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1 Louisiana New Orleans Jefferies 2012 Global Energy Conference November 2012
2 Forward Looking Statements This presentation may contain forward-looking information and statements regarding EPL. Any statements included in this presentation that address activities, events or developments that EPL expects, believes, plans, projects, estimates or anticipates will or may occur in the future are forward-looking statements. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors. Among other items, such factors might include: stock market conditions; the trading price of EPL s common stock; cash demands caused by planned and unplanned capital expenditures; changes in general economic conditions; uncertainties in reserve and production estimates; unanticipated recovery or production problems; hurricane and other weather-related interference with business operations; the effects of delays in completion of, or shut-ins of, gas gathering systems, pipelines and processing facilities; changes in legislative and regulatory requirements concerning safety and the environment as they relate to operations; oil and natural gas prices and competition; the impact of derivative positions; production expenses and expense estimates; cash flow and cash flow estimates; future financial performance; drilling and operating risks; our ability to replace oil and gas reserves; risks and liabilities associated with the properties to be acquired in the acquisition; volatility in the financial and credit markets or in oil and natural gas prices; and other matters that are discussed in EPL s filings with the Securities and Exchange Commission.( NYSE: EPL Jefferies 2012 Global Energy Conference November
3 Oil, Value & Growth Focused Operations in Prolific Areas Oil Value Play Louisiana South Timbalier Area SM 239 Area WD 29 Field MP Complex Long Lived Oil SS 208 Area Central Gulf of Mexico SP 78 Area East Bay & SP 49 Fields Balanced Growth Strategy Robust Balance Sheet Financial Snapshot Market Cap.* $784 MM EV* $1,499 MM 1P Reserves (PF Acq.) 60% oil, 76.7MMboe 2013 EBITDAX Range $475 Mm -$525 Mm R/P (PF Acq.) 9.6 yrs Net Acreage (PF Acq.) ~331, 000 Net Acres *as of 11/23/12 NYSE: EPL Jefferies 2012 Global Energy Conference November
4 Our Key Accomplishments Transformed from a gas profile to 80% oil within two years Completed four oily acquisitions within focus area Optimized capital budget to drive DCF Addressed organic growth through drill-bit Maintained significant liquidity Transformative Events Executed in a Short Timeframe 2009A 2010A 2011A CAGR Absolute Increase Oil Production (bo/d) 5,370 6,401 8,089 23% 51% EBITDAX ($MM) $102 $149 $224 48% 120% 1P Reserves (MMboe) % 19% 2P Reserves (MMboe) % 28% Liquidity ($MM) $72 $79 $280 97% 289% Guidance (midpt) ,000 + exit 18,000 ~$280 ~$500 ~77 (PF Acq. 7/1/12) $220 (current) NYSE: EPL Jefferies 2012 Global Energy Conference November
5 EPL Has Acquired Hilcorp s GOM Shelf Interests Oily GOM complementary assets provide scale for relatively low acquisition cost at ~$14/Boeand 65% of PV10 Accretive on all metrics and immediately cash flow positive Significant upside potential given our strength in shallow water exploitation in our core areas Long lived assets with R/P of 11.2 years Organic growth drives free cash flow repaying revolving credit facility by yearend 2014 Highlights (1) Net purchase price of $537 million after estimated purchase price adjustments of $13 million Purchase Price (1) Key Facts $550 million Effective Date July 1, 2012 Closing Date October 31, 2012 Proved Reserves (7/1/12) 38.7 Mmboe Current Production Proved PV-10 (7/1/12) Purchase Metrics: 59% Proved Developed 49% Oil ~10,000 Boe/d, 50% Oil $842 million $14.21/Boe 1P reserves $19.56/Bbl assuming $1.50/Mcf for the gas ~$55,000/Flowing Barrel ~65% of PV-10 NYSE: EPL Jefferies 2012 Global Energy Conference November
