Common use of Reserve Report Data Clause in Contracts

Reserve Report Data. The oil and gas reserve estimates of the oil and natural gas properties to be acquired pursuant to the Contribution Agreement by the Company contained in the Registration Statement and included in the Preliminary Prospectus, the Prospectus and the Time of Sale Prospectus have been prepared by independent reserve engineers in accordance with Commission guidelines applied on a consistent basis throughout the periods involved, and the Company has no reason to believe that immediately after the time of the First Closing Date such estimates do not fairly reflect the oil and gas reserves of the Company as of the dates indicated. Other than production of the reserves in the ordinary course of business, intervening product price fluctuations and as described in the Registration Statement, the Preliminary Prospectus, the Prospectus and the Time of Sale Prospectus, the Company is not aware of any facts or circumstances that would cause a Material Adverse Change in the reserves or the present value of future net cash flows therefrom as described in the Registration Statement, the Preliminary Prospectus, the Prospectus and the Time of Sale Prospectus.

Reserve Report Data. The oil and gas reserve estimates of the oil and natural gas properties to be acquired pursuant to the Contribution Agreement Company included or incorporated by the Company contained reference in the Registration Statement and included in the Preliminary ProspectusStatement, the Prospectus and the Time of Sale Prospectus Pricing Disclosure Package are derived from reports that have been prepared by independent reserve engineers either (a) DeGoyler and XxxXxxxxxxx or (b) Xxxxxxxxxx & Co., Inc. as set forth and to the extent indicated therein, and have been prepared in accordance with Commission guidelines applied on a consistent basis throughout the periods involvedin all material respects, and the Company has no reason to believe that immediately after the time of the First Closing Date such estimates do not fairly reflect reflect, in all material respects, the oil and gas reserves of the Company as of the dates indicatedindicated therein. Other than production of the reserves in the ordinary course of business, intervening product price fluctuations, fluctuations in demand for such products, adverse weather conditions, unavailability or increased costs of rigs, services, supplies or personnel, the timing of third party operations and other facts, in each case in the ordinary course of business, and as described in the Registration Statement, the Preliminary Prospectus, the Prospectus and the Time of Sale ProspectusPricing Disclosure Package, the Company is not aware of any facts or circumstances that would cause a Material Adverse Change Effect in the reserves or the present value of future net cash flows therefrom as described in the Registration Statement, the Preliminary Prospectus, the Prospectus and the Time of Sale ProspectusPricing Disclosure Package.