.3
12-31-2026		17		12.4		248.4		0.0		0.0		0.0		2,457.6		4,975.0		59,374.7		27,021.5
12-31-2027		17		12.4		226.3		0.0		0.0		0.0		2,289.8		4,311.9		63,686.6		28,547.2
12-31-2028		17		12.4		183.2		0.0		0.0		0.0		2,154.8		3,803.1		67,489.7		29,770.1
12-31-2029		17		12.4		130.6		0.0		0.0		0.0		2,043.7		3,401.6		70,891.3		30,764.7
12-31-2030		17		12.4		124.7		0.0		0.0		0.0		1,951.0		3,027.3		73,918.6		31,569.3
SUBTOTAL						3,518.6		0.0		82,038.4		0.0		34,895.7		73,918.6		73,918.6		31,569.3
REMAINING						292.4		0.0		0.0		1,236.3		29,493.5		23,240.0		97,158.6		35,190.1
TOTAL OF 42.2 YRS						3,811.0		0.0		82,038.4		1,236.3		64,389.2		97,158.6		97,158.6		35,190.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST �� BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000352	JHNSTN 1 2H		0		1		0.0		12,942.9		86.150		86.150		69.716		69.716		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		37.3
000353	MACIALK 1 2H		0		1		0.0		8,033.7		70.980		70.980		56.880		56.880		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		33.6
000354	MRBLI 1 3H		0		1		0.0		8,994.3		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		31.3
000357	MTCKS 1 AYR 2H		0		1		0.0		8,517.1		48.888		48.888		39.086		39.086		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		32.4
000358	MTCKS 1 BNT 3H		0		1		0.0		8,017.9		67.412		67.412		54.120		54.120		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		31.6
000359	P&G 2 P&G 1 2H		0		1		0.0		9,245.6		86.150		86.150		68.059		68.059		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		32.6
000361	P&G 4 2H		0		1		0.0		6,883.4		51.690		51.690		40.495		40.495		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		28.3
000364	P&G 4 RNLDS 2H		0		1		0.0		11,714.7		85.176		85.176		68.206		68.206		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		36.5
000365	P&G 4 RNLDS 3H		0		1		0.0		13,304.3		85.176		85.176		68.206		68.206		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		37.1
000366	P&G 5 NRDNI 2H		0		1		0.0		10,095.1		73.530		73.530		58.507		58.507		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		36.2
000379	P&G 5 PRVST 2H		0		1		0.0		9,927.2		82.003		82.003		65.578		65.578		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		36.0
000368	P&G WH 1 2H		0		1		0.0		11,718.8		69.425		69.425		55.717		55.717		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		35.6
000355	P&G WH MRBL 4H		0		1		0.0		8,702.9		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		31.1
000372	PRVST 1 BNT 2H		0		1		0.0		9,526.2		67.412		67.412		54.120		54.120		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		33.8
000373	PRVST 1 MTK 2H		0		1		0.0		7,890.8		61.398		61.398		49.252		49.252		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		32.8
000374	RMLR 1 2H		0		1		0.0		12,487.3		57.081		57.081		45.865		45.865		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		37.3
000375	RMLR 1 MNNG 2H		0		1		0.0		11,706.5		86.320		86.320		68.599		68.599		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		36.1
	PROSPECT TOTAL		0		17		0.0		169,708.6
PIPELINE PROSPECT, WYOMING COUNTY
010014	P&G REVENUE PUD G		0		0		0.0		0.0		73.887		73.887		59.059		59.059		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		42.2
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL PENNSYLVANIA		0		17		0.0		169,708.6
	TOTAL ALL LEASES		0		17		0.0		169,708.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000352	JHNSTN 1 2H		0.0		0.0		12,942.9		0.0		0.0		9,023.2		0.0		0.0		20,635.4		262.5		6,780.0		86.2		5,216.2		8,290.5		3,416.1
000353	MACIALK 1 2H		0.0		0.0		8,033.7		0.0		0.0		4,569.6		0.0		0.0		10,927.6		221.6		4,752.1		71.0		3,398.9		2,484.0		275.6
000354	MRBLI 1 3H		0.0		0.0		8,994.3		0.0		0.0		5,676.3		0.0		0.0		12,843.3		238.7		5,679.5		78.7		3,572.7		3,273.7		702.3
000357	MTCKS 1 AYR 2H		0.0		0.0		8,517.1		0.0		0.0		3,329.0		0.0		0.0		7,899.6		152.3		3,023.8		48.9		2,305.1		2,369.5		713.8
000358	MTCKS 1 BNT 3H		0.0		0.0		8,017.9		0.0		0.0		4,339.3		0.0		0.0		10,294.0		209.9		4,105.4		67.4		3,035.2		2,876.1		796.4
000359	P&G 2 P&G 1 2H		0.0		0.0		9,245.6		0.0		0.0		6,292.4		0.0		0.0		14,704.9		266.1		5,548.1		86.2		4,144.1		4,660.4		1,578.1
000361	P&G 4 2H		0.0		0.0		6,883.4		0.0		0.0		2,787.5		0.0		0.0		6,518.9		160.1		3,049.7		51.7		1,981.1		1,276.3		160.7
000364	P&G 4 RNLDS 2H		0.0		0.0		11,714.7		0.0		0.0		7,990.1		0.0		0.0		18,749.5		263.8		6,026.2		85.2		4,967.2		7,407.1		2,900.8
000365	P&G 4 RNLDS 3H		0.0		0.0		13,304.3		0.0		0.0		9,074.4		0.0		0.0		20,497.2		257.7		3,163.3		85.2		5,174.2		11,816.8		6,887.7
000366	P&G 5 NRDNI 2H		0.0		0.0		10,095.1		0.0		0.0		5,906.3		0.0		0.0		13,969.8		228.3		5,389.8		73.5		4,051.0		4,227.2		1,018.2
000379	P&G 5 PRVST 2H		0.0		0.0		9,927.2		0.0		0.0		6,510.0		0.0		0.0		15,396.9		254.9		5,932.9		82.0		4,466.7		4,660.4		1,144.3
000368	P&G WH 1 2H		0.0		0.0		11,718.8		0.0		0.0		6,529.3		0.0		0.0		14,922.2		211.8		4,911.8		69.4		3,890.3		5,838.9		2,395.3
000355	P&G WH MRBL 4H		0.0		0.0		8,702.9		0.0		0.0		5,492.4		0.0		0.0		12,524.6		239.7		4,918.4		78.7		3,513.0		3,774.8		1,225.6
000372	PRVST 1 BNT 2H		0.0		0.0		9,526.2		0.0		0.0		5,155.6		0.0		0.0		12,165.3		209.6		4,341.3		67.4		3,413.5		4,133.5		1,432.9
000373	PRVST 1 MTK 2H		0.0		0.0		7,890.8		0.0		0.0		3,886.4		0.0		0.0		9,211.0		191.0		4,070.7		61.4		2,835.4		2,052.5		225.9
000374	RMLR 1 2H		0.0		0.0		12,487.3		0.0		0.0		5,727.3		0.0		0.0		13,389.0		176.4		4,238.3		57.1		3,460.8		5,456.4		2,194.9
000375	RMLR 1 MNNG 2H		0.0		0.0		11,706.5		0.0		0.0		8,030.5		0.0		0.0		18,766.1		266.6		6,107.1		86.3		4,963.8		7,342.3		2,915.4
	PROSPECT TOTAL		0.0		0.0		169,708.6		0.0		0.0		100,319.7		0.0		0.0		233,415.3		3,811.0		82,038.4		1,236.3		64,389.2		81,940.4		29,984.0
PIPELINE PROSPECT, WYOMING COUNTY
010014	P&G REVENUE PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		15,218.2		0.0		0.0		0.0		0.0		15,218.2		5,206.1
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		15,218.2		0.0		0.0		0.0		0.0		15,218.2		5,206.1
	TOTAL PENNSYLVANIA		0.0		0.0		169,708.6		0.0		0.0		100,319.7		0.0		0.0		248,633.5		3,811.0		82,038.4		1,236.3		64,389.2		97,158.6		35,190.1
	TOTAL ALL LEASES		0.0		0.0		169,708.6		0.0		0.0		100,319.7		0.0		0.0		248,633.5		3,811.0		82,038.4		1,236.3		64,389.2		97,158.6		35,190.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		4,367.7		0.0		0.0		3,002.0		0.000		0.000		1.935		0.0		0.0		5,808.8		5,808.8
12-31-2018		0.0		0.0		5,882.0		0.0		0.0		4,021.5		0.000		0.000		2.121		0.0		0.0		8,529.6		8,529.6
12-31-2019		0.0		0.0		11,629.3		0.0		0.0		7,163.9		0.000		0.000		2.155		0.0		0.0		15,438.2		15,438.2
12-31-2020		0.0		0.0		7,613.1		0.0		0.0		4,656.2		0.000		0.000		2.240		0.0		0.0		10,429.8		10,429.8
12-31-2021		0.0		0.0		5,105.0		0.0		0.0		3,146.9		0.000		0.000		2.365		0.0		0.0		7,442.2		7,442.2
12-31-2022		0.0		0.0		3,859.7		0.0		0.0		2,388.4		0.000		0.000		2.515		0.0		0.0		6,006.9		6,006.9
12-31-2023		0.0		0.0		3,105.7		0.0		0.0		1,926.2		0.000		0.000		2.534		0.0		0.0		4,881.4		4,881.4
12-31-2024		0.0		0.0		2,598.1		0.0		0.0		1,613.7		0.000		0.000		2.702		0.0		0.0		4,360.1		4,360.1
12-31-2025		0.0		0.0		2,232.5		0.0		0.0		1,388.0		0.000		0.000		2.791		0.0		0.0		3,874.1		3,874.1
12-31-2026		0.0		0.0		1,956.5		0.0		0.0		1,217.2		0.000		0.000		2.800		0.0		0.0		3,408.0		3,408.0
12-31-2027		0.0		0.0		1,740.6		0.0		0.0		1,083.5		0.000		0.000		2.800		0.0		0.0		3,033.4		3,033.4
12-31-2028		0.0		0.0		1,567.2		0.0		0.0		975.9		0.000		0.000		2.800		0.0		0.0		2,732.2		2,732.2
12-31-2029		0.0		0.0		1,424.9		0.0		0.0		887.5		0.000		0.000		2.799		0.0		0.0		2,484.6		2,484.6
12-31-2030		0.0		0.0		1,305.9		0.0		0.0		813.6		0.000		0.000		2.799		0.0		0.0		2,277.7		2,277.7
SUBTOTAL		0.0		0.0		54,388.2		0.0		0.0		34,284.5		0.000		0.000		2.354		0.0		0.0		80,707.0		80,707.0
REMAINING		0.0		0.0		14,911.4		0.0		0.0		9,326.0		0.000		0.000		2.798		0.0		0.0		26,096.9		26,096.9
TOTAL		0.0		0.0		69,299.6		0.0		0.0		43,610.5		0.000		0.000		2.449		0.0		0.0		106,803.9		106,803.9
CUM PROD		0.0				0.0
ULTIMATE		0.0				69,299.6

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		20,079.2
12-31-2017		2		1.7		42.3		0.0		12,511.0		0.0		476.2		-7,220.7		-7,220.7		-6,974.5		12.000		13,952.2
12-31-2018		3		2.6		78.1		0.0		9,565.3		0.0		673.4		-1,787.2		-9,007.9		-8,407.6		15.000		10,660.1
12-31-2019		6		4.6		171.0		0.0		9,486.9		0.0		1,242.7		4,537.6		-4,470.3		-5,216.3		20.000		6,696.6
12-31-2020		6		4.6		162.6		0.0		0.0		0.0		949.9		9,317.3		4,847.0		1,225.9		25.000		3,947.6
12-31-2021		6		4.6		125.9		0.0		0.0		0.0		1,052.3		6,264.0		11,111.0		5,165.4		30.000		1,963.2
12-31-2022		6		4.6		99.0		0.0		0.0		0.0		1,670.7		4,237.2		15,348.2		7,582.1		35.000		490.7
12-31-2023		6		4.6		92.5		0.0		0.0		0.0		1,416.0		3,372.9		18,721.1		9,329.8		40.000		-625.9
12-31-2024		6		4.6		92.5		0.0		0.0		0.0		1,243.6		3,024.0		21,745.1		10,753.0		45.000		-1,486.0
12-31-2025		6		4.6		92.5		0.0		0.0		0.0		1,119.0		2,662.6		24,407.7		11,892.8		50.000		-2,156.4
12-31-2026		6		4.6		92.5		0.0		0.0		0.0		1,024.8		2,290.7		26,698.4		12,784.2
12-31-2027		6		4.6		83.2		0.0		0.0		0.0		951.0		1,999.2		28,697.6		13,491.4
12-31-2028		6		4.6		73.2		0.0		0.0		0.0		891.6		1,767.4		30,465.0		14,059.8
12-31-2029		6		4.6		52.7		0.0		0.0		0.0		842.8		1,589.1		32,054.1		14,524.3
12-31-2030		6		4.6		46.5		0.0		0.0		0.0		802.1		1,429.1		33,483.2		14,904.0
SUBTOTAL						1,304.5		0.0		31,563.2		0.0		14,356.1		33,483.2		33,483.2		14,904.0
REMAINING						117.0		0.0		0.0		460.5		13,212.1		12,307.3		45,790.5		16,709.4
TOTAL OF 43.1 YRS						1,421.5		0.0		31,563.2		460.5		27,568.2		45,790.5		45,790.5		16,709.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
												PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000376	MACIALK 1 3H		0		1		0.0		7,804.4		70.980		70.980		56.880		56.880		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		33.2
000377	MRBLI 1 KST 1H		0		1		0.0		13,713.1		86.247		86.247		68.289		68.289		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		39.3
000356	MTCKS 1 3H		0		1		0.0		9,904.6		61.398		61.398		49.252		49.252		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		36.6
000378	MTCKS 1 CK 3H		0		1		0.0		8,907.6		72.328		72.328		58.558		58.558		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		35.2
000367	P&G 5 RURK 5H		0		1		0.0		17,593.2		83.354		83.354		67.162		67.162		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		43.1
000382	P&G WH 1 MC 2H		0		1		0.0		11,376.7		86.169		86.169		69.410		69.410		0.000		0.000		0.000		0.000		1.518		2.515		0.9		8.2		35.2
	PROSPECT TOTAL		0		6		0.0		69,299.6
PIPELINE PROSPECT, WYOMING COUNTY
010003	P&G REVENUE PRB G		0		0		0.0		0.0		73.887		73.887		59.059		59.059		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		43.1
	PROSPECT TOTAL		0		0		0.0		0.0
TOTAL PENNSYLVANIA			0		6		0.0		69,299.6
TOTAL ALL LEASES			0		6		0.0		69,299.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
												PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000376	MACIALK 1 3H		0.0		0.0		7,804.4		0.0		0.0		4,439.1		0.0		0.0		10,614.1		221.6		4,255.2		71.0		3,325.2		2,741.1		554.3
000377	MRBLI 1 KST 1H		0.0		0.0		13,713.1		0.0		0.0		9,364.5		0.0		0.0		21,427.4		261.5		7,263.3		86.2		5,657.5		8,158.9		2,758.1
000356	MTCKS 1 3H		0.0		0.0		9,904.6		0.0		0.0		4,878.3		0.0		0.0		11,641.6		191.3		3,954.0		61.4		3,422.1		4,012.8		1,198.6
000378	MTCKS 1 CK 3H		0.0		0.0		8,907.6		0.0		0.0		5,216.1		0.0		0.0		12,442.9		225.4		4,520.6		72.3		3,729.3		3,895.3		1,062.7
000367	P&G 5 RURK 5H		0.0		0.0		17,593.2		0.0		0.0		11,816.1		0.0		0.0		27,853.6		259.2		6,322.4		83.4		6,710.7		14,477.9		6,455.5
000382	P&G WH 1 MC 2H		0.0		0.0		11,376.7		0.0		0.0		7,896.6		0.0		0.0		18,043.8		262.5		5,247.7		86.2		4,723.4		7,724.0		3,550.7
	PROSPECT TOTAL		0.0		0.0		69,299.6		0.0		0.0		43,610.5		0.0		0.0		102,023.4		1,421.5		31,563.2		460.5		27,568.2		41,010.0		15,579.9
PIPELINE PROSPECT, WYOMING COUNTY
010003	P&G REVENUE PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		4,780.5		0.0		0.0		0.0		0.0		4,780.5		1,129.5
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		4,780.5		0.0		0.0		0.0		0.0		4,780.5		1,129.5
TOTAL PENNSYLVANIA			0.0		0.0		69,299.6		0.0		0.0		43,610.5		0.0		0.0		106,803.9		1,421.5		31,563.2		460.5		27,568.2		45,790.5		16,709.4
TOTAL ALL LEASES			0.0		0.0		69,299.6		0.0		0.0		43,610.5		0.0		0.0		106,803.9		1,421.5		31,563.2		460.5		27,568.2		45,790.5		16,709.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		2,509.6		0.0		0.0		1,583.5		0.000		0.000		1.935		0.0		0.0		3,064.1		3,064.1
12-31-2018		0.0		0.0		7,197.8		0.0		0.0		4,373.8		0.000		0.000		2.121		0.0		0.0		9,276.8		9,276.8
12-31-2019		0.0		0.0		12,601.9		0.0		0.0		7,162.7		0.000		0.000		2.155		0.0		0.0		15,435.5		15,435.5
12-31-2020		0.0		0.0		13,758.3		0.0		0.0		7,528.7		0.000		0.000		2.240		0.0		0.0		16,864.2		16,864.2
12-31-2021		0.0		0.0		8,296.2		0.0		0.0		4,581.6		0.000		0.000		2.365		0.0		0.0		10,835.5		10,835.5
12-31-2022		0.0		0.0		8,662.6		0.0		0.0		4,359.1		0.000		0.000		2.515		0.0		0.0		10,963.4		10,963.4
12-31-2023		0.0		0.0		7,781.8		0.0		0.0		3,706.0		0.000		0.000		2.515		0.0		0.0		9,320.8		9,320.8
12-31-2024		0.0		0.0		5,646.0		0.0		0.0		2,791.3		0.000		0.000		2.517		0.0		0.0		7,024.3		7,024.3
12-31-2025		0.0		0.0		4,541.2		0.0		0.0		2,283.2		0.000		0.000		2.594		0.0		0.0		5,923.5		5,923.5
12-31-2026		0.0		0.0		3,825.6		0.0		0.0		1,942.4		0.000		0.000		2.735		0.0		0.0		5,312.3		5,312.3
12-31-2027		0.0		0.0		3,314.1		0.0		0.0		1,693.5		0.000		0.000		2.846		0.0		0.0		4,819.2		4,819.2
12-31-2028		0.0		0.0		2,927.0		0.0		0.0		1,502.5		0.000		0.000		2.860		0.0		0.0		4,297.4		4,297.4
12-31-2029		0.0		0.0		2,622.3		0.0		0.0		1,350.7		0.000		0.000		2.859		0.0		0.0		3,861.6		3,861.6
12-31-2030		0.0		0.0		2,375.8		0.0		0.0		1,226.8		0.000		0.000		2.858		0.0		0.0		3,506.2		3,506.2
SUBTOTAL		0.0		0.0		86,060.2		0.0		0.0		46,085.9		0.000		0.000		2.398		0.0		0.0		110,504.8		110,504.8
REMAINING		0.0		0.0		29,852.9		0.0		0.0		15,744.6		0.000		0.000		2.851		0.0		0.0		44,887.1		44,887.1
TOTAL		0.0		0.0		115,913.1		0.0		0.0		61,830.5		0.000		0.000		2.513		0.0		0.0		155,391.9		155,391.9
CUM PROD		0.0				0.0
ULTIMATE		0.0				115,913.1

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%			PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM			DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$			%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			8.000		46,896.8
12-31-2017		0		0.0		0.0		0.0		0.0		0.0		202.8		2,861.3		2,861.3		2,564.7			12.000		36,805.8
12-31-2018		0		0.0		0.0		0.0		0.0		0.0		563.2		8,713.6		11,574.9		9,751.9			15.000		31,474.2
12-31-2019		3		2.0		32.0		0.0		18,310.3		0.0		990.2		-3,897.0		7,677.9		6,881.6			20.000		25,099.5
12-31-2020		4		2.7		124.7		0.0		0.0		0.0		1,176.9		15,562.6		23,240.5		17,648.9			25.000		20,665.4
12-31-2021		4		2.7		101.2		0.0		1,325.5		0.0		1,216.4		8,192.4		31,432.9		22,829.5			30.000		17,424.8
12-31-2022		6		3.6		97.0		0.0		4,573.0		0.0		2,661.7		3,631.7		35,064.6		24,846.4			35.000		14,963.2
12-31-2023		6		3.6		94.7		0.0		0.0		0.0		2,325.8		6,900.3		41,964.9		28,427.2			40.000		13,043.7
12-31-2024		6		3.6		85.2		0.0		0.0		0.0		1,819.1		5,120.0		47,084.9		30,840.3			45.000		11,510.1
12-31-2025		6		3.6		76.1		0.0		0.0		0.0		1,537.7		4,309.7		51,394.6		32,684.8			50.000		10,262.6
12-31-2026		6		3.6		71.6		0.0		0.0		0.0		1,349.0		3,891.7		55,286.3		34,198.6
12-31-2027		6		3.6		71.6		0.0		0.0		0.0		1,211.2		3,536.4		58,822.7		35,449.4
12-31-2028		6		3.6		71.6		0.0		0.0		0.0		1,105.2		3,120.6		61,943.3		36,452.9	��
12-31-2029		6		3.6		65.2		0.0		0.0		0.0		1,021.2		2,775.2		64,718.5		37,264.2
12-31-2030		6		3.6		45.5		0.0		0.0		0.0		952.8		2,507.9		67,226.4		37,930.6
SUBTOTAL						936.4		0.0		24,208.8		0.0		18,133.2		67,226.4		67,226.4		37,930.6
REMAINING						174.3		0.0		0.0		356.2		19,178.4		25,178.2		92,404.6		41,314.4
TOTAL OF 43.1 YRS						1,110.7		0.0		24,208.8		356.2		37,311.6		92,404.6		92,404.6		41,314.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M					LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START			END		YRS
												PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000409	JHNSTN 1 2H IPS		0		1		0.0		4,995.6		86.150		86.150		69.716		69.716		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		42.3
000411	MACIALK 1 2H IPS		0		1		0.0		3,074.7		70.980		70.980		56.880		56.880		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		38.4
000469	MACIALK 1 3H IPS		0		0		0.0		0.0		70.980		70.980		56.880		56.880		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		33.2
000383	MACIALK 1 COOK 2H		0		1		0.0		10,111.4		72.328		72.328		58.558		58.558		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.2
000447	MACIALK UM 11H		0		1		0.0		9,786.0		53.235		53.235		42.660		42.660		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		39.4
000448	MACIALK UM 12H		0		0		0.0		0.0		53.235		53.235		42.660		42.660		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000449	MACIALK UM 13H		0		0		0.0		0.0		53.235		53.235		42.660		42.660		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000413	MRBLI 1 3H IPS		0		1		0.0		3,435.2		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		36.2
000415	MRBLI 1 KST 1H IPS		0		0		0.0		0.0		86.247		86.247		68.289		68.289		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		39.3
000451	MRBLI 1 KST UM 11H		0		1		0.0		9,343.0		64.685		64.685		51.216		51.216		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		36.0
000452	MRBLI 1 KST UM 12H		0		1		0.0		8,368.6		64.685		64.685		51.216		51.216		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		34.4
000471	MTCKS 1 3H IPS		0		0		0.0		0.0		61.398		61.398		49.252		49.252		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		36.6
000417	MTCKS 1 AYR 2H IPS		0		1		0.0		3,251.2		48.888		48.888		39.086		39.086		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.3
000454	MTCKS BNT UM 11H		0		0		0.0		0.0		50.559		50.559		40.590		40.590		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000455	MTCKS AYR UM 11H		0		1		0.0		8,116.3		36.666		36.666		29.315		29.315		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.0
000418	MTCKS 1 BNT 3H IPS		0		1		0.0		3,066.8		67.412		67.412		54.120		54.120		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		36.4
000472	MTCKS 1 CK 3H IPS		0		0		0.0		0.0		72.328		72.328		58.558		58.558		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		35.2
000457	MTCKS CK UM 12H		0		0		0.0		0.0		54.246		54.246		43.919		43.919		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000456	MTCKS CK UM 13H		0		0		0.0		0.0		54.246		54.246		43.919		43.919		0.000		0.000		0.000		0.000		0.000		0.000		0.0	��		0.0		0.0
000421	P&G 2 P&G 1 2H IPS		0		1		0.0		3,565.0		86.150		86.150		68.059		68.059		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.4
000422	P&G 4 2H IPS		0		1		0.0		2,613.9		51.690		51.690		40.495		40.495		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		32.9
000425	P&G 4 RNLDS 2H IPS		0		1		0.0		4,496.1		85.176		85.176		68.206		68.206		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		41.5
000473	P&G 4 RNLDS 3H IPS		0		0		0.0		0.0		85.176		85.176		68.206		68.206		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.1
000427	P&G 5 NRDNI 2H IPS		0		1		0.0		3,851.7		73.530		73.530		58.507		58.507		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		41.1
000428	P&G 5 PRVST 2H IPS		0		1		0.0		3,794.1		82.003		82.003		65.578		65.578		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		40.9
000429	P&G 5 RURK 5H IPS		0		0		0.0		0.0		83.354		83.354		67.162		67.162		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		43.1
000431	P&G WH 1 2H IPS		0		1		0.0		4,492.0		69.425		69.425		55.717		55.717		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		40.5
000432	P&G WH 1 MC 2H IPS		0		0		0.0		0.0		86.169		86.169		69.410		69.410		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		35.2
000453	P&G WH LSCO UM 11H		0		1		0.0		10,244.8		64.637		64.637		51.750		51.750		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.8
000414	P&G WH MRBL 4H IPS		0		1		0.0		3,333.7		78.694		78.694		63.110		63.110		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		36.0
000433	PRVST 1 BNT 2H IPS		0		1		0.0		3,674.2		67.412		67.412		54.120		54.120		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		38.7
000434	PRVST 1 MTK 2H IPS		0		1		0.0		2,991.0		61.398		61.398		49.252		49.252		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		37.7
000435	RMLR 1 2H IPS		0		1		0.0		4,811.5		57.081		57.081		45.865		45.865		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		42.3
000436	RMLR 1 MNNG 2H IPS		0		1		0.0		4,496.1		86.320		86.320		68.599		68.599		0.000		0.000		0.000		0.000		1.518		2.515		0.9			8.2		41.1
	PROSPECT TOTAL		0		22		0.0		115,913.1
PIPELINE PROSPECT, WYOMING COUNTY
010004	P&G REVENUE POS G		0		0		0.0		0.0		73.887		73.887		59.059		59.059		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		43.1
	PROSPECT TOTAL		0		0		0.0		0.0
TOTAL PENNSYLVANIA			0		22		0.0		115,913.1
TOTAL ALL LEASES			0		22		0.0		115,913.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES PENNSYLVANIA BUSINESS UNIT WYOMING COUNTY, PENNSYLVANIA

