2. SYNERGY OIL & GAS, INC. OVERVIEW  Founded in 1993 with $50,000 and donated salaries  Original Strategy Acquisition and Exploitation Focus in Areas of Expertise – Gulf Coast and West Texas Maintain Operator Position Flat Organization Structure with Shared Ownership  Revision in Strategy Create Attractive Portfolio for Liquidity Event Increase Exploitation Exposure Hedge Production to Match Acquisition Economics  Raised Equity from Natural Gas Partners in July 1998  Sold to Penn Virginia for $112MM in July 2001

5. SYNERGY OIL & GAS, LP ROUND II  Partners Eric R. Pitcher Duane H. King Jim Unverferth Jon Robin  Strategy Acquire and Exploit Gulf Coast Texas and Louisiana Exploration – Prefer Early Stage Operations – Preferred Company Acquisition where Assets Fit Expertise Hedge to Match Debt Exposure Flat Organization Structure with Shared Ownership  Financing Significant Personal Equity Backing Company Support of Institutional Equity  Clean Slate Looking for Opportunities that fit skill set. $1MM to $100MM+