Cosmopolitan Development Project Cook Inlet, Alaska February, 2017 Business Overview • Small privately-held oil and gas development company • Headquarters in Fort Worth, TX • Operation office in Anchorage, AK • Alaska experienced directors and management team • Project located about six miles north of Anchor Point • 100% lease ownership in Cosmopolitan Unit • Over $350 million invested in Cosmo Unit to date • Emphasis on personnel safety and environmental stewardship Project Overview Asset Details  Field located 3 miles offshore  Extended reach wells drilled from shore  Dual-lateral wells  Hydraulic fracture stimulation  Spud first well on Nov. 29, 2016  12K BLPD onshore processing facility  Tyonek and Hemlock Formations; 24-27 API Hansen Production Facility 38 Acre Pad Geologic Summary •Northeast-southwest-trending anticlinal structure •Supported by local 3-D seismic and 6 wellbores •Target Eocene-Oligocene Hemlock Formation and Lower Tyonek Formation •Seal is the shale-rich member of the Tyonek Formation. •Braided fluvial depositional setting with conglomeratic sandstone Top of structure at 6400’ TVDSS Reservoir Engineering Reservoir model oil saturation Top Starichkof Top Hemlock 8 Reservoir Model  History matched to well test data  Used for field development planning and profile generation  Reserves analysis  Geocellular model with 549 layers with 1ft average thickness  Upscaled to 42 layers (280K active cells)  7 subzones identified in the Starichkof and 14 within Hemlock  Porosity 12-17%, permeability 3-14 md, Water saturation 40% Processing Facility Facility Summary • Processing Facility Capability: To VRU 12,000 BLPD To Gas 12.5 MMSCFD HP Separator • 5000 Barrel Oil Storage Tanks, 2 Sales Oil Loading racks Oil Wells • Sales Gas Pipeline Oil Crude Oil Heat • Control room monitoring Truck • 50 man camp To Water Basic process schematic • First oil sold April 2016 Plan of Development Oil Development Expansion projects Phase 1: 12K BLPD facility, 10 producer wells • Train 2 additional processing capacity • Lower Tyonek oil development • Offshore gas development • Offshore prod platform • Tyonek gas sands • On hold pending tax credit continuation or reasonable alternative Phase 2: Additional infill drilling, waterflood