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
												PENNSYLVANIA
CITRUS PROSPECT, WYOMING COUNTY
000409	JHNSTN 1 2H IPS		0.0		0.0		4,995.6		0.0		0.0		3,482.8		0.0		0.0		8,009.8		0.0		0.0		0.0		1,462.7		6,547.1		3,792.4
000411	MACIALK 1 2H IPS		0.0		0.0		3,074.7		0.0		0.0		1,748.9		0.0		0.0		4,201.7		0.0		0.0		0.0		948.5		3,253.2		1,577.3
000469	MACIALK 1 3H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000383	MACIALK 1 COOK 2H		0.0		0.0		10,111.4		0.0		0.0		5,921.0		0.0		0.0		14,173.4		225.4		4,726.6		72.3		4,134.9		5,014.2		1,542.2
000447	MACIALK UM 11H		0.0		0.0		9,786.0		0.0		0.0		4,174.7		0.0		0.0		10,499.4		166.2		3,513.4		53.2		3,686.6		3,080.0		577.3
000448	MACIALK UM 12H		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000449	MACIALK UM 13H		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000413	MRBLI 1 3H IPS		0.0		0.0		3,435.2		0.0		0.0		2,167.9		0.0		0.0		4,949.1		0.0		0.0		0.0		991.7		3,957.4		2,390.6
000415	MRBLI 1 KST 1H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000451	MRBLI 1 KST UM 11H		0.0		0.0		9,343.0		0.0		0.0		4,785.1		0.0		0.0		11,553.9		201.5		4,453.6		64.7		3,541.5		3,292.6		712.1
000452	MRBLI 1 KST UM 12H		0.0		0.0		8,368.6		0.0		0.0		4,286.1		0.0		0.0		10,345.2		201.5		4,453.6		64.7		3,257.5		2,367.9		286.9
000471	MTCKS 1 3H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000417	MTCKS 1 AYR 2H IPS		0.0		0.0		3,251.2		0.0		0.0		1,270.8		0.0		0.0		3,030.8		0.0		0.0		0.0		654.8		2,376.0		1,219.6
000454	MTCKS BNT UM 11H		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000455	MTCKS AYR UM 11H		0.0		0.0		8,116.3		0.0		0.0		2,379.3		0.0		0.0		5,983.8		114.4		2,385.1		36.7		2,188.4		1,259.2		87.3
000418	MTCKS 1 BNT 3H IPS		0.0		0.0		3,066.8		0.0		0.0		1,659.8		0.0		0.0		3,958.6		0.0		0.0		0.0		866.0		3,092.6		1,592.9
000472	MTCKS 1 CK 3H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000457	MTCKS CK UM 12H		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000456	MTCKS CK UM 13H		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000421	P&G 2 P&G 1 2H IPS		0.0		0.0		3,565.0		0.0		0.0		2,426.3		0.0		0.0		5,703.9		0.0		0.0		0.0		1,174.2		4,529.7		2,498.7
000422	P&G 4 2H IPS		0.0		0.0		2,613.9		0.0		0.0		1,058.5		0.0		0.0		2,494.9		0.0		0.0		0.0		565.8		1,929.1		1,072.2
000425	P&G 4 RNLDS 2H IPS		0.0		0.0		4,496.1		0.0		0.0		3,066.6		0.0		0.0		7,228.9		0.0		0.0		0.0		1,407.1		5,821.8		3,115.5
000473	P&G 4 RNLDS 3H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000427	P&G 5 NRDNI 2H IPS		0.0		0.0		3,851.7		0.0		0.0		2,253.5		0.0		0.0		5,354.9		0.0		0.0		0.0		1,121.2		4,233.7		2,152.0
000428	P&G 5 PRVST 2H IPS		0.0		0.0		3,794.1		0.0		0.0		2,488.1		0.0		0.0		5,912.2		0.0		0.0		0.0		1,236.2		4,676.0		2,377.3
000429	P&G 5 RURK 5H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000431	P&G WH 1 2H IPS		0.0		0.0		4,492.0		0.0		0.0		2,502.8		0.0		0.0		5,755.9		0.0		0.0		0.0		1,082.2		4,673.7		2,723.1
000432	P&G WH 1 MC 2H IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000453	P&G WH LSCO UM 11H		0.0		0.0		10,244.8		0.0		0.0		5,301.7		0.0		0.0		12,879.3		201.7		4,676.5		64.6		3,866.6		4,069.9		992.3
000414	P&G WH MRBL 4H IPS		0.0		0.0		3,333.7		0.0		0.0		2,103.9		0.0		0.0		4,839.2		0.0		0.0		0.0		987.6		3,851.6		2,284.2
000433	PRVST 1 BNT 2H IPS		0.0		0.0		3,674.2		0.0		0.0		1,988.5		0.0		0.0		4,715.5		0.0		0.0		0.0		971.4		3,744.1		1,966.1
000434	PRVST 1 MTK 2H IPS		0.0		0.0		2,991.0		0.0		0.0		1,473.1		0.0		0.0		3,510.7		0.0		0.0		0.0		781.7		2,729.0		1,387.4
000435	RMLR 1 2H IPS		0.0		0.0		4,811.5		0.0		0.0		2,206.8		0.0		0.0		5,182.0		0.0		0.0		0.0		979.3		4,202.7		2,293.2
000436	RMLR 1 MNNG 2H IPS		0.0		0.0		4,496.1		0.0		0.0		3,084.3		0.0		0.0		7,242.8		0.0		0.0		0.0		1,405.7		5,837.1		3,198.8
	PROSPECT TOTAL		0.0		0.0		115,913.1		0.0		0.0		61,830.5		0.0		0.0		147,525.9		1,110.7		24,208.8		356.2		37,311.6		84,538.6		39,839.4
PIPELINE PROSPECT, WYOMING COUNTY
010004	P&G REVENUE POS G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		7,866.0		0.0		0.0		0.0		0.0		7,866.0		1,475.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		7,866.0		0.0		0.0		0.0		0.0		7,866.0		1,475.0
TOTAL PENNSYLVANIA			0.0		0.0		115,913.1		0.0		0.0		61,830.5		0.0		0.0		155,391.9		1,110.7		24,208.8		356.2		37,311.6		92,404.6		41,314.4
TOTAL ALL LEASES			0.0		0.0		115,913.1		0.0		0.0		61,830.5		0.0		0.0		155,391.9		1,110.7		24,208.8		356.2		37,311.6		92,404.6		41,314.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WYOMING BUSINESS UNIT NEW MEXICO, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.3		0.0		3,849.6		0.1		0.0		2,186.8		40.383		0.000		2.321		2.9		0.0		5,075.3		5,078.2
12-31-2017		0.6		0.0		9,722.2		0.1		0.0		5,630.4		41.956		0.000		2.627		5.9		0.0		14,789.9		14,795.8
12-31-2018		0.5		0.0		11,714.9		0.1		0.0		6,863.6		43.467		0.000		2.665		4.5		0.0		18,289.3		18,293.8
12-31-2019		0.4		0.0		13,404.6		0.1		0.0		7,915.4		44.851		0.000		2.712		3.5		0.0		21,466.8		21,470.3
12-31-2020		0.3		0.0		14,940.2		0.1		0.0		8,870.5		46.002		0.000		2.803		2.7		0.0		24,864.6		24,867.3
12-31-2021		0.2		0.0		15,549.5		0.0		0.0		9,273.6		46.865		0.000		2.931		2.1		0.0		27,184.9		27,187.0
12-31-2022		0.2		0.0		14,169.8		0.0		0.0		8,442.6		47.674		0.000		3.082		1.7		0.0		26,022.6		26,024.3
12-31-2023		0.1		0.0		12,154.9		0.0		0.0		7,251.3		47.674		0.000		3.084		1.1		0.0		22,362.8		22,363.9
12-31-2024		0.1		0.0		9,885.3		0.0		0.0		5,923.3		47.674		0.000		3.086		0.6		0.0		18,279.2		18,279.8
12-31-2025		0.0		0.0		7,559.9		0.0		0.0		4,547.6		47.674		0.000		3.088		0.4		0.0		14,043.1		14,043.5
12-31-2026		0.0		0.0		5,612.4		0.0		0.0		3,381.4		47.674		0.000		3.089		0.2		0.0		10,443.6		10,443.8
12-31-2027		0.0		0.0		1,527.2		0.0		0.0		918.5		47.674		0.000		3.086		0.1		0.0		2,835.1		2,835.2
05-31-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		2.7		0.0		120,090.6		0.6		0.0		71,205.1		44.007		0.000		2.888		25.7		0.0		205,657.2		205,682.9
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		2.7		0.0		120,090.6		0.6		0.0		71,205.1		44.007		0.000		2.888		25.7		0.0		205,657.2		205,682.9
CUM PROD		255.3				189,228.3
ULTIMATE		258.0				309,318.9

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		170		121.9		309.8		364.3		0.0		0.0		3,237.3		1,166.8		1,166.8		1,141.2		8.000		31,243.6
12-31-2017		194		139.5		900.2		1,066.3		12,451.6		590.2		8,140.7		-8,353.2		-7,186.4		-6,581.1		12.000		25,507.4
12-31-2018		201		144.4		1,109.5		1,325.9		4,645.6		0.0		8,908.4		2,304.4		-4,882.0		-4,713.9		15.000		21,910.7
12-31-2019		194		140.2		1,300.3		1,564.0		3,401.3		38.1		9,431.6		5,735.0		853.0		-380.0		20.000		17,018.3
12-31-2020		198		143.7		1,503.7		1,814.9		3,639.6		19.0		9,940.8		7,949.3		8,802.3		5,094.3		25.000		13,214.0
12-31-2021		190		137.8		1,644.3		1,985.6		0.0		0.0		10,097.7		13,459.4		22,261.7		13,523.4		30.000		10,246.6
12-31-2022		248		182.7		1,574.9		1,901.4		0.0		0.0		9,726.7		12,821.3		35,083.0		20,831.8		35.000		7,914.2
12-31-2023		169		122.5		1,352.0		1,634.5		0.0		19.3		9,060.0		10,298.1		45,381.1		26,171.3		40.000		6,073.3
12-31-2024		152		110.4		1,104.5		1,336.6		0.0		40.1		8,420.9		7,377.7		52,758.8		29,652.3		45.000		4,597.7
12-31-2025		142		103.0		848.6		1,026.8		0.0		0.0		7,803.1		4,365.0		57,123.8		31,527.5		50.000		3,419.1
12-31-2026		135		98.5		631.1		763.7		0.0		37.6		7,375.9		1,635.5		58,759.3		32,169.4
12-31-2027		131		96.0		170.9		207.6		0.0		17.9		2,369.9		68.9		58,828.2		32,194.0
05-31-2028		0		0.0		0.0		0.0		0.0		12,099.9		0.0		-12,099.9		46,728.3		28,230.0
SUBTOTAL						12,449.8		14,991.6		24,138.1		12,862.1		94,513.0		46,728.3		46,728.3		28,230.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		46,728.3		28,230.0
TOTAL OF 11.8 YRS						12,449.8		14,991.6		24,138.1		12,862.1		94,513.0		46,728.3		46,728.3		28,230.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WYOMING BUSINESS UNIT NEW MEXICO, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.3		0.0		3,849.6		0.1		0.0		2,186.8		40.383		0.000		2.321		2.9		0.0		5,075.3		5,078.2
12-31-2017		0.6		0.0		9,002.8		0.1		0.0		5,211.6		41.956		0.000		2.622		5.9		0.0		13,665.2		13,671.1
12-31-2018		0.5		0.0		8,018.3		0.1		0.0		4,724.5		43.467		0.000		2.648		4.5		0.0		12,511.0		12,515.5
12-31-2019		0.4		0.0		6,874.2		0.1		0.0		4,122.6		44.851		0.000		2.691		3.5		0.0		11,093.0		11,096.5
12-31-2020		0.3		0.0		5,952.5		0.1		0.0		3,596.1		46.002		0.000		2.778		2.7		0.0		9,991.0		9,993.7
12-31-2021		0.2		0.0		4,826.6		0.0		0.0		2,919.8		46.865		0.000		2.902		2.1		0.0		8,472.9		8,475.0
12-31-2022		0.2		0.0		958.8		0.0		0.0		471.8		47.674		0.000		2.869		1.7		0.0		1,353.9		1,355.6
12-31-2023		0.1		0.0		248.0		0.0		0.0		52.5		47.674		0.000		1.576		1.1		0.0		82.7		83.8
12-31-2024		0.1		0.0		171.0		0.0		0.0		35.9		47.674		0.000		1.585		0.6		0.0		56.9		57.5
12-31-2025		0.0		0.0		101.7		0.0		0.0		21.4		47.674		0.000		1.571		0.4		0.0		33.5		33.9
12-31-2026		0.0		0.0		64.9		0.0		0.0		13.9		47.674		0.000		1.532		0.2		0.0		21.3		21.5
12-31-2027		0.0		0.0		22.4		0.0		0.0		4.9		47.674		0.000		1.484		0.1		0.0		7.3		7.4
05-31-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		2.7		0.0		40,090.8		0.6		0.0		23,361.7		44.007		0.000		2.669		25.7		0.0		62,364.0		62,389.7
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		2.7		0.0		40,090.8		0.6		0.0		23,361.7		44.007		0.000		2.669		25.7		0.0		62,364.0		62,389.7
CUM PROD		255.3				189,181.1
ULTIMATE		258.0				229,271.9

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		125		90.1		309.8		364.3		0.0		0.0		3,237.3		1,166.8		1,166.8		1,141.2		8.000		4,136.6
12-31-2017		123		88.5		832.2		984.1		0.0		590.2		7,741.1		3,523.5		4,690.3		4,376.6		12.000		4,863.6
12-31-2018		120		86.2		760.9		902.8		0.0		0.0		7,484.9		3,366.9		8,057.2		7,188.3		15.000		5,235.9
12-31-2019		108		78.5		674.3		803.4		0.0		38.1		7,169.7		2,411.0		10,468.2		9,022.0		20.000		5,626.0
12-31-2020		103		75.5		605.6		724.3		0.0		19.0		6,923.1		1,721.7		12,189.9		10,212.6		25.000		5,814.2
12-31-2021		94		68.8		514.3		614.6		0.0		0.0		6,545.3		800.8		12,990.7		10,721.2		30.000		5,872.6
12-31-2022		86		62.8		83.8		93.8		0.0		0.0		1,117.0		61.0		13,051.7		10,757.0		35.000		5,850.3
12-31-2023		6		1.5		6.5		1.9		0.0		11,545.1		58.1		-11,527.8		1,523.9		4,577.3		40.000		5,771.7
12-31-2024		4		1.0		4.4		1.2		0.0		40.1		42.9		-31.1		1,492.8		4,562.7		45.000		5,660.5
12-31-2025		4		1.0		2.7		0.7		0.0		0.0		26.9		3.6		1,496.4		4,564.3		50.000		5,533.0
12-31-2026		2		0.5		1.7		0.4		0.0		37.6		17.9		-36.1		1,460.3		4,549.9
12-31-2027		1		0.3		0.6		0.1		0.0		17.9		6.5		-17.7		1,442.6		4,543.6
05-31-2028		0		0.0		0.0		0.0		0.0		18.8		0.0		-18.8		1,423.8		4,537.5
SUBTOTAL						3,796.8		4,491.6		0.0		12,306.8		40,370.7		1,423.8		1,423.8		4,537.5
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		1,423.8		4,537.5
TOTAL OF 10.8 YRS						3,796.8		4,491.6		0.0		12,306.8		40,370.7		1,423.8		1,423.8		4,537.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WYOMING BUSINESS UNIT NEW MEXICO, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		662.7		0.0		0.0		382.0		0.000		0.000		2.685		0.0		0.0		1,025.6		1,025.6
12-31-2018		0.0		0.0		3,475.0		0.0		0.0		1,995.0		0.000		0.000		2.701		0.0		0.0		5,389.2		5,389.2
12-31-2019		0.0		0.0		5,909.5		0.0		0.0		3,389.1		0.000		0.000		2.735		0.0		0.0		9,269.7		9,269.7
12-31-2020		0.0		0.0		7,658.0		0.0		0.0		4,409.6		0.000		0.000		2.820		0.0		0.0		12,434.7		12,434.7
12-31-2021		0.0		0.0		9,225.0		0.0		0.0		5,379.7		0.000		0.000		2.945		0.0		0.0		15,843.2		15,843.2
12-31-2022		0.0		0.0		11,725.1		0.0		0.0		7,004.4		0.000		0.000		3.095		0.0		0.0		21,677.9		21,677.9
12-31-2023		0.0		0.0		10,435.8		0.0		0.0		6,242.1		0.000		0.000		3.095		0.0		0.0		19,319.3		19,319.3
12-31-2024		0.0		0.0		8,330.7		0.0		0.0		4,987.6		0.000		0.000		3.095		0.0		0.0		15,437.0		15,437.0
12-31-2025		0.0		0.0		6,367.9		0.0		0.0		3,817.1		0.000		0.000		3.095		0.0		0.0		11,815.1		11,815.1
12-31-2026		0.0		0.0		4,729.1		0.0		0.0		2,835.3		0.000		0.000		3.095		0.0		0.0		8,775.1		8,775.1
04-30-2027		0.0		0.0		1,280.3		0.0		0.0		767.6		0.000		0.000		3.095		0.0		0.0		2,375.8		2,375.8
SUBTOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.000		0.000		2.994		0.0		0.0		123,362.6		123,362.6
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.000		0.000		2.994		0.0		0.0		123,362.6		123,362.6
CUM PROD		0.0				47.2
ULTIMATE		0.0				69,846.4

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		45		31.8		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		24,548.4
12-31-2017		61		43.1		62.2		75.0		5,623.4		0.0		279.5		-5,014.5		-5,014.5		-4,582.0		12.000		19,206.4
12-31-2018		69		48.7		325.2		394.5		3,556.8		0.0		1,181.7		-69.0		-5,083.5		-4,664.4		15.000		16,022.3
12-31-2019		74		52.1		559.4		679.4		3,401.3		0.0		1,928.2		2,701.4		-2,382.1		-2,631.3		20.000		11,879.3
12-31-2020		83		58.7		750.7		911.7		3,639.6		0.0		2,530.5		4,602.2		2,220.1		536.1		25.000		8,807.0
12-31-2021		84		59.4		956.6		1,160.8		0.0		0.0		3,028.8		10,697.0		12,917.1		7,228.3		30.000		6,499.3
12-31-2022		150		110.4		1,310.5		1,588.4		0.0		0.0		8,088.6		10,690.4		23,607.5		13,322.5		35.000		4,740.0
12-31-2023		151		111.4		1,166.5		1,415.5		0.0		0.0		8,484.2		8,253.1		31,860.6		17,603.8		40.000		3,393.0
12-31-2024		136		99.9		932.1		1,131.2		0.0		0.0		7,879.2		5,494.5		37,355.1		20,198.0		45.000		2,338.4
12-31-2025		126		92.5		713.4		865.4		0.0		0.0		7,340.8		2,895.5		40,250.6		21,443.3		50.000		1,513.4
12-31-2026		121		88.5		530.1		642.7		0.0		0.0		6,953.7		648.6		40,899.2		21,700.5
04-30-2027		118		86.2		143.0		174.4		0.0		0.0		2,054.8		3.6		40,902.8		21,701.2
SUBTOTAL						7,449.7		9,039.0		16,221.1		0.0		49,750.0		40,902.8		40,902.8		21,701.2
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		40,902.8		21,701.2
TOTAL OF 10.7 YRS						7,449.7		9,039.0		16,221.1		0.0		49,750.0		40,902.8		40,902.8		21,701.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:29 PM SUMMARY - CERTAIN PROPERTIES WYOMING BUSINESS UNIT NEW MEXICO, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		56.7		0.0		0.0		36.9		0.000		0.000		2.685		0.0		0.0		99.1		99.1
12-31-2018		0.0		0.0		221.6		0.0		0.0		144.1		0.000		0.000		2.701		0.0		0.0		389.1		389.1
12-31-2019		0.0		0.0		620.8		0.0		0.0		403.7		0.000		0.000		2.735		0.0		0.0		1,104.1		1,104.1
12-31-2020		0.0		0.0		1,329.8		0.0		0.0		864.8		0.000		0.000		2.820		0.0		0.0		2,438.9		2,438.9
12-31-2021		0.0		0.0		1,497.9		0.0		0.0		974.1		0.000		0.000		2.945		0.0		0.0		2,868.8		2,868.8
12-31-2022		0.0		0.0		1,485.9		0.0		0.0		966.4		0.000		0.000		3.095		0.0		0.0		2,990.8		2,990.8
12-31-2023		0.0		0.0		1,471.1		0.0		0.0		956.7		0.000		0.000		3.095		0.0		0.0		2,960.8		2,960.8
12-31-2024		0.0		0.0		1,383.7		0.0		0.0		899.9		0.000		0.000		3.095		0.0		0.0		2,785.3		2,785.3
12-31-2025		0.0		0.0		1,090.3		0.0		0.0		709.1		0.000		0.000		3.095		0.0		0.0		2,194.5		2,194.5
12-31-2026		0.0		0.0		818.4		0.0		0.0		532.2		0.000		0.000		3.095		0.0		0.0		1,647.2		1,647.2
12-31-2027		0.0		0.0		224.5		0.0		0.0		146.0		0.000		0.000		3.095		0.0		0.0		452.0		452.0
04-30-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.000		0.000		3.004		0.0		0.0		19,930.6		19,930.6
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.000		0.000		3.004		0.0		0.0		19,930.6		19,930.6
CUM PROD		0.0				0.0
ULTIMATE		0.0				10,200.6

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		2,558.6
12-31-2017		10		7.9		5.8		7.2		6,828.2		0.0		120.1		-6,862.2		-6,862.2		-6,375.7		12.000		1,437.4
12-31-2018		12		9.5		23.4		28.6		1,088.8		0.0		241.8		-993.5		-7,855.7		-7,237.8		15.000		652.5
12-31-2019		12		9.5		66.6		81.2		0.0		0.0		333.7		622.6		-7,233.1		-6,770.7		20.000		-487.0
12-31-2020		12		9.5		147.4		178.9		0.0		0.0		487.2		1,625.4		-5,607.7		-5,654.4		25.000		-1,407.2
12-31-2021		12		9.5		173.4		210.2		0.0		0.0		523.6		1,961.6		-3,646.1		-4,426.1		30.000		-2,125.3
12-31-2022		12		9.5		180.6		219.2		0.0		0.0		521.1		2,069.9		-1,576.2		-3,247.7		35.000		-2,676.1
12-31-2023		12		9.5		179.0		217.1		0.0		-11,525.8		517.7		13,572.8		11,996.6		3,990.2		40.000		-3,091.4
12-31-2024		12		9.5		168.0		204.2		0.0		0.0		498.8		1,914.3		13,910.9		4,891.6		45.000		-3,401.2
12-31-2025		12		9.5		132.5		160.7		0.0		0.0		435.4		1,465.9		15,376.8		5,519.9		50.000		-3,627.3
12-31-2026		12		9.5		99.3		120.6		0.0		0.0		404.3		1,023.0		16,399.8		5,919.0
12-31-2027		12		9.5		27.3		33.1		0.0		0.0		308.6		83.0		16,482.8		5,949.2
04-30-2028		0		0.0		0.0		0.0		0.0		12,081.1		0.0		-12,081.1		4,401.7		1,991.3
SUBTOTAL						1,203.3		1,461.0		7,917.0		555.3		4,392.3		4,401.7		4,401.7		1,991.3
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		4,401.7		1,991.3
TOTAL OF 11.8 YRS						1,203.3		1,461.0		7,917.0		555.3		4,392.3		4,401.7		4,401.7		1,991.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES WYOMING BUSINESS UNIT NEW MEXICO, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		0.0
																						15.000		0.0
																						20.000		0.0
																						25.000		0.0
																						30.000		0.0
																						35.000		0.0
																						40.000		0.0
																						45.000		0.0
																						50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES WYOMING BUSINESS UNIT NEW MEXICO, TEXAS, AND WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		0.0
																						15.000		0.0
																						20.000		0.0
																						25.000		0.0
																						30.000		0.0
																						35.000		0.0
																						40.000		0.0
																						45.000		0.0
																						50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES ATLANTIC RIM CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		3,266.7		0.0		0.0		2,063.7		0.000		0.000		2.388		0.0		0.0		4,927.9		4,927.9
12-31-2017		0.0		0.0		8,544.9		0.0		0.0		5,382.4		0.000		0.000		2.685		0.0		0.0		14,451.5		14,451.5
12-31-2018		0.0		0.0		10,815.5		0.0		0.0		6,674.0		0.000		0.000		2.701		0.0		0.0		18,027.0		18,027.0
12-31-2019		0.0		0.0		12,762.3		0.0		0.0		7,778.5		0.000		0.000		2.735		0.0		0.0		21,274.7		21,274.7
12-31-2020		0.0		0.0		14,425.9		0.0		0.0		8,761.1		0.000		0.000		2.820		0.0		0.0		24,705.9		24,705.9
12-31-2021		0.0		0.0		15,132.0		0.0		0.0		9,185.1		0.000		0.000		2.945		0.0		0.0		27,050.6		27,050.6
12-31-2022		0.0		0.0		13,835.1		0.0		0.0		8,371.6		0.000		0.000		3.095		0.0		0.0		25,909.8		25,909.8
12-31-2023		0.0		0.0		11,906.9		0.0		0.0		7,198.8		0.000		0.000		3.095		0.0		0.0		22,280.1		22,280.1
12-31-2024		0.0		0.0		9,714.4		0.0		0.0		5,887.4		0.000		0.000		3.095		0.0		0.0		18,222.3		18,222.3
12-31-2025		0.0		0.0		7,458.2		0.0		0.0		4,526.2		0.000		0.000		3.095		0.0		0.0		14,009.6		14,009.6
12-31-2026		0.0		0.0		5,547.5		0.0		0.0		3,367.6		0.000		0.000		3.095		0.0		0.0		10,422.3		10,422.3
12-31-2027		0.0		0.0		1,504.8		0.0		0.0		913.6		0.000		0.000		3.095		0.0		0.0		2,827.8		2,827.8
04-30-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		114,914.2		0.0		0.0		70,110.0		0.000		0.000		2.911		0.0		0.0		204,109.5		204,109.5
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		114,914.2		0.0		0.0		70,110.0		0.000		0.000		2.911		0.0		0.0		204,109.5		204,109.5
CUM PROD		231.8				158,744.7
ULTIMATE		231.8				273,658.9

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		160		119.3		297.8		361.0		0.0		0.0		3,184.4		1,084.7		1,084.7		1,060.2		8.000		30,888.9
12-31-2017		184		137.0		873.1		1,059.1		12,451.6		476.5		8,020.2		-8,429.0		-7,344.3		-6,732.7		12.000		25,167.5
12-31-2018		191		141.8		1,088.6		1,320.2		4,645.6		0.0		8,802.1		2,170.5		-5,173.8		-4,977.4		15.000		21,582.7
12-31-2019		186		138.1		1,285.0		1,559.9		3,401.3		0.0		9,349.7		5,678.8		505.0		-686.3		20.000		16,707.8
12-31-2020		191		141.9		1,491.1		1,811.4		3,639.6		0.0		9,862.8		7,901.0		8,406.0		4,755.1		25.000		12,920.6
12-31-2021		183		136.0		1,633.6		1,982.5		0.0		0.0		10,022.7		13,411.8		21,817.8		13,154.1		30.000		9,969.3
12-31-2022		241		180.9		1,566.1		1,898.8		0.0		0.0		9,656.6		12,788.3		34,606.1		20,443.8		35.000		7,650.2
12-31-2023		163		120.9		1,345.5		1,632.6		0.0		0.0		9,001.9		10,300.1		44,906.2		25,784.4		40.000		5,821.8
12-31-2024		148		109.4		1,100.1		1,335.4		0.0		0.0		8,378.0		7,408.8		52,315.0		29,280.0		45.000		4,357.9
12-31-2025		138		102.0		845.9		1,026.1		0.0		0.0		7,776.2		4,361.4		56,676.4		31,153.6		50.000		3,189.9
12-31-2026		133		98.0		629.4		763.3		0.0		0.0		7,358.0		1,671.6		58,348.0		31,809.9
12-31-2027		130		95.7		170.3		207.5		0.0		0.0		2,363.4		86.6		58,434.6		31,840.8
04-30-2028		0		0.0		0.0		0.0		0.0		12,081.1		0.0		-12,081.1		46,353.5		27,882.9
SUBTOTAL						12,326.5		14,957.8		24,138.1		12,557.6		93,776.0		46,353.5		46,353.5		27,882.9
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		46,353.5		27,882.9
TOTAL OF 11.8 YRS						12,326.5		14,957.8		24,138.1		12,557.6		93,776.0		46,353.5		46,353.5		27,882.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES ATLANTIC RIM CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		3,266.7		0.0		0.0		2,063.7		0.000		0.000		2.388		0.0		0.0		4,927.9		4,927.9
12-31-2017		0.0		0.0		7,825.5		0.0		0.0		4,963.5		0.000		0.000		2.685		0.0		0.0		13,326.8		13,326.8
12-31-2018		0.0		0.0		7,118.9		0.0		0.0		4,534.9		0.000		0.000		2.701		0.0		0.0		12,248.7		12,248.7
12-31-2019		0.0		0.0		6,232.0		0.0		0.0		3,985.7		0.000		0.000		2.735		0.0		0.0		10,900.9		10,900.9
12-31-2020		0.0		0.0		5,438.1		0.0		0.0		3,486.7		0.000		0.000		2.820		0.0		0.0		9,832.3		9,832.3
12-31-2021		0.0		0.0		4,409.1		0.0		0.0		2,831.3		0.000		0.000		2.945		0.0		0.0		8,338.6		8,338.6
12-31-2022		0.0		0.0		624.1		0.0		0.0		400.9		0.000		0.000		3.095		0.0		0.0		1,241.1		1,241.1
02-28-2023		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.000		0.000		2.731		0.0		0.0		60,816.3		60,816.3
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.000		0.000		2.731		0.0		0.0		60,816.3		60,816.3
CUM PROD		231.8				158,697.5
ULTIMATE		231.8				193,611.9

