PERFORMANCE SUMMARY Year Ended 31 December 2014 As % 2013 As % FINANCIAL (In $000’s) Oil, gas and NGL sales $ 159,793  $ 85,345  Adjusted EBITDAX (% of sales) 126,373  79% 52,594  62% Net cash provided by operating activities 128,087  62,646  Capital investment: Development and production assets $ 338,366  $ 217,514  Exploration and evaluation expenditures  72,755  165,142 TOTAL $ 411,121  $ 382,656 Cash $ 69,217  $ 96,871  Borrowing capacity 15,000  33,000  Total Liquidity $ 84,217  $ 129,871  Total assets $ 796,520  $ 625,169  Debt to Adjusted EBITDAX $ 130,000  1.03  $ 30,000  0.57  Shareholders’ equity $ 435,006  $ 347,241  OPERATIONAL Proved reserves (Contant Case): Oil (Mbbls) 17,026  66% 12,956  62% NGL (Mbbls) 4,166  16% 2,683  13% Natural gas (Mmcf) 28,733  18% 30,655  25% TOTAL (Mboe) 25,981  20,748  Daily production: Oil (Bbls) 4,589  69% 2,267  75% NGL (Bbls) 734  11% 263  9% Gas (Mcf) 7,869  20% 2,915  16% TOTAL (Boe) 6,635  3,015  Realised price (net of royalty and transportation): Oil (per Bbl) $ 86.56  $ 95.92  NGL (per Bbl) 32.24  33.46  Gas (per Mcf) 3.42  2.97  TOTAL (per Boe) $ 71.22  $ 79.10  $100,000 $200,000 $300,000 $400,000 $500,000 $50,000 $100,000 $150,000 $200,000 5,000 10,000 15,000 20,000 25,000 30,000 SALES AND  ADJUSTED EBITDAX EXPLORATION AND  DEVELOPMENT (000’s) PROVED RESERVES (Constant Case) (Mboe) ■  Oil, natural gas and NGL sales ■  ADJUSTED EBITDAX ■  Exploration and evaluation expenditures (incl acquisitions) ■  Development and  production assets ■  Oil and NGLs (Mbbls) ■  Natural gas (Mboe) 2013  2014 2013  2014 2013  2014 $85,345 $159,793 $126,373 $165,142 $72,755 25% 18% 82% 75% $338,366 $217,514 $52,594 1,000 2,000 3,000 4,000 5,000 6,000 7,000 DAILY PRODUCTION (Mboe) ■  Oil and NGL (Bbls) ■  Natural gas (Mboe) 80% 20% 16% 84% 2013  2014