Investor Presentation March 2017 - Samson Resources

1 II Investor Presentation March 2017 77 / 115 / 161 140 / 176 / 140 235 / 245 / 255 Fill: 210 / 227 / 242 Out: 0 / 0 / 255 Fill: 222 / 242 / 224 Out: 0 / 128 / 0 Fill: 255 / 228 / 135 Out: 255 / 153 / 0 Fill: 255 / 217 / 217 Out: 192 / 0 / 0 Fill: 230 / 205 / 255 Out: 102 / 0 / 204 II Disclaimer Forward-Looking Statements and Risk Factors This Presentation contains certain matters that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, including statements regarding the intent, belief or current expectations and projections of the Samson Resources II, LLC (the Company ) and its management.

2 These statements can be identified by the use of forward-looking terminology, including plan , intend , will , expect , anticipate , project , should , could or other similar words. You are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties many of which are beyond the control of the Company, its subsidiaries, or its and their management, representatives and advisors, that could materially and adversely affect actual results. These include risks relating to our financial performance and results, our ability to improve our financial results and profitability following emergence from bankruptcy, availability of sufficient cash flow to execute our business plan, continued low or further declining commodity prices and demand for oil, natural gas and natural gas liquids, our ability to hedge future production, our ability to replace reserves and efficiently develop current reserves.

3 And the regulatory environment and other important factors that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements and none of the Company, its subsidiaries, or its and their representatives and advisors undertake any obligation to update any such statements. Reserve Estimates The SEC permits oil and natural gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC s definitions for such term. The Company may use terms in this Presentation that the SEC s guidelines strictly prohibit in SEC filings, such as estimated ultimate recovery or EUR, Resources , net Resources , total resource potential and similar terms to estimate oil and natural gas that may ultimately be recovered.

4 These estimates are by their nature more speculative than estimates of proved, probable and possible reserves as used in SEC filings and, accordingly, are subject to substantially greater uncertainty of being actually realized. These estimates have not been fully risked by management. Actual quantities that may be ultimately recovered will likely differ substantially from these estimates. Factors affecting ultimate recovery include the scope of the Company s actual drilling program, which will be directly affected by the availability of capital, drilling and production costs, commodity prices, availability of drilling services and equipment, lease expirations, transportation constraints, regulatory approvals, field spacing rules, actual drilling results and recoveries of oil and natural gas in place, and other factors.

5 These estimates may change significantly as the development of properties provides additional data. PV-10 PV-10 represents the present value, discounted at 10% per year, of estimated future net cash flows. The Company s calculation of PV-10 herein differs from the standardized measure of discounted future net cash flows determined in accordance with the rules and regulations of the SEC in that it is calculated before income taxes, using strip prices as of March 1, 2017 , rather than after income taxes, using the average price during the preceding 12-month period, determined as an unweighted average of the first-day-of-the-month price for each month.

6 The Company s calculation of PV-10 should not be considered as an alternative to the standardized measure of discounted future net cash flows determined in accordance with the rules and regulations of the SEC. i 77 / 115 / 161 140 / 176 / 140 235 / 245 / 255 Fill: 210 / 227 / 242 Out: 0 / 0 / 255 Fill: 222 / 242 / 224 Out: 0 / 128 / 0 Fill: 255 / 228 / 135 Out: 255 / 153 / 0 Fill: 255 / 217 / 217 Out: 192 / 0 / 0 Fill: 230 / 205 / 255 Out: 102 / 0 / 204 II Samson Resources II Today (1)Liquidity and net debt calculations summarized on page 5. (2)NYMEX strip pricing as of 3/8/17 shown as Natural Gas / Oil per year: 2017 $ / $ , 2018 $ / $ , 2019 $ / $ , 2020 $ / $ , 2021 $ / $ , and held flat thereafter.

7 (3)Includes PDP, PDNP and SEC PUDs, plus PUDs developed within 5 years assuming a 4 rig drilling program. See break out on page 3. Samson Resources II ( Samson or the Company ) successfully emerged from bankruptcy on March 1, 2017 3 core asset areas in East Texas / North Louisiana, the Powder River Basin and the Green River Basin Total debt reduced by ~$4 billion. Pro forma net debt of ~$220 million under a $280 million reserve based lending credit facility (1) Pro forma asset coverage of PDP / net debt Strong liquidity and forecasted free cash flow generation Commodity risk minimized with strong hedging program Continued miscellaneous non-core asset sales resulting in additional liquidity Sustained focus on cost structure with particular emphasis on reductions in lease operating expenses and corporate level expenses ~135 MMcfe/d of Q1 2017E production (72% gas / 28% liquids) 1P PV-10 of >$500 million(2)(3)

8 Controls ~490,000 net acres (88%+ held by production or fee minerals) of which ~473,000 net acres have exposure to emerging stacked pay opportunities in East Texas / North Louisiana, the Powder River Basin and the Green River Basin Drilling inventory of ~7,300 gross development locations; large percentage (~2,900 gross locations) economic at current commodity pricing Total 3P Resource of > Tcf Long term drilling program allows for acceleration and scalability New CEO Joseph A. Mills announced in February 2017 Former Chairman & CEO of Eagle Rock Energy Partners and senior officer at El Paso Production Company and Sonat Exploration Company 35 year industry veteran with a strong operational and cost reduction history with particular focus on East Texas / North Louisiana and the Rockies Over $10 billion in executed A&D transactions Recently engaged Jefferies and Houlihan Lokey to review strategic alternatives 1 77 / 115 / 161 140 / 176 / 140 235 / 245 / 255 Fill: 210 / 227 / 242 Out: 0 / 0 / 255 Fill: 222 / 242 / 224 Out: 0 / 128 / 0 Fill.

9 255 / 228 / 135 Out: 255 / 153 / 0 Fill: 255 / 217 / 217 Out: 192 / 0 / 0 Fill: 230 / 205 / 255 Out: 102 / 0 / 204 II Samson Leasehold Summary Samson Asset Portfolio Overview (1) Net Acres: ~240,000 (98% HBP) 1Q 2017 Prod: ~98 MMcfe/d (83% gas) Locations: 2,275 gross / 1,855 net Economic Locations: 580 gross / 370 net PD Value: ~$243 MM (2) Substantial current production and undeveloped inventory in the Cotton Valley as well as the Haynesville Shale, where recent enhanced completion designs have unlocked large gas Resources at attractive costs East Texas / North Louisiana Net Acres: ~153,000 (80% HBP) 1Q 2017 Prod: ~14 MMcfe/d (16% gas) Locations: 3,200 gross / 720 net Economic Locations: 800 gross / 160 net PD Value.

10 ~$91 MM (2) Highly-economic stacked-pay oil resource with significant industry momentum applying modern completion and drilling designs could prove to be the next Permian Basin with high resource potential and activity Powder River Basin Net Acres: ~80,000 (62% HBP) 1Q 2017 Prod: ~23 MMcfe/d (90% gas) Locations: 1,805 gross / 1,390 net Economic Locations: 1,525 gross / 1,240 net PD Value: ~$66 MM (2) Highly consolidated liquids-rich gas play with strong recent results and increased economic inventory at current prices 2 1 (1)Current production figures represent 1Q 2017E averages.