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		115		87.5		297.8		361.0		0.0		0.0		3,184.4		1,084.7		1,084.7		1,060.2		8.000		3,781.9
12-31-2017		113		85.9		805.1		976.9		0.0		476.5		7,620.6		3,447.7		4,532.4		4,225.0		12.000		4,523.7
12-31-2018		110		83.6		740.0		897.1		0.0		0.0		7,378.6		3,233.0		7,765.4		6,924.8		15.000		4,907.9
12-31-2019		100		76.5		659.0		799.3		0.0		0.0		7,087.8		2,354.8		10,120.2		8,715.7		20.000		5,315.5
12-31-2020		96		73.7		593.0		720.8		0.0		0.0		6,845.1		1,673.4		11,793.6		9,873.4		25.000		5,520.8
12-31-2021		87		67.1		503.6		611.5		0.0		0.0		6,470.3		753.2		12,546.8		10,351.9		30.000		5,595.3
12-31-2022		79		61.0		75.0		91.2		0.0		0.0		1,046.9		28.0		12,574.8		10,369.0		35.000		5,586.3
02-28-2023		0		0.0		0.0		0.0		0.0		11,525.8		0.0		-11,525.8		1,049.0		4,190.4		40.000		5,520.2
																						45.000		5,420.7
																						50.000		5,303.8
SUBTOTAL						3,673.5		4,457.8		0.0		12,002.3		39,633.7		1,049.0		1,049.0		4,190.4
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		1,049.0		4,190.4
TOTAL OF 6.6 YRS						3,673.5		4,457.8		0.0		12,002.3		39,633.7		1,049.0		1,049.0		4,190.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES ATLANTIC RIM CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		662.7		0.0		0.0		382.0		0.000		0.000		2.685		0.0		0.0		1,025.6		1,025.6
12-31-2018		0.0		0.0		3,475.0		0.0		0.0		1,995.0		0.000		0.000		2.701		0.0		0.0		5,389.2		5,389.2
12-31-2019		0.0		0.0		5,909.5		0.0		0.0		3,389.1		0.000		0.000		2.735		0.0		0.0		9,269.7		9,269.7
12-31-2020		0.0		0.0		7,658.0		0.0		0.0		4,409.6		0.000		0.000		2.820		0.0		0.0		12,434.7		12,434.7
12-31-2021		0.0		0.0		9,225.0		0.0		0.0		5,379.7		0.000		0.000		2.945		0.0		0.0		15,843.2		15,843.2
12-31-2022		0.0		0.0		11,725.1		0.0		0.0		7,004.4		0.000		0.000		3.095		0.0		0.0		21,677.9		21,677.9
12-31-2023		0.0		0.0		10,435.8		0.0		0.0		6,242.1		0.000		0.000		3.095		0.0		0.0		19,319.3		19,319.3
12-31-2024		0.0		0.0		8,330.7		0.0		0.0		4,987.6		0.000		0.000		3.095		0.0		0.0		15,437.0		15,437.0
12-31-2025		0.0		0.0		6,367.9		0.0		0.0		3,817.1		0.000		0.000		3.095		0.0		0.0		11,815.1		11,815.1
12-31-2026		0.0		0.0		4,729.1		0.0		0.0		2,835.3		0.000		0.000		3.095		0.0		0.0		8,775.1		8,775.1
04-30-2027		0.0		0.0		1,280.3		0.0		0.0		767.6		0.000		0.000		3.095		0.0		0.0		2,375.8		2,375.8
SUBTOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.000		0.000		2.994		0.0		0.0		123,362.6		123,362.6
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.000		0.000		2.994		0.0		0.0		123,362.6		123,362.6
CUM PROD		0.0				47.2
ULTIMATE		0.0				69,846.4

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		45		31.8		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		24,548.4
12-31-2017		61		43.1		62.2		75.0		5,623.4		0.0		279.5		-5,014.5		-5,014.5		-4,582.0		12.000		19,206.4
12-31-2018		69		48.7		325.2		394.5		3,556.8		0.0		1,181.7		-69.0		-5,083.5		-4,664.4		15.000		16,022.3
12-31-2019		74		52.1		559.4		679.4		3,401.3		0.0		1,928.2		2,701.4		-2,382.1		-2,631.3		20.000		11,879.3
12-31-2020		83		58.7		750.7		911.7		3,639.6		0.0		2,530.5		4,602.2		2,220.1		536.1		25.000		8,807.0
12-31-2021		84		59.4		956.6		1,160.8		0.0		0.0		3,028.8		10,697.0		12,917.1		7,228.3		30.000		6,499.3
12-31-2022		150		110.4		1,310.5		1,588.4		0.0		0.0		8,088.6		10,690.4		23,607.5		13,322.5		35.000		4,740.0
12-31-2023		151		111.4		1,166.5		1,415.5		0.0		0.0		8,484.2		8,253.1		31,860.6		17,603.8		40.000		3,393.0
12-31-2024		136		99.9		932.1		1,131.2		0.0		0.0		7,879.2		5,494.5		37,355.1		20,198.0		45.000		2,338.4
12-31-2025		126		92.5		713.4		865.4		0.0		0.0		7,340.8		2,895.5		40,250.6		21,443.3		50.000		1,513.4
12-31-2026		121		88.5		530.1		642.7		0.0		0.0		6,953.7		648.6		40,899.2		21,700.5
04-30-2027		118		86.2		143.0		174.4		0.0		0.0		2,054.8		3.6		40,902.8		21,701.2
SUBTOTAL						7,449.7		9,039.0		16,221.1		0.0		49,750.0		40,902.8		40,902.8		21,701.2
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		40,902.8		21,701.2
TOTAL OF 10.7 YRS						7,449.7		9,039.0		16,221.1		0.0		49,750.0		40,902.8		40,902.8		21,701.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES ATLANTIC RIM CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		56.7		0.0		0.0		36.9		0.000		0.000		2.685		0.0		0.0		99.1		99.1
12-31-2018		0.0		0.0		221.6		0.0		0.0		144.1		0.000		0.000		2.701		0.0		0.0		389.1		389.1
12-31-2019		0.0		0.0		620.8		0.0		0.0		403.7		0.000		0.000		2.735		0.0		0.0		1,104.1		1,104.1
12-31-2020		0.0		0.0		1,329.8		0.0		0.0		864.8		0.000		0.000		2.820		0.0		0.0		2,438.9		2,438.9
12-31-2021		0.0		0.0		1,497.9		0.0		0.0		974.1		0.000		0.000		2.945		0.0		0.0		2,868.8		2,868.8
12-31-2022		0.0		0.0		1,485.9		0.0		0.0		966.4		0.000		0.000		3.095		0.0		0.0		2,990.8		2,990.8
12-31-2023		0.0		0.0		1,471.1		0.0		0.0		956.7		0.000		0.000		3.095		0.0		0.0		2,960.8		2,960.8
12-31-2024		0.0		0.0		1,383.7		0.0		0.0		899.9		0.000		0.000		3.095		0.0		0.0		2,785.3		2,785.3
12-31-2025		0.0		0.0		1,090.3		0.0		0.0		709.1		0.000		0.000		3.095		0.0		0.0		2,194.5		2,194.5
12-31-2026		0.0		0.0		818.4		0.0		0.0		532.2		0.000		0.000		3.095		0.0		0.0		1,647.2		1,647.2
12-31-2027		0.0		0.0		224.5		0.0		0.0		146.0		0.000		0.000		3.095		0.0		0.0		452.0		452.0
04-30-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.000		0.000		3.004		0.0		0.0		19,930.6		19,930.6
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.000		0.000		3.004		0.0		0.0		19,930.6		19,930.6
CUM PROD		0.0				0.0
ULTIMATE		0.0				10,200.6

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		2,558.6
12-31-2017		10		7.9		5.8		7.2		6,828.2		0.0		120.1		-6,862.2		-6,862.2		-6,375.7		12.000		1,437.4
12-31-2018		12		9.5		23.4		28.6		1,088.8		0.0		241.8		-993.5		-7,855.7		-7,237.8		15.000		652.5
12-31-2019		12		9.5		66.6		81.2		0.0		0.0		333.7		622.6		-7,233.1		-6,770.7		20.000		-487.0
12-31-2020		12		9.5		147.4		178.9		0.0		0.0		487.2		1,625.4		-5,607.7		-5,654.4		25.000		-1,407.2
12-31-2021		12		9.5		173.4		210.2		0.0		0.0		523.6		1,961.6		-3,646.1		-4,426.1		30.000		-2,125.3
12-31-2022		12		9.5		180.6		219.2		0.0		0.0		521.1		2,069.9		-1,576.2		-3,247.7		35.000		-2,676.1
12-31-2023		12		9.5		179.0		217.1		0.0		-11,525.8		517.7		13,572.8		11,996.6		3,990.2		40.000		-3,091.4
12-31-2024		12		9.5		168.0		204.2		0.0		0.0		498.8		1,914.3		13,910.9		4,891.6		45.000		-3,401.2
12-31-2025		12		9.5		132.5		160.7		0.0		0.0		435.4		1,465.9		15,376.8		5,519.9		50.000		-3,627.3
12-31-2026		12		9.5		99.3		120.6		0.0		0.0		404.3		1,023.0		16,399.8		5,919.0
12-31-2027		12		9.5		27.3		33.1		0.0		0.0		308.6		83.0		16,482.8		5,949.2
04-30-2028		0		0.0		0.0		0.0		0.0		12,081.1		0.0		-12,081.1		4,401.7		1,991.3
SUBTOTAL						1,203.3		1,461.0		7,917.0		555.3		4,392.3		4,401.7		4,401.7		1,991.3
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		4,401.7		1,991.3
TOTAL OF 11.8 YRS						1,203.3		1,461.0		7,917.0		555.3		4,392.3		4,401.7		4,401.7		1,991.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES ATLANTIC RIM CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		0.0
																						15.000		0.0
																						20.000		0.0
																						25.000		0.0
																						30.000		0.0
																						35.000		0.0
																						40.000		0.0
																						45.000		0.0
																						50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES ATLANTIC RIM CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED			DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD	CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$	M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		12.000		0.0
																					15.000		0.0
																					20.000		0.0
																					25.000		0.0
																					30.000		0.0
																					35.000		0.0
																					40.000		0.0
																					45.000		0.0
																					50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0			0.0		0.0
REMAINING						0.0		0.0		0.0		0.0		0.0			0.0		0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0			0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES							AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL			GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL			MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0			0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0			0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0	��		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0			0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0			0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.2				68,533.3
ULTIMATE		0.2				68,533.3

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		-442.7
07-31-2017		0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-476.5		-434.9		12.000		-427.5
																						15.000		-416.8
																						20.000		-400.2
																						25.000		-384.8
																						30.000		-370.6
																						35.000		-357.4
																						40.000		-345.2
																						45.000		-333.8
																						50.000		-323.1
SUBTOTAL						0.0		0.0		0.0		476.5		0.0		-476.5		-476.5		-434.9
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		-476.5		-434.9
TOTAL OF 1.0 YRS						0.0		0.0		0.0		476.5		0.0		-476.5		-476.5		-434.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.2				68,533.3
ULTIMATE		0.2				68,533.3

	NUMBER OF ACTIVE COMPLETIONS				NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y					TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		-442.7
07-31-2017		0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-476.5		-434.9		12.000		-427.5
																						15.000		-416.8
																						20.000		-400.2
																						25.000		-384.8
																						30.000		-370.6
																						35.000		-357.4
																						40.000		-345.2
																						45.000		-333.8
																						50.000		-323.1
SUBTOTAL						0.0		0.0		0.0		476.5		0.0		-476.5		-476.5		-434.9
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		-476.5		-434.9
TOTAL OF 1.0 YRS						0.0		0.0		0.0		476.5		0.0		-476.5		-476.5		-434.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL					GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL					$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END			START		END		START		END		YRS
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
001600	1691-11-06		0		0		0.0		1,034.2		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000	��		0.000		0.000		0.0		0.0		0.0
001150	1691-13-06		0		0		0.0		1,691.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001130	1691-22-06		0		0		0.0		968.9		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001410	1691-31-06		0		0		0.0		1,857.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001140	1691-33-06		0		0		0.0		2,169.9		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001420	1691-40-06		0		0		0.0		889.9		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001610	1691-42-06		0		0		0.0		1,392.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001620	1691-44-06		0		0		0.0		1,601.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001190	1691-24-07		0		0		0.0		640.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001200	1691-31-07		0		0		0.0		1,032.7		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001220	1691-33-07		0		0		0.0		1,532.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001630	1691-42-07		0		0		0.0		1,862.7		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001280	1691-44-07		0		0		0.0		1,034.9		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009510	1691-11-18		0		0		0.0		1,116.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009330	1691-22-18		0		0		0.0		1,180.7		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009320	1691-31-18		0		0		0.0		389.1		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009460	1691-42-18		0		0		0.0		1,300.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001450	1692-20-01		0		0		0.0		391.1		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001430	1692-22-01		0		0		0.0		280.1		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001440	1692-31-01		0		0		0.0		469.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
000180	1692-33-01		0		0		0.0		1,510.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001470	1692-40-01		0		0		0.0		641.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
000190	1692-42-01		0		0		0.0		708.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009590	1692-24-12		0		0		0.0		183.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001460	1692-22-13		0		0		0.0		315.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001240	1692-31-13		0		0		0.0		527.8		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009680	1692-33-13		0		0		0.0		1,655.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009420	1791-13-27		0		0		0.0		792.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009450	1791-24-27		0		0		0.0		592.8		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009280	1791-33-27		0		0		0.0		229.2		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
009400	1791-44-27		0		0		0.0		893.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001290	1791-13-31		0		0		0.0		481.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
002340	1791-22-31		0		0		0.0		788.2		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001330	1791-24-31		0		0		0.0		445.1		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
002350	1791-31-31		0		0		0.0		309.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001300	1791-33-31		0		0		0.0		1,187.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
002360	1791-42-31		0		0		0.0		2,006.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001310	1791-44-31		0		0		0.0		1,326.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0	��
003030	1791-11-32		0		0		0.0		903.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
001640	1791-13-32		0		0		0.0		1,254.2		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
002380	1791-22-32		0		0		0.0		1,619.8		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
001600	1691-11-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001150	1691-13-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001130	1691-22-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001410	1691-31-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001140	1691-33-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001420	1691-40-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001610	1691-42-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001620	1691-44-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001190	1691-24-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001200	1691-31-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001220	1691-33-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001630	1691-42-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001280	1691-44-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009510	1691-11-18		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009330	1691-22-18		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009320	1691-31-18		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009460	1691-42-18		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001450	1692-20-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001430	1692-22-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001440	1692-31-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000180	1692-33-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001470	1692-40-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000190	1692-42-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009590	1692-24-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001460	1692-22-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001240	1692-31-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009680	1692-33-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009420	1791-13-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009450	1791-24-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009280	1791-33-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009400	1791-44-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001290	1791-13-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002340	1791-22-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001330	1791-24-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002350	1791-31-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001300	1791-33-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002360	1791-42-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001310	1791-44-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003030	1791-11-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001640	1791-13-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002380	1791-22-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
CATALINA UNIT FIELD, CARBON COUNTY (CONTINUED)
001320	1791-24-32		0		0		0.0		1,118.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002390	1791-31-32		0		0		0.0		242.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002400	1791-33-32		0		0		0.0		1,145.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002410	1791-42-32		0		0		0.0		822.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002370	1791-44-32		0		0		0.0		1,138.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002420	1791-11-33		0		0		0.0		600.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002430	1791-13-33		0		0		0.0		127.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002440	1791-22-33		0		0		0.0		1,463.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002460	1791-24-33		0		0		0.0		476.3		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
009240	1791-31-33		0		0		0.0		120.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002480	1791-33-33		0		0		0.0		588.8		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002490	1791-42-33		0		0		0.0		386.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002500	1791-44-33		0		0		0.0		432.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002510	1791-11-34		0		0		0.0		636.9		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002520	1791-22-34		0		0		0.0		260.7		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
009380	1792-44-36		0		0		0.0		324.7		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001070	COW CRK 1X-12		0		0		0.0		439.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001030	COW CRK 11-07		0		0		0.0		2,521.1		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001000	COW CRK 12-12		0		0		0.0		452.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001120	COW CRK 13-07		0		0		0.1		2,178.7		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001050	COW CRK 14-07		0		0		0.0		1,842.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000990	COW CRK 21-12		0		0		0.0		483.9		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001040	COW CRK 22-07		0		0		0.0		1,114.5		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001100	COW CRK 24-06		0		0		0.0		1,986.2		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001090	COW CRK 32-12		0		0		0.1		968.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001020	COW CRK 36-12		0		0		0.0		1,702.1		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001110	COW CRK 42-12		0		0		0.0		1,238.4		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001060	COW CRK 43-12		0		0		0.1		1,583.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001010	COW CRK 44-01		0		0		0.0		321.2		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001080	COW CRK 44-12		0		0		0.0		609.6		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005710	FE CATALINA PDP		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
019580	ABAN CAT PDP G		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		1.0
	FIELD TOTAL		0		0		0.2		68,533.3
	PROSPECT TOTAL		0		0		0.2		68,533.3
TOTAL WYOMING			0		0		0.2		68,533.3
TOTAL ALL LEASES			0		0		0.2		68,533.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
		OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
CATALINA UNIT FIELD, CARBON COUNTY (CONTINUED)
001320	1791-24-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002390	1791-31-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002400	1791-33-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002410	1791-42-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002370	1791-44-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002420	1791-11-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002430	1791-13-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002440	1791-22-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002460	1791-24-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009240	1791-31-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002480	1791-33-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002490	1791-42-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002500	1791-44-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002510	1791-11-34		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002520	1791-22-34		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009380	1792-44-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001070	COW CRK 1X-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001030	COW CRK 11-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001000	COW CRK 12-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001120	COW CRK 13-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001050	COW CRK 14-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000990	COW CRK 21-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001040	COW CRK 22-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001100	COW CRK 24-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001090	COW CRK 32-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001020	COW CRK 36-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001110	COW CRK 42-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001060	COW CRK 43-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001010	COW CRK 44-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001080	COW CRK 44-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005710	FE CATALINA PDP		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019580	ABAN CAT PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-434.9
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-434.9
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-434.9
	TOTAL WYOMING		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-434.9
	TOTAL ALL LEASES		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		476.5		0.0		-476.5		-434.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		0.0
																						15.000		0.0
																						20.000		0.0
																						25.000		0.0
																						30.000		0.0
																						35.000		0.0
																						40.000		0.0
																						45.000		0.0
																						50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
012380	1691-03-06		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003020	1692-04-01		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001540	1692-12-01		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015290	1692-08-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003210	1692-08-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001560	1692-44-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002940	1692-04-13		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015980	1692-12-13		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001500	1692-24-13		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000200	1692-44-13		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002450	1692-08-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015140	1692-02-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015380	1692-08-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015860	1791-05-31		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015920	1792-10-36		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001550	1792-15-36		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016200	CAT PUD INJ 1		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016210	CAT PUD INJ 2		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
005720	FE CATALINA PUD		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011600	WTR DISP CAP PUD		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
019600	ABAN CAT PUD G		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		1.0
	FIELD TOTAL		0		0		0.0		0.0
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL WYOMING		0		0		0.0		0.0
	TOTAL ALL LEASES		0		0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
012380	1691-03-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003020	1692-04-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001540	1692-12-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015290	1692-08-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003210	1692-08-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001560	1692-44-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002940	1692-04-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015980	1692-12-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001500	1692-24-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000200	1692-44-13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002450	1692-08-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015140	1692-02-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015380	1692-08-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015860	1791-05-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015920	1792-10-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001550	1792-15-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016200	CAT PUD INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016210	CAT PUD INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
005720	FE CATALINA PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011600	WTR DISP CAP PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019600	ABAN CAT PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL WYOMING		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL ALL LEASES		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

PERIOD ENDING M-D-Y					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED					DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM			CUM		DISC RATE		CUM PW
	GROSS		NET		M$		M$		M$		M$		M$		M$		M$			M$		%		M$
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		12.000		0.0
																			��				15.000		0.0
																							20.000		0.0
																							25.000		0.0
																							30.000		0.0
																							35.000		0.0
																							40.000		0.0
																							45.000		0.0
																							50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
015200	1691-04-30		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015120	1692-02-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015270	1692-06-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013870	1692-10-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015080	1692-16-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015100	1692-02-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015210	1692-06-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013830	1692-10-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014970	1692-14-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015110	1692-02-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015260	1692-06-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013850	1692-10-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015070	1692-16-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015190	1692-04-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015280	1692-06-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013880	1692-10-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015090	1692-16-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015930	1792-11-36		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016220	CAT PRB INJ 1		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016230	CAT PRB INJ 2		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016240	CAT PRB INJ 3		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016350	FE CATALINA PRB		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020970	ABAN CAT PRB G		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		1.0
	FIELD TOTAL		0		0		0.0		0.0
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL WYOMING		0		0		0.0		0.0
	TOTAL ALL LEASES		0		0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
015200	1691-04-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015120	1692-02-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015270	1692-06-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013870	1692-10-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015080	1692-16-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015100	1692-02-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015210	1692-06-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013830	1692-10-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014970	1692-14-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015110	1692-02-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015260	1692-06-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013850	1692-10-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015070	1692-16-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015190	1692-04-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015280	1692-06-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013880	1692-10-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015090	1692-16-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015930	1792-11-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016220	CAT PRB INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016230	CAT PRB INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016240	CAT PRB INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016350	FE CATALINA PRB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020970	ABAN CAT PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL WYOMING		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL ALL LEASES		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
07-31-2017		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
CUM PROD		0.0				0.0
ULTIMATE		0.0				0.0

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION M$		AD VALOREM M$								PERIOD M$		CUM M$		CUM M$		DISC RATE %		CUM PW M$
M-D-Y	GROSS		NET
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		0.0
07-31-2017		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		12.000		0.0
																						15.000		0.0
																						20.000		0.0
																						25.000		0.0
																						30.000		0.0
																						35.000		0.0
																						40.000		0.0
																						45.000		0.0
																						50.000		0.0
SUBTOTAL						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
TOTAL OF 1.0 YRS						0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

LEASE NUMB ER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
014950	1691-12-30		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015060	1691-14-30		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014930	1692-12-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015020	1692-14-02		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015170	1692-04-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014900	1692-12-11		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015180	1692-04-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014920	1692-12-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014990	1692-14-14		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015130	1692-02-23		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015370	1692-08-23		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014940	1692-12-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015040	1692-14-24		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015150	1692-02-25		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015390	1692-08-25		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016250	CAT POS INJ 1		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016260	CAT POS INJ 2		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016270	CAT POS INJ 3		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016360	FE CATALINA POS		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021340	ABAN CAT POS G		0		0		0.0		0.0		13.424		13.424		11.212		11.212		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		1.0
	FIELD TOTAL		0		0		0.0		0.0
	PROSPECT TOTAL		0		0		0.0		0.0
TOTAL WYOMING			0		0		0.0		0.0
TOTAL ALL LEASES			0		0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES CATALINA UNIT FIELD CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
CATALINA UNIT FIELD, CARBON COUNTY
014950	1691-12-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015060	1691-14-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014930	1692-12-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015020	1692-14-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015170	1692-04-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014900	1692-12-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015180	1692-04-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014920	1692-12-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014990	1692-14-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015130	1692-02-23		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015370	1692-08-23		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014940	1692-12-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015040	1692-14-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015150	1692-02-25		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015390	1692-08-25		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016250	CAT POS INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016260	CAT POS INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016270	CAT POS INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016360	FE CATALINA POS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021340	ABAN CAT POS G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL WYOMING		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL ALL LEASES		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   TOTAL PROVED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING M-D-Y	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		3,266.7		0.0		0.0		2,063.7		0.000		0.000		2.388		0.0		0.0		4,927.9		4,927.9
12-31-2017		0.0		0.0		8,544.9		0.0		0.0		5,382.4		0.000		0.000		2.685		0.0		0.0		14,451.5		14,451.5
12-31-2018		0.0		0.0		10,815.5		0.0		0.0		6,674.0		0.000		0.000		2.701		0.0		0.0		18,027.0		18,027.0
12-31-2019		0.0		0.0		12,762.3		0.0		0.0		7,778.5		0.000		0.000		2.735		0.0		0.0		21,274.7		21,274.7
12-31-2020		0.0		0.0		14,425.9		0.0		0.0		8,761.1		0.000		0.000		2.820		0.0		0.0		24,705.9		24,705.9
12-31-2021		0.0		0.0		15,132.0		0.0		0.0		9,185.1		0.000		0.000		2.945		0.0		0.0		27,050.6		27,050.6
12-31-2022		0.0		0.0		13,835.1		0.0		0.0		8,371.6		0.000		0.000		3.095		0.0		0.0		25,909.8		25,909.8
12-31-2023		0.0		0.0		11,906.9		0.0		0.0		7,198.8		0.000		0.000		3.095		0.0		0.0		22,280.1		22,280.1
12-31-2024		0.0		0.0		9,714.4		0.0		0.0		5,887.4		0.000		0.000		3.095		0.0		0.0		18,222.3		18,222.3
12-31-2025		0.0		0.0		7,458.2		0.0		0.0		4,526.2		0.000		0.000		3.095		0.0		0.0		14,009.6		14,009.6
12-31-2026		0.0		0.0		5,547.5		0.0		0.0		3,367.6		0.000		0.000		3.095		0.0		0.0		10,422.3		10,422.3
12-31-2027		0.0		0.0		1,504.8		0.0		0.0		913.6		0.000		0.000		3.095		0.0		0.0		2,827.8		2,827.8
04-30-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		114,914.2		0.0		0.0		70,110.0		0.000		0.000		2.911		0.0		0.0		204,109.5		204,109.5
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		114,914.2		0.0		0.0		70,110.0		0.000		0.000		2.911		0.0		0.0		204,109.5		204,109.5
CUM PROD		231.6				90,211.5
ULTIMATE		231.6				205,125.7

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF ACTIVE COMPLETIONS				TAXES				CAPITAL COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING					PRODUCTION M$		AD VALOREM M$								PERIOD M$		CUM M$		CUM M$		DISC RATE %		CUM PW M$
M-D-Y	GROSS		NET
12-31-2016		160		119.3		297.8		361.0		0.0		0.0		3,184.4		1,084.7		1,084.7		1,060.2		8.000		31,331.6
12-31-2017		184		137.0		873.1		1,059.1		12,451.6		0.0		8,020.2		-7,952.5		-6,867.8		-6,297.8		12.000		25,595.0
12-31-2018		191		141.8		1,088.6		1,320.2		4,645.6		0.0		8,802.1		2,170.5		-4,697.3		-4,542.5		15.000		21,999.5
12-31-2019		186		138.1		1,285.0		1,559.9		3,401.3		0.0		9,349.7		5,678.8		981.5		-251.4		20.000		17,108.0
12-31-2020		191		141.9		1,491.1		1,811.4		3,639.6		0.0		9,862.8		7,901.0		8,882.5		5,190.0		25.000		13,305.4
12-31-2021		183		136.0		1,633.6		1,982.5		0.0		0.0		10,022.7		13,411.8		22,294.3		13,589.0		30.000		10,339.9
12-31-2022		241		180.9		1,566.1		1,898.8		0.0		0.0		9,656.6		12,788.3		35,082.6		20,878.7		35.000		8,007.6
12-31-2023		163		120.9		1,345.5		1,632.6		0.0		0.0		9,001.9		10,300.1		45,382.7		26,219.3		40.000		6,167.0
12-31-2024		148		109.4		1,100.1		1,335.4		0.0		0.0		8,378.0		7,408.8		52,791.5		29,714.9		45.000		4,691.7
12-31-2025		138		102.0		845.9		1,026.1		0.0		0.0		7,776.2		4,361.4		57,152.9		31,588.5		50.000		3,513.0
12-31-2026		133		98.0		629.4		763.3		0.0		0.0		7,358.0		1,671.6		58,824.5		32,244.8
12-31-2027		130		95.7		170.3		207.5		0.0		0.0		2,363.4		86.6		58,911.1		32,275.7
04-30-2028		0		0.0		0.0		0.0		0.0		12,081.1		0.0		-12,081.1		46,830.0		28,317.8
SUBTOTAL						12,326.5		14,957.8		24,138.1		12,081.1		93,776.0		46,830.0		46,830.0		28,317.8
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		46,830.0		28,317.8
TOTAL OF 11.8 YRS						12,326.5		14,957.8		24,138.1		12,081.1		93,776.0		46,830.0		46,830.0		28,317.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

PERIOD	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
ENDING	OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TOTAL
M-D-Y	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		$/BBL		$/BBL		$/MCF		M$		M$		M$		M$
12-31-2016		0.0		0.0		3,266.7		0.0		0.0		2,063.7		0.000		0.000		2.388		0.0		0.0		4,927.9		4,927.9
12-31-2017		0.0		0.0		7,825.5		0.0		0.0		4,963.5		0.000		0.000		2.685		0.0		0.0		13,326.8		13,326.8
12-31-2018		0.0		0.0		7,118.9		0.0		0.0		4,534.9		0.000		0.000		2.701		0.0		0.0		12,248.7		12,248.7
12-31-2019		0.0		0.0		6,232.0		0.0		0.0		3,985.7		0.000		0.000		2.735		0.0		0.0		10,900.9		10,900.9
12-31-2020		0.0		0.0		5,438.1		0.0		0.0		3,486.7		0.000		0.000		2.820		0.0		0.0		9,832.3		9,832.3
12-31-2021		0.0		0.0		4,409.1		0.0		0.0		2,831.3		0.000		0.000		2.945		0.0		0.0		8,338.6		8,338.6
12-31-2022		0.0		0.0		624.1		0.0		0.0		400.9		0.000		0.000		3.095		0.0		0.0		1,241.1		1,241.1
02-28-2023		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.000		0.000		2.731		0.0		0.0		60,816.3		60,816.3
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.000		0.000		2.731		0.0		0.0		60,816.3		60,816.3
CUM PROD		231.6				90,164.2
ULTIMATE		231.6				125,078.7

					NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
PERIOD	NUMBER OF				TAXES				CAPITAL		ABDNMNT		OPERATING		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
ENDING	ACTIVE COMPLETIONS				PRODUCTION		AD VALOREM		COST		COST		EXPENSE		PERIOD		CUM		CUM		DISC RATE		CUM PW
M-D-Y	GROSS		NET		M$		M$		M$		M$		M$		M$		M$		M$		%		M$
12-31-2016		115		87.5		297.8		361.0		0.0		0.0		3,184.4		1,084.7		1,084.7		1,060.2		8.000		4,224.6
12-31-2017		113		85.9		805.1		976.9		0.0		0.0		7,620.6		3,924.2		5,008.9		4,659.9		12.000		4,951.2
12-31-2018		110		83.6		740.0		897.1		0.0		0.0		7,378.6		3,233.0		8,241.9		7,359.7		15.000		5,324.7
12-31-2019		100		76.5		659.0		799.3		0.0		0.0		7,087.8		2,354.8		10,596.7		9,150.6		20.000		5,715.7
12-31-2020		96		73.7		593.0		720.8		0.0		0.0		6,845.1		1,673.4		12,270.1		10,308.3		25.000		5,905.6
12-31-2021		87		67.1		503.6		611.5		0.0		0.0		6,470.3		753.2		13,023.3		10,786.8		30.000		5,965.9
12-31-2022		79		61.0		75.0		91.2		0.0		0.0		1,046.9		28.0		13,051.3		10,803.9		35.000		5,943.7
02-28-2023		0		0.0		0.0		0.0		0.0		11,525.8		0.0		-11,525.8		1,525.5		4,625.3		40.000		5,865.4
																						45.000		5,754.5
																						50.000		5,626.9
SUBTOTAL						3,673.5		4,457.8		0.0		11,525.8		39,633.7		1,525.5		1,525.5		4,625.3
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		1,525.5		4,625.3
TOTAL OF 6.6 YRS						3,673.5		4,457.8		0.0		11,525.8		39,633.7		1,525.5		1,525.5		4,625.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

			ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE			COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME		OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019740	FE ATL RIM OP PDP			0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		235.3		235.3		5.6
022980	PLANT EXPENSE PDP	��		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		224.8		224.8		5.6
	FIELD TOTAL			0		0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
012990	1790-01-07			0		0		0.0		0.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012970	1790-05-07			0		1		0.0		637.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.0		4.2		5.6
012980	1790-07-07			0		1		0.0		639.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		4.0		5.6
000290	1790-09-07			0		1		0.0		639.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.9		3.9		5.6
013000	1790-11-07			0		1		0.0		688.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		4.0		5.6
011770	1790-13-07			0		1		0.0		696.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.5		3.9		5.6
002300	1790-15-07			0		1		0.0		676.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		3.9		5.6
011780	1790-03-18			0		1		0.0		691.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.4		3.3		5.6
011750	1790-05-18			0		1		0.0		648.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.9		3.9		5.6
013010	1790-07-18			0		1		0.0		672.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		4.0		5.6
013040	1790-10-18			0		1		0.0		655.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.0		4.0		5.6
011790	1790-11-18			0		1		0.0		634.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		4.0		5.6
011800	1790-03-19			0		1		0.0		702.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.3		3.4		5.6
012950	1791-11-01			0		0		0.0		6.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013060	1791-13-01			0		0		0.0		17.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012960	1791-15-01			0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000830	1791-03-11 SI			0		0		0.0	��	1.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000780	1791-05-11 SI			0		0		0.0		4.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000810	1791-07-11 SI			0		0		0.0		1.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000510	1791-09-11 SI			0		0		0.0		9.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000530	1791-11-11 SI			0		0		0.0		4.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000540	1791-13-11 SI			0		0		0.0		10.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011680	1791-15-12			0		1		0.0		492.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.6		2.7		5.6
011690	1791-01-13			0		1		0.0		767.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		3.3		5.6
008960	1791-03-13			0		1		0.0		408.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.2		5.6
000280	1791-05-13			0		1		0.0		567.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.2		5.6
011700	1791-07-13			0		1		0.0		773.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.2		3.3		5.6
000950	1791-09-13			0		1		0.0		782.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		3.4		5.6
009480	1791-11-13			0		1		0.0		731.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.8		3.6		5.6
011710	1791-13-13			0		1		0.0		810.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.0		3.7		5.6
000900	1791-15-13			0		1		0.0		835.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		3.2		5.6
000240	1791-01-14			0		1		0.0		926.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.4		2.1		5.6
000250	1791-03-14 SI			0		0		0.0		5.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000270	1791-05-14			0		0		0.0		683.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000260	1791-07-14			0		0		0.0		247.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003670	1791-09-14			0		0		0.0		297.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019740	FE ATL RIM OP PDP		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		11,986.8		-11,986.8		-9,295.2
022980	PLANT EXPENSE PDP		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		11,449.2		-11,449.2		-8,878.2
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		23,436.0		-23,436.0		-18,173.4
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
012990	1790-01-07		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012970	1790-05-07		0.0		0.0		592.6		0.0		0.0		385.4		0.0		0.0		1,068.7		142.9		0.0		0.0		221.1		704.7		531.5
012980	1790-07-07		0.0		0.0		593.4		0.0		0.0		385.9		0.0		0.0		1,069.6		143.1		0.0		0.0		221.2		705.3		533.9
000290	1790-09-07		0.0		0.0		598.5		0.0		0.0		389.2		0.0		0.0		1,077.8		144.0		0.0		0.0		222.2		711.6		541.1
013000	1790-11-07		0.0		0.0		609.6		0.0		0.0		396.4		0.0		0.0		1,096.3		146.5		0.0		0.0		224.7		725.1		552.7
011770	1790-13-07		0.0		0.0		614.3		0.0		0.0		399.5		0.0		0.0		1,103.7		147.7		0.0		0.0		225.7		730.3		558.6
002300	1790-15-07		0.0		0.0		607.4		0.0		0.0		395.0		0.0		0.0		1,092.2		146.0		0.0		0.0		224.1		722.1		551.3
011780	1790-03-18		0.0		0.0		597.8		0.0		0.0		388.8		0.0		0.0		1,066.3		142.6		0.0		0.0		222.1		701.6		548.3
011750	1790-05-18		0.0		0.0		596.0		0.0		0.0		387.6		0.0		0.0		1,074.0		143.5		0.0		0.0		221.8		708.7		537.6
013010	1790-07-18		0.0		0.0		604.6		0.0		0.0		393.2		0.0		0.0		1,088.1		145.4		0.0		0.0		223.6		719.1		546.9
013040	1790-10-18		0.0		0.0		598.6		0.0		0.0		389.3		0.0		0.0		1,078.3		144.1		0.0		0.0		222.3		711.9		539.9
011790	1790-11-18		0.0		0.0		593.4		0.0		0.0		385.9		0.0		0.0		1,069.6		143.1		0.0		0.0		221.2		705.3		533.9
011800	1790-03-19		0.0		0.0		605.0		0.0		0.0		393.5		0.0		0.0		1,080.2		144.3		0.0		0.0		223.7		712.2		554.8
012950	1791-11-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013060	1791-13-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012960	1791-15-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000830	1791-03-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000780	1791-05-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000810	1791-07-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000510	1791-09-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000530	1791-11-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000540	1791-13-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011680	1791-15-12		0.0		0.0		403.7		0.0		0.0		262.5		0.0		0.0		717.9		96.0		0.0		0.0		180.2		441.7		349.6
011690	1791-01-13		0.0		0.0		604.7		0.0		0.0		393.3		0.0		0.0		1,078.0		144.3		0.0		0.0		223.7		710.0		556.6
008960	1791-03-13		0.0		0.0		218.6		0.0		0.0		142.2		0.0		0.0		386.6		51.8		0.0		0.0		140.0		194.8		159.5
000280	1791-05-13		0.0		0.0		248.4		0.0		0.0		161.6		0.0		0.0		439.3		58.6		0.0		0.0		146.6		234.1		191.1
011700	1791-07-13		0.0		0.0		555.4		0.0		0.0		361.2		0.0		0.0		991.0		132.5		0.0		0.0		212.9		645.6		503.9
000950	1791-09-13		0.0		0.0		617.1		0.0		0.0		401.3		0.0		0.0		1,101.2		147.2		0.0		0.0		226.2		727.8		567.9
009480	1791-11-13		0.0		0.0		614.7		0.0		0.0		399.7		0.0		0.0		1,100.7		147.2		0.0		0.0		225.8		727.7		562.6
011710	1791-13-13		0.0		0.0		632.0		0.0		0.0		411.0		0.0		0.0		1,131.4		151.5		0.0		0.0		229.5		750.4		580.7
000900	1791-15-13		0.0		0.0		591.3		0.0		0.0		384.5		0.0		0.0		1,052.8		140.9		0.0		0.0		220.8		691.1		544.0
000240	1791-01-14		0.0		0.0		212.2		0.0		0.0		138.0		0.0		0.0		372.5		49.9		0.0		0.0		138.7		183.9		155.5
000250	1791-03-14 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000270	1791-05-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000260	1791-07-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003670	1791-09-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
003680	1791-11-14		0		1		0.0		965.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		2.0		5.6
000090	1791-13-14		0		1		0.0		399.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.945		2.3		2.0		4.7
000120	1791-15-14		0		1		0.0		1,508.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.1		5.6
000550	1791-01-15		0		0		0.0		24.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000400	1791-09-15		0		1		0.0		895.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.388		2.1		2.1		0.1
000410	1791-11-15		0		0		0.0		56.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000420	1791-13-15		0		0		0.0		108.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000430	1791-15-15		0		1		0.0		763.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.685		2.1		2.0		1.1
000440	1791-01-21 SI		0		0		0.0		56.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000860	1791-03-21 SI		0		0		0.0		8.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000790	1791-05-21		0		0		0.0		57.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000840	1791-07-21 SI		0		0		0.0		26.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000450	1791-09-21		0		0		0.0		227.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000770	1791-11-21		0		0		0.0		27.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000800	1791-13-21		0		1		0.0		254.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.945		2.3		2.0		4.6
000820	1791-15-21		0		1		0.0		667.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.945		2.9		2.0		5.2
003690	1791-01-22		0		0		0.0		1,055.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000320	1791-03-22		0		0		0.0		721.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000340	1791-05-22		0		0		0.0		466.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000350	1791-07-22		0		0		0.0		938.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003700	1791-09-22		0		1		0.0		1,509.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.4		2.2		5.6
000330	1791-11-22		0		0		0.0		507.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000380	1791-13-22		0		1		0.0		748.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.820		2.4		2.0		3.7
000310	1791-15-22		0		1		0.0		856.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.685		2.1		2.0		0.8
003710	1791-01-23		0		1		0.0		1,093.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.3		5.6
003720	1791-03-23		0		1		0.0		959.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.0		5.6
000140	1791-05-23		0		1		0.0		487.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.701		2.2		2.0		1.7
000160	1791-07-23		0		0		0.0		131.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003730	1791-09-23 SI		0		0		0.0		67.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003740	1791-11-23		0		1		0.0		851.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.1		5.6
000150	1791-13-23		0		1		0.0		1,499.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.5		2.2		5.6
000170	1791-15-23		0		1		0.0		551.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		2.820		2.6		2.0		4.3
002110	1791-01-24		0		1		0.0		740.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.1		3.2		5.6
000910	1791-03-24		0		1		0.0		1,306.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		6.2		3.7		5.6
000100	1791-05-24		0		1		0.0		996.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		5.1		2.9		5.6
002930	1791-07-24		0		1		0.0		754.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		3.4		5.6
003240	1791-09-24		0		0		0.0		0.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003170	1791-11-24		0		1		0.0		746.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		3.4		5.6
000080	1791-13-24		0		1		0.0		761.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.7		5.6
000390	1791-15-24		0		1		0.0		665.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		3.7		5.6
000870	1791-03-25		0		1		0.0		853.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		4.0		5.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
003680	1791-11-14		0.0		0.0		145.8		0.0		0.0		94.8		0.0		0.0		257.0		34.4		0.0		0.0		124.3		98.3		83.0
000090	1791-13-14		0.0		0.0		96.1		0.0		0.0		62.5		0.0		0.0		168.3		22.4		0.0		0.0		98.2		47.7		40.6
000120	1791-15-14		0.0		0.0		188.1		0.0		0.0		122.3		0.0		0.0		330.0		44.1		0.0		0.0		133.6		152.3		129.7
000550	1791-01-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000400	1791-09-15		0.0		0.0		1.2		0.0		0.0		0.8		0.0		0.0		1.9		0.2		0.0		0.0		1.7		0.0		0.0
000410	1791-11-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000420	1791-13-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000430	1791-15-15		0.0		0.0		16.5		0.0		0.0		10.7		0.0		0.0		27.4		3.7		0.0		0.0		21.6		2.1		2.1
000440	1791-01-21 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000860	1791-03-21 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000790	1791-05-21		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000840	1791-07-21 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000450	1791-09-21		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000770	1791-11-21		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000800	1791-13-21		0.0		0.0		92.9		0.0		0.0		60.4		0.0		0.0		162.6		21.7		0.0		0.0		96.1		44.8		38.3
000820	1791-15-21		0.0		0.0		138.1		0.0		0.0		89.8		0.0		0.0		241.4		32.2		0.0		0.0		115.7		93.5		81.1
003690	1791-01-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000320	1791-03-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000340	1791-05-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000350	1791-07-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003700	1791-09-22		0.0		0.0		230.7		0.0		0.0		150.0		0.0		0.0		406.7		54.4		0.0		0.0		142.6		209.7		173.4
000330	1791-11-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000380	1791-13-22		0.0		0.0		68.6		0.0		0.0		44.6		0.0		0.0		118.7		15.8		0.0		0.0		75.8		27.1		24.3
000310	1791-15-22		0.0		0.0		11.7		0.0		0.0		7.6		0.0		0.0		19.2		2.6		0.0		0.0		16.3		0.3		0.3
003710	1791-01-23		0.0		0.0		336.0		0.0		0.0		218.5		0.0		0.0		589.7		78.9		0.0		0.0		165.4		345.4		288.2
003720	1791-03-23		0.0		0.0		179.7		0.0		0.0		116.8		0.0		0.0		315.4		42.0		0.0		0.0		131.6		141.8		120.6
000140	1791-05-23		0.0		0.0		27.4		0.0		0.0		17.8		0.0		0.0		46.4		6.3		0.0		0.0		34.9		5.2		4.8
000160	1791-07-23		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003730	1791-09-23 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003740	1791-11-23		0.0		0.0		197.3		0.0		0.0		128.3		0.0		0.0		346.3		46.3		0.0		0.0		135.4		164.6		139.7
000150	1791-13-23		0.0		0.0		231.8		0.0		0.0		150.7		0.0		0.0		407.3		54.5		0.0		0.0		142.9		209.9		175.6
000170	1791-15-23		0.0		0.0		99.4		0.0		0.0		64.6		0.0		0.0		172.6		23.0		0.0		0.0		92.0		57.6		50.7
002110	1791-01-24		0.0		0.0		539.9		0.0		0.0		351.1		0.0		0.0		963.6		128.9		0.0		0.0		209.7		625.0		487.8
000910	1791-03-24		0.0		0.0		911.9		0.0		0.0		593.0		0.0		0.0		1,618.6		216.5		0.0		0.0		290.2		1,111.9		884.2
000100	1791-05-24		0.0		0.0		621.1		0.0		0.0		403.9		0.0		0.0		1,098.2		146.8		0.0		0.0		227.2		724.2		585.6
002930	1791-07-24		0.0		0.0		617.1		0.0		0.0		401.3		0.0		0.0		1,101.2		147.2		0.0		0.0		226.2		727.8		567.9
003240	1791-09-24		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003170	1791-11-24		0.0		0.0		617.1		0.0		0.0		401.3		0.0		0.0		1,101.2		147.2		0.0		0.0		226.2		727.8		567.9
000080	1791-13-24		0.0		0.0		496.8		0.0		0.0		323.1		0.0		0.0		878.5		117.4		0.0		0.0		200.3		560.8		454.0
000390	1791-15-24		0.0		0.0		621.7		0.0		0.0		404.3		0.0		0.0		1,115.1		149.1		0.0		0.0		227.4		738.6		569.0
000870	1791-03-25		0.0		0.0		777.7		0.0		0.0		505.7		0.0		0.0		1,389.4		186.0		0.0		0.0		261.0		942.4		733.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL					GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL					$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END			START		END		START		END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
014470	1791-06-25		0		1		0.0		889.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		5.0		3.7		5.6
014510	1791-12-25		0		1		0.0		808.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.3		4.3		5.6
014460	1791-14-25		0		1		0.0		797.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.7		3.9		5.6
000070	1791-01-26		0		1		0.0		986.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.3		2.1		5.6
000110	1791-03-26		0		1		0.0		931.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.8		2.2		5.6
000470	1791-05-26		0		1		0.0		1,001.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.3		2.1		5.6
000460	1791-07-26		0		1		0.0		552.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		2.820		2.5		2.0		3.8
015002	1791-10-26		0		1		0.0		764.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.6		3.8		5.6
014490	1791-16-26		0		1		0.0		787.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.9		3.9		5.6
000480	1791-01-27		0		1		0.0		950.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.6		2.1		5.6
000490	1791-03-27		0		1		0.0		1,117.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.4		2.1		5.6
000500	1791-05-27		0		1		0.0		1,847.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		4.0		2.3		5.6
000520	1791-07-27		0		1		0.0		1,378.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.5		2.2		5.6
000960	1791-01-28		0		1		0.0		736.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.6		2.1		5.6
016600	1791-03-28S		0		1		0.0		533.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.8		2.1		5.6
000940	1791-05-28		0		1		0.0		1,532.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.4		2.1		5.6
000930	1791-07-28		0		1		0.0		299.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		2.388		2.1		2.1		0.1
003100	1791-11-28		0		1		0.0		987.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		5.1		2.9		5.6
003110	1791-13-28		0		1		0.0		428.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		2.8		2.1		5.6
003120	1791-15-28		0		1		0.0		857.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		4.9		2.5		5.6
003140	1791-01-29		0		1		0.0		426.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		2.945		2.7		2.0		5.3
000980	1791-05-29		0		0		0.0		26.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000	��		0.000		0.000		0.0		0.0		0.0
009430	1791-07-29		0		1		0.0		292.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		2.945		2.7		2.0		4.5
003130	1791-09-29		0		1		0.0		1,108.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		5.3		3.1		5.6
000890	1791-11-29		0		1		0.0		324.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		2.8		2.0		5.6
003150	1791-13-29		0		1		0.0		488.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.3		2.1		5.6
003160	1791-15-29		0		1		0.0		536.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			2.388		3.095		3.2		2.2		5.6
019610	ABAN DM PDP G		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		6.6
	FIELD TOTAL		0		72		0.0		63,078.5
GRACE POINT UNIT FIELD, CARBON COUNTY
021130	1491-14-01 SI		0		0		0.0		0.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020510	1491-23-01 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020640	1491-11-02 SI		0		0		0.0		5.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
021190	1491-15-02 SI		0		0		0.0		1.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020310	1491-43-02 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020800	1491-01-11 SI		0		0		0.0		4.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
021010	1491-03-11 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020930	1491-07-11 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020070	1491-09-11 SI		0		0		0.0		7.7		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0
020890	1491-11-11 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000			0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
014470	1791-06-25		0.0		0.0		735.7		0.0		0.0		478.5		0.0		0.0		1,312.3		175.4		0.0		0.0		252.2		884.7		691.5
014510	1791-12-25		0.0		0.0		711.2		0.0		0.0		462.6		0.0		0.0		1,279.9		171.1		0.0		0.0		246.7		862.1		657.0
014460	1791-14-25		0.0		0.0		716.8		0.0		0.0		466.1		0.0		0.0		1,284.3		171.8		0.0		0.0		247.8		864.7		668.0
000070	1791-01-26		0.0		0.0		195.4		0.0		0.0		127.1		0.0		0.0		342.6		45.8		0.0		0.0		135.0		161.8		137.5
000110	1791-03-26		0.0		0.0		266.0		0.0		0.0		173.0		0.0		0.0		466.7		62.5		0.0		0.0		150.3		253.9		213.2
000470	1791-05-26		0.0		0.0		194.0		0.0		0.0		126.2		0.0		0.0		340.4		45.7		0.0		0.0		134.7		160.0		136.2
000460	1791-07-26		0.0		0.0		84.2		0.0		0.0		54.8		0.0		0.0		145.5		19.5		0.0		0.0		81.9		44.1		39.6
015002	1791-10-26		0.0		0.0		685.9		0.0		0.0		446.1		0.0		0.0		1,228.9		164.3		0.0		0.0		241.3		823.3		636.2
014490	1791-16-26		0.0		0.0		703.8		0.0		0.0		457.7		0.0		0.0		1,260.5		168.3		0.0		0.0		245.1		847.1		654.9
000480	1791-01-27		0.0		0.0		239.4		0.0		0.0		155.7		0.0		0.0		420.3		56.1		0.0		0.0		144.5		219.7		184.7
000490	1791-03-27		0.0		0.0		216.8		0.0		0.0		141.0		0.0		0.0		380.6		50.7		0.0		0.0		139.6		190.3		160.5
000500	1791-05-27		0.0		0.0		295.5		0.0		0.0		192.2		0.0		0.0		519.4		69.5		0.0		0.0		156.7		293.2		243.9
000520	1791-07-27		0.0		0.0		243.0		0.0		0.0		158.0		0.0		0.0		428.5		57.3		0.0		0.0		145.4		225.8		186.4
000960	1791-01-28		0.0		0.0		238.7		0.0		0.0		155.2		0.0		0.0		419.0		56.1		0.0		0.0		144.5		218.4		184.0
016600	1791-03-28S		0.0		0.0		343.9		0.0		0.0		223.7		0.0		0.0		604.3		80.7		0.0		0.0		167.2		356.4		296.9
000940	1791-05-28		0.0		0.0		201.5		0.0		0.0		131.1		0.0		0.0		353.6		47.3		0.0		0.0		136.3		170.0		144.2
000930	1791-07-28		0.0		0.0		1.2		0.0		0.0		0.8		0.0		0.0		1.9		0.2		0.0		0.0		1.7		0.0		0.0
003100	1791-11-28		0.0		0.0		613.5		0.0		0.0		399.0		0.0		0.0		1,084.3		145.1		0.0		0.0		225.6		713.6		578.0
003110	1791-13-28		0.0		0.0		195.8		0.0		0.0		127.3		0.0		0.0		346.2		46.3		0.0		0.0		135.2		164.7		135.6
003120	1791-15-28		0.0		0.0		423.8		0.0		0.0		275.6		0.0		0.0		744.3		99.4		0.0		0.0		184.4		460.5		382.3
003140	1791-01-29		0.0		0.0		139.1		0.0		0.0		90.5		0.0		0.0		244.2		32.6		0.0		0.0		118.6		93.0		79.8
000980	1791-05-29		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
009430	1791-07-29		0.0		0.0		106.2		0.0		0.0		69.0		0.0		0.0		184.4		24.6		0.0		0.0		97.8		62.0		54.9
003130	1791-09-29		0.0		0.0		668.9		0.0		0.0		435.0		0.0		0.0		1,184.2		158.3		0.0		0.0		237.6		788.3		634.3
000890	1791-11-29		0.0		0.0		145.8		0.0		0.0		94.8		0.0		0.0		257.0		34.4		0.0		0.0		124.3		98.3		83.0
003150	1791-13-29		0.0		0.0		231.4		0.0		0.0		150.5		0.0		0.0		407.3		54.5		0.0		0.0		142.8		210.0		175.7
003160	1791-15-29		0.0		0.0		260.8		0.0		0.0		169.6		0.0		0.0		461.2		61.8		0.0		0.0		149.2		250.2		204.2
019610	ABAN DM PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		4,244.0		0.0		-4,244.0		-2,275.1
	FIELD TOTAL		0.0		0.0		28,032.0		0.0		0.0		18,230.3		0.0		0.0		49,914.7		6,674.0		0.0		4,244.0		12,200.8		26,795.9		22,191.3
GRACE POINT UNIT FIELD, CARBON COUNTY
021130	1491-14-01 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020510	1491-23-01 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020640	1491-11-02 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021190	1491-15-02 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020310	1491-43-02 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020800	1491-01-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021010	1491-03-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020930	1491-07-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020070	1491-09-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020890	1491-11-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
020130	1491-15-11 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020830	1491-14-12 SI		0		0		0.0		3.4		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020340	1491-21-12 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020230	1491-23-12 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020270	1491-12-13 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020330	1491-14-13 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020090	1491-21-13 SI		0		0		0.0		1.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020190	1491-23-13 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020560	1491-32-13 SI		0		0		0.0		1.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020580	1491-34-13 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020440	1491-01-14 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021020	1491-07-14 SI		0		0		0.0		2.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021100	1491-09-14 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020770	1591-03-04		0		0		0.0		7.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020490	1591-05-04		0		0		0.0		4.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020730	1591-07-04		0		0		0.0		13.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020900	1591-11-04		0		0		0.0		4.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020880	1591-11-04I SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021140	1591-13-04		0		1		0.0		216.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		2.6		2.0		5.6
021110	1591-15-04		0		0		0.0		12.5		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020150	1591-01-05		0		0		0.0		2.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020380	1591-01-05I SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021150	1591-03-05 SI		0		0		0.0		3.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021050	1591-05-05 SI		0		0		0.0		25.4		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020400	1591-07-05 SI		0		0		0.0		31.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020260	1591-09-05		0		0		0.0		5.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020750	1591-11-05 SI		0		0		0.0		12.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021240	1591-13-05 SI		0		0		0.0		106.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020460	1591-15-05 SI		0		0		0.0		169.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020100	1591-01-06		0		0		0.0		107.4		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020060	1591-15-06		0		0		0.0		41.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020200	1591-01-08 SI		0		0		0.0		0.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020530	1591-03-08 SI		0		0		0.0		12.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020120	1591-05-08 SI		0		0		0.0		34.7		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020690	1591-07-08 SI		0		0		0.0		9.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020350	1591-09-08 SI		0		0		0.0		29.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021080	1591-11-08		0		0		0.0		15.4		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021300	1591-13-08		0		0		0.0		9.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020870	1591-15-08 SI		0		0		0.0		12.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020410	1591-03-09 SI		0		0		0.0		7.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020960	1591-05-09 SI		0		0		0.0		40.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
020130	1491-15-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020830	1491-14-12 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020340	1491-21-12 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020230	1491-23-12 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020270	1491-12-13 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020330	1491-14-13 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020090	1491-21-13 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020190	1491-23-13 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020560	1491-32-13 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020580	1491-34-13 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020440	1491-01-14 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021020	1491-07-14 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021100	1491-09-14 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020770	1591-03-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020490	1591-05-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020730	1591-07-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020900	1591-11-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020880	1591-11-04I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021140	1591-13-04		0.0		0.0		143.9		0.0		0.0		98.8		0.0		0.0		268.4		35.8		0.0		0.0		126.7		105.9		88.7
021110	1591-15-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020150	1591-01-05		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020380	1591-01-05I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021150	1591-03-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021050	1591-05-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020400	1591-07-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020260	1591-09-05		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020750	1591-11-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021240	1591-13-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020460	1591-15-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020100	1591-01-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020060	1591-15-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020200	1591-01-08 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020530	1591-03-08 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020120	1591-05-08 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020690	1591-07-08 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020350	1591-09-08 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021080	1591-11-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021300	1591-13-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020870	1591-15-08 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020410	1591-03-09 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020960	1591-05-09 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
020710	1591-11-09 SI		0		0		0.0		5.8		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020840	1591-13-09 SI		0		0		0.0		5.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020450	1591-15-09 SI		0		0		0.0		201.5		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020590	1591-13-15I SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020570	1591-01-16 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021170	1591-01-16I SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020620	1591-03-16 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020300	1591-05-16 SI		0		0		0.0		4.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020140	1591-07-16 SI		0		0		0.0		2.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020020	1591-11-16 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020210	1591-03-17		0		0		0.0		13.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021180	1591-07-17		0		0		0.0		5.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020050	1591-01-21		0		0		0.0		13.7		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020480	1591-08I SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021230	1591-09I SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012310	1691-11-28		0		1		0.0		706.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.8		5.6
016570	1691-13-28		0		1		0.0		613.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.1		5.6
016590	1691-12-29		0		0		0.0		24.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016550	1691-13-29		0		0		0.0		37.7		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016560	1691-15-29		0		0		0.0		66.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020040	1691-01-32		0		1		0.0		182.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		2.701		2.1		2.0		1.7
020850	1691-03-32		0		0		0.0		5.7		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020360	1691-05-32		0		0		0.0		5.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020820	1691-07-32		0		0		0.0		32.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020290	1691-09-32		0		0		0.0		17.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021070	1691-11-32		0		0		0.0		7.4		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020610	1691-15-32		0		0		0.0		6.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020760	1691-11-33		0		1		0.0		266.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		2.820		2.5		2.0		4.0
020320	1691-13-33		0		0		0.0		29.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020630	BRWNG 1-12		0		0		22.1		607.3		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021040	BRWNG F 1-2I SI		0		0		29.5		78.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020160	BRWNG F 1-11 SI		0		0		100.5		126.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020470	BRWNG F 2-12		0		0		7.8		319.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020550	BRWNG F 3-12I SI		0		0		3.7		1,233.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021030	BRWNG F 4-12I SI		0		0		3.3		18.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020720	BRWNG F 21-1		0		0		32.9		313.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020940	BRWNG F 32-1 SI		0		0		2.2		763.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020430	BRWNG ST 15-36		0		0		0.3		170.5		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021250	CHRKE CRK 32 23 SI		0		0		0.4		755.4		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021260	WD CW CRK 010514		0		0		23.3		297.1		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020780	WD CW CRK 01-22 SI		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY  (CONTINUED)
GRACE POINT UNIT FIELD,  CARBON COUNTY (CONTINUED)
020710	1591-11-09 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020840	1591-13-09 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020450	1591-15-09 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020590	1591-13-15I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020570	1591-01-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021170	1591-01-16I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020620	1591-03-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020300	1591-05-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020140	1591-07-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020020	1591-11-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020210	1591-03-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021180	1591-07-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020050	1591-01-21		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020480	1591-08I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021230	1591-09I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012310	1691-11-28		0.0		0.0		549.7		0.0		0.0		377.4		0.0		0.0		1,032.2		138.0		0.0		0.0		216.6		677.6		535.1
016570	1691-13-28		0.0		0.0		183.8		0.0		0.0		126.2		0.0		0.0		340.6		45.6		0.0		0.0		135.6		159.4		135.6
016590	1691-12-29		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016550	1691-13-29		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016560	1691-15-29		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020040	1691-01-32		0.0		0.0		24.7		0.0		0.0		17.0		0.0		0.0		44.1		5.9		0.0		0.0		33.8		4.4		4.3
020850	1691-03-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020360	1691-05-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020820	1691-07-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020290	1691-09-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021070	1691-11-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020610	1691-15-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020760	1691-11-33		0.0		0.0		87.7		0.0		0.0		60.2		0.0		0.0		160.1		21.5		0.0		0.0		87.3		51.3		45.9
020320	1691-13-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020630	BRWNG 1-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021040	BRWNG F 1-2I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020160	BRWNG F 1-11 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020470	BRWNG F 2-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020550	BRWNG F 3-12I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021030	BRWNG F 4-12I SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020720	BRWNG F 21-1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020940	BRWNG F 32-1 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020430	BRWNG ST 15-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021250	CHRKE CRK 32 23 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021260	WD CW CRK 010514		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020780	WD CW CRK 01-22 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M					LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END			YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY  (CONTINUED)
GRACE POINT UNIT FIELD,  CARBON COUNTY (CONTINUED)
020810	WD CW CRK 01-23 SI		0		0		0.3		21.2		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
021000	WD CW CRK 10-14		0		0		1.4		340.8		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
021060	WD CW CRK 14-14 SI		0		0		4.0		290.8		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
019630	ABAN GP PDP G		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			6.6
	FIELD TOTAL		0		5		231.6		8,551.5
SUN DOG UNIT FIELD, CARBON COUNTY
002600	1691-04-02		0		0		0.0		12.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002610	1691-06-02		0		0		0.0		53.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
003040	1691-12-02		0		0		0.0		41.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002540	1691-02-03		0		0		0.0		105.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002550	1691-04-03		0		0		0.0		338.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
001980	1691-06-03		0		0		0.0		154.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002560	1691-08-03 SI		0		0		0.0		8.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002570	1691-10-03		0		0		0.0		60.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002040	1691-12-03		0		0		0.0		79.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002580	1691-14-03 SI		0		0		0.0		26.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002590	1691-16-03 SI		0		0		0.0		28.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002280	1691-02-04		0		1		0.0		1,253.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.1			5.6
002270	1691-04-04		0		1		0.0		668.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.820		2.6		2.0			4.2
002260	1691-06-04		0		1		0.0		490.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.735		2.3		2.0			2.7
013020	1691-08-04		0		1		0.0		832.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		4.1		4.1			5.6
001650	1691-10-04		0		0		0.0		233.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
001770	1691-12-04		0		0		0.0		339.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
001750	1691-14-04		0		0		0.0		272.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002030	1691-16-04		0		0		0.0		38.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002250	1691-02-05		0		1		0.0		322.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.2		2.0			1.7
002020	1691-04-05 SI		0		0		0.0		53.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002010	1691-06-05		0		0		0.0		350.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002240	1691-08-05		0		1		0.0		341.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.3		2.0			2.4
001760	1691-10-05		0		0		0.0		658.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
002230	1691-12-05		0		0		0.0		289.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
001740	1691-14-05		0		1		0.0		1,026.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.735		2.4		2.0			3.1
001730	1691-16-05 SI		0		0		0.0		556.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0	��		0.0
000610	1691-02-08		0		0		0.0		656.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
000680	1691-04-08		0		1		0.0		1,686.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.820		2.6		2.0			4.0
000030	1691-06-08		0		1		0.0		1,025.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.820		2.6		2.0			4.1
000700	1691-08-08		0		1		0.0		1,430.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.0			5.6
003750	1691-10-08		0		0		0.0		1,208.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0			0.0
003760	1691-12-08		0		1		0.0		1,200.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.7		2.0			5.6
003770	1691-14-08		0		1		0.0		2,050.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.945		2.7		2.0			4.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL		NET CAP		ABDNMNT		OPERATING		NET		CUM P.W.
LEASE		OIL		NGL		GAS		OIL		NGL		GAS		OIL		NGL		GAS		TAXES		COST		COST		EXPENSE		REVENUE		10.000%
NUMBER	LEASE NAME	MBBL		MBBL		MMCF		MBBL		MBBL		MMCF		M$		M$		M$		M$		M$		M$		M$		M$		M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
020810	WD CW CRK 01-23 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021000	WD CW CRK 10-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021060	WD CW CRK 14-14 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019630	ABAN GP PDP G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		3,850.3		0.0		-3,850.3		-2,064.0
	FIELD TOTAL		0.0		0.0		989.8		0.0		0.0		679.6		0.0		0.0		1,845.4		246.8		0.0		3,850.3		600.0		-2,851.7		-1,254.4
SUN DOG UNIT FIELD, CARBON COUNTY
002600	1691-04-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002610	1691-06-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003040	1691-12-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002540	1691-02-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002550	1691-04-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001980	1691-06-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002560	1691-08-03 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002570	1691-10-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002040	1691-12-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002580	1691-14-03 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002590	1691-16-03 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002280	1691-02-04		0.0		0.0		188.1		0.0		0.0		107.2		0.0		0.0		289.1		38.6		0.0		0.0		116.5		134.0		114.0
002270	1691-04-04		0.0		0.0		97.0		0.0		0.0		55.2		0.0		0.0		147.4		19.8		0.0		0.0		78.7		48.9		43.1
002260	1691-06-04		0.0		0.0		51.9		0.0		0.0		29.5		0.0		0.0		77.8		10.4		0.0		0.0		49.6		17.8		16.2
013020	1691-08-04		0.0		0.0		691.1		0.0		0.0		393.7		0.0		0.0		1,085.9		145.1		0.0		0.0		211.6		729.2		560.2
001650	1691-10-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001770	1691-12-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001750	1691-14-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002030	1691-16-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002250	1691-02-05		0.0		0.0		28.5		0.0		0.0		16.2		0.0		0.0		42.3		5.6		0.0		0.0		30.7		6.0		5.5
002020	1691-04-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002010	1691-06-05		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002240	1691-08-05		0.0		0.0		42.4		0.0		0.0		24.2		0.0		0.0		63.4		8.4		0.0		0.0		43.0		12.0		10.9
001760	1691-10-05		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002230	1691-12-05		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001740	1691-14-05		0.0		0.0		62.3		0.0		0.0		35.5		0.0		0.0		93.7		12.6		0.0		0.0		56.4		24.7		22.4
001730	1691-16-05 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000610	1691-02-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000680	1691-04-08		0.0		0.0		90.1		0.0		0.0		51.3		0.0		0.0		136.5		18.2		0.0		0.0		74.9		43.4		38.5
000030	1691-06-08		0.0		0.0		89.9		0.0		0.0		51.2		0.0		0.0		136.4		18.1		0.0		0.0		76.2		42.1		37.3
000700	1691-08-08		0.0		0.0		158.5		0.0		0.0		90.3		0.0		0.0		244.2		32.6		0.0		0.0		110.8		100.8		85.2
003750	1691-10-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003760	1691-12-08		0.0		0.0		129.6		0.0		0.0		73.8		0.0		0.0		200.2		26.8		0.0		0.0		105.5		67.9		57.8
003770	1691-14-08		0.0		0.0		120.3		0.0		0.0		68.6		0.0		0.0		183.8		24.7		0.0		0.0		92.8		66.3		58.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M					LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START			END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
003780	1691-16-08		0		1		0.0		1,292.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.8			2.2		5.6
001720	1691-02-09 SI		0		0		0.0		280.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001710	1691-04-09		0		0		0.0		338.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001700	1691-06-09		0		0		0.0		346.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
002000	1691-08-09		0		0		0.0		13.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001690	1691-10-09		0		0		0.0		59.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000730	1691-12-09		0		0		0.0		334.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0	��		0.0		0.0
002090	1691-16-09		0		0		0.0		81.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
002220	1691-04-10 SI		0		0		0.0		15.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
002630	1691-06-10		0		0		0.0		50.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001680	1691-12-10		0		0		0.0		60.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001670	1691-04-15 SI		0		0		0.0		55.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
002640	1691-10-15		0		0		0.0		74.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001660	1691-12-15		0		1		0.0		261.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.2			2.0		1.9
002190	1691-14-15		0		0		0.0		158.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
002650	1691-16-15 SI		0		0		0.0		61.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001780	1691-02-16 SI		0		0		0.0		76.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000360	1691-04-16 SI		0		0		0.0		268.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000630	1691-06-16		0		0		0.0		27.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001810	1691-08-16		0		0		0.0		88.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001800	1691-10-16 SI		0		0		0.0		461.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000370	1691-12-16		0		0		0.0		473.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000620	1691-14-16		0		0		0.0		307.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001790	1691-16-16		0		1		0.0		786.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.3			2.0		2.0
003790	1691-02-17		0		0		0.0		1,141.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000640	1691-04-17		0		1		0.0		1,186.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.9			2.1		5.6
003800	1691-06-17		0		1		0.0		3,226.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		6.3			2.7		5.6
003810	1691-08-17		0		0		0.0		2,010.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
003820	1691-10-17		0		0		0.0		600.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
000650	1691-12-17		0		1		0.0		406.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.2			2.0		1.9
003830	1691-14-17 SI		0		0		0.0		595.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
003840	1691-16-17		0		0		0.0		804.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001340	1691-10-18		0		0		0.0		792.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001880	1691-12-18		0		1		0.0		613.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.945		2.9			2.0		5.1
001350	1691-14-18		0		1		0.0		386.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.2			2.0		1.5
001820	1691-16-18		0		0		0.0		106.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001870	1691-02-19		0		0		0.0		166.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001860	1691-04-19 SI		0		0		0.0		24.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001360	1691-06-19		0		0		0.0		39.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0
001850	1691-08-19		0		1		0.0		466.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.820		2.7			2.0		4.3
001840	1691-10-19		0		0		0.0		104.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0			0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST									RESERVES AND ECONOMICS AS OF JULY 31, 2016 PROVED DEVELOPED PRODUCING RESERVES																RUN DATE:     05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING
		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
003780	1691-16-08		0.0		0.0		274.4		0.0		0.0		156.3		0.0		0.0		421.9		56.4		0.0		0.0		132.8		232.7		195.0
001720	1691-02-09 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001710	1691-04-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001700	1691-06-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002000	1691-08-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001690	1691-10-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000730	1691-12-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002090	1691-16-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002220	1691-04-10 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002630	1691-06-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001680	1691-12-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001670	1691-04-15 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002640	1691-10-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001660	1691-12-15		0.0		0.0		32.0		0.0		0.0		18.2		0.0		0.0		47.5		6.4		0.0		0.0		33.9		7.2		6.9
002190	1691-14-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002650	1691-16-15 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001780	1691-02-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000360	1691-04-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000630	1691-06-16		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001810	1691-08-16		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001800	1691-10-16 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000370	1691-12-16		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000620	1691-14-16		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001790	1691-16-16		0.0		0.0		34.3		0.0		0.0		19.5		0.0		0.0		51.0		6.7		0.0		0.0		35.5		8.8		8.1
003790	1691-02-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000640	1691-04-17		0.0		0.0		162.0		0.0		0.0		92.3		0.0		0.0		250.2		33.4		0.0		0.0		111.5		105.3		88.1
003800	1691-06-17		0.0		0.0		564.3		0.0		0.0		321.5		0.0		0.0		867.4		116.0		0.0		0.0		187.7		563.7		467.3
003810	1691-08-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003820	1691-10-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000650	1691-12-17		0.0		0.0		30.2		0.0		0.0		17.2		0.0		0.0		45.0		6.1		0.0		0.0		33.6		5.3		5.1
003830	1691-14-17 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003840	1691-16-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001340	1691-10-18		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001880	1691-12-18		0.0		0.0		132.5		0.0		0.0		75.5		0.0		0.0		202.7		27.1		0.0		0.0		98.8		76.8		66.9
001350	1691-14-18		0.0		0.0		23.6		0.0		0.0		13.4		0.0		0.0		34.7		4.7		0.0		0.0		26.1		3.9		3.7
001820	1691-16-18		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001870	1691-02-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001860	1691-04-19 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001360	1691-06-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001850	1691-08-19		0.0		0.0		100.8		0.0		0.0		57.4		0.0		0.0		153.2		20.4		0.0		0.0		80.8		52.0		45.9
001840	1691-10-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST								BASIC DATA AS OF JULY 31, 2016 PROVED DEVELOPED PRODUCING RESERVES																		RUN DATE:     05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING
		ACTIVE				GROSS ULTIMATE				WORKING				REVENUE				OIL				NGL				GAS				GROSS OPERATING
LEASE		COMPLTNS				OIL		GAS		INTEREST				INTEREST				$/BBL				$/BBL				$/MCF				EXPENSE M$/M				LIFE
NUMBER	LEASE NAME	OIL		GAS		MBBL		MMCF		START		END		START		END		START		END		START		END		START		END		START		END		YRS
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
001830	1691-12-19 SI		0		0		0.0		9.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001480	1691-16-19		0		0		0.0		62.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000670	1691-02-20		0		1		0.0		811.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.0		5.6
000690	1691-04-20		0		0		0.0		35.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000720	1691-06-20		0		0		0.0		212.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000710	1691-08-20		0		0		0.0		563.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001970	1691-10-20		0		1		0.0		1,116.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		4.0		2.2		5.6
001960	1691-12-20		0		1		0.0		888.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.3		2.0		2.3
001370	1691-14-20		0		0		0.0		336.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002080	1691-16-20		0		0		0.0		110.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001950	1691-02-21		0		0		0.0		1,235.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000660	1691-04-21 SI		0		0		0.0		234.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002070	1691-06-21 SI		0		0		0.0		168.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001940	1691-08-21		0		1		0.0		1,184.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.0		2.0		5.6
002060	1691-10-21 SI		0		0		0.0		72.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001930	1691-12-21		0		0		0.0		143.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001920	1691-14-21		0		0		0.0		317.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002100	1691-04-28		0		1		0.0		200.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.735		2.2		2.0		2.7
001910	1691-02-29		0		0		0.0		8.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002050	1691-04-29		0		0		0.0		65.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001900	1691-06-29		0		0		0.0		15.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001890	1691-08-29		0		0		0.0		17.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002690	1791-12-26		0		1		0.0		943.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.0		2.0		5.6
002620	1791-14-26		0		1		0.0		709.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.701		2.2		2.0		1.9
002660	1791-02-34		0		1		0.0		1,025.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.3		5.6
002670	1791-08-34		0		1		0.0		433.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.685		2.1		2.0		0.7
002700	1791-10-34		0		1		0.0		877.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.5		2.1		5.6
002680	1791-12-34		0		1		0.0		598.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.820		2.6		2.0		4.0
002710	1791-14-34		0		1		0.0		682.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.945		2.7		2.0		4.6
002720	1791-16-34		0		1		0.0		1,029.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.8		2.3		5.6
002740	1791-02-35		0		1		0.0		681.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.7		2.3		5.6
002750	1791-04-35		0		1		0.0		760.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.2		2.1		5.6
002760	1791-06-35		0		1		0.0		492.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.2		5.6
002770	1791-08-35		0		0		0.0		84.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002780	1791-10-35		0		0		0.0		160.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002730	1791-12-35		0		1		0.0		351.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		2.735		2.3		2.0		2.7
002910	1791-14-35		0		0		0.0		160.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003050	1791-04-36		0		0		0.0		81.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003060	1791-05-36		0		0		0.0		20.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
019660	ABAN SD PDP G		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		6.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST									RESERVES AND ECONOMICS AS OF JULY 31, 2016 PROVED DEVELOPED PRODUCING RESERVES																	RUN DATE:     05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING
		GROSS RESERVES						NET RESERVES							GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL			NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
001830	1691-12-19 SI		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001480	1691-16-19		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000670	1691-02-20		0.0		0.0		168.8		0.0			0.0		96.1		0.0		0.0		259.3		34.7		0.0		0.0		112.8		111.8		95.8
000690	1691-04-20		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000720	1691-06-20		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000710	1691-08-20		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001970	1691-10-20		0.0		0.0		298.5		0.0			0.0		170.0		0.0		0.0		458.8		61.3		0.0		0.0		137.3		260.2		217.6
001960	1691-12-20		0.0		0.0		40.1		0.0			0.0		22.8		0.0		0.0		59.7		7.9		0.0		0.0		40.2		11.6		10.7
001370	1691-14-20		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002080	1691-16-20		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001950	1691-02-21		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000660	1691-04-21 SI		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002070	1691-06-21 SI		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001940	1691-08-21		0.0		0.0		161.2		0.0			0.0		91.8		0.0		0.0		247.7		33.1		0.0		0.0		111.5		103.1		88.7
002060	1691-10-21 SI		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001930	1691-12-21		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001920	1691-14-21		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002100	1691-04-28		0.0		0.0		44.0		0.0			0.0		25.1		0.0		0.0		66.4		8.9		0.0		0.0		47.0		10.5		9.4
001910	1691-02-29		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002050	1691-04-29		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001900	1691-06-29		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
001890	1691-08-29		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002690	1791-12-26		0.0		0.0		168.3		0.0			0.0		95.9		0.0		0.0		258.9		34.6		0.0		0.0		112.7		111.6		95.3
002620	1791-14-26		0.0		0.0		32.8		0.0			0.0		18.7		0.0		0.0		48.7		6.5		0.0		0.0		34.0		8.2		7.6
002660	1791-02-34		0.0		0.0		330.7		0.0			0.0		188.4		0.0		0.0		508.3		68.0		0.0		0.0		143.5		296.8		247.7
002670	1791-08-34		0.0		0.0		10.7		0.0			0.0		6.1		0.0		0.0		15.3		2.0		0.0		0.0		12.8		0.5		0.3
002700	1791-10-34		0.0		0.0		222.1		0.0			0.0		126.5		0.0		0.0		341.2		45.8		0.0		0.0		122.9		172.5		145.7
002680	1791-12-34		0.0		0.0		90.5		0.0			0.0		51.6		0.0		0.0		137.2		18.3		0.0		0.0		75.1		43.8		39.1
002710	1791-14-34		0.0		0.0		109.3		0.0			0.0		62.3		0.0		0.0		166.4		22.3		0.0		0.0		87.1		57.0		50.2
002720	1791-16-34		0.0		0.0		322.0		0.0			0.0		183.4		0.0		0.0		496.6		66.2		0.0		0.0		141.8		288.6		238.7
002740	1791-02-35		0.0		0.0		303.6		0.0			0.0		172.9		0.0		0.0		468.0		62.5		0.0		0.0		138.4		267.1		221.7
002750	1791-04-35		0.0		0.0		219.8		0.0			0.0		125.2		0.0		0.0		339.1		45.4		0.0		0.0		122.5		171.2		143.1
002760	1791-06-35		0.0		0.0		216.6		0.0			0.0		123.4		0.0		0.0		335.6		45.0		0.0		0.0		121.9		168.7		138.1
002770	1791-08-35		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002780	1791-10-35		0.0		0.0		0.0		0.0	��		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002730	1791-12-35		0.0		0.0		49.9		0.0			0.0		28.4		0.0		0.0		74.7		9.9		0.0		0.0		48.0		16.8		15.3
002910	1791-14-35		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003050	1791-04-36		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003060	1791-05-36		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019660	ABAN SD PDP G		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0		3,431.5		0.0		-3,431.5		-1,839.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST

