Antero Resources Corporation

BARNETT SHALE ACREAGE

Barnett Shale Acreage
Ellis and Johnson Counties, Texas

• 1,638 gross acres
• 1,213 net acres
• 100% working interest
• 75% average net revenue interest
• Leases expire in 2nd quarter 2011
• Leases are paid-up
• Leases covering 825 net acres may be extended for additional 2 years
• 100% Fee leases
• Acreage block located near area of significant Barnett development
  • Reported EUR’s up to 5+ Bcfg northeast of acreage block
  • Barnett thickness ranging from 350 – 450 feet
  • Development on 40-acre spacing
• Active offset activity by major operators
  • Operators include EOG Resources, Range Resources, Chesapeake and XTO
• Recent 3D seismic across and nearby acreage may be available for purchase
• Several 2D seismic lines available for purchase
• Evolving drilling and completion techniques increasing reserves