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  Economics : Rates of Return/ IRR

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Extensive Multi-Year Drilling Inventory with Strong Rates of Return Identified Horizontal Locations Identified Vertical Locations 4,500 4,000 Operated horizontal locations booked as 5 wells across a section in Wolfcamp (1,100 spacing) and 10 wells across a 3,500 section in Spraberry (500 spacing) in Focus Area 1,077 3,000 622 2,500 348 2,000 4,077 298 1,500 323 92 2,378 1,000 668 Focus Areas Dawson Area 500 92 557 0 Middle Lower Wolfcamp A Wolfcamp B Wolfcamp D Total Target Vertical 40- Vertical 20- Total Spraberry Spraberry Horizontal Acre Spacing Acre Spacing Locations Locations Net Locations: Focus Area 338 413 188 194 224 1,357 451 711 2,519 Dawson 67 67 - - - 134 - - 134 Total Net Locations: 405 480 188 194 224 1,492 451 711 2,654 Avg. Lat. Length 7,157' 7,064' 7,051' 7,091' 6,991' 7,063' % Booked as PUDs 2% 4% 2% 18% 1% 5% Clearfork, Jo Mill, Strawn, Atoka, and other formations are potential future upside ___________________________ Note: As of June 2015. Includes locations from acquisitions subsequent to June 2015, including the potential WPR Acquisition. Excludes Clearfork, Jo Mill, Strawn, Atoka, and any other horizontal zones. 24
RSP Permian Inc.
November 2015

2015 Development Program Dawson Bordon 100gross(94net)wells InGlasscockCounty: 57grosswells:WCA/WCBstacked o Laterallengths:6,700&7,500 o Economics Howard Atflat60/bbl oil,22.20/bbl Martin NGL,and4/Mcf gas:IRRsof 40%50%;PV1056MM D&Ccosts:5.66.0MM, including0.2MMofwell specificfacilitiescosts EURs:850MBOEfor7,500 lateral,770MBOEfor6,700 Glasscock lateral Midland ProductMix:Oil58%,NGL24%, andGas18% 11grosswells:WCA/WCBstacked Upton Reagan o Laterallengths:4,400 o Testingtighterspacing InMartinCounty: 32grosswells:LSB/WCA/WCB Laterals:6,700and7,500 EGN Acreage D&Ccosts:5.96.5MM,including Blue Outline: Wolfcamp Shale (66,333 net acres) 0.2MMofwellspecificfacilities Purple Outline: Lower Spraberry Shale (67,693 net acres) costs Red Outline: Cline Shale (52,792 net acres) 10
Energen Corp.
September 2015

Combined Company Benefits The Proposed Strategic Combination between Victory and Lucas would provide benefits to all stakeholders Significant drilling inventory in two of North Americas most prolific and economic oil and gas plays (Permian Basin and Eagle Ford) 130 Eagle Ford well locations offering an estimated 17% to 32% IRR at 50 oil 1 20+ Austin Chalk well locations 10 Wolfcamp, Spraberry, Fusselman, Cline Drilling locations in the Permian Basin 85% of all locations are held by production (HBP) with no mandatory drilling obligations Pre-merger investments in high-grade drilling opportunities are expected add significant value Expected to increase combined company production from 145 BO/PD to 845 BOE/PD (assumes 2 Boggs wells at 50% WI and 5 PV wells at 2% WI). Two additional 50% WI locations are available for drilling by end of year. Expected to increase monthly cash flow from 185,000 per month to 1.3 million per month in Q3 (will decline with no additional drilling or PDP acquisitions) Expected total PDP reserve valuation increases from 4.2 million to 18.1 million (Feb 2015 NYMEX Strip) Expected total P2 reserve valuation increases from 51.5 million to 60.9 million (Feb 2015 NYMEX Strip) Expected public company annual cost reductions of nearly 50%, compared to the expenses that each company would incur as separate public entities.(est. 1,500,000 annually) Expected shareholder liquidity, improved market cap, institutional coverage and a sustainable NYSE MKT listing After the merger the combined company is expected to payoff or remediate 8 million in current Lucas debt 1 The internal rate of return is computed using third party reserve reports, and reflects returns exclusive of anticipated G&A and debt service 6
Victory Energy Corporation
April 2015
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