BASIC DATA AS OF JULY 31, 2016 PROVED DEVELOPED PRODUCING RESERVES

RUN DATE:     05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

ACTIVE

GROSS ULTIMATE

WORKING

REVENUE

OIL

NGL

GAS

GROSS OPERATING

LEASE

COMPLTNS

OIL

GAS

INTEREST

INTEREST

$/BBL

$/BBL

$/MCF

EXPENSE M$/M

LIFE

NUMBER

LEASE NAME

OIL

GAS

MBBL

MMCF

START

END

START

END

START

END

START

END

START

END

START

END

YRS

WYOMING (CONTINUED)

ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)

SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)

FIELD  TOTAL

0

38

0.0

53,448.7

PROSPECT TOTAL

0

115

231.6

125,078.7

TOTAL WYOMING

0

115

231.6

125,078.7

TOTAL ALL LEASES

0

115

231.6

125,078.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST									RESERVES AND ECONOMICS AS OF JULY 31, 2016 PROVED DEVELOPED PRODUCING RESERVES																RUN DATE:     05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING
		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
FIELD TOTAL			0.0		0.0		5,892.7		0.0		0.0		3,356.8		0.0		0.0		9,056.2		1,210.5		0.0		3,431.5		3,396.9		1,017.3		1,861.8
PROSPECT TOTAL			0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.0		0.0		60,816.3		8,131.3		0.0		11,525.8		39,633.7		1,525.5		4,625.3
TOTAL WYOMING			0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.0		0.0		60,816.3		8,131.3		0.0		11,525.8		39,633.7		1,525.5		4,625.3
TOTAL ALL LEASES			0.0		0.0		34,914.4		0.0		0.0		22,266.7		0.0		0.0		60,816.3		8,131.3		0.0		11,525.8		39,633.7		1,525.5		4,625.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

PERIOD ENDING M-D-Y	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		662.7		0.0		0.0		382.0		0.000		0.000		2.685		0.0		0.0		1,025.6		1,025.6
12-31-2018		0.0		0.0		3,475.0		0.0		0.0		1,995.0		0.000		0.000		2.701		0.0		0.0		5,389.2		5,389.2
12-31-2019		0.0		0.0		5,909.5		0.0		0.0		3,389.1		0.000		0.000		2.735		0.0		0.0		9,269.7		9,269.7
12-31-2020		0.0		0.0		7,658.0		0.0		0.0		4,409.6		0.000		0.000		2.820		0.0		0.0		12,434.7		12,434.7
12-31-2021		0.0		0.0		9,225.0		0.0		0.0		5,379.7		0.000		0.000		2.945		0.0		0.0		15,843.2		15,843.2
12-31-2022		0.0		0.0		11,725.1		0.0		0.0		7,004.4		0.000		0.000		3.095		0.0		0.0		21,677.9		21,677.9
12-31-2023		0.0		0.0		10,435.8		0.0		0.0		6,242.1		0.000		0.000		3.095		0.0		0.0		19,319.3		19,319.3
12-31-2024		0.0		0.0		8,330.7		0.0		0.0		4,987.6		0.000		0.000		3.095		0.0		0.0		15,437.0		15,437.0
12-31-2025		0.0		0.0		6,367.9		0.0		0.0		3,817.1		0.000		0.000		3.095		0.0		0.0		11,815.1		11,815.1
12-31-2026		0.0		0.0		4,729.1		0.0		0.0		2,835.3		0.000		0.000		3.095		0.0		0.0		8,775.1		8,775.1
04-30-2027		0.0		0.0		1,280.3		0.0		0.0		767.6		0.000		0.000		3.095		0.0		0.0		2,375.8		2,375.8
SUBTOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.000		0.000		2.994		0.0		0.0		123,362.6		123,362.6
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.000		0.000		2.994		0.0		0.0		123,362.6		123,362.6
CUM PROD		0.0				47.2
ULTIMATE		0.0				69,846.4

PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE						PRESENT WORTH PROFILE
					TAXES				CAPITAL COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		UNDISCOUNTED				DISC AT 10.000%
	GROSS		NET		PRODUCTION M$		AD VALOREM M$								PERIOD M$		CUM M$		CUM M$		DISC RATE %		CUM PW M$
12-31-2016		45		31.8		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		24,548.4
12-31-2017		61		43.1		62.2		75.0		5,623.4		0.0		279.5		-5,014.5		-5,014.5		-4,582.0		12.000		19,206.4
12-31-2018		69		48.7		325.2		394.5		3,556.8		0.0		1,181.7		-69.0		-5,083.5		-4,664.4		15.000		16,022.3
12-31-2019		74		52.1		559.4		679.4		3,401.3		0.0		1,928.2		2,701.4		-2,382.1		-2,631.3		20.000		11,879.3
12-31-2020		83		58.7		750.7		911.7		3,639.6		0.0		2,530.5		4,602.2		2,220.1		536.1		25.000		8,807.0
12-31-2021		84		59.4		956.6		1,160.8		0.0		0.0		3,028.8		10,697.0		12,917.1		7,228.3		30.000		6,499.3
12-31-2022		150		110.4		1,310.5		1,588.4		0.0		0.0		8,088.6		10,690.4		23,607.5		13,322.5		35.000		4,740.0
12-31-2023		151		111.4		1,166.5		1,415.5		0.0		0.0		8,484.2		8,253.1		31,860.6		17,603.8		40.000		3,393.0
12-31-2024		136		99.9		932.1		1,131.2		0.0		0.0		7,879.2		5,494.5		37,355.1		20,198.0		45.000		2,338.4
12-31-2025		126		92.5		713.4		865.4		0.0		0.0		7,340.8		2,895.5		40,250.6		21,443.3		50.000		1,513.4
12-31-2026		121		88.5		530.1		642.7		0.0		0.0		6,953.7		648.6		40,899.2		21,700.5
04-30-2027		118		86.2		143.0		174.4		0.0		0.0		2,054.8		3.6		40,902.8		21,701.2
SUBTOTAL						7,449.7		9,039.0		16,221.1		0.0		49,750.0		40,902.8		40,902.8		21,701.2
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		40,902.8		21,701.2
TOTAL OF 10.7 YRS						7,449.7		9,039.0		16,221.1		0.0		49,750.0		40,902.8		40,902.8		21,701.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019780	FE ATL RIM OP PNP		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		235.3		151.0		10.7
023030	PLANT EXPENSE PNP		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		224.8		224.8		10.7
	FIELD TOTAL		0		0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
013050	1790-03-07		0		1		0.0		964.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.7		10.7
312970	1790-05-07 EXT		0		1		0.0		288.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.0		2.3		10.7
312980	1790-07-07 EXT		0		1		0.0		261.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		2.3		10.7
300290	1790-09-07 EXT		0		1		0.0		249.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.2		10.7
313000	1790-11-07 EXT		0		1		0.0		261.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.3		10.7
311770	1790-13-07 EXT		0		1		0.0		255.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.5		2.2		10.7
302300	1790-15-07 EXT		0		1		0.0		249.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		2.2		10.7
311780	1790-03-18 EXT		0		1		0.0		187.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.4		2.1		10.7
311750	1790-05-18 EXT		0		1		0.0		255.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.2		10.7
313010	1790-07-18 EXT		0		1		0.0		261.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		2.3		10.7
313040	1790-10-18 EXT		0		1		0.0		261.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.0		2.3		10.7
311790	1790-11-18 EXT		0		1		0.0		261.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		2.3		10.7
311800	1790-03-19 EXT		0		1		0.0		196.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.1		10.7
013030	1791-09-01		0		0		0.0		0.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
311680	1791-15-12 EXT		0		1		0.0		105.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.6		2.0		10.3
311690	1791-01-13 EXT		0		1		0.0		183.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.1		10.7
308960	1791-03-13 EXT		0		1		0.0		26.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.0		7.4
300280	1791-05-13 EXT		0		1		0.0		34.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.0		7.8
311700	1791-07-13 EXT		0		1		0.0		177.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.2		2.1		10.7
300950	1791-09-13 EXT		0		1		0.0		196.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.1		10.7
309480	1791-11-13 EXT		0		1		0.0		221.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.8		2.2		10.7
011920	1791-11-13 FRC		0		0		0.0		521.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		1.2		10.7
311710	1791-13-13 EXT		0		1		0.0		227.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.0		2.2		10.7
300900	1791-15-13 EXT		0		1		0.0		170.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.1		10.7
300240	1791-01-14 EXT		0		1		0.0		15.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.4		2.0		6.7
009710	1791-03-14 FRC		0		1		0.0		694.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
009750	1791-07-14 FRC		0		1		0.0		684.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
303680	1791-11-14 EXT		0		1		0.0		10.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		2.0		6.4
300120	1791-15-14 EXT		0		1		0.0		9.2		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.0		6.3
009690	1791-01-15 FRC		0		1		0.0		699.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.0		10.7
011930	1791-11-15 FRC		0		1		0.0		661.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.2		10.7
011950	1791-13-15 FRC		0		1		0.0		663.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.3		10.7
009720	1791-03-21 FRC		0		1		0.0		694.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
303700	1791-09-22 EXT		0		1		0.0		44.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.4		2.0		8.5
303710	1791-01-23 EXT		0		1		0.0		47.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.0		8.4
303720	1791-03-23 EXT		0		1		0.0		7.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.0		6.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	GROSS RESERVES						NET RESERVES					GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
		OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF	OIL M$		NGL M$		GAS M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019780	FE ATL RIM OP PNP		0.0		0.0		0.0		0.0		0.0	0.0		0.0		0.0		0.0		0.0		0.0		0.0		10,870.4		-10,870.4		-5,063.7
023030	PLANT EXPENSE PNP		0.0		0.0		0.0		0.0		0.0	0.0		0.0		0.0		0.0		0.0		0.0		0.0		10,594.7		-10,594.7		-4,913.9
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0	0.0		0.0		0.0		0.0		0.0		0.0		0.0		21,465.1		-21,465.1		-9,977.6
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
013050	1790-03-07		0.0		0.0		964.5		0.0		0.0	627.3		0.0		0.0		1,845.7		246.7		214.2		0.0		370.5		1,014.3		550.4
312970	1790-05-07 EXT		0.0		0.0		288.2		0.0		0.0	187.4		0.0		0.0		580.0		77.7		0.0		0.0		148.1		354.2		176.3
312980	1790-07-07 EXT		0.0		0.0		261.8		0.0		0.0	170.3		0.0		0.0		527.1		70.4		0.0		0.0		142.4		314.3		156.7
300290	1790-09-07 EXT		0.0		0.0		249.6		0.0		0.0	162.3		0.0		0.0		502.4		67.2		0.0		0.0		139.7		295.5		147.6
313000	1790-11-07 EXT		0.0		0.0		261.8		0.0		0.0	170.3		0.0		0.0		527.1		70.4		0.0		0.0		142.4		314.3		156.7
311770	1790-13-07 EXT		0.0		0.0		255.6		0.0		0.0	166.2		0.0		0.0		514.5		68.7		0.0		0.0		141.0		304.8		152.1
302300	1790-15-07 EXT		0.0		0.0		249.6		0.0		0.0	162.3		0.0		0.0		502.4		67.2		0.0		0.0		139.7		295.5		147.6
311780	1790-03-18 EXT		0.0		0.0		187.2		0.0		0.0	121.7		0.0		0.0		376.8		50.4		0.0		0.0		126.2		200.2		100.6
311750	1790-05-18 EXT		0.0		0.0		255.6		0.0		0.0	166.2		0.0		0.0		514.5		68.7		0.0		0.0		141.0		304.8		152.1
313010	1790-07-18 EXT		0.0		0.0		261.8		0.0		0.0	170.3		0.0		0.0		527.1		70.4		0.0		0.0		142.4		314.3		156.7
313040	1790-10-18 EXT		0.0		0.0		261.8		0.0		0.0	170.3		0.0		0.0		527.1		70.4		0.0		0.0		142.4		314.3		156.7
311790	1790-11-18 EXT		0.0		0.0		261.8		0.0		0.0	170.3		0.0		0.0		527.1		70.4		0.0		0.0		142.4		314.3		156.7
311800	1790-03-19 EXT		0.0		0.0		196.4		0.0		0.0	127.7		0.0		0.0		395.3		53.0		0.0		0.0		128.3		214.0		107.5
013030	1791-09-01		0.0		0.0		0.0		0.0		0.0	0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
311680	1791-15-12 EXT		0.0		0.0		105.9		0.0		0.0	68.9		0.0		0.0		213.2		28.4		0.0		0.0		100.3		84.5		43.7
311690	1791-01-13 EXT		0.0		0.0		183.0		0.0		0.0	119.0		0.0		0.0		368.3		49.3		0.0		0.0		125.4		193.6		97.4
308960	1791-03-13 EXT		0.0		0.0		26.1		0.0		0.0	17.0		0.0		0.0		52.5		7.0		0.0		0.0		36.0		9.5		5.2
300280	1791-05-13 EXT		0.0		0.0		34.5		0.0		0.0	22.4		0.0		0.0		69.4		9.3		0.0		0.0		44.7		15.4		8.4
311700	1791-07-13 EXT		0.0		0.0		177.0		0.0		0.0	115.1		0.0		0.0		356.1		47.6		0.0		0.0		124.0		184.5		93.0
300950	1791-09-13 EXT		0.0		0.0		196.6		0.0		0.0	127.9		0.0		0.0		395.7		53.0		0.0		0.0		128.3		214.4		107.8
309480	1791-11-13 EXT		0.0		0.0		221.4		0.0		0.0	144.0		0.0		0.0		445.5		59.5		0.0		0.0		133.6		252.4		126.4
011920	1791-11-13 FRC		0.0		0.0		521.6		0.0		0.0	339.2		0.0		0.0		1,041.7		139.2		214.2		0.0		113.0		575.3		250.2
311710	1791-13-13 EXT		0.0		0.0		227.0		0.0		0.0	147.6		0.0		0.0		456.9		61.1		0.0		0.0		134.8		261.0		130.5
300900	1791-15-13 EXT		0.0		0.0		170.3		0.0		0.0	110.7		0.0		0.0		342.7		45.8		0.0		0.0		122.7		174.2		88.0
300240	1791-01-14 EXT		0.0		0.0		15.2		0.0		0.0	9.9		0.0		0.0		30.6		4.2		0.0		0.0		22.6		3.8		2.2
009710	1791-03-14 FRC		0.0		0.0		694.7		0.0		0.0	451.8		0.0		0.0		1,380.6		184.5		214.2		0.0		265.2		716.7		327.9
009750	1791-07-14 FRC		0.0		0.0		684.9		0.0		0.0	445.4		0.0		0.0		1,364.3		182.5		214.2		0.0		260.4		707.2		320.1
303680	1791-11-14 EXT		0.0		0.0		10.0		0.0		0.0	6.5		0.0		0.0		20.1		2.7		0.0		0.0		16.0		1.4		0.8
300120	1791-15-14 EXT		0.0		0.0		9.2		0.0		0.0	6.0		0.0		0.0		18.4		2.5		0.0		0.0		14.5		1.4		0.9
009690	1791-01-15 FRC		0.0		0.0		699.4		0.0		0.0	454.9		0.0		0.0		1,388.3		185.5		214.2		0.0		267.8		720.8		331.6
011930	1791-11-15 FRC		0.0		0.0		661.9		0.0		0.0	430.5		0.0		0.0		1,322.1		176.7		214.2		0.0		251.3		679.9		302.2
011950	1791-13-15 FRC		0.0		0.0		663.8		0.0		0.0	431.7		0.0		0.0		1,326.9		177.2		214.2		0.0		250.1		685.4		303.3
009720	1791-03-21 FRC		0.0		0.0		694.7		0.0		0.0	451.8		0.0		0.0		1,380.6		184.5		214.2		0.0		265.2		716.7		327.9
303700	1791-09-22 EXT		0.0		0.0		44.6		0.0		0.0	29.0		0.0		0.0		89.6		11.9		0.0		0.0		58.1		19.6		10.6
303710	1791-01-23 EXT		0.0		0.0		47.1		0.0		0.0	30.7		0.0		0.0		94.9		12.7		0.0		0.0		57.2		25.0		13.6
303720	1791-03-23 EXT		0.0		0.0		7.0		0.0		0.0	4.5		0.0		0.0		14.1		1.8		0.0		0.0		11.2		1.1		0.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
303740	1791-11-23 EXT		0		1		0.0		11.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.0		6.5
300150	1791-13-23 EXT		0		1		0.0		28.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.5		2.0		7.6
302110	1791-01-24 EXT		0		1		0.0		172.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.1		2.1		10.7
300910	1791-03-24 EXT		0		1		0.0		232.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		6.2		2.2		10.7
300100	1791-05-24 EXT		0		1		0.0		140.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		5.1		2.0		10.7
302930	1791-07-24 EXT		0		1		0.0		196.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.1		10.7
303170	1791-11-24 EXT		0		1		0.0		196.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.1		10.7
300080	1791-13-24 EXT		0		1		0.0		106.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.0		10.3
300390	1791-15-24 EXT		0		1		0.0		227.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		2.2		10.7
300870	1791-03-25 EXT		0		1		0.0		257.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.5		2.2		10.7
314470	1791-06-25 EXT		0		1		0.0		230.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		5.0		2.2		10.7
314510	1791-12-25 EXT		0		1		0.0		294.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.3		10.7
314460	1791-14-25 EXT		0		1		0.0		254.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.7		2.2		10.7
300070	1791-01-26 EXT		0		1		0.0		11.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.0		6.5
300110	1791-03-26 EXT		0		1		0.0		29.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.8		2.0		7.6
300470	1791-05-26 EXT		0		1		0.0		11.3		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.0		6.5
009760	1791-07-26 FRC		0		1		0.0		684.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
315002	1791-10-26 EXT		0		1		0.0		243.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.6		2.2		10.7
314490	1791-16-26 EXT		0		1		0.0		249.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.9		2.2		10.7
300480	1791-01-27 EXT		0		1		0.0		22.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.6		2.0		7.2
300490	1791-03-27 EXT		0		1		0.0		16.5		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.4		2.0		6.8
300500	1791-05-27 EXT		0		1		0.0		47.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.0		2.0		8.5
300520	1791-07-27 EXT		0		1		0.0		49.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.5		2.0		8.7
300960	1791-01-28 EXT		0		1		0.0		22.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.6		2.0		7.2
316600	1791-03-28S EXT		0		1		0.0		10.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.8		2.0		6.3
300940	1791-05-28 EXT		0		1		0.0		12.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.4		2.0		6.6
009770	1791-07-28 FRC		0		1		0.0		679.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.2		10.7
303100	1791-11-28 EXT		0		1		0.0		136.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		5.1		2.0		10.7
303110	1791-13-28 EXT		0		1		0.0		18.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		2.0		7.0
303120	1791-15-28 EXT		0		1		0.0		69.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		4.9		2.0		9.3
011650	1791-03-29		0		1		0.0		1,155.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
009780	1791-07-29 FRC		0		1		0.0		679.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.2		10.7
303130	1791-09-29 EXT		0		1		0.0		156.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		5.3		2.0		10.7
300890	1791-11-29 EXT		0		1		0.0		10.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		2.8		2.0		6.4
303150	1791-13-29 EXT		0		1		0.0		22.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.0		7.2
303160	1791-15-29 EXT		0		1		0.0		38.1		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		3.2		2.0		8.0
	FIELD TOTAL		0		70		0.0		16,779.0
GRACE POINT UNIT FIELD, CARBON COUNTY
321140	1591-13-04 EXT		0		1		0.0		4.6		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		2.6		2.0		6.0
312310	1691-11-28 EXT		0		1		0.0		69.5		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.0		8.5

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
303740	1791-11-23 EXT		0.0		0.0		11.5		0.0		0.0		7.5		0.0		0.0		23.2		3.1		0.0		0.0		17.7		2.4		1.3
300150	1791-13-23 EXT		0.0		0.0		28.6		0.0		0.0		18.6		0.0		0.0		57.4		7.7		0.0		0.0		39.4		10.3		5.7
302110	1791-01-24 EXT		0.0		0.0		172.0		0.0		0.0		111.9		0.0		0.0		346.2		46.2		0.0		0.0		123.0		177.0		89.2
300910	1791-03-24 EXT		0.0		0.0		232.9		0.0		0.0		151.5		0.0		0.0		468.8		62.6		0.0		0.0		136.1		270.1		135.0
300100	1791-05-24 EXT		0.0		0.0		140.0		0.0		0.0		91.0		0.0		0.0		281.7		37.5		0.0		0.0		116.1		128.1		65.3
302930	1791-07-24 EXT		0.0		0.0		196.6		0.0		0.0		127.9		0.0		0.0		395.7		53.0		0.0		0.0		128.3		214.4		107.8
303170	1791-11-24 EXT		0.0		0.0		196.6		0.0		0.0		127.9		0.0		0.0		395.7		53.0		0.0		0.0		128.3		214.4		107.8
300080	1791-13-24 EXT		0.0		0.0		106.9		0.0		0.0		69.5		0.0		0.0		215.2		28.8		0.0		0.0		100.6		85.8		44.5
300390	1791-15-24 EXT		0.0		0.0		227.0		0.0		0.0		147.6		0.0		0.0		456.9		61.1		0.0		0.0		134.8		261.0		130.5
300870	1791-03-25 EXT		0.0		0.0		257.8		0.0		0.0		167.7		0.0		0.0		519.0		69.5		0.0		0.0		141.5		308.0		153.6
314470	1791-06-25 EXT		0.0		0.0		230.4		0.0		0.0		149.8		0.0		0.0		463.6		61.9		0.0		0.0		135.6		266.1		133.1
314510	1791-12-25 EXT		0.0		0.0		294.3		0.0		0.0		191.4		0.0		0.0		592.4		79.3		0.0		0.0		149.5		363.6		181.0
314460	1791-14-25 EXT		0.0		0.0		254.9		0.0		0.0		165.8		0.0		0.0		513.0		68.6		0.0		0.0		140.8		303.6		151.5
300070	1791-01-26 EXT		0.0		0.0		11.4		0.0		0.0		7.4		0.0		0.0		22.8		3.0		0.0		0.0		17.7		2.1		1.2
300110	1791-03-26 EXT		0.0		0.0		29.3		0.0		0.0		19.1		0.0		0.0		58.9		7.8		0.0		0.0		39.6		11.5		6.3
300470	1791-05-26 EXT		0.0		0.0		11.3		0.0		0.0		7.3		0.0		0.0		22.7		3.0		0.0		0.0		17.6		2.1		1.2
009760	1791-07-26 FRC		0.0		0.0		684.9		0.0		0.0		445.4		0.0		0.0		1,364.3		182.5		214.2		0.0		260.4		707.2		320.1
315002	1791-10-26 EXT		0.0		0.0		243.8		0.0		0.0		158.6		0.0		0.0		490.8		65.7		0.0		0.0		138.6		286.5		143.2
314490	1791-16-26 EXT		0.0		0.0		249.4		0.0		0.0		162.2		0.0		0.0		502.0		67.2		0.0		0.0		139.7		295.1		147.3
300480	1791-01-27 EXT		0.0		0.0		22.1		0.0		0.0		14.3		0.0		0.0		44.4		6.0		0.0		0.0		31.1		7.3		4.1
300490	1791-03-27 EXT		0.0		0.0		16.5		0.0		0.0		10.7		0.0		0.0		33.2		4.4		0.0		0.0		24.3		4.5		2.5
300500	1791-05-27 EXT		0.0		0.0		47.7		0.0		0.0		31.0		0.0		0.0		96.0		12.7		0.0		0.0		58.8		24.5		13.2
300520	1791-07-27 EXT		0.0		0.0		49.7		0.0		0.0		32.3		0.0		0.0		100.0		13.5		0.0		0.0		63.2		23.3		12.6
300960	1791-01-28 EXT		0.0		0.0		22.0		0.0		0.0		14.3		0.0		0.0		44.3		6.0		0.0		0.0		31.1		7.2		4.1
316600	1791-03-28S EXT		0.0		0.0		10.1		0.0		0.0		6.5		0.0		0.0		20.3		2.7		0.0		0.0		14.7		2.9		1.7
300940	1791-05-28 EXT		0.0		0.0		12.6		0.0		0.0		8.2		0.0		0.0		25.5		3.4		0.0		0.0		19.3		2.8		1.5
009770	1791-07-28 FRC		0.0		0.0		679.8		0.0		0.0		442.1		0.0		0.0		1,355.4		181.2		214.2		0.0		257.9		702.1		316.1
303100	1791-11-28 EXT		0.0		0.0		136.8		0.0		0.0		89.0		0.0		0.0		275.3		36.9		0.0		0.0		115.3		123.1		62.9
303110	1791-13-28 EXT		0.0		0.0		18.9		0.0		0.0		12.3		0.0		0.0		38.0		5.1		0.0		0.0		27.6		5.3		3.0
303120	1791-15-28 EXT		0.0		0.0		69.9		0.0		0.0		45.5		0.0		0.0		140.7		18.8		0.0		0.0		76.0		45.9		24.3
011650	1791-03-29		0.0		0.0		1,155.9		0.0		0.0		751.7		0.0		0.0		2,214.5		295.9		146.8		0.0		412.0		1,359.8		775.2
009780	1791-07-29 FRC		0.0		0.0		679.8		0.0		0.0		442.1		0.0		0.0		1,355.4		181.2		214.2		0.0		251.0		709.0		320.6
303130	1791-09-29 EXT		0.0		0.0		156.1		0.0		0.0		101.5		0.0		0.0		314.1		42.0		0.0		0.0		119.4		152.7		77.2
300890	1791-11-29 EXT		0.0		0.0		10.0		0.0		0.0		6.5		0.0		0.0		20.1		2.7		0.0		0.0		16.0		1.4		0.8
303150	1791-13-29 EXT		0.0		0.0		22.0		0.0		0.0		14.3		0.0		0.0		44.3		6.0		0.0		0.0		31.1		7.2		4.1
303160	1791-15-29 EXT		0.0		0.0		38.1		0.0		0.0		24.8		0.0		0.0		76.6		10.2		0.0		0.0		48.3		18.1		9.8
	FIELD TOTAL		0.0		0.0		16,778.8		0.0		0.0		10,911.9		0.0		0.0		33,428.0		4,468.7		2,503.0		0.0		8,551.3		17,905.0		8,769.3
GRACE POINT UNIT FIELD, CARBON COUNTY
321140	1591-13-04 EXT		0.0		0.0		4.6		0.0		0.0		3.2		0.0		0.0		9.9		1.3		0.0		0.0		8.1		0.5		0.3
312310	1691-11-28 EXT		0.0		0.0		69.5		0.0		0.0		47.7		0.0		0.0		147.7		19.7		0.0		0.0		64.9		63.1		34.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
316570	1691-13-28 EXT		0		1		0.0		9.9		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.0		6.4
009640	1691-15-29 FRC		0		1		0.0		721.5		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
	FIELD TOTAL		0		4		0.0		805.5
SUN DOG UNIT FIELD, CARBON COUNTY
023130	1691-04-02 FRC		0		1		0.0		808.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
009900	1691-06-02 FRC		0		1		0.0		797.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
010030	1691-12-02 FRC		0		1		0.0		761.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
009810	1691-02-03 FRC		0		1		0.0		816.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
009850	1691-04-03 FRC		0		1		0.0		806.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
009910	1691-06-03 FRC		0		1		0.0		797.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
012540	1691-07-03		0		1		0.0		727.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
023140	1691-08-03 FRC		0		1		0.0		784.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
009990	1691-10-03 FRC		0		1		0.0		776.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
012490	1691-11-03		0		1		0.0		727.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
010040	1691-12-03 FRC		0		1		0.0		758.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
023150	1691-14-03 FRC		0		1		0.0		737.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
302280	1691-02-04 EXT		0		1		0.0		9.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.3		2.0		6.3
023160	1691-02-04 FRC		0		1		0.0		587.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.1		10.7
009860	1691-04-04 FRC		0		1		0.0		806.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
012440	1691-05-04		0		1		0.0		727.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
009920	1691-06-04 FRC		0		1		0.0		794.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
012550	1691-07-04		0		1		0.0		727.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
313020	1691-08-04 EXT		0		1		0.0		277.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		4.1		2.3		10.7
023170	1691-10-04 FRC		0		1		0.0		773.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
010050	1691-12-04 FRC		0		1		0.0		758.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
010100	1691-14-04 FRC		0		1		0.0		737.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
009820	1691-02-05 FRC		0		1		0.0		814.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
009870	1691-04-05 FRC		0		1		0.0		806.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
012530	1691-05-05		0		1		0.0		727.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
023180	1691-06-05 FRC		0		1		0.0		781.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
009960	1691-08-05 FRC		0		1		0.0		784.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
012470	1691-09-05		0		1		0.0		727.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
023190	1691-10-05 FRC		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
010060	1691-12-05 FRC		0		1		0.0		755.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.7		10.7
023210	1691-16-05 FRC		0		1		0.0		333.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
023220	1691-02-08 FRC		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
023230	1691-06-08 FRC		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
300700	1691-08-08 EXT		0		1		0.0		9.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.0		6.3
303760	1691-12-08 EXT		0		1		0.0		3.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.7		2.0		5.9
303780	1691-16-08 EXT		0		1		0.0		31.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.8		2.0		7.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
316570	1691-13-28 EXT		0.0		0.0		9.9		0.0		0.0		6.8		0.0		0.0		21.0		2.8		0.0		0.0		16.3		1.9		1.1
009640	1691-15-29 FRC		0.0		0.0		721.5		0.0		0.0		495.4		0.0		0.0		1,503.2		201.0		218.9		0.0		285.8		797.5		379.7
	FIELD TOTAL		0.0		0.0		805.5		0.0		0.0		553.1		0.0		0.0		1,681.8		224.8		218.9		0.0		375.1		863.0		415.5
SUN DOG UNIT FIELD, CARBON COUNTY
023130	1691-04-02 FRC		0.0		0.0		808.2		0.0		0.0		460.4		0.0		0.0		1,340.3		179.2		187.2		0.0		295.5		678.4		382.0
009900	1691-06-02 FRC		0.0		0.0		797.2		0.0		0.0		454.1		0.0		0.0		1,332.0		178.1		187.2		0.0		287.3		679.4		370.6
010030	1691-12-02 FRC		0.0		0.0		761.6		0.0		0.0		433.9		0.0		0.0		1,297.0		173.2		187.2		0.0		264.9		671.7		338.2
009810	1691-02-03 FRC		0.0		0.0		816.1		0.0		0.0		464.9		0.0		0.0		1,345.2		180.0		187.2		0.0		301.8		676.2		391.3
009850	1691-04-03 FRC		0.0		0.0		806.1		0.0		0.0		459.2		0.0		0.0		1,338.8		178.9		187.2		0.0		293.9		678.8		379.8
009910	1691-06-03 FRC		0.0		0.0		797.2		0.0		0.0		454.1		0.0		0.0		1,332.0		178.1		187.2		0.0		287.3		679.4		370.6
012540	1691-07-03		0.0		0.0		727.8		0.0		0.0		414.6		0.0		0.0		1,212.5		162.0		187.2		0.0		279.0		584.3		318.0
023140	1691-08-03 FRC		0.0		0.0		784.8		0.0		0.0		447.1		0.0		0.0		1,321.0		176.6		187.2		0.0		279.1		678.1		358.5
009990	1691-10-03 FRC		0.0		0.0		776.6		0.0		0.0		442.4		0.0		0.0		1,313.1		175.5		187.2		0.0		273.8		676.6		351.1
012490	1691-11-03		0.0		0.0		727.8		0.0		0.0		414.6		0.0		0.0		1,212.5		162.0		187.2		0.0		279.0		584.3		318.0
010040	1691-12-03 FRC		0.0		0.0		758.4		0.0		0.0		432.0		0.0		0.0		1,293.5		173.1		187.2		0.0		263.2		670.0		335.5
023150	1691-14-03 FRC		0.0		0.0		737.3		0.0		0.0		420.0		0.0		0.0		1,268.3		169.3		187.2		0.0		251.9		659.9		319.3
302280	1691-02-04 EXT		0.0		0.0		9.2		0.0		0.0		5.2		0.0		0.0		16.2		2.2		0.0		0.0		12.6		1.4		0.8
023160	1691-02-04 FRC		0.0		0.0		587.5		0.0		0.0		334.7		0.0		0.0		968.2		129.4		187.2		0.0		175.3		476.3		268.0
009860	1691-04-04 FRC		0.0		0.0		806.1		0.0		0.0		459.2		0.0		0.0		1,338.8		178.9		187.2		0.0		248.0		724.7		415.9
012440	1691-05-04		0.0		0.0		727.8		0.0		0.0		414.6		0.0		0.0		1,212.5		162.0		187.2		0.0		279.0		584.3		318.0
009920	1691-06-04 FRC		0.0		0.0		794.9		0.0		0.0		452.8		0.0		0.0		1,329.9		177.7		187.2		0.0		266.4		698.6		383.8
012550	1691-07-04		0.0		0.0		727.8		0.0		0.0		414.6		0.0		0.0		1,212.5		162.0		187.2		0.0		279.0		584.3		318.0
313020	1691-08-04 EXT		0.0		0.0		277.2		0.0		0.0		157.9		0.0		0.0		488.7		65.3		0.0		0.0		127.3		296.1		147.5
023170	1691-10-04 FRC		0.0		0.0		773.8		0.0		0.0		440.8		0.0		0.0		1,310.3		175.2		187.2		0.0		272.1		675.8		348.6
010050	1691-12-04 FRC		0.0		0.0		758.4		0.0		0.0		432.0		0.0		0.0		1,293.5		173.1		187.2		0.0		263.2		670.0		335.5
010100	1691-14-04 FRC		0.0		0.0		737.3		0.0		0.0		420.0		0.0		0.0		1,268.3		169.3		187.2		0.0		251.9		659.9		319.3
009820	1691-02-05 FRC		0.0		0.0		814.2		0.0		0.0		463.8		0.0		0.0		1,344.2		179.5		187.2		0.0		284.4		693.1		403.1
009870	1691-04-05 FRC		0.0		0.0		806.1		0.0		0.0		459.2		0.0		0.0		1,338.8		178.9		187.2		0.0		293.9		678.8		379.8
012530	1691-05-05		0.0		0.0		727.8		0.0		0.0		414.6		0.0		0.0		1,212.5		162.0		187.2		0.0		279.0		584.3		318.0
023180	1691-06-05 FRC		0.0		0.0		781.5		0.0		0.0		445.2		0.0		0.0		1,307.6		174.8		187.2		0.0		283.2		662.4		357.9
009960	1691-08-05 FRC		0.0		0.0		784.8		0.0		0.0		447.1		0.0		0.0		1,321.0		176.6		187.2		0.0		269.4		687.8		366.4
012470	1691-09-05		0.0		0.0		727.8		0.0		0.0		414.6		0.0		0.0		1,212.5		162.0		187.2		0.0		279.0		584.3		318.0
023190	1691-10-05 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
010060	1691-12-05 FRC		0.0		0.0		755.1		0.0		0.0		430.1		0.0		0.0		1,289.6		172.4		187.2		0.0		261.3		668.7		333.0
023210	1691-16-05 FRC		0.0		0.0		333.0		0.0		0.0		189.7		0.0		0.0		575.9		77.1		187.2		0.0		169.3		142.3		39.3
023220	1691-02-08 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
023230	1691-06-08 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
300700	1691-08-08 EXT		0.0		0.0		9.0		0.0		0.0		5.1		0.0		0.0		15.8		2.2		0.0		0.0		12.6		1.0		0.6
303760	1691-12-08 EXT		0.0		0.0		3.8		0.0		0.0		2.1		0.0		0.0		6.6		0.9		0.0		0.0		5.5		0.2		0.1
303780	1691-16-08 EXT		0.0		0.0		31.1		0.0		0.0		17.7		0.0		0.0		55.0		7.4		0.0		0.0		36.1		11.5		6.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE					WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL			GAS MMCF
		OIL		GAS							START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
023280	1691-02-09 FRC		0		1		0.0			625.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.2		10.7
023290	1691-04-09 FRC		0		1		0.0			675.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.2		10.7
023300	1691-06-09 FRC		0		1		0.0			667.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
009970	1691-08-09 FRC		0		1		0.0			782.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
023310	1691-10-09 FRC		0		1		0.0			770.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
023320	1691-12-09 FRC		0		1		0.0			579.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
002810	1691-02-10		0		1		0.0			527.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.5
009930	1691-06-10 FRC		0		1		0.0			790.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
023340	1691-04-15 FRC		0		1		0.0			804.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
010000	1691-10-15 FRC		0		1		0.0			767.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
010070	1691-12-15 FRC		0		1		0.0			713.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
010110	1691-14-15 FRC		0		1		0.0			733.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
010160	1691-16-15 FRC		0		1		0.0			713.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
023350	1691-02-16 FRC		0		1		0.0			812.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
023360	1691-04-16 FRC		0		1		0.0			685.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
023370	1691-06-16 FRC		0		1		0.0			790.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
023380	1691-08-16 FRC		0		1		0.0			644.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
023390	1691-10-16 FRC		0		1		0.0			374.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.2		10.7
023400	1691-12-16 FRC		0		1		0.0			466.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
023410	1691-14-16 FRC		0		1		0.0			482.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
300640	1691-04-17 EXT		0		1		0.0			16.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.0		6.9
303800	1691-06-17 EXT		0		1		0.0			103.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		6.3		2.0		10.2
023460	1691-10-17 FRC		0		0		0.0			0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
010080	1691-12-17 FRC		0		1		0.0			689.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
023470	1691-14-17 FRC		0		1		0.0			438.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
023480	1691-16-17 FRC		0		0		0.0			0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
010090	1691-12-18 FRC		0		0		0.0			0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
010120	1691-14-18 FRC		0		1		0.0			326.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.2		10.7
010170	1691-16-18 FRC		0		1		0.0			704.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.0		10.7
009830	1691-02-19 FRC		0		1		0.0	��		810.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
013090	1691-04-19 FRC		0		1		0.0			663.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.3		10.7
009980	1691-08-19 FRC		0		1		0.0			776.3		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
010010	1691-10-19 FRC		0		1		0.0			764.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
013110	1691-12-19 FRC		0		1		0.0			663.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.3		10.7
010180	1691-16-19 FRC		0		1		0.0			704.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.0		10.7
300670	1691-02-20 EXT		0		1		0.0			4.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.1		2.0		6.0
023490	1691-04-20 FRC		0		1		0.0			801.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
301970	1691-10-20 EXT		0		1		0.0			37.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		4.0		2.0		8.0
010130	1691-14-20 FRC		0		1		0.0			725.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
023500	1691-16-20 FRC		0		1		0.0			673.1		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.0		10.7
009880	1691-04-21 FRC		0		1		0.0			799.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
		OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
023280	1691-02-09 FRC		0.0		0.0		625.3		0.0		0.0		356.2		0.0		0.0		1,031.9		138.0		187.2		0.0		264.6		442.1		237.8
023290	1691-04-09 FRC		0.0		0.0		675.7		0.0		0.0		384.9		0.0		0.0		1,123.7		150.1		187.2		0.0		267.9		518.5		277.4
023300	1691-06-09 FRC		0.0		0.0		667.9		0.0		0.0		380.5		0.0		0.0		1,119.1		149.7		187.2		0.0		260.4		521.8		270.7
009970	1691-08-09 FRC		0.0		0.0		782.2		0.0		0.0		445.6		0.0		0.0		1,318.6		176.2		187.2		0.0		277.3		677.9		356.1
023310	1691-10-09 FRC		0.0		0.0		770.8		0.0		0.0		439.1		0.0		0.0		1,307.4		174.7		187.2		0.0		270.4		675.1		346.1
023320	1691-12-09 FRC		0.0		0.0		579.4		0.0		0.0		330.1		0.0		0.0		990.7		132.5		187.2		0.0		227.0		444.0		206.8
002810	1691-02-10		0.0		0.0		518.8		0.0		0.0		295.5		0.0		0.0		867.9		116.0		104.0		0.0		235.7		412.2		226.0
009930	1691-06-10 FRC		0.0		0.0		790.0		0.0		0.0		450.0		0.0		0.0		1,325.8		177.3		187.2		0.0		282.4		678.9		363.3
023340	1691-04-15 FRC		0.0		0.0		804.0		0.0		0.0		458.0		0.0		0.0		1,337.3		178.8		187.2		0.0		292.3		679.0		377.6
010000	1691-10-15 FRC		0.0		0.0		767.8		0.0		0.0		437.4		0.0		0.0		1,303.8		174.2		187.2		0.0		268.4		674.0		343.6
010070	1691-12-15 FRC		0.0		0.0		713.1		0.0		0.0		406.2		0.0		0.0		1,219.6		163.1		187.2		0.0		252.2		617.1		302.5
010110	1691-14-15 FRC		0.0		0.0		733.5		0.0		0.0		417.8		0.0		0.0		1,263.4		168.9		187.2		0.0		250.0		657.3		316.3
010160	1691-16-15 FRC		0.0		0.0		713.0		0.0		0.0		406.2		0.0		0.0		1,235.4		165.1		187.2		0.0		240.1		643.0		300.9
023350	1691-02-16 FRC		0.0		0.0		812.3		0.0		0.0		462.7		0.0		0.0		1,342.9		179.6		187.2		0.0		298.8		677.3		386.7
023360	1691-04-16 FRC		0.0		0.0		685.6		0.0		0.0		390.6		0.0		0.0		1,142.0		152.6		187.2		0.0		268.6		533.6		284.8
023370	1691-06-16 FRC		0.0		0.0		790.0		0.0		0.0		450.0		0.0		0.0		1,325.8		177.3		187.2		0.0		282.4		678.9		363.3
023380	1691-08-16 FRC		0.0		0.0		644.4		0.0		0.0		367.1		0.0		0.0		1,086.0		145.0		187.2		0.0		251.3		502.5		252.8
023390	1691-10-16 FRC		0.0		0.0		374.5		0.0		0.0		213.3		0.0		0.0		635.5		85.4		187.2		0.0		194.2		168.7		55.5
023400	1691-12-16 FRC		0.0		0.0		466.6		0.0		0.0		265.8		0.0		0.0		797.7		106.4		187.2		0.0		205.5		298.6		126.0
023410	1691-14-16 FRC		0.0		0.0		482.0		0.0		0.0		274.6		0.0		0.0		831.0		111.3		187.2		0.0		201.1		331.4		140.6
300640	1691-04-17 EXT		0.0		0.0		16.8		0.0		0.0		9.6		0.0		0.0		29.7		3.9		0.0		0.0		22.6		3.2		1.8
303800	1691-06-17 EXT		0.0		0.0		103.8		0.0		0.0		59.1		0.0		0.0		182.8		24.5		0.0		0.0		86.2		72.1		37.5
023460	1691-10-17 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
010080	1691-12-17 FRC		0.0		0.0		689.9		0.0		0.0		393.0		0.0		0.0		1,181.6		158.0		187.2		0.0		246.7		589.7		286.0
023470	1691-14-17 FRC		0.0		0.0		438.0		0.0		0.0		249.5		0.0		0.0		755.1		101.1		187.2		0.0		192.7		274.1		109.9
023480	1691-16-17 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
010090	1691-12-18 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
010120	1691-14-18 FRC		0.0		0.0		326.6		0.0		0.0		186.1		0.0		0.0		563.4		75.3		187.2		0.0		170.5		130.4		33.0
010170	1691-16-18 FRC		0.0		0.0		704.1		0.0		0.0		401.1		0.0		0.0		1,222.8		163.3		187.2		0.0		235.8		636.5		294.4
009830	1691-02-19 FRC		0.0		0.0		810.3		0.0		0.0		461.6		0.0		0.0		1,341.6		179.3		187.2		0.0		297.2		677.9		384.5
013090	1691-04-19 FRC		0.0		0.0		663.8		0.0		0.0		378.1		0.0		0.0		1,162.3		155.1		187.2		0.0		218.5		601.5		266.2
009980	1691-08-19 FRC		0.0		0.0		776.3		0.0		0.0		442.2		0.0		0.0		1,310.6		175.3		187.2		0.0		241.2		706.9		376.5
010010	1691-10-19 FRC		0.0		0.0		764.8		0.0		0.0		435.7		0.0		0.0		1,300.5		173.8		187.2		0.0		266.6		672.9		340.8
013110	1691-12-19 FRC		0.0		0.0		663.8		0.0		0.0		378.1		0.0		0.0		1,162.3		155.1		187.2		0.0		218.5		601.5		266.2
010180	1691-16-19 FRC		0.0		0.0		704.1		0.0		0.0		401.1		0.0		0.0		1,222.8		163.3		187.2		0.0		235.8		636.5		294.4
300670	1691-02-20 EXT		0.0		0.0		4.8		0.0		0.0		2.7		0.0		0.0		8.4		1.1		0.0		0.0		6.9		0.4		0.2
023490	1691-04-20 FRC		0.0		0.0		801.8		0.0		0.0		456.7		0.0		0.0		1,335.6		178.5		187.2		0.0		290.7		679.2		375.1
301970	1691-10-20 EXT		0.0		0.0		37.7		0.0		0.0		21.4		0.0		0.0		66.4		8.9		0.0		0.0		42.2		15.3		8.4
010130	1691-14-20 FRC		0.0		0.0		725.6		0.0		0.0		413.3		0.0		0.0		1,252.7		167.4		187.2		0.0		245.9		652.2		310.2
023500	1691-16-20 FRC		0.0		0.0		673.1		0.0		0.0		383.5		0.0		0.0		1,169.1		156.3		187.2		0.0		230.0		595.6		273.3
009880	1691-04-21 FRC		0.0		0.0		799.5		0.0		0.0		455.5		0.0		0.0		1,333.7		178.2		187.2		0.0		288.9		679.4		372.9