6 Transformational Acquisition Acquisition Doubles EPL s Proved Reserves 2012E Exit 1P Reserves Production (Mmboe) (1) (Mboe/d) PV-10 ($Mm) (1) EPL $1,311 (1) Acquisition (2) $842 Total $2,153 WD 29 Field $384Mm PV-10 MP Complex $152Mm PV-10 EPL Core Areas Acquisition Core Areas South Timbalier Area $346 Mm PV-10 SMI 239 Field $43Mm PV-10 SS 208 Field $517Mm PV-10 SP 78 Field $203Mm PV-10 East Bay $365Mm PV-10 (1) Proved reserves and PV10 estimates based on EPL internal estimates and W.D Von Gontenestimates using SEC prices as of 7/1/2012. NYSE: EPL Jefferies 2012 Global Energy Conference November
7 A Stronger EPL EPL % of Total Acquisition % of Total EPL Pro Forma Proved Reserves (Mmboe) (1) % % 76.7 % Oil 72% 49% 60% % PD 90% 59% 74% 2012E ExitProduction (Mboe/d) % % 22.5 R/P (Using 2012 Exit Production) PV-10 (1) (Mm) $1,311 61% $842 39% $2, E Exit Production Pro Forma Proved Reserves Pro Forma Reserves by Area Gas 29% 22.5 Mboe/d Oil 71% PUD 26.0% PDNP 30.0% 76.7 (1) Mmboe Acquisition PDP 44.0% MP Area 5% WD Area 9% ST Area 13% EB 18% 76.7 (1) Mmboe SS % Other 18% SP 78 10% SMI 239 4% (1) Proved reserves and PV10 estimates based on EPL internal estimates and W.D Von Gontenestimates using SEC prices as of 7/1/2012. NYSE: EPL Jefferies 2012 Global Energy Conference November
8 Significant Oil Production Growth Pro Forma Production Heavily Weighted to Oil % Oil: 36% 47% 73% 76% 71% 82% Oil Production Bo/d 5,370 6,401 8,089 13,000 To 13,500 16,000 17,500 To 18, Q2012E Dec Exit Rate 2013E (1) Based on oil, natural gas and NGL production. (2) Effective date as of 10/31/2012 (2) 2013 projections lead to a ~230% growth in oil production since exit production ~70% oil vs. ~35% oil in 2009 Continued focus on oil should increase % oil production in 2013 to ~80% EPL has a consistent track record of drilling success, averaging over 80% since 2009 NYSE: EPL Jefferies 2012 Global Energy Conference November
9 Driving Cash Flow Growth Historical and Projected EBITDAX and CAPEX ($Mm) $600 $500 $400 $300 $200 $100 $- $102 $149 $224 $275 to $285 $475 to $ E 2013E CAPEX ($Mm): $11 $57 $101 $226 $300 Capital spend on exploration and development will remain well within cash flow Allows free cash flow from combined assets to provide natural delevering Capital budget: 2012: $226 Mm 2013: $300 Mm (1) Acquisition assumes 2012 annualized EBITDAX estimate NYSE: EPL Jefferies 2012 Global Energy Conference November
10 Delevering Plan Uses Ample Free Cash Flow Organic growth from existing and acquired assets will provide significant free cash flow of ~$125 million to reduce revolver debt in 2013 Expect by 2014 acquisition revolver debt fully repaid and Debt to EBITDAX at or below 1x Aggressive hedging program to mitigate downside commodity price risk Hedge 80% of forecasted production acquisition production through 2015 (2013 & 2014 complete, 2015 in progress) 62% of combined company oil hedged for 2013 and opportunistically adding additional hedges in 2014 Total Debt Total Liquidity Debt / EBITDAX ($ millions) ($ millions) $205 $105 $0 $510 $510 $510 $220 $345 $ x 1.2x >=1x 2012P 2013P 2014P Senior Notes Revolver 2012P 2013P 2014P 2012P 2013P 2014P NYSE: EPL Jefferies 2012 Global Energy Conference November
11 Louisiana New Orleans Asset Quality and Near Term Plans
