ENERGY SPECTRUM ADVISORS INC.

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1 ENERGY SPECTRUM ADVISORS INC. Executive Summary Rosewood Resources, Inc. Sale of Mississippian Properties May 2012 EN ERGY SPECT RU M ADVISO RS IN C.

2 Executive Summary Transaction Overview Rosewood Resources, Inc. ("Rosewood"), a privately held oil and gas company based in Dallas, Texas, is offering for sale certain Mississippian rights in northwestern Kansas and northeastern Colorado (the "Properties"). Rosewood has engaged Energy Spectrum Advisors Inc. ("ESA") as its exclusive financial advisor in connection with the sale of the Properties. Vast leasehold position consisting of 90,496 gross / 79,460 net acres in Cheyenne, Rawlins, Sheridan, Sherman, and Thomas Counties, Kansas and Yuma County, Colorado 43,118 gross / 39,553 net acres (~50% of the total net acres) are currently HBP by shallow Niobrara gas production Counties with Rosewood leasehold This production is not included in the sale Rosewood will be conveying all rights below the base of the Niobrara across the entire position, including the Mississippian and Morrow formations The Company will grant a license to use its 3-D seismic data covering approximately 73% of the leasehold CO KS OK Same reservoir members as in the Mississippian Core Rosewood delivering operations and a weighted average 96% WI / 76% NRI (80% NRI / WI) SandRidge s Current Mississippian Outline Estimated Mississippian thickness up to 450 in this area Majority of acreage is included in recent Mississippian fairway maps published by SandRidge Energy, a leader in the play with more than one million acres under lease Mississippian play has begun to trend towards northwestern Kansas with SandRidge announcing plans to drill 50 wells in this area of the play during 2012 Sufficient infrastructure and facilities in place for full field development

Rosewood has engaged Energy Spectrum Advisors Inc. ("ESA") as its exclusive financial advisor in connection with the sale of the Properties.

3 Location Map Counties with Rosewood leasehold SandRidge NW Mississippian Play Map CO KS

4 Leasehold Summary Leasehold Expiration by Year Kansas Colorado Total Gross Net Gross Net Gross Net HBP 36,383 34,473 6,736 5,080 43,118 39, ,985 4, ,186 4, ,982 14,407 1,440 1,080 19,423 15, ,460 9, ,276 10, ,864 8,161 1,629 1,310 10,493 9,471 Total 79,675 71,154 10,821 8,306 90,496 79,460 Leasehold Expiration by Year (1) Acreage County Breakdown (1) 13% 12% 50% 10% 5% 4% 3% 40% 19% 6% 38% HBP Sherman Cheyenne Yuma Thomas Sheridan Rawlins (1) Net acreage.

8,864 8,161 1,629 1,310 10,493 9,471 Total 79,675 71,154 10,821 8,306 90,496 79,460 Leasehold Expiration by Year (1) Acreage County

5 Sale Process Timeline Next Step: If you would like to review the Confidentiality Agreement, receive the Sales Memorandum and access the Virtual Data Room, please do one of the following: (1) Visit our website at and click the "Access Confidentiality Agreement and Virtual Data Room" link, or (2) If you received an regarding this deal, click the "Access Confidentiality Agreement and Virtual Data Room" link For any questions regarding the CA or Virtual Data Room, please contact BJ Brandenberger ( ) Sale Materials Available May 24 s May 24 Final Offers Due June 22 (noon CST) Projected PSA Execution July 6 Projected Closing August 10 Effective Date of Sale July 1 May Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday June Final Offers Due Holiday July Monday Tuesday Wednesday Thursday Friday Saturday Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sunday August Holiday Sign Projected PSA Close

com/rosewood and click the "Access Confidentiality Agreement and Virtual Data Room" link, or (2) If you received an email regarding this deal, click the "Access Confidentiality Agreement and Virtual

6 Contact Information Please direct all inquiries to the Energy Spectrum team for this transaction: Coy Gallatin Managing Director (713) BJ Brandenberger Vice President (214) Thomas C. Woolley Jr., P.E. Vice President (214) Will Hundley Associate (214) EN ERGY SPECT RU M ADVISO RS IN C Sherry Lane, Suite Dallas, TX (214) Fax: (214)

Woolley Jr., P.E. Vice President (214) 987-6143 tommy.woolley@energyspectrum.com Will Hundley Associate (214) 987-6153 will.

ENERGY SPECTRUM ADVISORS INC.

ENERGY SPECTRUM ADVISORS INC. Little Pine Resources Executive Summary Sale of Marcellus Shale Properties February 2012 EN ERGY SPECT RU M ADVISO RS IN C. Transaction Overview Little Pine Resources ( LPR