Sale of Non-Operated DJ Basin Properties

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1 Sale of Non-Operated DJ Basin Properties E X E C U T I V E S U M M A R Y J U N E 2 0 5

2 Executive Summary Core DJ Basin Position in the Heart of Ongoing Codell and Niobrara Development EmKey s ( EmKey", or the "Company") is offering for sale all of its nonoperated working interest properties located in Laramie County, Wyoming and Weld County, Colorado (the "Properties"). TenOaks Energy Advisors, LLC ( TenOaks ) is representing the Company as its exclusive technical and financial advisor in connection with the sale of the Properties. NE Total Proved Reserves of.2 MMboe with a PV-0 of $5.7 MM - PDP reserves of 479 Mboe with a PV-0 of $8.9 MM Reserves - PUD reserves of 739 Mboe with a PV-0 of $6.8 MM - Reserves targeting the Codell and Niobrara - Majority of current and future value located in Laramie County (Silo Field) Malibu Polara Kaiser-Francis EMKEY ASSETS Operated by Kaiser-Francis, Samson Energy, and Cirque Resources - Samson recently acquired a portion of Cirque s DJ Basin assets Grace Bay Production and Operating Cash Flow Working interest ranges from 2.5% - 25% Avg. Daily Production: ~,400 Boe/d gross / ~200 Boe/d net (95% oil) from seven horizontal wells - Current production is from the Codell Sands Projected June 205 PDP cash flow: ~$235,000 Rimrock Whitby Magee Stacked targets including the Niobrara A, B, C and Codell formations / EOG testing 2+ wells per section Future Development Inventory of Proved upside locations targeting the Codell and Niobrara - Most of the upside locations are permitted Upside yielding attractive IRRs as several operators in the area are reporting 20-30% reductions in service costs More than 550 Codell and Niobrara permits issued in the area since January 205 Railay (Weld Coutny) 2

3 Net Daily Oil Equiv. (Boe/d) Well Count 9/4 0/4 /4 2/4 /5 2/5 3/5 4/5 Executive Summary Stable Production Base / Upside Yields Attractive IRRs in the Current Commodity Price Environment 0,000,000 Effective date,000 Net Daily Oil (Bo/d) Net Daily Gas (Mcf/d) 0,000 0, PDP PUD (Niobrara) PUD (Codell) Well Count 3

4 Executive Summary Sale Process and Timeline Transaction will be structured as an asset sale Upon execution of a confidentiality agreement, TenOaks will provide: - Confidential evaluation materials - Access to the virtual data room (VDR) The VDR will be available from June 2 July 2 June 205 July 205 August 205 M T W Th F Sa Su M T W Th F Sa Su M T W Th F Sa Su Data Room Available Offers Due Closing Effective Date PSA Please direct all questions to one of the TenOaks contacts below B.J. Brandenberger (24) bj.brandenberger@tenoaksadvisors.com Jason B. Webb (24) jason.webb@tenoaksadvisors.com Lindsay Sherrer (24) lindsay.sherrer@tenoaksadvisors.com 480 N. Dallas Parkway, Suite 75 Dallas, TX (24)

5 Disclaimer As a precondition to Seller allowing the Recipient to review this document, the Recipient acknowledges and agrees to the following: The information contained herein is for discussion purposes only and is not intended to form the basis of any decision by Recipient with respect to any such transaction or otherwise, and does not attempt to present all the information that Recipient may require for purposes of making any such decision. These materials speak as of the date hereof, except where otherwise indicated, and neither the Seller nor TenOaks Energy Advisors, LLC ( TenOaks ) undertakes any obligation to update the information contained herein. Seller and TenOaks expressly disclaim any and all liability and responsibility for the quality, accuracy, or completeness of this document. Recipient will conduct its own independent evaluation and analysis of the Seller, its assets, and the Properties and satisfy its own diligence standards for deals of this type, and will rely solely on its own independent evaluation and analysis of the Properties when deciding whether or not to submit an offer, enter into definitive agreements or consummate a transaction. The Recipient further acknowledges and agrees that only the express representation and warranties contained in executed definitive agreements shall be binding on the parties. If the Recipient determines that it cannot, or is unwilling, to comply with the foregoing preconditions to the disclosure of this document, it should immediately notify TenOaks in writing, discontinue its review and return all related information supplied to Recipient, including this document. Seller and TenOaks Energy Advisors, and its respective affiliates, officers, directors and employees have no obligation to provide the Recipient with access to additional information. All sales are subject to prior sale and Seller has no obligation to accept any offer. This document does not constitute an offer to sell or a solicitation of an offer to buy the Properties in any jurisdiction in which such solicitation would be unlawful. 5