12 Long Lived Oil & Multi-Pay Potential Prolific Legacy Oil Fields Cumulative Production in Focus Areas ~2.7 Billion boe Louisiana SM 239 Area 92 Mmboe, 36% Oil WD Fields 146 Mmboe, 83% oil MP Complex 107 Mmboe, 88% oil Multiple Pay Horizons SS 208 Area 266 Mmboe, 48% oil Central GOM South Timbalier Area 960 Mmboe, 78% Oil East Bay Field 900 Mmboe, 67% oil SP 78 Area 198 Mmboe, 40% Oil Economic Reserve Life (yrs) West Delta Area South Timablier Area South Pass 78 South Marsh Island 239 Ship Shoal 208 Main Pass Area East Bay NYSE: EPL Jefferies 2012 Global Energy Conference November
13 Recent Organic Successes in Core Areas Focused Teams Skilled at Driving Growth West Delta Area Multi rig operations ongoing finding bypassed oil Executed on 12 operations to date, 100% successful Opportunity rich requiring a new 7 slot platform installation New WD B Platform Installation Main Pass Area 80% success rate on drillwellprogram to date (4 of 5) 6 high quality pay sands found, over 200 net ft. of pay Two wells on line already, additional two wells expected on line in 4Q12 Additional opportunities and 3D reprocessing ongoing Numerous Wells in the Program To Date Have Found Stacked Oil Pays Combined program to date 94% success rate (16 of 17) ~1 year payout Quick cycle times & high return NYSE: EPL Jefferies 2012 Global Energy Conference November
14 New Assets with Underexploited Inventory Assets were non-core to seller Significant untapped exploitation potential in shallow and deep horizons EPL will reprocess all seismic data sets in the core areas Same approach used successfully in all prior acquisitions Robust inventory of lower risk exploitation 89 behind pipe & 29 PUD locations Begin execution in 2013 Additional drill locations identified 2 examples: Bul1-6 Sand identified by EPL (2.7 Mmboeupside to drill in 2013) Amplitude anomaly in SS208 field (3-4 Mmbo potential) Recent Hilcorp Acquisition: Key Assets Summary Proved Reserves (Mmboe) PV-10 (Mm) Net 2H12E Avg. Developed Net Boe/d Acreage (M) Producing wells (gross) SS 208 Area 17.3 $517 4, SP 78 Area 7.8 $203 2, SMI 239 Area 3.1 $43 1, Sub-total 28.2 $763 8,141 (1) Total package 38.7 $842 10, (1) Source: W.D. Von Gonten reserve report as of 7/1/2012. NYSE: EPL Jefferies 2012 Global Energy Conference November
15 Integration Underway on Expanded Leasehold Operational Integration Shadowed Hilcorp operations since early October Hired Hilcorp workforce to augment EPL staff 40 personnel (37 field) Expect to reduce LOE + improve runtime Field staffing re-configuration Major reductions (5-10%) from transportation, rental equipment, chemicals, etc. Technical Integration Process underway to augment highly scalable technical staff by 3 asset teams Recent hires already in house; expect remainder in 2012/early 2013 Already pulled down seismic to commence reprocessing efforts Finalizing drill plans and workovers for 2013 Building inventory for 2014 and beyond South Marsh Island Area Operational Focus in Core Areas Ship Shoal South Timbalier East Bay West Delta South Pass Expansive Total GOM Shelf Leasehold* EPL 280,305 Gross Acres; 181,601 Net Acres Hilcorp 215,033 Gross Acres; 149,366 Net Acres Total 495,308 Gross Acres; 330,967 Net Acres *As of 7/1/2012 NYSE: EPL Jefferies 2012 Global Energy Conference November
16 Extracting Growth from Underdeveloped Assets Exploration opportunities emerging in the acquisition (~150,000 net acres) Far Stack AMP w/seismic Depth Structure Map Apparent high bid at lease sale on six lease blocks around preacquisition core areas (~27,000 net acres) Regional geologic study underway covering EPL s core area to unlock upside (~129,000 net acres) Deep potential largely unexplored (combined asset base ~331,000 net acres) Ship Shoal Area: Amplitude Anomaly Trapped Down Dip the Main Field Provides 3 4 Mmbo NYSE: EPL Jefferies 2012 Global Energy Conference November
