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Emerald Oil Inc | Delaware Basin Acreage Acquisition Presentation | McAndrew Rudisill | Page 6 of 11 | November 21, 2024

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6 §? ? Acquiring 12,900 gross (10,746 net) acres - ? 100% operated, 80% WI, 80% NRI - ? Purchase price: ~$75 million @ ~$7,000 / acre - ? AcquisiAon internally sourced - ? Expected close on or before 5/31/2015 §? ? Diversi?es EOX’s asset base from Bakken to Delaware - ? Provides EOX an entry into the Delaware Basin with what we believe includes ample drilling inventory §? ? We believe that Delaware economics achieved by o?set operators support near term development - ? Well delineated o?set acreage with established results and compeAAve breakeven economics at low commodity prices - ? One rig will drill 24 gross wells over the next 18--24 months (1) §? ? We believe the Target Assets include more than 400 (2) potenAal locaAons - ? MulA--stacked, oil weighted pay which we believe is prospecAve for Avalon, 1 st , 2 nd , 3 rd Bone Spring and Wolfcamp (X/Y, A--D) - ? 154 2 nd & 3 rd Bone Spring drilling locaAons - ? We believe the Avalon, 1 st Bone Spring and Wolfcamp formaAons provide addiAonal upside based on data reported from o?set operators §? ? Ready access to midstream and transportaAon infrastructure Delaware Basin Acquisi,on Overview Leasehold Posi,on – Delaware Basin Acquisi,on Overview (1) Based on our projected D&C budget for the Target Assets. (2) Internal es,mates which are based on horizontal development employing lateral drilling lengths of 5,000 feet and 160 acre spacing for Avalon, 1 st , 2 nd and 3 rd Bone Spring and Upper Wolfcamp and 320 acre spacing for Middle and Lower Wolfcamp