Central Basin Platform Opportunity...Four Corners Petroleum II, LLC October 2020 Robust Prod. & Cash Flow(1) 2.1 MBoed | $12.4MM NTM CF Note: All values, including cash flow, reserves,

Detring Energy Advisors

GrossAsset Well Reserves Net Reserves NPV ($MM)Class Count (MMBoe) MMBoe % Liq. PV0 PV10

Op. WI 36 6.5 4.3 82% $75.9 $45.2Non-Op. WI 2 2.4 0.4 75% 3.9 2.3Royalties NA NA 0.3 80% 7.3 3.9Total 38 8.9 5.0 82% $87.2 $51.4

87%

7% 6%

Op. WI

Non-Op

Royalties

Working Interest Package:

– 38 PDP wells– $11.5MM NTM PDP cash flow– PV10 and reserves of $47MM and

4.7 MMboe, respectively (PDP) Royalties Package:

– 36 PDP wells (FCP op. only)– $0.9MM NTM PDP cash flow– PV10 and reserves of $4MM and

275 Mboe, respectively (PDP)Net WI WI

Category Vt Hz Royalties TotalProd. (Boed) 1,844 153 113 2,111Reserves (Mboe) 4,316 367 275 4,958PV10 ($MM) $45 $2 $4 $51NTM CF ($MM) $11 $1 $1 $12

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Winkler

Ward

Location Map | Winkler & Ward Counties, Texas

De-risked Development15 Vertical Locations

Northern Development

– 7 remaining PUD locations– 25%+ IRR at $50/$2.50 flat pricing

Southern Development

– 8 remaining PUD locations– 15%+ IRR at $50/$2.50 flat pricing

All PUDs offset by current PDP wells

D&C: $2.0MM – $2.2MM

Four Corners Petroleum II, LLC (“Four Corners” or “FCP”) has retained Detring Energy Advisors to market for sale certain of its oil and gas leasehold, royalty and related assets located in Ward and Winkler Counties, TX in two

sub-packages: 1) Working Interest and 2) Royalties. The assets offer an attractive opportunity to acquire (i) durable, high-margin cash flow due to efficient operations and advantaged marketing agreements; (ii) a

differentiated investment portfolio that strikes an optimal balance between concentration risk and operational scope; and (iii) a turn-key operational platform to serve as a base for additional development expansion.

Central Basin Platform OpportunityFour Corners Petroleum II, LLC

October 2020

Robust Prod. & Cash Flow(1)

2.1 MBoed | $12.4MM NTM CF

Note: All values, including cash flow, reserves, PV10, and IRR’s, are based on an effective date of 10/1/2020 and five-year NYMEX strip as of 10/23/2020. 1. Producing wells only.

~14,000 Net Acres100% WI | 100% HBP

Leases are not subject to CDO, Pugh clauses, or acreage retention provisions

Depths primarily from the base of the Queen to the top of the Barnett

Non-op Hz. wells are wellbore only

Legend

FCP AcreageHz. WellsVt. PUDSVt. PDP

LTM Gross Oil Prod. (Bbl/Well)

< 10,00010,000 – 25,00025,000 – 50,000> 50,000

Northern Development

Southern Development

5.0MMBoe

Locator Map

PDP Reserves Summary

Optimal Land Position for Operations: Large, Contiguous,

100% WI, and 100% HBP.Footprint ensures maximum operational and development

flexibility

88%

4%8%

$51MMPV10 59%

18%

23%Oil

Gas

NGL

5.0MMBoe

Detring Energy Advisors

Four Corners has completed extensive geologic analysis of the property and focused on the key subsurface drivers that define success within this Pennsylvanian play. In addition to the successful drilling program their

efforts have identified 15 PUD locations and 56 PDNP opportunities.

October 2020

Central Basin Platform OpportunityFour Corners Petroleum II, LLC

Pennsylvanian PhiH Map(Cisco, Canyon, & Strawn)

Cisco

Canyon

Strawn

Atoka

Stacked Pennsylvanian PayTypewell

GR Density

42475374320000

DPHIResD

Four Corners’ utilized seismic surveys, core, and petrophysical analysis to determine the optimal location for stacked Pennsylvanian pay. Their analysis concluded this area was predominantly deposited in a middle-ramp

setting, where high-energy seas enhance porosity and reservoir facies.