17 Preliminary 2013 Drilling Program $300 Mm Capital Budget Fully Identified ~$200 Mm, mainly on existing EPL Core Fields ~$100 Mm on Hilcorp assets, primarily in SS208 Currently 43 Major Projects ~50% increase over 2012 Includes one Open Water Exploratory test at MP 151 Evaluate two blocks acquired in Central Sale 222 (MP 151 & WD 48) Hilcorp ~$100Mm Rig Other WD29 ST (1) Excludes G&G / Seismic EB - Tbg Swaps/Coil Tbg EB - Posted Barge ST 41/WD 29 Snubber WD 29/MP151 - Mat Jack up Rig (Herc 265) WD 27/29 - Mat Jack up Rig (Herc 213) WD29/ST/EB Mat Jack up Rig (Herc 201) 2013 Well Work Reactivation/ 5 Tbg Swaps 4 sidetracks CAPEX by Area ($Mm) (1) EB Existing EPL ~$200Mm WD Preliminary Rig Schedule Jan Feb Mar Apr May June July Aug ST - WD Coiled Tbg Reactivation EB 1007 Pickeral s/t Major Project AREA Count EB 7 ST26 4 BM (non-op) 4 WD27 7 WD29 7 MP151 1 Hilcorp 13 Total 43 EB Coiled Tbg Reactivation SS215 SM239 #203 5 Workovers H- 13 WD29 wo SP78 B3 wo ST26 wo VR39 #24 wo wo 3 Drill, 1 Sidetracks WD 29 C-2 drill WD 29 C-7 drill WD 29 C-4 s/t FULLY IDENTIFIED SCHEDULE WITH WD27 B-4 drill WD27 B-5 drill WD27 B-6 drill WD27 B-7 drill WD29 #26s/t WD28 #18 drill WD26 #1 drill f/ 1 Drill, 6 Sidetracks WD29 H- ST26 G-2 s/t EB s/t #3 EB s/t #4 EB s/t #5 WD27# Drilling Rigs by 2H2013 SS 208 Bul 1-6 SS215 L-3 s/t North s/t 2013 Operations Schedule EB paymaster deep WD28 #12 s/t EB s/t 1 EB s/t 2 5 Drills, 3 Sidetrack MAJORITY OF RIGS CONTRACTED: SS208 TP 10,11 sds, pud #1 Sept Oct Nov Dec SS208 TP 14,15 sds, pud #2 WD48 from wd27a MP 151 SS215 H-9 s/t, tp11-4 sds,pud#3 WD28 from wd 27a SS208 M plt test Bul1-7/8 Hilcorp 2 Drill, 7 Sidetracks SS 108 #44 drill SS209 P plt, tex-s EI32 #34 drill (50%) ST 26 - Independent Leg 3 Sidetracks ST26 F-7s/t ST26 F-15s/t ST26 F-31 wo Non-Operated 4 BM Sidetracks MP29 6 B- 4 ESP's BM BM BM BM NYSE: EPL Jefferies 2012 Global Energy Conference November
18 Louisiana New Orleans Value Proposition
19 Strong Financial Profile Against Peers Proved Reserve Life Proved Reserves / Annualized 3Q12 Production (Years) % Oil Production EBITDA(X) / boe Asset Retirement 3Q12 Discounted ARO / YE 11 Proved Reserves ($/boe) * Represents Nov. & Dec. data NOTE: Peer group includes (in alphabetical order), Energy XXI, McMoRan Exploration, Stone Energy, and W&T Offshore. Data for Energy XXI is 1Q12. NYSE: EPL Jefferies 2012 Global Energy Conference November
20 Significant Net Asset Value Category (as of 7/1/12) SEC PV10 $/ Share Proved Developed Reserves (1) $1,602 $40.97 Proved Undeveloped Reserves (1) $551 $14.09 Less: Net Debt (1) ($715) ($18.29) Total Proved Value $1,438 $36.77 Probable Reserves (2) $452 $11.56 Total Proved + Probable Value $1,890 $48.33 Stock Price at 11/23/12 $20.06 (1) Per SEC filings. (2) NSAI estimate NYSE: EPL Jefferies 2012 Global Energy Conference November
21 A Case for Owning EPL Balancing Your Portfolio TEV / EBITDA Oil Shale Gas Shale Peer Avg. EPL Note: As of 11/05/12. peers include EXXI, SGY, MMR, WTI. Oil Shale group includes NOG, OAS, AXAS, HK, CLR, KOG, ROSE, CRZO, SFY, SM PXD, EOG, GPOR, EVEP, PETD. Gas Shalegroup include CRK, CXPO, FST, GDP, GMXR, PVA, XCO, ECA, KWK, EOG, REXX, COG, GST, UPL, RRC, MHR, SWN. NYSE: EPL Jefferies 2012 Global Energy Conference November
