EFTA01357818

Deutsche Bank Securities Inc. MI --• Figure 72: Commodity Price Scenario Analysis Halcon Resources Forecast Metrics < FY 15E EBITDA (5 Million) FY 151 FCF l5 Mahon] O -c si n C— 2C 7108.17G.77,547sr ‘2 1115 $125 12.4 51.25 16.5 5425 1475 1175 51 .25 $7.15 $135 LIM an 14.15 ci; 1.40 5503 $503 $97.3 $503 1503 5505 1507 $10.0 1110 410 1$101 4101 4411 (59) 1111 rs.) 14410 3617 107 5417 SrSt7 Sell 3619 1521 2440 55 $5 35 15 15 16 91 51110 $041 SW NMI 1441 $60 150 5645 $40.0 520 520 520 $20 $20 521 523 2 (P 5600 1665 1106 5666 WS 5665 5667 1669 IMO 135 536 535 535 135 136 538 61. $7110 1689 1660 1459 5649 5589 1491 MO 5110 150 150 150 550 150 551 153 1620 1713 5713 5713 5713 1713 1714 5717 140.0 $85 $46 1716 145 5435 $46 la 5950 $762 SOP 5742 $112 3762 5704 1700 /MO 194 $171 110 591 ISO 390 3101 FY 16E ESITDA(S FY 16E FCF (S Mil lion) 4/4117. On rVeor7) 51 75 5775 TO 5325 SIM $42$ 14776 5175 11.75 52.75 11.5 535 an 11 11 5300 $457 $40) $413 $404 $455 $471 1475 5300 4250) 112406 4N 73 152451 4243) 11240) Mal) 14410 1511 5514 5516 $679 1522 5525 15213 $40.0 15200 Mr) (12coi 1519.1 (ion) 11194) (WO) 5500 $565 5547 $570 $573 3576 1579 1512 $511.0 41571 11155/ 111531 11151) (MO) 11147) 4144) 0 1600 1618 1421 5424 9127 5630 3633 $(05 11400 4110) 111841 111071 4105) 4103) rim) 15 1740 $072 51175 5676 5040 5683 111114 1649 $70.0 i$04) (1M) MO) Mel ISM 454) ($511 5900 $/26 1729 5731 5734 5737 $741 $743 510.0 non (Mt CM) Mo 491 On (341 1900 3'82 5745 Stt4 5791 5793 $715 1713 50 am 141 543 544 514 140 MO FY TSE Net Levtriatr FT 1SE DebtlPrev5 Reserves ($lMcfe) NYMEX Gas 15(mere) NYMEX Gas Itmerol 11.71 5225 524 5125 5175 5425 44.75 51.75 51.25 $2.75 13.25 5175 5516 15. 76 $300 637 617 637 634 64 634 6.27 DOD 54• 546 546 545 5413 146 546 5440 607 s0 60 607 601 130. 6.07 540.0 14 5 545 545 $45 545 545 545 55010 Saa 54 524 54 sto 674 $77 550.0 14 5 545 545 546 545 $45 545 $640 557 55. 557 617 554 5.57 5.47 50 14 5 545 $45 145 545 545 545 1700 53« 537 Si tic 639 Si Si 570.0 545 145 145 345 355 115 145 $900 51. 51a 517 LI/ 6.17 5.4 53a 50 14 5 545 545 145 $46 145 545 5950 4 77 474 474 4.74 4.74 4h 476 4200 IA 4 544 544 f44 544 14 4 344 FY 16E Het Lever.ege FY (6E De0tProve0 Reserves 11 Mc re) NYMEx On (318171e) NYMEX Oer itorne(e) 51 75 525 57.5 13.25 55.5 14.25 1175 11 15 31.23 1215 9.5 1115 11.15 14.73 5300 677 67. 64 11677 65. 441 Ate 530 .0 549 549 149 3.9 149 14 9 24 9 5400 777 767 747 47 4 7 57 74 747 540.0 14 4 $44 $44 548 $44 144 544 5500 664 08« 1184 6h eh 67. C.* 550.0 47 47 14.7 147 547 147 54.1 $600 626 6 17 elx e 17 1307 CM ea 1400 47 47 $47 4.7 547 47 146 1100 Si 55. Si Si 654 541 St 5700 40 244 546 546 546 146 546 $990 51. SO SI 50 SO SO 4% MO 145 45 545 546 545 145 545 1900 467 44 467 • 58 44 44 4.4 910.0 44 44 $44 544 144 144 344 Satre 0~1E~ Sant CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0044628 SDNY_GM_00190812 EFTA01357818