EFTA01357805

13 January 2016 WY Corporate Credit Energy [Figure 46: Industry Relative Value Realization & Costs par Mete *arveriatn Energy Penman 511.04 51.79 5146 53 51 1.3.76 NA NA NA MA Moro Rascurces $6.10 $1.10 $OSO 51 .27 11.63 10.91 10.43 $3.53 8.32 Bonanza Creek 511.24 5244 51.40 54 17 13,21 53.49 3367 35.22 2.11 Olesapeake Energy 54.63 $042 1021 SI 73 $1.67 $2.45 $1.77 13.77 1.66 enlaces Energy $7.53 $213 30.30 $2 58 $2.52 $2.67 $2.64 $5.20 194 concho Resources 811.71 5224 10.84 $4.05 $4.04 $152 $3.21 57.26 226 Century Resources 114.53 $5.66 $0.99 $3.58 14.30 52.67 $3.03 $10.42 2.48 Darnond Back Energy 511.98 $1.97 $0.49 14.06 $6.46 $4.23 $2.75 $7.11 5.12 EP Energy 510,05 $1.56 $0.74 24.04 53.69 $1.64 $1.53 55.57 3.49 Exco Restores, Mc. $4.14 $1.42 $0.44 $1.911 $0.93 $4.22 34.27 3431 0.44 Forest Os 56.45 5202 5060 12.17 51.49 54.10 53.54 59.01 0.26 leakon Resources $12.78 $3.12 $1.30 ss.ar $2.45 $7.37 $545 $11.69 1.1$ linccro Energy $6.63 $338 $034 $2.72 $2.19 $1.96 1215 $6.12 237 Magnum Numar Rersourcee $7.90 $3.09 $1413 $3.96 (0.641 $10.27 $14.56 $1640 (0.02) Plabtaies Pet:roe:um $6.69 $1.60 $0.65 $4.15 12.49 13.37 13.92 $7.51 1.11 Hai eld 146446on $7.97 $213 $0.80 nil $1.94 33.0 13.41 8725 1.41 Oaet Petroewo $13.69 $3.29 30.91 $4.06 55.43 53.33 12.62 58.92 3.07 Parsley Energy $9.65 $1.90 $1.26 1277 13.90 $1.90 $1.72 $4.19 2.96 Penn vogn.a 110.92 $1 75 SI 59 18 01 $1.57 16.23 56.41 $13.12 0.72 OEP Resources 17.36 $227 $0.57 0.03 11.46 12.76 12.36 $6.15 192 Range Reso.:ces $4.41 $1.23 10.50 $1.32 $1.37 $0.54 $0.71 52.95 3.37 Rotate Resources 17.33 $1.193 $0.62 $2.89 $122 $1.85 $1.35 5447 3.05 Samson 0.55 21.47 $0.63 $2.53 10.72 33.60 $3.62 $6.35 (0.331 SondRiciss Fre* 18.0 12.08 10.71 $2.63 $3.06 12.07 11.98 57.16 242 SM Energy 57.57 $2.22 0.51 12 33 12.51 51.95 51.76 54.90 2.45 Sanchez Energy $10.38 $o_la $1.12 $5.01 $1.95 $1.19 $3.51 $12.40 142 Two. 00 $15.37 $3.20 31.29 $361 $7.09 $7.95 15 .95 $13.14 0.96 Triangle Pearcievm $12.27 $2.43 $0.75 54.11 $4 98 $2 9 $2.5 $7.3 $3.8 WPX EntegY $5.42 $1.13 $068 $203 SI 55 $339 $2 73 35 48 0.86 Mn 14 41 30 92 SO 21 II 27 '50 64 $O .54 5043 52 95 .1033 Max 31337 $5 60 SI AI $0 Or 57 04 410 29 $4 NJ SI 8 00 36 32 Mean 39 Oa 12.20 046 13.79 $7.13 $3 13.00 11.51 12.08 Modal 18.83 $208 $0.15 13.11 $2..45 $3.3S 12 . / I 1/.1.s $2.04 American Energy Neiman $984 $1.75 30.56 $2.75 $4.54 NA NA NA NM Mao Rescurces 54.77 $1.57 10.45 $1.25 $1.50 