22 Key Takeaways Value Compelling value proposition: current market valuation does not reflect the quality of our assets & organic inventory Oil If you re looking for long lived oil assets correlated to Brent pricing; look no further Growth Technical expertise to unlock our organic inventory & the financial framework to continue aggregating quality assets NYSE: EPL Jefferies 2012 Global Energy Conference November
23 Louisiana New Orleans Appendix
24 Definitions Boe Barrels of oil equivalent Mmboe Mboe Mmcf NGLs P&A NWS GoM PDP PUD PDNP LOE G&A ARO WO BE BOEM MMS WI Pre-Tax PV-10 Million barrels of oil equivalent Thousand barrels of oil equivalent Million cubic feet Natural gas liquids Plug & Abandonment Named wind storm Gulf of Mexico Proved Developed Producing Proved undeveloped Proved undeveloped non-producing Lease operating expenses General and Administrative Asset retirement obligation Workover Bandwidth Extension Bureau of Ocean Energy Management, Regulation and Enforcement (formerly the MMS) Minerals Management Service Working interest The discounted future net cash flows attributable to our proved reserves before taking into account future corporate income taxes\ and our current tax structure. PV-10 may be considered a non-gaap financial measure as defined by the SEC. We believe that the presentation of PV-10 is relevant and useful to our investors as supplemental disclosure to the standardized measure, or after-tax amount because the standardized measure is dependent on the unique tax situation of each company, our calculation may not be comparable to those of our competitors. Because of this, PV-10 can be used within the industry and by creditors and securities analysts to evaluate estimated net cash flows from proved reserves on a more comparable basis. NYSE: EPL Jefferies 2012 Global Energy Conference November
25 Strong Management & Scalable Organization Flat & Nimble Organization with a Highly Experienced Professional Team Gary Hanna President & CEO Andre Broussard SVP, Geosciences David Cedro SVP, Chief Accounting Officer, Treasurer T. J. Thom SVP, Chief Financial Officer Mac Jensen SVP, Business Development Chad Williams SVP, Production Paul Jones VP, Geosciences Neel Fallis VP, Reserves Mark Gregory VP, Land Strong Technical Staff Deep bench of geoscientists and engineers with technical expertise in shallow GOM Employee careers span years with major oil companies and strong independents Long history with the current assets and extensive knowledge of the region NYSE: EPL Jefferies 2012 Global Energy Conference November
26 4Q12 and FY 2012 Guidance ESTIMATED 2012 EBITDAX RANGE: $275 million to $285 million ESTIMATED PRODUCTION & SWAP HEDGE VOLUMES Net Production (per day) 4Q 2012 Full Year Exit Rate Oil, including NGLs (Bbls) 13,000-14,000 10,250-10,500 16,000 Natural gas (Mcf) 23,000-27,000 16,500-17,500 39,000 Boe 16,833-18,500 13,000-13,500 22,500 % Oil, including NGLs (using midpoint of guidance) 76% 78% 71% Swap Contracted Oil Volume Oil (barrels) % of Oil swap contracted 41% 5,390-39% 40% 4,134-39% % of Boe swap contracted 32% - 29% 32% - 31% Average Swap Price Level $ $ ESTIMATED EXPENSES (in Millions, unless otherwise noted) Lease Operating (including energy insurance) $ $ 33.0 $ $ 95.0 General & Administrative (cash and non-cash) $ $ 6.7 $ $ 23.5 Taxes, other than on earnings (% of revenue) 3% - 5% 3% - 5% Exploration Expense, including seismic costs $ 3 - $ 6 $ 21 - $ 24 DD&A ($/Boe) $ $ $ $ Interest Expense (including amortization $ $ 13.0 $ $ 28.0 of discount and deferred financing costs) NYSE: EPL Jefferies 2012 Global Energy Conference November
