SEMGROUP

CAMRICK CO₂ WATERFLOOD PROJECT
NON-OPERATING WORKING INTEREST
BEAVER & TEXAS COUNTIES, OK & OCHILTREE COUNTY, TX

• Enhanced Oil Recovery – Upper Morrow formation
• Combined CO₂ and water injection
• 1.7 million barrel Proved Oil Reserves
• Positive net cash flow
• Development costs covered by operating cash flow
• Operated by Chaparral Energy, LLC

OWNERSHIP

• 10% Working Interest, 8.14% - 8.17% Revenue Interest
• 14,368 total gross acres in three contiguous units:
  • Camrick Unit, Camrick NW Unit and North Perryton Unit
• Limited to the unitized formation (Upper Morrow)

PRODUCTION & CASHF FLOW

• Current gross production 1,573 BOPD and 88 MCFD (Jan. 2010)
• Historical averages, net to owner (avg. Mar. 09-Feb. 10)
  • $232,971 net revenues per month, after deducts and taxes
  • $58,671 per month net cash flow, after capital & expenses
• Projections for remainder of 2010, net to owner:
  • 146 BOPD average net production
  • $301,990 net revenue per month, after deducts and taxes
  • $54,828 per month net cash flow, after capital & expenses

RESERVES & VALUE

• PDP reserves 328,255 BO & 7,676 MCF (374,371 BOe):
  • 10% discounted value $7,994,324
• PNP + PUD reserves 961,699 BO & 57,766 MCF (1,308,295 BOe)
  • 10% discounted value $21,923,946
• Third party reserves evaluation is available

NOTE: A Confidentiality Agreement ("CA") must be executed prior to receiving the data package. Please visit our web-site to order this package and download the required CA.

Data Room available in Meagher’s Tulsa office by appointment only.
Please call Jacque Semple (918) 481-5900 x221