Texas American Resources, LLC

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1 Company Overview October 2013 Texas American Resources, LLC 401 Congress Avenue, Suite 1600 Austin, Texas Main: Fax:

2 2 Texas American Resources, LLC ( TAR ) is a privately held, oil-focused independent energy company headquartered in Austin, Texas. The Company was Founded in 1990 by President and CEO, David E. Honeycutt, and currently operates in South Texas and the Texas Panhandle. Successful track record of monetizing assets, most recent of note: $150 million sale of Colorado/Wyoming assets to Bill Barrett Corporation in In July 2012, closed on a $140 million equity commitment from Parallel Resource Partners which, combined with the Company s borrowing base revolver, provides TAR ample liquidity to grow. As we will show during this presentation, TAR has an attractive asset base with multiple oil prospective targets, and has enjoyed rapid production growth through technology driven organic development over the past 12 months. We operate 95% of our wells and are always willing to consider strategic acquisitions.

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4 4 Mid-Year 2013 Cawley, Gillespie & Associates ( CG&A ) prepared reserve report as of July 1, 2013 at NYMEX strip pricing Crude Oil (MBBLS) Natural Gas (MMCF) NGLs (MBBLS) Equivalent (MBOE) CapEx (M$) PV10% (M$) Proved Developed Producing 2,633 3, ,644 $0 $110,027 Proved Developed Non-Producing ,285 Proved Undeveloped 7,767 7, , , ,111 Total Proved 10,546 11,812 1,003 13,518 $203,282 $276,424 Probable 4,860 6, , ,215 57,173 Possible 26,613 39,864 2,751 36, , ,687 Total Probable/Possible 31,473 46,031 3,204 42, , ,860 3P Total 42,019 57,843 4,207 55,866 $1,145,761 $602,283

5 5 David E. Honeycutt President and Chief Executive Officer Over 28 years of Industry experience Julian Bott Chief Financial Officer Over 26 years of Industry experience Mr. Honeycutt is the original founder of Texas American Resources Company. He has extensive experience in the Anadarko, DJ, and East Texas Basins as well as the Texas Gulf Coast and South Texas. Over the years he has overseen acquisitions and divestitures totaling over $250 million. Mr. Bott previously served as CFO of 3dMD. He was also employed as Global Head of Energy and Project Finance at Toronto Dominion Bank, and as a Managing Director in the Energy Group of Bankers Trust Company. Mark Klingseisen Vice President - Business Development Troy Gieselman Vice President - Land Keith Curtis Vice President - Drilling & Completions Kirk Chatawanich Vice President - Geology Over 31 years of Industry experience Over 17 years of Industry experience Over 16 years of Industry experience Over 13 years of Industry experience Mr. Klingseisen is responsible for leading the Company's commercial activities in the area of acquisitions & divestitures and the marketing of crude oil & natural gas. He has held various executive positions with BP and Amoco in the U.S., Europe, Middle East, and China. Thomas Rut Jake Klein Alex Moore Heather Jank Manager - Operations Manager - Production (South Texas) Reservoir Engineer Controller Over 24 years of Industry experience Over 11 years of Industry experience Over 7 years of Industry experience Over 14 years of Industry experience Mr. Rut is responsible for production and operation activities across the Texas American operated asset base. Prior to TAR, Mr. Rut worked for major E&P companies BP, Oxy and Hess in both domestic and international assignments where he attained significant wellwork and field operational experience. Mr. Gieselman is responsible for all Land related functions of the Company, including acquisitions & divestitures. He was previously employed with John H. Young, Inc. and Equitable Production Company, where he was responsible for the land functions associated with producing assets and drilling programs in three states. Mr. Klein is responsible for the Production and Operations activities for Texas American. He manages existing producing assets in South and North Texas as well as field development for new plays. Prior to working at TAR he was in operations and production internationally for Schlumberger in Europe, South America, and Africa. Mr. Curtis is responsible for the drilling and completions activities for Texas American. He has constructed over 900 well bores on 4 different continents. He has worked for Schlumberger, Chesapeake, Stephens Inc., and the national oil companies of Malaysia and Saudi Arabia. Mr. Moore is responsible for the company's reserve report and project economic evaluations. He was previously employed with Chevron, where he served as a reserves estimator. He has held various reservoir and production engineering positions with Chevron and Cimarex Energy. Ms. Jank is responsible for the accounting and financial reporting functions for Texas American. Prior to joining TAR, Ms. Jank was employed with Kosmos Energy as an Assistant Controller. Average of 18+ years experience with marquee oil and gas industry names Mr. Chatawanich was previously employed with Encana Oil and Gas (USA), where he established their Haynesville Shale geologic development program. Prior to EnCana, he worked at Quicksilver Resources, Inc., where he established their Barnett Shale geologic development program.