27 2013 Outlook ESTIMATED 2013 EBITDAX RANGE: ESTIMATED PRODUCTION $475 million to $525 million Net Production (per day) Full Year 2013 Oil, including NGLs (Bbls) 17,500-18,500 Natural gas (Mcf) 24,000-30,000 Boe 21,500-23,500 % Oil, including NGLs (using midpoint of guidance) 80% ESTIMATED MAJOR EXPENSES Loe ($Mm) G&A ($Mm) Cash Interest ($Mm) CAPITAL BUDGET $300 Million P&A BUDGET $30 Million ESTIMATED FREE CASH FLOW (midpt of estimates) $125 Million NYSE: EPL Jefferies 2012 Global Energy Conference November
28 Hedging as of November Daily Volume (Bbls) WTI SWAPS Monthly Volume (Bbls) Swap Level ($/Bbl) Daily Volume (Bbls) BRENT SWAPS Monthly Volume (Bbls) Swap Level ($/Bbl) Daily Volume (Bbls) BRENT COLLARS Monthly Volume (Bbls) Floor Ceiling $ TOTAL OIL HEDGED Daily Volume (Bbls) Monthly Volume (Bbls) NATURAL GAS SWAPS Daily Volume (Mmbtu) Monthly Swap Volume Level (Mmbtu) ($/Mmbtu) $ Jan-13 1,742 54,000 $ , ,050 $ ,000 31, $ 14, ,050 13, , Feb-13 1,714 48, , , ,000 28, , ,400 13, , Mar-13 1,742 54, , , ,000 31, , ,550 11, , Apr-13 1,733 52, , , ,000 30, , ,500 11, , May-13 1,677 52, , , ,000 31, , ,550 10, , Jun-13 1,667 50, , , ,000 30, , ,500 9, , Jul-13 1,645 51, , , ,000 31, , ,800 9, , Aug , , , ,000 31, , ,800 8, , Sep , , , ,000 30, , ,000 8, , Oct , , , ,000 31, , ,300 8, , Nov , , , ,000 30, , ,000 7, , Dec , , , ,000 31, , ,850 6, , Total 1, ,000 $ ,957 3,254,300 $ , ,000 $ $ ,157 4,057,300 9,562 3,490,000 $ 3.51 Jan $ - 5, ,500 $ $ - $ - 5, ,500 5, ,000 $ 4.01 Feb , , , ,000 5, , Mar , , , ,500 5, , Apr , , , ,000 5, , May , , , ,500 5, , Jun , , , ,000 5, , Jul , , , ,500 5, , Aug , , , ,500 5, , Sep , , , ,000 5, , Oct , , , ,500 5, , Nov , , , ,000 5, , Dec , , , ,500 5, , Total - - $ - 5,500 2,007,500 $ $ - $ - 5,500 2,007,500 5,000 1,825,000 $ 4.01 Jan $ ,500 $ $ - $ ,500 4, ,300 $ 4.31 Feb , ,000 4, , Mar , ,500 4, , Apr , ,000 4, , May , ,500 4, , Jun , ,000 4, , Jul , ,500 4, , Aug , ,500 4, , Sep , ,000 4, , Oct , ,500 4, , Nov , ,000 4, , Dec , ,500 4, , Total - - $ ,500 $ $ - $ ,500 4,300 1,569,500 $ 4.31 NYSE: EPL Jefferies 2012 Global Energy Conference November
29 Acquired Asset SS 208 Area WI 100% NRI 83% Operated Yes Proved Reserves 17.3 Mmboe (55% oil) PV-10 (Mm) $517 2H12E Avg. Net Boe/d (1) 4,548 (67% oil) R/P 10.4 Developed Acreage (M) 15.0 gross/15.0 net Producing wells (gross) 28 Water Depth ~100 ft. # producing wells 28 # platforms 11 Operational Facts (1) Source: W.D. Von Gonten reserve report as of 7/1/2012. Estimates do not reflect impact from Hurricane Isaac NYSE: EPL Jefferies 2012 Global Energy Conference November
30 Acquired Asset SP 78 Area WI 67% NRI 56% Operated Yes Proved Reserves 7.8 Mmboe(59% oil) PV-10 (Mm) $203 2H12E Avg. Net Boe/d (1) 2,006 (69% oil) R/P 10.6 Developed Acreage (M) 10.5 gross/6.2 net Producing wells (gross) 23 Water Depth ~ ft. # producing wells 23 # platforms 4 Operational Facts (1) Source: W.D. Von Gonten reserve report as of 7/1/2012. Estimates do not reflect impact from Hurricane Isaac NYSE: EPL Jefferies 2012 Global Energy Conference November
31 Acquired Asset SMI 239 Area WI 94% NRI 78% Operated Yes Proved Reserves 3.1 Mmboe(38% oil) PV-10 (Mm) $43 2H12E Avg. Net Boe/d (1) 1,587 (33% oil) R/P 5.3 Developed Acreage (M) 16.1 gross/13.5 net Producing wells (gross) 8 Water Depth ~20 ft. # producing wells 8 # platforms 9 Operational Facts (1) Source: W.D. Von Gontenreserve report as of 7/1/2012. Estimates do not reflect impact from Hurricane Isaac NYSE: EPL Jefferies 2012 Global Energy Conference November
32 Louisiana New Orleans Principal Corporate Office 201 St. Charles Ave. Suite 3400 New Orleans, LA Phone: (504) Houston Office 919 Milam, Suite 1650 Houston, TX Phone: (713) Investor Relations Contact: T.J. Thom Phone: (504) Website: eplweb.com NYSE: EPL
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