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
009940	1691-06-21 FRC		0		1		0.0		787.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
301940	1691-08-21 EXT		0		1		0.0		2.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.0		2.0		5.8
023520	1691-08-21 FRC		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
010020	1691-10-21 FRC		0		1		0.0		764.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.6		10.7
023530	1691-12-21 FRC		0		1		0.0		525.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.4		10.7
010140	1691-14-21 FRC		0		1		0.0		642.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
002860	1691-06-22		0		1		0.0		899.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.1		10.7
009840	1691-02-29 FRC		0		1		0.0		808.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.3		10.7
023540	1691-04-29 FRC		0		1		0.0		326.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.0		10.7
009950	1691-06-29 FRC		0		1		0.0		787.4		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
023550	1691-08-29 FRC		0		1		0.0		776.6		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.5		10.7
302690	1791-12-26 EXT		0		1		0.0		4.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.0		2.0		6.0
302660	1791-02-34 EXT		0		1		0.0		45.5		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		4.3		2.0		8.3
302700	1791-10-34 EXT		0		1		0.0		17.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.5		2.0		6.9
302720	1791-16-34 EXT		0		1		0.0		47.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.8		2.0		8.4
302740	1791-02-35 EXT		0		1		0.0		41.7		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.7		2.0		8.2
302750	1791-04-35 EXT		0		1		0.0		20.2		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		3.2		2.0		7.1
302760	1791-06-35 EXT		0		1		0.0		25.9		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		2.9		2.0		7.4
010200	1791-12-35 FRC		0		1		0.0		663.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.3		10.7
010190	1791-04-36 FRC		0		1		0.0		689.8		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
	FIELD TOTAL		0		90		0.0		52,261.8
	PROSPECT TOTAL		0		164		0.0		69,846.4
	TOTAL WYOMING		0		164		0.0		69,846.4
	TOTAL ALL LEASES		0		164		0.0		69,846.4

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED NON-PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
009940	1691-06-21 FRC		0.0		0.0		787.4		0.0		0.0		448.6		0.0		0.0		1,323.5		176.8		187.2		0.0		280.5		679.0		361.0
301940	1691-08-21 EXT		0.0		0.0		2.8		0.0		0.0		1.6		0.0		0.0		5.0		0.7		0.0		0.0		4.1		0.2		0.1
023520	1691-08-21 FRC		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
010020	1691-10-21 FRC		0.0		0.0		764.8		0.0		0.0		435.7		0.0		0.0		1,300.5		173.8		187.2		0.0		266.6		672.9		340.8
023530	1691-12-21 FRC		0.0		0.0		525.9		0.0		0.0		299.6		0.0		0.0		901.7		120.5		187.2		0.0		214.3		379.7		169.4
010140	1691-14-21 FRC		0.0		0.0		642.9		0.0		0.0		366.2		0.0		0.0		1,111.2		148.4		187.2		0.0		229.1		546.5		252.8
002860	1691-06-22		0.0		0.0		861.1		0.0		0.0		490.5		0.0		0.0		1,435.6		191.7		104.0		0.0		304.4		835.5		497.1
009840	1691-02-29 FRC		0.0		0.0		808.2		0.0		0.0		460.4		0.0		0.0		1,340.3		179.2		187.2		0.0		295.5		678.4		382.0
023540	1691-04-29 FRC		0.0		0.0		326.4		0.0		0.0		185.9		0.0		0.0		544.7		72.7		187.2		0.0		198.3		86.5		7.9
009950	1691-06-29 FRC		0.0		0.0		787.4		0.0		0.0		448.6		0.0		0.0		1,323.5		176.8		187.2		0.0		280.5		679.0		361.0
023550	1691-08-29 FRC		0.0		0.0		776.6		0.0		0.0		442.4		0.0		0.0		1,313.1		175.5		187.2		0.0		273.8		676.6		351.1
302690	1791-12-26 EXT		0.0		0.0		4.8		0.0		0.0		2.7		0.0		0.0		8.4		1.1		0.0		0.0		6.9		0.4		0.2
302660	1791-02-34 EXT		0.0		0.0		45.5		0.0		0.0		25.9		0.0		0.0		80.3		10.7		0.0		0.0		48.6		21.0		11.4
302700	1791-10-34 EXT		0.0		0.0		17.8		0.0		0.0		10.1		0.0		0.0		31.3		4.2		0.0		0.0		22.7		4.4		2.5
302720	1791-16-34 EXT		0.0		0.0		47.0		0.0		0.0		26.8		0.0		0.0		82.8		11.0		0.0		0.0		50.0		21.8		11.8
302740	1791-02-35 EXT		0.0		0.0		41.7		0.0		0.0		23.7		0.0		0.0		73.6		9.9		0.0		0.0		45.4		18.3		9.9
302750	1791-04-35 EXT		0.0		0.0		20.2		0.0		0.0		11.5		0.0		0.0		35.5		4.7		0.0		0.0		25.6		5.2		3.0
302760	1791-06-35 EXT		0.0		0.0		25.9		0.0		0.0		14.7		0.0		0.0		45.6		6.0		0.0		0.0		31.4		8.2		4.5
010200	1791-12-35 FRC		0.0		0.0		663.8		0.0		0.0		378.1		0.0		0.0		1,162.3		155.1		187.2		0.0		218.5		601.5		266.2
010190	1791-04-36 FRC		0.0		0.0		689.8		0.0		0.0		393.0		0.0		0.0		1,202.4		160.9		187.2		0.0		229.6		624.7		284.4
	FIELD TOTAL		0.0		0.0		52,214.8		0.0		0.0		29,744.4		0.0		0.0		88,252.8		11,795.2		13,499.2		0.0		19,358.5		43,599.9		22,494.0
	PROSPECT TOTAL		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.0		0.0		123,362.6		16,488.7		16,221.1		0.0		49,750.0		40,902.8		21,701.2
	TOTAL WYOMING		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.0		0.0		123,362.6		16,488.7		16,221.1		0.0		49,750.0		40,902.8		21,701.2
	TOTAL ALL LEASES		0.0		0.0		69,799.1		0.0		0.0		41,209.5		0.0		0.0		123,362.6		16,488.7		16,221.1		0.0		49,750.0		40,902.8		21,701.2

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

PERIOD ENDING M-D-Y	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
12-31-2017		0.0		0.0		56.7		0.0		0.0		36.9		0.000		0.000		2.685		0.0		0.0		99.1		99.1
12-31-2018		0.0		0.0		221.6		0.0		0.0		144.1		0.000		0.000		2.701		0.0		0.0		389.1		389.1
12-31-2019		0.0		0.0		620.8		0.0		0.0		403.7		0.000		0.000		2.735		0.0		0.0		1,104.1		1,104.1
12-31-2020		0.0		0.0		1,329.8		0.0		0.0		864.8		0.000		0.000		2.820		0.0		0.0		2,438.9		2,438.9
12-31-2021		0.0		0.0		1,497.9		0.0		0.0		974.1		0.000		0.000		2.945		0.0		0.0		2,868.8		2,868.8
12-31-2022		0.0		0.0		1,485.9		0.0		0.0		966.4		0.000		0.000		3.095		0.0		0.0		2,990.8		2,990.8
12-31-2023		0.0		0.0		1,471.1		0.0		0.0		956.7		0.000		0.000		3.095		0.0		0.0		2,960.8		2,960.8
12-31-2024		0.0		0.0		1,383.7		0.0		0.0		899.9		0.000		0.000		3.095		0.0		0.0		2,785.3		2,785.3
12-31-2025		0.0		0.0		1,090.3		0.0		0.0		709.1		0.000		0.000		3.095		0.0		0.0		2,194.5		2,194.5
12-31-2026		0.0		0.0		818.4		0.0		0.0		532.2		0.000		0.000		3.095		0.0		0.0		1,647.2		1,647.2
12-31-2027		0.0		0.0		224.5		0.0		0.0		146.0		0.000		0.000		3.095		0.0		0.0		452.0		452.0
04-30-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.000		0.000		3.004		0.0		0.0		19,930.6		19,930.6
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.000		0.000		3.004		0.0		0.0		19,930.6		19,930.6
CUM PROD		0.0				0.0
ULTIMATE		0.0				10,200.6

PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
					TAXES				CAPITAL COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION M$		AD VALOREM M$								PERIOD M$		CUM M$		CUM M$		DISC RATE %		CUM PW M$
	GROSS		NET
12-31-2016		0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		8.000		2,558.6
12-31-2017		10		7.9		5.8		7.2		6,828.2		0.0		120.1		-6,862.2		-6,862.2		-6,375.7		12.000		1,437.4
12-31-2018		12		9.5		23.4		28.6		1,088.8		0.0		241.8		-993.5		-7,855.7		-7,237.8		15.000		652.5
12-31-2019		12		9.5		66.6		81.2		0.0		0.0		333.7		622.6		-7,233.1		-6,770.7		20.000		-487.0
12-31-2020		12		9.5		147.4		178.9		0.0		0.0		487.2		1,625.4		-5,607.7		-5,654.4		25.000		-1,407.2
12-31-2021		12		9.5		173.4		210.2		0.0		0.0		523.6		1,961.6		-3,646.1		-4,426.1		30.000		-2,125.3
12-31-2022		12		9.5		180.6		219.2		0.0		0.0		521.1		2,069.9		-1,576.2		-3,247.7		35.000		-2,676.1
12-31-2023		12		9.5		179.0		217.1		0.0		-11,525.8		517.7		13,572.8		11,996.6		3,990.2		40.000		-3,091.4
12-31-2024		12		9.5		168.0		204.2		0.0		0.0		498.8		1,914.3		13,910.9		4,891.6		45.000		-3,401.2
12-31-2025		12		9.5		132.5		160.7		0.0		0.0		435.4		1,465.9		15,376.8		5,519.9		50.000		-3,627.3
12-31-2026		12		9.5		99.3		120.6		0.0		0.0		404.3		1,023.0		16,399.8		5,919.0
12-31-2027		12		9.5		27.3		33.1		0.0		0.0		308.6		83.0		16,482.8		5,949.2
04-30-2028		0		0.0		0.0		0.0		0.0		12,081.1		0.0		-12,081.1		4,401.7		1,991.3
SUBTOTAL						1,203.3		1,461.0		7,917.0		555.3		4,392.3		4,401.7		4,401.7		1,991.3
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		4,401.7		1,991.3
TOTAL OF 11.8 YRS						1,203.3		1,461.0		7,917.0		555.3		4,392.3		4,401.7		4,401.7		1,991.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019750	FE ATL RIM OP PUD		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		235.3		235.3		10.7
023060	PLANT EXPENSE PUD		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		224.8		224.8		10.7
	FIELD TOTAL		0		0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
015590	1790-03-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015610	1790-05-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015510	1790-13-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015600	1790-05-17		0		1		0.0		799.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
015450	1790-01-18		0		1		0.0		761.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.2		10.7
015690	1790-09-18		0		1		0.0		794.7		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
015001	1790-13-18		0		1		0.0		799.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
015460	1790-01-19		0		1		0.0		751.8		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
011810	1790-05-19		0		1		0.0		796.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
015640	1790-07-19		0		1		0.0		796.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.8		10.7
011830	1790-13-19		0		1		0.0		792.4		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		2.9		10.7
015900	1791-09-02		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015780	1791-15-02		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015730	1791-01-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015870	1791-07-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015890	1791-09-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015770	1791-15-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015850	1791-05-12		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015750	1791-11-12		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015820	1791-03-15		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011630	1791-09-20		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011730	1791-01-25		0		1		0.0		979.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.0		10.7
000970	1791-04-25		0		1		0.0		979.6		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.0		10.7
011760	1791-09-25		0		1		0.0		974.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
012360	1791-16-25		0		1		0.0		974.9		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		2.388		3.095		1.7		3.1		10.7
016010	1791-03-28		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002980	1791-09-28		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012290	1791-09-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011660	1791-15-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016090	DM PUD INJ 1		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.9
016100	DM PUD INJ 2		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		1.3
016110	DM PUD INJ 3		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016120	DM PUD INJ 4		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016130	DM PUD INJ 5		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
019620	ABAN DM PUD G		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		11.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019750	FE ATL RIM OP PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		221.9		-221.9		-81.0
023060	PLANT EXPENSE PUD		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		221.9		-221.9		-81.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
015590	1790-03-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015610	1790-05-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015510	1790-13-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015600	1790-05-17		0.0		0.0		799.0		0.0		0.0		519.6		0.0		0.0		1,561.8		208.7		544.4		0.0		336.2		472.5		51.5
015450	1790-01-18		0.0		0.0		761.9		0.0		0.0		495.5		0.0		0.0		1,503.5		201.2		544.4		0.0		317.1		440.8		41.3
015690	1790-09-18		0.0		0.0		794.7		0.0		0.0		516.8		0.0		0.0		1,555.3		208.0		544.4		0.0		333.9		469.0		50.4
015001	1790-13-18		0.0		0.0		799.0		0.0		0.0		519.6		0.0		0.0		1,561.8		208.7		544.4		0.0		336.2		472.5		51.5
015460	1790-01-19		0.0		0.0		751.8		0.0		0.0		488.9		0.0		0.0		1,483.2		198.2		544.4		0.0		314.9		425.7		33.3
011810	1790-05-19		0.0		0.0		796.4		0.0		0.0		517.9		0.0		0.0		1,552.7		207.5		544.4		0.0		338.5		462.3		44.7
015640	1790-07-19		0.0		0.0		796.4		0.0		0.0		517.9		0.0		0.0		1,552.7		207.5		544.4		0.0		338.5		462.3		44.7
011830	1790-13-19		0.0		0.0		792.4		0.0		0.0		515.3		0.0		0.0		1,547.0		206.7		544.4		0.0		336.3		459.6		43.8
015900	1791-09-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015780	1791-15-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015730	1791-01-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015870	1791-07-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015890	1791-09-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015770	1791-15-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015850	1791-05-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015750	1791-11-12		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015820	1791-03-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011630	1791-09-20		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011730	1791-01-25		0.0		0.0		979.6		0.0		0.0		637.1		0.0		0.0		1,906.6		255.0		544.4		0.0		380.9		726.3		189.4
000970	1791-04-25		0.0		0.0		979.6		0.0		0.0		637.1		0.0		0.0		1,906.6		255.0		544.4		0.0		380.9		726.3		189.4
011760	1791-09-25		0.0		0.0		974.9		0.0		0.0		634.0		0.0		0.0		1,899.7		253.9		544.4		0.0		378.5		722.9		187.6
012360	1791-16-25		0.0		0.0		974.9		0.0		0.0		634.0		0.0		0.0		1,899.7		253.9		544.4		0.0		378.5		722.9		187.6
016010	1791-03-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002980	1791-09-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012290	1791-09-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011660	1791-15-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016090	DM PUD INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		692.1		0.0		0.0		-692.1		-641.8
016100	DM PUD INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		692.1		0.0		0.0		-692.1		-621.8
016110	DM PUD INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016120	DM PUD INJ 4		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016130	DM PUD INJ 5		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019620	ABAN DM PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		555.3		0.0		-555.3		702.8

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
	FIELD TOTAL		0		12		0.0		10,200.6
GRACE POINT UNIT FIELD, CARBON COUNTY
012610	1691-10-28		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015970	1691-12-28		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012420	1691-15-28		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012390	1691-10-29		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012650	1691-13-32		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012330	1691-03-33		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012350	1691-05-33		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012370	1691-07-33		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012300	1691-15-33		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016280	GP PUD INJ 1		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021320	ABAN GP PUD G		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		11.8
	FIELD TOTAL		0		0		0.0		0.0
SUN DOG UNIT FIELD, CARBON COUNTY
002790	1691-02-02		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
001990	1691-10-02		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002800	1691-14-02		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014390	1691-A-03		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015950	1691-B-03		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015940	1691-A-04		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015960	1691-B-05		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012340	1691-14-09		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003080	1691-08-10		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003380	1691-10-10		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002210	1691-14-10		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
003070	1691-04-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002820	1691-12-14		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002840	1691-02-15		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002200	1691-06-15		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002830	1691-08-15		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002180	1691-14-19		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002170	1691-16-21		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002850	1691-02-22		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002160	1691-04-22		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002120	1691-12-22		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002880	1691-02-28		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002150	1691-06-28		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002900	1791-16-35		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012320	1791-02-36		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT. AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE							TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$			GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY (CONTINUED)
	FIELD TOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.0		0.0			19,930.6		2,664.3		7,917.0		555.3		4,170.4		4,623.6		554.4
GRACE POINT UNIT FIELD, CARBON COUNTY
012610	1691-10-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
015970	1691-12-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012420	1691-15-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012390	1691-10-29		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012650	1691-13-32		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012330	1691-03-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012350	1691-05-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0	��		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012370	1691-07-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012300	1691-15-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
016280	GP PUD INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
021320	ABAN GP PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		802.6
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		802.6
SUN DOG UNIT FIELD, CARBON COUNTY
002790	1691-02-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
001990	1691-10-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002800	1691-14-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
014390	1691-A-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
015950	1691-B-03		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
015940	1691-A-04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
015960	1691-B-05		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012340	1691-14-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
003080	1691-08-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
003380	1691-10-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002210	1691-14-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
003070	1691-04-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002820	1691-12-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002840	1691-02-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002200	1691-06-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002830	1691-08-15		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002180	1691-14-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002170	1691-16-21		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002850	1691-02-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002160	1691-04-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002120	1691-12-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002880	1691-02-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002150	1691-06-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
002900	1791-16-35		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0
012320	1791-02-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0			0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M
						OIL MBBL		GAS MMCF																										LIFE YRS
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
000920	1791-07-36		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
000880	1791-11-36		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002960	1791-13-36		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016300	SD PUD INJ 1		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016310	SD PUD INJ 2		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016320	SD PUD INJ 3		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016330	SD PUD INJ 4		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002320	SD PUD INJ 5		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021370	ABAN SD PUD G		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		11.8
	FIELD TOTAL		0		0		0.0		0.0
	PROSPECT TOTAL		0		12		0.0		10,200.6
	TOTAL WYOMING		0		12		0.0		10,200.6
	TOTAL ALL LEASES		0		12		0.0		10,200.6

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED UNDEVELOPED RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
		OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
000920	1791-07-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
000880	1791-11-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002960	1791-13-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016300	SD PUD INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016310	SD PUD INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016320	SD PUD INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016330	SD PUD INJ 4		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002320	SD PUD INJ 5		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021370	ABAN SD PUD G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		715.3
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		715.3
	PROSPECT TOTAL		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.0		0.0		19,930.6		2,664.3		7,917.0		555.3		4,392.3		4,401.7		1,991.3
	TOTAL WYOMING		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.0		0.0		19,930.6		2,664.3		7,917.0		555.3		4,392.3		4,401.7		1,991.3
	TOTAL ALL LEASES		0.0		0.0		10,200.6		0.0		0.0		6,633.9		0.0		0.0		19,930.6		2,664.3		7,917.0		555.3		4,392.3		4,401.7		1,991.3