6 6 The Company will continue to expand and accelerate development in its existing Panhandle and South Texas assets: 3 Rigs in operation: 1 rig for existing South Texas assets 2 rigs for existing Panhandle assets Texas Panhandle Strategy: Focus on de-risking horizontal oil play in the Marmaton Limestone Continue to increase acreage position in the Marmaton play Begin exploiting other geological targets, i.e. Kansas City, Cherokee, Atoka Expanded to a 2 rig drilling program in August 2013 South Texas Strategy: Selectively drill the best Austin Chalk locations in the near-term Continue enhancements to Big Wells Unit Further in-fill Eagle Ford development Monitor Pearsall well activity Monitor the Buda and opportunistically expand Supplement existing acreage position with strategic bolt-on acquisitions (Austin Chalk/Eagle Ford) Expanding to a 2 rig drilling program in late Fall 2013 Seek opportunistic acquisitions in our existing core areas

7 South Texas Assets Located in Dimmitt, Frio, La Salle, and Zavala Counties Lease net acres 56,424 (Acreage contains various formational depths) Big Wells Area TAR net acres 22,480 Austin Chalk Formation TAR net acres 36,722 TX Panhandle Assets Located in Hansford and Ochiltree Counties Lease net acres 26,340 Marmaton Rights TAR net acres 24,354 Eagle Ford Formation TAR net acres 11,827 Buda Formation TAR net acres 9,510 Pearsall Formation TAR net acres 9,926 6,000 5,000 4,000 3,000 2,000 1,000 3,422 Lease Expiration by Quarter 6,317 1,689 1, ,000 3,000 2,000 1, Lease Expiration by Quarter 3,734 2,430 2,280 1, Q2 / 14 Q3 / 14 Q1 / 15 Q3 / 15 Q2 / 16 Q3 / 16 0 Q4 / 13 Q4 / 14 Q1 / 15 Q2 / 15 Q3 / 15 Q4 / 15 Q1 / 16 Q2 / 16 Texas American Resources, LLC 7

8 8 In the last 12 months, TAR has increased its gross daily oil rate from ~2,000 BOPD to ~4,700 BOPD

9 9 Texas American Resources received a $140 million equity commitment from Parallel Resource Partners The Company has significant available capital for acquisition/development with $95 million remaining committed equity capital and additional borrowing base capacity Drawn as of Sep-13 Revolving Credit Facility (1) $ 51,421 Equity (2) $ 45,000 Total $ 96,421 (US$ in thousands) (1) Borrowing Base: $85 million (2) Equity commitment of $140 million (US$ in Millions)

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11 11 Kansas City Cleveland Marmaton Formational Overlap Hunton Atoka TAR Acreage 4+ Formations Potential 3+ Formations Potential 2+ Formations Potential

12 12 San Miguel Austin Eagle Ford Buda Pearsall

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15 FINANCIALS YTD AS OF AUGUST 31, 2013 ($M) REVENUES 2013 Actual $48,375 YTD Trend 2013 Budget $36, % YE 2012 Actuals $32,632 Variance YE 2013 Forecast $77, % EBITDAX 2013 Actual $33,079 YTD Trend 2013 Budget $22, % YE 2012 Actuals $15,492 Variance YE 2013 Forecast $54, % CAPEX 2013 Actual $55,594 YTD Trend 2013 Budget $59, % YE 2012 Actuals $43,096 Variance YE 2013 Forecast $100, %

16 16 $150 million of estimated capital expenditures for wells drilled and completed in South Texas 24 wells drilled and completed in the TX Panhandle We control timing and amount of CAPEX as operator (US$ in Millions) Strong EBITDAX growth expected as a result of the Company s drilling program

17 17 TAR believes in mitigating price risk and is currently hedged through 2016 with strong emphasis through 2014 Focus is oil hedging consistent with our asset portfolio. Gas is not significant to the Company s performance. Counterparties utilized: BP & Cargill Crude Oil Hedges: TAR Hedging Program % of PDP Avg. Swap Price % $ % $ % $ % $88.30 Natural Gas Hedges: % $ % $ % $ % $4.45

18 18 The Company has a strong portfolio of oil assets Continuing to build and de-risk Focused on optimizing operations Results have been good, with expectation for continued performance Need to start thinking about liquidity event

Corporate Presentation August 19, 2015

Corporate Presentation August 19, 2015 Safe Harbor Disclosure Please carefully read the following disclaimer: The information discussed in this Presentation includes forward-looking statements within the