positioned for GROWTH Company Presentation Pritchard Energize 2012 Conference
Crimson Overview Geographic Focus Area CO Key Information Exchange/Ticker: NasdaqGM:CXPO Share Price(1): 2.86/share East Texas 52-week Range(1): 2.00 - 4.73 TX TX Southeast Market Capitalization: 129 million Texas…
Investment Highlights Strategy Crimson is transitioning towards a liquids weighted production profile; 50/50 by mid 2012 Focused on developing the following resources, while staying within cash flow: STX Eagle Ford 8,160 net acres…
Transitioning to a Balanced Oil / Gas Profile 2010 2011 production increased by 40% as Crimson ramped its operations following the downturn in 2009 Production Flat production in 2012 expected as Crimson shifts away from higher rate…
2011 & 2012 Capital Budget Goals: Improve oil/gas production mix to 50/50 by mid-2012 Monitor Niobrara and James Lime Industry Activity 2011E Capital Expenditures 84.8mm 2012E Capital Expenditures 73.9mm Area Gross/Net CAPEX MM…
Track Record of Reserve Growth 184.2 166.5 21% 19% 97.5 28% 81% 79% 72% Note: 2009 2010 reserves at SEC pricing per NSAI. 2011E per Company estimates. See Forward Looking Statements located on slide 2. Crude Oil…
Reserve Summary 1P Reserves by Category Unproved Potential by Area (1) Based on 12/31/2010 SEC pricing. PV-10 value includes hedging effects. See Hydrocarbon Quantities & Drilling Locations. (2) Reflects mostly oil potential…
Eagle Ford Overview High impact oil opportunity in developing Eagle Ford Shale Crimson (100% WI) Zavala/Dimmit Co. (6,550 net acres) Glasscock A 1 Karnes Co. (1,050 net acres) Crimson (50% WI) Crimson (53% WI) Drilling KM Ranch 1H…
Eagle Ford Karnes County Karnes County EOG Estes Unit Eagle Ford Type Log EOG Lyssy Unit EOG Horse Thief Unit EOG Orr Unit Top Eagle Ford Crimson (100% WI) Glasscock Lease 2012 Locations EOG Whiteside Unit EOG Joseph…
Eagle Ford Zavala/Dimmit County Graham 1 Winterbotham Top TRANSITION EAGLE FORD CHK Traylor 2H HK ZAVALA FRIO Top EAGLE FORD 34 MBO 4 mos MAVERICK CHK GDP Crimson NFX CHK KM 1H COG Top BUDA CHK GDP NFX CHK Crimson…
Eagle Ford Bee County Conoco Phillips Crimson (20% WI) Windham 1H Pioneer Crimson (20% WI) Born 1H Crimson (20% WI) 2012 Locations Live Oak BEE positioned for GROWTH (NASDAQ:CXPO) 12
Woodbine Formation Madison County High impact oil re-development opportunity using horizontal and multi-stage frac technology Industry has drilled over 100 Industry Horizontal -8500 horizontal Woodbine wells in the Woodbine Activity…
Haynesville/Mid-Bossier High impact gas opportunity Superior Mid-Bossier performance Multi-year inventory for reserve growth Approx. 5,340 net acres (69% HBP) 225 unproved drilling locations - 490 Bcf net potential Multiple…
Haynesville/Mid-Bossier Shale: Hedge on Gas Price Significant PV-10 upside with price improvement positioned for GROWTH (NASDAQ:CXPO) 15
James Lime Liquids Play Crimson Blue 1 Crimsons Exposure: Eagle Halbert 1 San Augustine Co, Texas San Augustine Co, Texas 5,340 Net Acres (7,365 Gross) Avg WI% = 46% (35% NRI) 52 Gross Locations on 160 Ac James Lime James Lime…
Niobrara Play DJ Basin 12, 8 93 12, 7 00 12, 53 2 EO G 12, 184 FO X CRE EK 02- 25H 12, 93 1 6 12N 58W 6 12N 57W 1 1, 659 L ON EO G EG OH GO RN B LO NG3-H36H EO G LO NG HO RN B 5- 36H 6 12N 62W PETE WA LS…
NAV Estimate Category High Comments Proved Developed Reserves(1) 5.25 PV-10 at NYMEX strip pricing Risked 85% of PV-10 at NYMEX Proved Undeveloped Reserves(1) 1.77 strip pricing Less: Net Debt (4.07) Total net debt of 184 MM(1)…
Investment Highlights Attractive asset base 166.5 Bcfe of proved reserves(1) 5x unproved reserve potential Operational control 80% Near term catalysts Eagle Ford Horizontal Woodbine/Georgetown Haynesville/Mid-Bossier/James…
Appendix positioned for GROWTH (NASDAQ:CXPO) 20
Conservative Financial Policy Maintain Financial Flexibility 100 million borrowing base Utilize cash flow from conventional assets to fund growth in low risk resource plays Generally fund capex through cash flow (1H 2011 exception -…
Balance Sheet positioned for GROWTH (NASDAQ:CXPO) 22
Income Statement positioned for GROWTH (NASDAQ:CXPO) 23
Strong Hedge Position positioned for GROWTH (NASDAQ:CXPO) 24
Experienced Senior Management Team Current Position and Past Experience President, Chief Executive Officer and Director (since 2005) Allan D. Keel VP / GM, Westport Resources President / COO, Mariner Energy & Woodside Energy…
positioned for GROWTH Company Presentation Pritchard Energize 2012 Conference
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