Additional 1.5 MMBO reserves upside from

pre-scoped waterflood

Local core data confirms high-quality reservoirs

Middle Ramp

Outer Ramp

Basin

Inner Ramp

Ideal Depositional Position

8’

6’

4’

2’

0’

PhiH10’+

Four Corner’s Position

1 Mile

Four Corners PositionFCP EOR AreaAnalog WaterfloodFCP PUDsFCP PDPs

Legend

N

Detring Energy Advisors

S M T W T F S S M T W T F S

1 2 3 4 5 6 7 1 2 3 4 58 9 10 11 12 13 14 6 7 8 9 10 11 1215 16 17 18 19 20 21 13 14 15 16 17 18 1922 23 24 25 26 27 28 20 21 22 23 24 25 2629 30 27 28 29 30 31

November 2020 December 2020

Derek Detring Melinda Faust Matt Loewenstein Richard BallPresident Managing Director Director Director, Geology(713) 595-1001 (713) 595-1004 (713) 595-1003 (713) [email protected] [email protected] [email protected] [email protected]

Jonathan Bristal Tony Fazio Paul NgoSenior Associate Senior Associate Associate(713) 595-1010 (713) 595-1014 (713) [email protected] [email protected] [email protected]

Bryan Bottoms Payne Winter Mohammad AbbasAnalyst, Geology Analyst Analyst(713) 595-1007 (713) 595-1011 (713) [email protected] [email protected] [email protected]

Key Process Contact

This Information Flyer is based on material provided by Four Corners Petroleum II, LLC and its affiliates (“Seller”) and is offered to interested parties for the sole purpose of providing an overviewof an opportunity to acquire certain of the Seller's assets (the "Transaction"). This Information Flyer is delivered on behalf of Seller by Detring & Associates, LLC ("Advisor"). The informationcontained in this Information Flyer ("Information") is for informational purposes only and does not constitute an obligation by Seller to enter into any future transaction. The Information should notbe relied upon by the recipient in considering the Transaction, and the recipient should consider its own financial situation when evaluating the Transaction. This Information Flyer does notconstitute investment, legal, financial, tax, accounting or other counsel of any kind, and the recipient should conduct its own independent examination and assessment of the Information,including obtaining investment, legal, tax, accounting and such other counsel as it considers suitable. Seller may change or otherwise modify the transaction process at any time without notice tothe recipient, including but not limited to accepting any proposal at any point in time, altering the dates of the process, or terminating the process completely without defining any reason andwithout any liability to any interested party. Advisor and its directors, employees, consultants and agents ("Group") make no representation or warranty as to the accuracy, completeness,timeliness or reliability of the contents of this Information Flyer or any Information provided during the course of the Transaction process. The Information has been prepared on the basis ofpublicly accessible information and material made available to Advisor by Seller. Advisor has relied upon and assumed, without independent verification, the accuracy or completeness of all suchinformation, which does not claim to be all-inclusive or to contain all of the information that may be relevant to the Transaction. The recipient acknowledges that conditions may change and thatthe Information may become out-of-date as a result. Advisor is under no obligation to update or correct this Information. Seller and Advisor are under no obligation to provide the recipient withaccess to any further information. Seller and Group shall have no liability for any representations (expressed or implied) other than, in the case of Seller, those given by Seller in the purchase andsale agreement, for any written or oral communications with any Interested Parties in the course of their review of the Transaction, or for any implied terms or obligations arising from operation oflaw or otherwise. To the maximum extent permitted by law, no member of the Group accepts any liability (including, without limitation, any liability arising from fault or negligence on the part ofany of them) for any loss whatsoever arising from the use of this Information Flyer or its contents or otherwise arising in connection with it or from the use of any Information provided throughoutthe course of the Transaction procedure. Certain statements contained herein may constitute forward-looking statements which involve risks and uncertainties that could cause actual events orresults to differ materially from the projected or expected events or results implied or conveyed in such forward-looking statements. In particular, statements regarding oil and gas reserves mayinclude the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions. No constituent of the Group represents orwarrants that such forward-looking statements will be achieved or will prove to be correct. Actual future results and operations could vary materially from the forward-looking statements. Similarly,no representation or warranty is made that the assumptions on which the forward-looking statements are based may be reasonable. No audit, review or verification has been undertaken by theGroup or an independent third party of the assumptions, data, results, calculations and forecasts presented or referred to herein. The recipient acknowledges that neither it nor Advisor intendsthat Advisor acts or be responsible as a fiduciary to the recipient, its management, stockholders, creditors or any other person. Each of the recipient and Advisor, by accepting and providing thisInformation Flyer respectively, expressly disclaims any fiduciary relationship and agrees that the recipient is responsible for making its own independent judgments with respect to any transactionand any other matters regarding this Information Flyer. Subsequent modifications may be provided as required.

Please contact Melinda Faust or Tony Fazio to request a confidentiality agreement or to learn more about this opportunity. Please route all communications through Detring and do not contact Four Corners directly.

Process Calendar

Four Corners anticipates PSA execution and closing by mid-January and late February 2021, respectively. Bids will be requested by package with preference given to offers for the combined position.

October 2020

VDR Opens

Evaluation

Bids Due

Detring Energy Advisors | Contact Information

Central Basin Platform OpportunityFour Corners Petroleum II, LLC

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