1. 2016 Louisiana Energy Conference . June 1, 2016 New Orleans, LA

2. Operational Overview Current production:
Breton Sound/ Palmetto offshore ~2,820 Boed (36% oil)
Jaspo onshore ~2,360 Boed (11% oil)
Strong, positive cash from operations in current strip environment
Additional organic growth opportunitues

3. Management Overview
Michael Willis
President
> 20 years of energy industry leadership roles primarily focused in the GOM federal and state waters
Well versed in all aspects of the business; focused on safety and environmental responsibility and working with stakeholders with integrity and transparency
Mark Wojna
VP Exploration
Discovered > 200 BCF and 20 million barrels of oil in GOM federal and state waters and SE Louisiana
Detailed knowledge of regional subsurface in those areas; ability to distinguish valid hydrocarbon plays utilizing the latest seismic processing
Tony Richards
VP Engineering
Experienced engineering professional with career focus on team leadership, reservoir engineering, reserves analysis and reporting, and economic evaluation
Increasing responsibility with E&P companies covering full spectrum of enterprise size and ranging from production to exploration oriented firms
Highly Skilled Leadership Team with a Proven Track Record of Success That Has Worked Together for an Average of 15 Years

4. Operational Highlights
Q production ~4,700 Boed
~25% Oil, 75% Gas
LOE has been reduced ~70% year over year
Operational efficiencies, lower service costs and lower personnel costs
Reserves as of 1/31/16
Total proved reserves of ~7MMBOE
HSE milestones and accomplishments
Zero lost time accidents over the last 5 years
G&A has been reduced ~63%
Consolidated from three offices to one
Upstream currently staffed to take on exploration and follow on capital projects

5. Value Adding Portfolio
Strong Base Production
Split between shallow water LA and onshore TX
Building cash flow in current strip price environment
Operational Excellence
Significantly reduced costs
Zero lost time accidents in 5 years
Additional Organic Growth Opportunities
High probability of success
Increased oil weighting, enhancing economics
Meaningful increase to production and cash flow
Debt Free Balance Sheet
Cash flow growth increases optionality for reinvestment opportunities
Upstream is Well Positioned to Capitalize on the Current Opportunities