1. Enercom Conference August 2009

2. 2 Safe Harbor This presentation contains projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the Company’s current view with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain factors. A discussion of these factors is included in the Company documents filed with the Securities and Exchange Commission. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, or the solicitation of a proxy or an attempt to influence any voting of securities, by any person.

3. 3 August 2009 Capital Structure  NYSE AMEX: DNE  140 MM Primary Shares o/s  $17 MM Market Capitalization of common  $300 MM Senior LTD 10.5% Interest – Cash  $222 MM Convertible preferred stock (6/30/09) 12% Coupon - PIK  $35 MM Revolver – Up for Redetermination $17 MM borrowed  $12.8 MM Cash (6/30/09)

4. 4 August 2009 Overview  Critical mass built through the Acquisition of under- exploited and under-explored Gulf Coast legacy fields  Focused on Exploration, Exploitation & Development activity in South Louisiana and the Texas Gulf Coast  Prolific inventory of Exploration, Development and Workover Opportunities to Add Reserves and Grow Production through applied Drilling and Imaging Technology

5. 5 August 2009 Field Areas Producing Fields23 Gross Acres~104,553 Malo Domingo Comite Welder Ranch Toro Grande Columbus Chocolate Bayou Hitchcock NE Pearsall Bateman Lake Live Oak East Lake Sand High Island 30 Lake Arthur South Florence North Broussard Bayou Choctaw NW Lake Boeuf SW Leeville Garden Island Bay Murphy Lake Bayou Couba Manchester SW Abbeville Exploration Potential Exploitation Focus Houston Headquarters Alvin Townsite Prospect

6. 6 August 2009 Field Characteristics  Large acreage tracts with high Working Interests More than 90% of wells operated Re-completion, PUD and Extension Opportunities Significant Deeper Exploration Upside  Attractive Margins with sustainable Cashflow  Legacy assets of Major oil companies Capital and Technology Starved Sparsely drilled at depth

7. 7 August 2009 Garden Island Bay  PROJECT FACTS  Newly reprocessed seismic data  Significant subsalt potential  Over 22 MMBOe shallow potential  OWNERSHIP  100% W.I.  Operator  16,600 acres  CURRENT STATUS  30 wells producing 900 BOPD & 1.5 MMCFG/D  2009  9000 Acre Subsalt Joint Venture commenced  2010 Drilling  Exploration / Exploitation  3 Well Joint Venture post-Hurricane Season

8. 8 August 2009 Garden Island Bay “Building Block Prospects” Potential Reserves of over 21.6 MMBOe SALT Proposed 2009 - 10 Drilling Lead “S” 14,000’ 3.2 MMBOe Potential Lead “Alpha” 6,700’ 2.0 MMBOe Potential Lead “Epsilon” 7,000’ 1.2 MMBOe Potential Lead “P” 8,600’ 2.6 MMBOe Potential Lead “E” 8,000’ 2.5 MMBOe Potential Lead “Z” 11,000’ 1.2 MMBOe Potential Lead “Delta” 7,800’ 330 MBOe Potential Lead “908 B” 11,000’ 500 MBOe Potential Lead “NU” 5,000’ 830 MBOe Potential Lead “Theta” 13,000’ 1.2 MMBOe Potential Lead “Y- Y Deep” 9,000’ 1.2 MMBOE Potential Lead “Kappa” 7,500’ 416 MBOe Potential Lead “MU” 4,750’ 2.3 MMBOe Potential Lead “Argos” 9,500’ 330 MBOe Potential Lead “203 Offset” 9,800’ 330 MBOe Potential Lead “O SE” 7,700’ 400 MBOe Potential Lead “233 Updip” 7,700’ 380 MBOe Potential Lead “Epsilon East” 6,500’ 266 MBOe Potential Lead “X” 6,100’ 180 MBOe Potential Lead “Gromit” 6,000’ 300 MBOe Potential 2009 - 10

