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  Economics : Rates of Return/ IRR

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STACK Meramec and Merge Miss Overview Spud Peak IP-30(1) Liquids(1) Lateral Lease Operator Date Boe/d % Length 1 SLIMER 1707 1UMH-23 CHAPARRAL 9/5/2017 719 85% 4,839 2 HIGH VALLEY 1807 1UMH-36 CHAPARRAL 8/19/2017 652 77% 4,588 3 BIG TIMBER 1408 1UMH-2 CHAPARRAL 6/4/2017 769 82% 4,623 4 JESTER 1606 1UMH-3 CHAPARRAL 3/22/2017 807 89% 3,985 5 LUIGI 1605 1UMH-19 CHAPARRAL 12/26/2016 588 83% 4,751 6 BOWSER 1606 1UMH-9 CHAPARRAL 6/2/2016 1,051 82% 4,433 7 ICEMAN 1706 1UMH-33 CHAPARRAL 4/25/2016 692 78% 4,484 8 CORNER POCKET 1707 1UMH-25 CHAPARRAL 4/7/2016 822 82% 4,176 9 RHINO 8_5-14N-9W 1HX DEVON 7/22/2017 1,923 67% 9,977 10 ALFRED 1407 2-8MH MARATHON 11/20/2016 927 90% 4,523 11 HRDY 1307 1-11MH MARATHON 7/26/2016 1,878 76% 4,935 12 SHASTA 1106 1UMH-28 (JV) CHAPARRAL 10/14/2017 1,368 70% 4,869 13 BEECHAM-HUNT 1307 1UMH-13 (JV) CHAPARRAL 9/8/2017 927 72% 4,394 14 KILIMANJARO 1106 1UMH-2 CHAPARRAL 7/28/2017 1,044 82% 4,392 15 CUTBOW 1307 1UMH-26 CHAPARRAL 3/29/2017 1,292 73% 4,793 16 ROSEWOOD 16-12-7 1H JONES 6/9/2017 1,185 69% 4,617 17 ROSEWOOD 16-12-7 2H JONES 6/9/2017 1,399 67% 4,625 18 DREAM COOLER 13-12-10-6 2XH LINN 1/16/2017 1,548 58% 9,637 19 JACKSON 25-24-10-6 1XH LINN 11/19/2016 1,811 70% 9,769 20 MCNEFF 22-10-5 1H LINN 9/26/2016 1,157 67% 3,514 21 RIKELLA 2H-16-9 CITIZEN 4/20/2016 932 66% 6,179 22 ROSEMARY 1H-1-36 CITIZEN 1/23/2016 2,075 80% 7,600 Single Well Economics 90% 80% Type Curve Meramec Merge Miss 70% 60% IP-30(1) (Boe/d) 612 881 IRR % 50% ROR at NYMEX Strip(2) 62% 80% 40% 30% Total EUR(1) (Mboe) 584 1,023 20% % Liquids(1) 70% 66% 10% Lateral Length (feet) 4,800 4,800 0% 50 / 2.75 55 / 3.00 60 / 3.25 3/29 Nymex Well Cost (mm) 4.0 4.5 (1) 3-phase Meramec Merge Miss (2) Based on March 29th NYMEX Five-year average prices of 56.73 and 2.83 14
Chaparral Energy
April 2018

Corporate Highlights 67,000 core STACK Acres(1) in Kingfisher and Garfield Counties, Oklahoma Quality Asset Highly contiguous position is 84%(2) operated and 66% held by production Robust Drilling 3,381 gross and 1,510 net drilling locations(1) Inventory Highly attractive IRRs: Meramec and Osage IRR of 49% and 48%, respectively(3) Significant Operational 36% improvement in drilling times from 1H17 to date Enhanced completion design resulting in initial well performance at or exceeding type curve Improvements Implementing cost reduction initiatives to further improve well level IRRs and NAV Significant oil within reservoir system, net unrisked resource potential of 277(3) MMBbls Oil Weighted Reserves among Meramec, Osage, Oswego and Hunton formations Excluding WEHLU, current proved reserves have grown 184%(4) over YE 2016 No Near Term Debt Post refinancing in March 2017, no debt maturities before 2022 Maturity With WEHLU sale proceeds, ample liquidity to execute current drilling plan Liquidity Operational control provides ability to manage timing and level of expenditures Significant hedges to mitigate downside pricing environment Strong Hedge Position 100%+ of oil and 94% of gas PDP volumes hedged for 2018 (1) Acreage and well counts developed by the Company based on assumptions and methodology described on page 3 of this presentation as of 1/19/18. (2) Calculated using prospective net acres as of 1/19/18 and based on assumptions generated by the Company. (3) EURs, related type curves and drilling locations are developed by the Company based on assumptions and methodologies described on page 3 of this presentation. (4) Based on 12/31/17 Wright and Company, Inc. reserve report utilizing SEC pricing. 7 2018 Gastar Exploration Inc.
Gastar Exploration Inc
April 2018

2018 Activity Economic Focus Plan to focus Utica Shale activity in the dry gas windows and SCOOP activity in the wet gas window of the play Allocation of capital split between two top-tier basins with dry gas and liquids inventory SCOOP Single Well Economics(1,2) Utica Single Well Economics(1,2) 100% 100% 91% 80% Current 79% 80% 74% Drilling Plan 73% 73% 71% 64% Current 68% 60% 57% 60% Drilling Plan 57% 55% IRRs % 51% 53% 48% 52% 43% 42% 40% 39% 40% 40% 37% 37% 31% 35% 31% 29% 28% 24% 28% 26% 27% 24% 21% 20% 20% 18% 22% 20% 20% 19% 12% 17% 12% 11% 10% 0% 0% Gas 2.50 / Oil 45.00 Gas 2.75 / Oil 50.00 Gas 3.00 / Oil 55.00 Gas 3.25 / Oil 60.00 Gas 2.50 / Oil 45.00 Gas 2.75 / Oil 50.00 Gas 3.00 / Oil 55.00 Gas 3.25 / Oil 60.00 Woodford Dry Gas Woodford Wet Gas Woodford Condensate Condensate West Condensate East Wet Gas Springer Gas / Condensate Springer Oil Dry Gas West Dry Gas Central Dry Gas East Woodford Woodford Woodford Springer Gas Springer Condensate Condensate Wet Dry Gas Dry Gas Dry Gas Dry Gas Wet Gas Condensate Condensate Oil West East Gas West Central East Gross Undeveloped Locations 444 642 350 238 300 Gross Undeveloped Locations(3) 129 73 114 181 441 259 Net Undeveloped Locations 84 230 30 82 64 Net Undeveloped Locations 97 54 86 135 331 194 1. Assumes ethane rejection. 2. Well economics are adjusted for transport fees and regional price differentials. 3. Assumes net undeveloped locations grossed up from 75% working interest. WWW.GULFPORTENERGY.COM 5
Gulfport Energy Corp.
March 2018

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