93.91 10.43 13.23 6.03 Bonanza Creek $407 $2.12 $1.34 $3.96 $1.25 $3.49 $3.37 $7.77 1.40 Osessoerake Energy $3.92 $0.65 $0.21 $1.71 $1.10 $2.46 $1.77 $1.63 1.57 Omatm Energy $5.15 5211 50.29 $255 110.20 $2.67 $2.64 $5.16 1.07 Caren ROSOLOCOS $4.67 $1.94 $0.80 14.17 $1.94 $3.52 $321 9184 1.59 Dentury Resources $11.40 $5.01 $0.94 $3.58 $1.417 $2.67 $3.03 $9.74 1.61 Osmond Sack Energy 19.28 $1.86 $0.44 $4.10 0.05 $4.23 1275 $4.47 1.75 EP Energy $948 $1.34 $0.74 $4.04 $3.37 $1.64 $1.53 $586 3.22 Exco Resources Mc $4.52 $1.59 10,53 $1.91 50.0 $4.22 1627 57.14 0.24 Forest 00 $5.0 $1.41 $0.52 $2.30 $1.37 14.10 tau 57.54 0.61 Haan Resources $10.79 $2.49 $1.26 56.00 $1.01 17.37 $5.95 $11.46 0.66 Haan Energy $7.65 $3.65 $0.35 12.97 50.68 11.96 $215 56.29 1.49 Martin Hunter Rescreces $4 54 5214 $1.16 $4.60 ($3.36) $10.27 $14.56 $15131 (0.00/ Mantates Petramml ST 09 $1.40 10.55 0.33 50.81 13.37 $3.93 57 35 0.61 newleld Ea/lentos $6.61 $1.82 $060 $3.29 50.70 sa.ao 13.41 $6.80 1.10 Oast Peuoetm $1062 5255 $1.24 $3.90 $3.12 $3.33 $2.63 56.49 1.23 Paisley Energy $7.73 51.67 $1.15 12.85 52.07 $1.90 $1.72 $5.50 2.37 Penn Wore $9.95 $1.42 $1.30 $8.07 $1.15 14.23 0.41 $1216 0.96 OEP Resources $6.17 5210 5057 $21.16 10.32 $2.78 12-38 55.86 1.29 Range Resa./ces 13 94 51.24 $0.52 $1.32 $0.85 50.84 $0.71 5290 2.83 Rosetta Rescurcas 15 93 $1.51 0.71 12.0 $0.82 sus visa $4.36 1.96 Samson $454 $1.33 10.79 $2.57 110.161 13.80 $3.62 5825 0.52 Sand 4624 Energy 54.62 $200 $0.70 $2.67 $1.45 $2.67 $1.0 56.0 1.16 SM Energy $0.07 $230 $045 $3.30 1$0.06) $1.95 $1.76 $507 1.54 Sanchez Energy 17.01 $202 10.50 $4.75 04.26) $7.19 13.61 $1136 0.86 %tom 00 112,57 $3.25 $1.17 13.81 $4.34 17.95 1445 $1321 0.79 Triangle Paroleum $10.11 51.99 10.75 5005 $3.32 1212 $2.52 5701 274 WPX Entegy $509 $1.16 $0.66 $2.03 $1.22 $3.39 $2.76 55.44 0.70 Men 399 099 027 13s 0 470 039 049 299 (0940 Mar 1764 509 145 609 469 1034 1469 IS 49 607 Mean 7,44 204 0.74 3.34 1.34 3.04 154 7.44 1.64 Medlin 7.0 tilt 074 3.34 1.24 3.44 2.84 4.74 1.34 Scow Canon Sings W Dourscs• Sant Enna 51cortreng lvanc• CP Foe rho teonmgcomovere roe nue/tote Oft Aso Hob, me torearsrs ayes mfear•bonergaossnae MOMS 014 4.3EFfItAINKEICX0NIACEFSLISCIIIONSMPO.045939155ROSESAISEWSPES347FLIVIWan% WPX NOV Trae4eperaltinve Ayes are tune bew..8199 Armen 30 V rare stave*, par Page 50 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0044593 CONFIDENTIAL SDNY_GM_00190777 EFTA01357805