9. 9 August 2009 Garden Island Bay Shallow Prospect Inventory ProspectReservoirDepthReserve PotentialDrill CostFinding Cost “S”170 Sand14,000’3,200 MBOe$8.8 MM$ 2.75 / BOe “Y – Y Deep”111 – 169 BC Sand9,000’1,200 MBOe$3.7 MM$3.08 / BOe “Alpha”D2 Sand6,700’2,000 MBOe$2.0 MM$1.00 / BOe “P”F1 Sand8,600’2,600 MBOe$4.2 MM$1.61 / BOe “Epsilon”169BC Sand7,000’1,200 MBOe$2.5 MM$2.08 / BOe “Z”Cib Carst Sand11,000’1,200 MBOe$4.9 MM$4.08 / BOe “E”119 Sand8,000’2,500 MBOe$4.0 MM$1.60 / BOe “908 B”169 Sand11,000’500 MBOe$4.9 MM$9.80 / BOe “Delta”158 Sand7,800’330 MBOe$2.7 MM$8.18 / BOe “X”111-3 Sand6,100’180 MBOe$1.9 MM$10.55 / BOe “Nu”B Sand5,200’830 MBOe$2.5 MM$3.01 / BOe “Theta”170 Sand13,000’1,200 MBOe$7.7 MM$6.41 / BOe “Argos”170 Sand9,500’330 MBOe$4.0 MM$12.10 / BOe “O Southeast”8500 Sand7,700’400 MBOe$2.3 MM$5.75 / BOe “203 Offset”8500 Sand9,800’330 MBOe$4.4 MM$13.33 / BOe “Epsilon East”169 Sand6,500’266 MBOe$2.1 MM$7.89 / BOe “Gromit”G Sand6,000’300 MBOe$1.9 MM$6.33 / BOe “233 Updip”8500 Sand7,700’380 MBOe$2.7 MM$7.10 / BOe “Kappa”177 Sand7,500’416 MBOe$2.3 MM$5.52 / BOe “Mu”4500 Sand4,750’2,300 MBOe$1.7 MM$0.74 / BOe TOTALS21,662 MBOe$71.2 MM$3.29 / BOe 100% Unrisked

10. 10 August 2009 Garden Island Bay Proposed 2009 Drilling “Epsilon” Prospect “Gromit” Prospect “Kappa Prospect”

11. 11 August 2009 Subsalt Exploration Partnership formed to Market & Explore Deep Potential (~ 9,000 acres.). Retained 15% Working Interest plus Promote yields +/- 20% Interest Garden Island Bay Subsalt Marketing Program Merged Big Hum and NE Subsalt Prospect Maps +/- 500 BCFe Potential SALT

12. 12 August 2009 Chocolate Bayou Field Working interest varies from 20% to 100% in 1,281 acres are held under lease. Recently reprocessed Depth-migrated seismic data Successfully drilled and completed the Wieting #30 well. The Wieting #32 well will test the 12,600’ “S” sand and will be drilled on a 2:1 promoted basis The Wieting #33 well will test the Andrau sand and the large exploratory potential (>30 BCF) in the deeper IP Farms section on a 50% WI basis. Drilling is anticipated in late 2009 or 2010. Wieting #33 – IP Farms Sand Wieting #33 – Andrau Sand Dune Wieting #30 Wieting #32 – 12,000’ “S” Sand

13. 13 August 2009 2009 Drilling Program Alvin Townsite Prospect LOPT # 10ST Prospect – Live Oak Field 10,900’ MD, Estimated DHC of $1.4 MM. 100% Reserve Potential 6.3 BCFe (77.6% WI, 79.6% NRI) 10,100’ MD, Estimated DHC of $1.2 MM. 100% Reserve Potential 150 MBO (100% WI, 76% NRI)

14. 14 August 2009 Financial and Operating Results 20072008Q1 2009Q2 2009 Production (BCFe)9.011.42.42.3 Revenue ($MM)84.3147.214.314.9 Total LOE ($MM)32.443.57.08.0 G&A (Cash $MM)14.113.23.42.7 Interest / Financing ($MM)31.132.18.7 Capital ($MM)147.052.93.02.4 EBITDAX ($MM)46.681.16.36.4

15. 15 August 2009 Mid-Year Reserves BCFePV10* (MM$) PDP54.3149 PDNP37.899 PUD45.9162 Total Proved (P1)138.0460 PROBABLE (P2)10.222 POSSIBLE (P3)13.021 Total Probable and Possible (P2 & P3)23.243 EXPLORATION (P4)141.6**388 Total302.8891 *PV-10 based on June 30, 2009 NYMEX Strip Pricing **Net Interest after Industry Joint Ventures

16. 16 August 2009 Looking Ahead 2009 Operations  Manage Program to Available Cash, Cash Flow and Revolver Availability  Continue Organic Growth  Define and Exploit Deeper Pool Opportunities  Add new Projects within Core Areas  Joint Venture Exploration Programs  Promote Existing Interests