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

PERIOD ENDING M-D-Y

GROSS RESERVES

NET RESERVES

AVERAGE PRICES

GROSS REVENUE

OIL MBBL

NGL MBBL

GAS MMCF

OIL MBBL

NGL MBBL

GAS MMCF

OIL $/BBL

NGL $/BBL

GAS $/MCF

OIL M$

NGL M$

GAS M$

TOTAL M$

NO    ECONOMIC    RESERVES

NET DEDUCTIONS/EXPENDITURES

FUTURE NET REVENUE

PRESENT WORTH PROFILE

PERIOD ENDING M-D-Y

NUMBER OF ACTIVE COMPLETIONS

TAXES

CAPITAL COST M$

ABDNMNT COST M$

OPERATING EXPENSE M$

UNDISCOUNTED

DISC AT 10.000%

GROSS

NET

PRODUCTION M$

AD VALOREM M$

PERIOD M$

CUM M$

CUM M$

DISC RATE %

CUM PW M$

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M
LEASE NUMBER						OIL MBBL		GAS MMCF																										LIFE YRS
	LEASE NAME	OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019760	FE ATL RIM OP PRB		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523060	PLANT EXPENSE PRB		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
015420	1790-11-06		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015680	1790-07-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015440	1790-11-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015540	1790-15-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015580	1790-03-17		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015410	1790-11-17		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015480	1790-13-17		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015700	1790-09-19		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011820	1790-11-19		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011840	1790-03-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011850	1790-05-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011860	1790-11-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015490	1790-13-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015810	1791-03-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015840	1791-05-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015740	1791-11-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015760	1791-13-10		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
561920	1791-11-13 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559710	1791-03-14 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559750	1791-07-14 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559690	1791-01-15 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
561930	1791-11-15 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
561950	1791-13-15 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011640	1791-15-20		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559720	1791-03-21 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559760	1791-07-26 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559770	1791-07-28 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559780	1791-07-29 FRC IPB		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016140	DM PRB INJ 1		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016150	DM PRB INJ 2		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016160	DM PRB INJ 3		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
020980	ABAN DM PRB G		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
GRACE POINT UNIT FIELD, CARBON COUNTY
559640	1691-15-29 FRC IPB		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012660	1691-01-33		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
019760	FE ATL RIM OP PRB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523060	PLANT EXPENSE PRB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
015420	1790-11-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015680	1790-07-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015440	1790-11-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015540	1790-15-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015580	1790-03-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015410	1790-11-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015480	1790-13-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015700	1790-09-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011820	1790-11-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011840	1790-03-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011850	1790-05-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011860	1790-11-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015490	1790-13-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015810	1791-03-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015840	1791-05-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015740	1791-11-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015760	1791-13-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
561920	1791-11-13 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559710	1791-03-14 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559750	1791-07-14 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559690	1791-01-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
561930	1791-11-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
561950	1791-13-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011640	1791-15-20		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559720	1791-03-21 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559760	1791-07-26 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559770	1791-07-28 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559780	1791-07-29 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016140	DM PRB INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016150	DM PRB INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016160	DM PRB INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
020980	ABAN DM PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
GRACE POINT UNIT FIELD, CARBON COUNTY
559640	1691-15-29 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012660	1691-01-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M
LEASE NUMBER						OIL MBBL		GAS MMCF																										LIFE YRS
	LEASE NAME	OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
012570	1691-09-33		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021360	ABAN GP PRB G		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
SUN DOG UNIT FIELD, CARBON COUNTY
573130	1691-04-02 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559900	1691-06-02 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012670	1691-08-02		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560030	1691-12-02 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012580	1691-16-02		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012400	1691-B-02		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
509810	1691-02-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559850	1691-04-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559910	1691-06-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573140	1691-08-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559990	1691-10-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560040	1691-12-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573150	1691-14-03 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523160	1691-02-04 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559860	1691-04-04 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559920	1691-06-04 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573170	1691-10-04 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560050	1691-12-04 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560100	1691-14-04 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
509820	1691-02-05 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559870	1691-04-05 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573180	1691-06-05 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559960	1691-08-05 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560060	1691-12-05 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523210	1691-16-05 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523280	1691-02-09 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523290	1691-04-09 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573300	1691-06-09 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559970	1691-08-09 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573310	1691-10-09 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573320	1691-12-09 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559930	1691-06-10 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012480	1691-16-10		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012510	1691-02-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012630	1691-12-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012600	1691-16-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
012570	1691-09-33		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021360	ABAN GP PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
SUN DOG UNIT FIELD, CARBON COUNTY
573130	1691-04-02 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559900	1691-06-02 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012670	1691-08-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560030	1691-12-02 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012580	1691-16-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012400	1691-B-02		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
509810	1691-02-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559850	1691-04-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559910	1691-06-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573140	1691-08-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559990	1691-10-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560040	1691-12-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573150	1691-14-03 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523160	1691-02-04 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559860	1691-04-04 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559920	1691-06-04 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573170	1691-10-04 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560050	1691-12-04 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560100	1691-14-04 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
509820	1691-02-05 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559870	1691-04-05 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573180	1691-06-05 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559960	1691-08-05 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560060	1691-12-05 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523210	1691-16-05 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523280	1691-02-09 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523290	1691-04-09 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573300	1691-06-09 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559970	1691-08-09 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573310	1691-10-09 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573320	1691-12-09 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559930	1691-06-10 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012480	1691-16-10		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012510	1691-02-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012630	1691-12-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012600	1691-16-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M
LEASE NUMBER						OIL MBBL		GAS MMCF																										LIFE YRS
	LEASE NAME	OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
002130	1691-04-14		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013250	1691-14-14		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573340	1691-04-15 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560000	1691-10-15 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560070	1691-12-15 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560110	1691-14-15 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560160	1691-16-15 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523350	1691-02-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523360	1691-04-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573370	1691-06-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573380	1691-08-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
523390	1691-10-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573400	1691-12-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573410	1691-14-16 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560080	1691-12-17 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573470	1691-14-17 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
510120	1691-14-18 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560170	1691-16-18 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
509830	1691-02-19 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
563090	1691-04-19 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559980	1691-08-19 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560010	1691-10-19 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
563110	1691-12-19 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560180	1691-16-19 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573490	1691-04-20 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560130	1691-14-20 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573500	1691-16-20 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559880	1691-04-21 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559940	1691-06-21 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560020	1691-10-21 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573530	1691-12-21 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560140	1691-14-21 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002870	1691-08-22		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012620	1691-14-22		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002140	1691-04-23		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012430	1691-04-27		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002920	1691-08-28		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559840	1691-02-29 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
559950	1691-06-29 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
573550	1691-08-29 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012460	1790-04-31		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
002130	1691-04-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013250	1691-14-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573340	1691-04-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560000	1691-10-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560070	1691-12-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560110	1691-14-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560160	1691-16-15 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523350	1691-02-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523360	1691-04-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573370	1691-06-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573380	1691-08-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
523390	1691-10-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573400	1691-12-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573410	1691-14-16 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560080	1691-12-17 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573470	1691-14-17 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
510120	1691-14-18 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560170	1691-16-18 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
509830	1691-02-19 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
563090	1691-04-19 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559980	1691-08-19 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560010	1691-10-19 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
563110	1691-12-19 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560180	1691-16-19 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573490	1691-04-20 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560130	1691-14-20 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573500	1691-16-20 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559880	1691-04-21 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559940	1691-06-21 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560020	1691-10-21 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573530	1691-12-21 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560140	1691-14-21 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002870	1691-08-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012620	1691-14-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002140	1691-04-23		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012430	1691-04-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002920	1691-08-28		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559840	1691-02-29 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
559950	1691-06-29 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
573550	1691-08-29 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012460	1790-04-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M
						OIL MBBL		GAS MMCF																										LIFE YRS
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
560200	1791-12-35 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
560190	1791-04-36 FRC IPB		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012640	1791-09-36		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012410	1791-15-36		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002330	SD PRB INJ 1		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
011890	SD PRB INJ 2		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
002470	SD PRB INJ 3		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021330	ABAN SD PRB G		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL WYOMING		0		0		0.0		0.0
	TOTAL ALL LEASES		0		0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROBABLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
560200	1791-12-35 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
560190	1791-04-36 FRC IPB		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012640	1791-09-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012410	1791-15-36		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002330	SD PRB INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011890	SD PRB INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
002470	SD PRB INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021330	ABAN SD PRB G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL WYOMING		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL ALL LEASES		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

PERIOD ENDING M-D-Y

GROSS RESERVES

NET RESERVES

AVERAGE PRICES

GROSS REVENUE

OIL MBBL

NGL MBBL

GAS MMCF

OIL MBBL

NGL MBBL

GAS MMCF

OIL $/BBL

NGL $/BBL

GAS $/MCF

OIL M$

NGL M$

GAS M$

TOTAL M$

NO    ECONOMIC    RESERVES

NET DEDUCTIONS/EXPENDITURES

FUTURE NET REVENUE

PRESENT WORTH PROFILE

PERIOD ENDING M-D-Y

NUMBER OF ACTIVE COMPLETIONS

TAXES

CAPITAL COST M$

ABDNMNT COST M$

OPERATING EXPENSE M$

UNDISCOUNTED

DISC AT 10.000%

PRODUCTION M$

AD VALOREM M$

PERIOD M$

CUM M$

CUM M$

DISC RATE %

CUM PW M$

GROSS

NET

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
719760	FE ATL RIM OP POS		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723060	PLANT EXPENSE POS		0		0		0.0		0.0		76.022		76.022		76.022		76.022		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
015550	1790-01-06		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015670	1790-07-06		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015560	1790-01-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015720	1790-09-08		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015430	1790-01-17		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015630	1790-07-17		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015520	1790-15-17		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015530	1790-15-19		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015470	1790-01-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015650	1790-07-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015710	1790-09-30		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015800	1791-01-09		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015880	1791-07-09		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015910	1791-09-09		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
015790	1791-15-09		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
761920	1791-11-13 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759710	1791-03-14 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759750	1791-07-14 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759690	1791-01-15 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
761930	1791-11-15 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
761950	1791-13-15 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759720	1791-03-21 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759760	1791-07-26 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759770	1791-07-28 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759780	1791-07-29 FRC IPS		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016170	DM POS INJ 1		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016180	DM POS INJ 2		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
016190	DM POS INJ 3		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
021350	ABAN DM POS G		0		0		0.0		0.0		79.327		79.327		65.034		65.034		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
GRACE POINT UNIT FIELD, CARBON COUNTY
759640	1691-15-29 FRC IPS		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013300	1691-03-34		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013320	1691-05-34		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012030	1691-11-34		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013230	1691-13-34		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
		OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING
ATLANTIC RIM PROSPECT, CARBON COUNTY
ATL RIM OP FIELD, CARBON COUNTY
719760	FE ATL RIM OP POS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723060	PLANT EXPENSE POS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
DOTY MOUNTAIN UNIT FIELD, CARBON COUNTY
015550	1790-01-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015670	1790-07-06		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015560	1790-01-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015720	1790-09-08		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015430	1790-01-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015630	1790-07-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015520	1790-15-17		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015530	1790-15-19		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015470	1790-01-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015650	1790-07-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015710	1790-09-30		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015800	1791-01-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015880	1791-07-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015910	1791-09-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015790	1791-15-09		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
761920	1791-11-13 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759710	1791-03-14 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759750	1791-07-14 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759690	1791-01-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
761930	1791-11-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
761950	1791-13-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759720	1791-03-21 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759760	1791-07-26 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759770	1791-07-28 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759780	1791-07-29 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016170	DM POS INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016180	DM POS INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016190	DM POS INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
021350	ABAN DM POS G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
GRACE POINT UNIT FIELD, CARBON COUNTY
759640	1691-15-29 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013300	1691-03-34		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013320	1691-05-34		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012030	1691-11-34		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013230	1691-13-34		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
016290	GP POS INJ 1		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
019710	ABAN GP POS G		0		0		0.0		0.0		81.059		81.059		68.663		68.663		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
SUN DOG UNIT FIELD, CARBON COUNTY
013310	1691-04-01		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013330	1691-06-01		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013210	1691-12-01		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013240	1691-14-01		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773130	1691-04-02 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759900	1691-06-02 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760030	1691-12-02 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
709810	1691-02-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759850	1691-04-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759910	1691-06-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773140	1691-08-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759990	1691-10-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
700020	1691-12-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773150	1691-14-03 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723160	1691-02-04 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759860	1691-04-04 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759920	1691-06-04 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773170	1691-10-04 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
700030	1691-12-04 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760100	1691-14-04 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
709820	1691-02-05 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759870	1691-04-05 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773180	1691-06-05 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759960	1691-08-05 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760060	1691-12-05 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723210	1691-16-05 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723280	1691-02-09 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723290	1691-04-09 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773300	1691-06-09 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759970	1691-08-09 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773310	1691-10-09 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773320	1691-12-09 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759930	1691-06-10 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013810	1691-08-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012520	1691-10-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
014290	1691-13-11		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$		TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
GRACE POINT UNIT FIELD, CARBON COUNTY (CONTINUED)
016290	GP POS INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019710	ABAN GP POS G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
SUN DOG UNIT FIELD, CARBON COUNTY
013310	1691-04-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013330	1691-06-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013210	1691-12-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013240	1691-14-01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773130	1691-04-02 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759900	1691-06-02 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760030	1691-12-02 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
709810	1691-02-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759850	1691-04-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759910	1691-06-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773140	1691-08-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759990	1691-10-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
700020	1691-12-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773150	1691-14-03 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723160	1691-02-04 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759860	1691-04-04 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759920	1691-06-04 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773170	1691-10-04 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
700030	1691-12-04 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760100	1691-14-04 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
709820	1691-02-05 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759870	1691-04-05 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773180	1691-06-05 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759960	1691-08-05 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760060	1691-12-05 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723210	1691-16-05 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723280	1691-02-09 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723290	1691-04-09 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773300	1691-06-09 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759970	1691-08-09 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773310	1691-10-09 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773320	1691-12-09 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759930	1691-06-10 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013810	1691-08-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012520	1691-10-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
014290	1691-13-11		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
013280	1691-02-14		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013340	1691-06-14		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012020	1691-10-14		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773340	1691-04-15 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760000	1691-10-15 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
700040	1691-12-15 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760110	1691-14-15 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760160	1691-16-15 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723350	1691-02-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723360	1691-04-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773370	1691-06-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773380	1691-08-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
723390	1691-10-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773400	1691-12-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773410	1691-14-16 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760080	1691-12-17 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773470	1691-14-17 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
710120	1691-14-18 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760170	1691-16-18 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
709830	1691-02-19 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
763090	1691-04-19 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759980	1691-08-19 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760010	1691-10-19 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
763110	1691-12-19 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760180	1691-16-19 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773490	1691-04-20 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760130	1691-14-20 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773500	1691-16-20 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759880	1691-04-21 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759940	1691-06-21 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760020	1691-10-21 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773530	1691-12-21 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
760140	1691-14-21 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013270	1691-16-22		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013290	1691-02-23		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013220	1691-12-23		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
013790	1691-06-27		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
012500	1691-12-27		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759840	1691-02-29 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
759950	1691-06-29 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0
773550	1691-08-29 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
		OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
013280	1691-02-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013340	1691-06-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012020	1691-10-14		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773340	1691-04-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760000	1691-10-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
700040	1691-12-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760110	1691-14-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760160	1691-16-15 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723350	1691-02-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723360	1691-04-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773370	1691-06-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773380	1691-08-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
723390	1691-10-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773400	1691-12-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773410	1691-14-16 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760080	1691-12-17 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773470	1691-14-17 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
710120	1691-14-18 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760170	1691-16-18 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
709830	1691-02-19 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
763090	1691-04-19 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759980	1691-08-19 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760010	1691-10-19 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
763110	1691-12-19 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760180	1691-16-19 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773490	1691-04-20 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760130	1691-14-20 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773500	1691-16-20 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759880	1691-04-21 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759940	1691-06-21 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760020	1691-10-21 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773530	1691-12-21 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760140	1691-14-21 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013270	1691-16-22		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013290	1691-02-23		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013220	1691-12-23		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
013790	1691-06-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
012500	1691-12-27		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759840	1691-02-29 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
759950	1691-06-29 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
773550	1691-08-29 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF					GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END			START		END
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
015570	1790-02-31		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
015620	1790-06-31		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
015400	1790-11-31		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
015500	1790-13-31		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000	��		0.0		0.0		0.0
760200	1791-12-35 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
760190	1791-04-36 FRC IPS		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
003090	SD POS INJ 1		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
016340	SD POS INJ 2		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
011610	SD POS INJ 3		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
019670	ABAN SD POS G		0		0		0.0		0.0		69.324		69.324		56.966		56.966		0.000		0.000		0.000		0.000		0.000		0.000			0.0		0.0		0.0
	FIELD TOTAL		0		0		0.0		0.0
	PROSPECT TOTAL		0		0		0.0		0.0
	TOTAL WYOMING		0		0		0.0		0.0
	TOTAL ALL LEASES		0		0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   POSSIBLE RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES DOTY MOUNTAIN UNIT, GRACE POINT UNIT, AND SUN DOG UNIT FIELDS, CARBON COUNTY, WYOMING

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
WYOMING (CONTINUED)
ATLANTIC RIM PROSPECT, CARBON COUNTY (CONTINUED)
SUN DOG UNIT FIELD, CARBON COUNTY (CONTINUED)
015570	1790-02-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015620	1790-06-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015400	1790-11-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
015500	1790-13-31		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760200	1791-12-35 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
760190	1791-04-36 FRC IPS		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
003090	SD POS INJ 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
016340	SD POS INJ 2		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
011610	SD POS INJ 3		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
019670	ABAN SD POS G		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	PROSPECT TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL WYOMING		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0
	TOTAL ALL LEASES		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   SUMMARY PROJECTION OF RESERVES AND REVENUE AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES NEW MEXICO AND TEXAS

PERIOD ENDING M-D-Y	GROSS RESERVES						NET RESERVES						AVERAGE PRICES						GROSS REVENUE
	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL $/BBL		NGL $/BBL		GAS $/MCF		OIL M$		NGL M$		GAS M$		TOTAL M$
12-31-2016		0.3		0.0		582.9		0.1		0.0		123.1		40.383		0.000		1.198		2.9		0.0		147.4		150.3
12-31-2017		0.6		0.0		1,177.4		0.1		0.0		248.1		41.956		0.000		1.364		5.9		0.0		338.4		344.3
12-31-2018		0.5		0.0		899.4		0.1		0.0		189.6		43.467		0.000		1.384		4.5		0.0		262.3		266.8
12-31-2019		0.4		0.0		642.3		0.1		0.0		136.9		44.851		0.000		1.404		3.5		0.0		192.1		195.6
12-31-2020		0.3		0.0		514.3		0.1		0.0		109.4		46.002		0.000		1.451		2.7		0.0		158.7		161.4
12-31-2021		0.2		0.0		417.5		0.0		0.0		88.5		46.865		0.000		1.518		2.1		0.0		134.3		136.4
12-31-2022		0.2		0.0		334.7		0.0		0.0		70.9		47.674		0.000		1.589		1.7		0.0		112.8		114.5
12-31-2023		0.1		0.0		248.0		0.0		0.0		52.5		47.674		0.000		1.576		1.1		0.0		82.7		83.8
12-31-2024		0.1		0.0		171.0		0.0		0.0		35.9		47.674		0.000		1.585		0.6		0.0		56.9		57.5
12-31-2025		0.0		0.0		101.7		0.0		0.0		21.4		47.674		0.000		1.571		0.4		0.0		33.5		33.9
12-31-2026		0.0		0.0		64.9		0.0		0.0		13.9		47.674		0.000		1.532		0.2		0.0		21.3		21.5
12-31-2027		0.0		0.0		22.4		0.0		0.0		4.9		47.674		0.000		1.484		0.1		0.0		7.3		7.4
05-31-2028		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
SUBTOTAL		2.7		0.0		5,176.4		0.6		0.0		1,095.0		44.007		0.000		1.413		25.7		0.0		1,547.7		1,573.4
REMAINING		0.0		0.0		0.0		0.0		0.0		0.0		0.000		0.000		0.000		0.0		0.0		0.0		0.0
TOTAL		2.7		0.0		5,176.4		0.6		0.0		1,095.0		44.007		0.000		1.413		25.7		0.0		1,547.7		1,573.4
CUM PROD		23.5				30,483.6
ULTIMATE		26.2				35,660.0

PERIOD ENDING M-D-Y	NUMBER OF ACTIVE COMPLETIONS				NET DEDUCTIONS/EXPENDITURES										FUTURE NET REVENUE
					TAXES				CAPITAL COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		UNDISCOUNTED				DISC AT 10.000%		PRESENT WORTH PROFILE
					PRODUCTION M$		AD VALOREM M$								PERIOD M$		CUM M$		CUM M$		DISC RATE %		CUM PW M$
	GROSS		NET
12-31-2016		10		2.5		12.0		3.3		0.0		0.0		52.9		82.1		82.1		81.0		8.000		354.7
12-31-2017		10		2.5		27.1		7.2		0.0		113.7		120.5		75.8		157.9		151.6		12.000		339.9
12-31-2018		10		2.5		20.9		5.7		0.0		0.0		106.3		133.9		291.8		263.5		15.000		328.0
12-31-2019		8		2.0		15.3		4.1		0.0		38.1		81.9		56.2		348.0		306.3		20.000		310.5
12-31-2020		7		1.8		12.6		3.5		0.0		19.0		78.0		48.3		396.3		339.2		25.000		293.4
12-31-2021		7		1.8		10.7		3.1		0.0		0.0		75.0		47.6		443.9		369.3		30.000		277.3
12-31-2022		7		1.8		8.8		2.6		0.0		0.0		70.1		33.0		476.9		388.0		35.000		264.0
12-31-2023		6		1.5		6.5		1.9		0.0		19.3		58.1		-2.0		474.9		386.9		40.000		251.5
12-31-2024		4		1.0		4.4		1.2		0.0		40.1		42.9		-31.1		443.8		372.3		45.000		239.8
12-31-2025		4		1.0		2.7		0.7		0.0		0.0		26.9		3.6		447.4		373.9		50.000		229.2
12-31-2026		2		0.5		1.7		0.4		0.0		37.6		17.9		-36.1		411.3		359.5
12-31-2027		1		0.3		0.6		0.1		0.0		17.9		6.5		-17.7		393.6		353.2
05-31-2028		0		0.0		0.0		0.0		0.0		18.8		0.0		-18.8		374.8		347.1
SUBTOTAL						123.3		33.8		0.0		304.5		737.0		374.8		374.8		347.1
REMAINING						0.0		0.0		0.0		0.0		0.0		0.0		374.8		347.1
TOTAL OF 10.8 YRS						123.3		33.8		0.0		304.5		737.0		374.8		374.8		347.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   BASIC DATA AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES   RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES NEW MEXICO AND TEXAS  

LEASE NUMBER	LEASE NAME	ACTIVE COMPLTNS				GROSS ULTIMATE				WORKING INTEREST				REVENUE INTEREST				OIL $/BBL				NGL $/BBL				GAS $/MCF				GROSS OPERATING EXPENSE M$/M				LIFE YRS
						OIL MBBL		GAS MMCF
		OIL		GAS						START		END		START		END		START		END		START		END		START		END		START		END
NEW MEXICO
PECOS SLOPE PROSPECT, CHAVES COUNTY
FOOR RANCH FIELD, CHAVES COUNTY
002290	EUREKA UK ST 2		0		1		2.9		4,810.2		25.000		25.000		21.875		21.875		40.383		47.674		0.000		0.000		1.141		1.484		7.2		5.2		8.7
000050	KIRBY BCK FED 1		0		1		2.9		4,800.3		25.000		25.000		21.875		21.875		40.383		47.674		0.000		0.000		1.141		1.484		6.0		5.2		10.8
001160	KIRBY BCK FED 2		0		1		13.8		8,593.9		25.000		25.000		21.875		21.875		40.383		47.674		0.000		0.000		1.141		1.484		10.1		5.2		7.2
000040	ORECK BDO 1 SI		0		0		0.0		562.7		25.000		25.000		20.335		20.335		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.1
001180	ROOMBA BKM 1		0		1		4.4		4,074.2		25.000		25.000		18.313		18.313		0.000		0.000		0.000		0.000		1.141		1.310		5.8		5.4		2.3
	FIELD TOTAL		0		4		24.0		22,841.3
PECOS SLOPE FIELD, CHAVES COUNTY
000060	ELECTROLX BCE ST 1		0		0		0.0		190.1		25.000		25.000		20.313		20.313		0.000		0.000		0.000		0.000		0.000		0.000		4.8		0.0		0.0
	FIELD TOTAL		0		0		0.0		190.1
	PROSPECT TOTAL		0		4		24.0		23,031.4
	TOTAL NEW MEXICO		0		4		24.0		23,031.4
TEXAS
WHITE, HE PROSPECT, FREESTONE COUNTY
DEW FIELD, FREESTONE COUNTY
003650	WHITE, HE 06 SI		0		0		1.3		444.2		25.687		25.687		18.945		18.945		0.000		0.000		0.000		0.000		0.000		0.000		0.0		0.0		0.1
	FIELD TOTAL		0		0		1.3		444.2
TEAGUE FIELD, FREESTONE COUNTY
003660	WHITE, HE 01		0		0		0.1		1,176.3		26.184		26.184		18.490		18.490		0.000		0.000		0.000		0.000		0.000		0.000		1.5		0.0		0.0
003610	WHITE, HE 02		0		1		0.0		2,591.2		25.000		25.000		18.430		18.430		0.000		0.000		0.000		0.000		1.555		2.022		2.3		1.8		8.5
003620	WHITE, HE 03		0		1		0.1		2,062.9		23.890		23.890		17.794		17.794		0.000		0.000		0.000		0.000		1.555		2.022		2.3		1.8		9.8
003630	WHITE, HE 04		0		0		0.1		530.5		23.910		23.910		18.069		18.069		0.000		0.000		0.000		0.000		0.000		0.000		1.5		0.0		0.0
003640	WHITE, HE 05		0		1		0.2		1,317.8		25.297		25.297		18.950		18.950		0.000		0.000		0.000		0.000		1.555		1.806		2.0		1.9		2.5
000230	WHITE, HE 09		0		1		0.0		1,375.6		25.675		25.675		19.245		19.245		0.000		0.000		0.000		0.000		1.555		2.022		2.3		1.8		5.9
000210	WHITE, HE 10		0		1		0.1		1,098.3		25.675		25.675		19.245		19.245		0.000		0.000		0.000		0.000		1.555		1.786		2.0		1.9		1.6
000220	WHITE, HE 11		0		1		0.1		1,547.8		28.382		28.382		21.344		21.344		0.000		0.000		0.000		0.000		1.555		2.022		2.3		1.8		6.8
001170	WHITE, HE 13		0		0		0.1		484.0		25.687		25.687		18.510		18.510		0.000		0.000		0.000		0.000		0.000		0.000		1.5		0.0		0.0
	FIELD TOTAL		0		6		0.8		12,184.3
	PROSPECT TOTAL		0		6		2.1		12,628.5
	TOTAL TEXAS		0		6		2.1		12,628.5
	TOTAL ALL LEASES		0		10		26.2		35,660.0

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS

WARREN RESOURCES, INC. INTEREST   RESERVES AND ECONOMICS AS OF JULY 31, 2016   PROVED DEVELOPED PRODUCING RESERVES   RUN DATE: 05-02-2016 03:30 PM SUMMARY - CERTAIN PROPERTIES NEW MEXICO AND TEXAS  

		GROSS RESERVES						NET RESERVES						GROSS REVENUE						TOTAL TAXES M$		NET CAP COST M$		ABDNMNT COST M$		OPERATING EXPENSE M$		NET REVENUE M$		CUM P.W. 10.000% M$
LEASE NUMBER	LEASE NAME	OIL MBBL		NGL MBBL		GAS MMCF		OIL MBBL		NGL MBBL		GAS MMCF		OIL M$		NGL M$		GAS M$
NEW MEXICO
PECOS SLOPE PROSPECT, CHAVES COUNTY
FOOR RANCH FIELD, CHAVES COUNTY
002290	EUREKA UK ST 2		0.5		0.0		1,245.9		0.1		0.0		272.5		5.0		0.0		366.2		36.5		0.0		18.8		155.4		160.5		134.6
000050	KIRBY BCK FED 1		0.4		0.0		1,029.5		0.1		0.0		225.2		4.1		0.0		310.4		30.5		0.0		18.8		179.8		85.4		69.8
001160	KIRBY BCK FED 2		1.7		0.0		1,739.9		0.4		0.0		380.6		16.6		0.0		497.7		50.3		0.0		18.8		144.7		300.5		260.2
000040	ORECK BDO 1 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		18.8		0.0		-18.8		-17.0
001180	ROOMBA BKM 1		0.0		0.0		222.3		0.0		0.0		40.7		0.0		0.0		51.5		5.1		0.0		18.8		37.6		-10.0		-5.6
	FIELD TOTAL		2.7		0.0		4,237.7		0.6		0.0		919.1		25.7		0.0		1,225.8		122.4		0.0		94.0		517.5		517.6		442.0
PECOS SLOPE FIELD, CHAVES COUNTY
000060	ELECTROLX BCE ST 1		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		18.8		0.0		-18.8		-17.1
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		18.8		0.0		-18.8		-17.1
	PROSPECT TOTAL		2.7		0.0		4,237.7		0.6		0.0		919.1		25.7		0.0		1,225.8		122.4		0.0		112.8		517.5		498.8		424.9
	TOTAL NEW MEXICO		2.7		0.0		4,237.7		0.6		0.0		919.1		25.7		0.0		1,225.8		122.4		0.0		112.8		517.5		498.8		424.9
TEXAS
WHITE, HE PROSPECT, FREESTONE COUNTY
DEW FIELD, FREESTONE COUNTY
003650	WHITE, HE 06 SI		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		19.3		0.0		-19.3		-17.4
	FIELD TOTAL		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		19.3		0.0		-19.3		-17.4
TEAGUE FIELD, FREESTONE COUNTY
003660	WHITE, HE 01		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		19.6		0.0		-19.6		-17.9
003610	WHITE, HE 02		0.0		0.0		231.4		0.0		0.0		42.0		0.0		0.0		77.8		8.3		0.0		18.8		52.3		-1.6		5.9
003620	WHITE, HE 03		0.0		0.0		270.2		0.0		0.0		47.4		0.0		0.0		88.7		9.7		0.0		17.9		58.0		3.1		9.6
003630	WHITE, HE 04		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		17.9		0.0		-17.9		-16.4
003640	WHITE, HE 05		0.0		0.0		57.0		0.0		0.0		10.6		0.0		0.0		18.3		1.9		0.0		19.0		14.8		-17.4		-12.2
000230	WHITE, HE 09		0.0		0.0		157.4		0.0		0.0		29.8		0.0		0.0		53.7		5.9		0.0		19.3		37.1		-8.6		-0.8
000210	WHITE, HE 10		0.0		0.0		34.3		0.0		0.0		6.5		0.0		0.0		11.1		1.1		0.0		19.3		9.5		-18.8		-14.6
000220	WHITE, HE 11		0.0		0.0		188.4		0.0		0.0		39.6		0.0		0.0		72.3		7.8		0.0		21.3		47.8		-4.6		3.6
001170	WHITE, HE 13		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		0.0		19.3		0.0		-19.3		-17.6
	FIELD TOTAL		0.0		0.0		938.7		0.0		0.0		176.0		0.0		0.0		321.9		34.7		0.0		172.4		219.5		-104.7		-60.4
	PROSPECT TOTAL		0.0		0.0		938.7		0.0		0.0		176.0		0.0		0.0		321.9		34.7		0.0		191.7		219.5		-124.0		-77.8
	TOTAL TEXAS		0.0		0.0		938.7		0.0		0.0		176.0		0.0		0.0		321.9		34.7		0.0		191.7		219.5		-124.0		-77.8
	TOTAL ALL LEASES		2.7		0.0		5,176.4		0.6		0.0		1,095.0		25.7		0.0		1,547.7		157.1		0.0		304.5		737.0		374.8		347.1

PRELIMINARY RUN - FOR REVIEW ONLY BASED ON GSO BASE PRICE AND COST PARAMETERS