Black Stone Minerals L P 's

We produce a broad range of electronic data storage products including HDDs, solid state hybrid drives (SSHD) and solid state drives (SSD), which address enterprise applications, where our products are designed for enterprise servers, mainframes and workstations; client compute applications, where our products are designed for desktop and notebook computers; and client non-compute applications, where our products are designed for a wide variety of end user devices such as digital video recorders (DVRs), gaming consoles, personal data backup systems, portable external storage systems and digital media systems. In addition to manufacturing and selling data storage products, we provide data storage services for small to medium-sized businesses, including online backup, data protection and recovery solutions.

Altex Industries, Inc. is a holding company with one full-time employee and one part-time employee that was incorporated in Delaware in 1985. Through its operating subsidiary, AOC, the Company currently owns interests, including working interests, in productive onshore oil and gas properties, has bought and sold producing oil and gas properties, and, to a lesser extent, has participated in the drilling of exploratory and development wells, and in recompletions of existing wells.

We are an independent energy company primarily engaged in the acquisition, exploration, development and production of oil and gas. Abraxas Petroleum Corporation was incorporated in Nevada in 1990. Our address is 18803 Meisner Drive, San Antonio, Texas 78258 and our phone number is (210) 490-4788.

We were incorporated in Colorado on January 16, 2002.

We planned to sell custom framed artwork, art accessories, and interior design consulting. However, we generated only limited revenue and were inactive between 2008 and February of 2012.

In February 2012 we decided it would be in the best interests of our shareholders to no longer pursue our original business plan and, in April 2012 we became active in the exploration and development of oil and gas properties.

We are an independent oil and natural gas company focused on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and southeastern New Mexico and is comprised of three primary sub-basins: the Midland Basin, the Delaware Basin, and the Central Basin Platform. We have historically been focused on the Midland Basin and recently entered the Delaware Basin through an acquisition completed in February 2017. Our drilling activity during 2016 focused on the horizontal development of several prospective intervals in the Midland Basin, including multiple levels of the Wolfcamp formation and the Lower Spraberry shale. As a result of our horizontal development efforts and contributions from acquisitions, our net daily production for calendar year 2016 as compared to calendar year 2015 grew approximately 59% to 15,227 BOE/d (approximately 77% oil). We intend to grow our reserves and production through the development, exploitation and drilling of our multi-year inventory of identified, potential drilling locations. We intend to add to this inventory through delineation drilling of emerging zones on our existing acreage and acquisition of additional locations through leasehold purchases, leasing programs, joint ventures and asset swaps.

Daybreak Oil and Gas, Inc. was originally incorporated in the State of Washington on March 11, 1955 as Daybreak Uranium, Inc. The Company was organized to explore for, acquire and develop mineral properties throughout the Western United States. In August 1955, we acquired the assets of Morning Sun Uranium, Inc. By the late 1950’s, we ceased to be a producing mining company and thereafter engaged in mineral exploration only. In May 1964, to reflect the diversity of our mineral holdings, we changed our name to Daybreak Mines, Inc. By February 1967, we had ceased all exploration operations. After that time, our activities were confined to annual assessment and maintenance work on our Idaho mineral properties and other general and administrative functions. In November 2004, we sold our last remaining mineral rights covering approximately 340 acres in Shoshone County, Idaho.

Dorchester Minerals, L.P. is a publicly traded Delaware limited partnership that commenced operations on January 31, 2003, upon the combination of Dorchester Hugoton, Ltd., Republic Royalty Company, L.P. and Spinnaker Royalty Company, L.P. Dorchester Hugoton was a publicly traded Texas limited partnership, and Republic and Spinnaker were private Texas limited partnerships. Our common units are listed on the NASDAQ Global Select Market. American Stock Transfer & Trust Company is our registrar and transfer agent and its address and telephone number is 6201 15th Avenue, Brooklyn, NY 11219, (800) 937-5449. Our executive offices are located at 3838 Oak Lawn Avenue, Suite 300, Dallas, Texas, 75219-4541, and our telephone number is (214) 559-0300. We have established a website at www.dmlp.net that contains the last annual meeting presentation and a link to the NASDAQ website.

We are an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas. Our primary source of revenue has been from our Etame Production Sharing Contract (“Etame PSC”) related to the Etame Marin block located offshore the Republic of Gabon (“Gabon”) in West Africa. We also currently own interests in an undeveloped block offshore Equatorial Guinea, West Africa and undeveloped leasehold acreage in Montana.

Goodrich Petroleum Corporation, a Delaware corporation formed in 1995, is an independent oil and natural gas company engaged in the exploration, development and production of oil and natural gas on properties primarily in (i) Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, (ii) Southwest Mississippi and Southeast Louisiana which includes the Tuscaloosa Marine Shale Trend (“TMS”), and (iii) South Texas, which includes the Eagle Ford Shale Trend. We own interests in 156 producing oil and natural gas wells located in 39 fields in eight states. At December 31, 2016, we had estimated proved reserves of approximately 303 Bcfe, comprised of 286 Bcf of natural gas and 2.8 MMBbls of oil and condensate.

Since March 2013, we have been singularly focused on identifying high-potential oil and gas prospects located on the shelf in the U.S. GOM. We have licensed 3-D seismic data covering approximately 2.2 million acres and have evaluated this data using advanced interpretation technologies. As a result of these analyses, we have identified and acquired leases on multiple prospects that we believe may contain economically recoverable hydrocarbon deposits, and we plan to continue to conduct more refined analyses of our prospects as well as target additional lease and property acquisitions. We have given preference to areas with water depths of 450 feet or less where production infrastructure already exists, which will allow for any discoveries to be developed rapidly and cost effectively with the goal to reduce economic risk while increasing returns.

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company engaged in oil and gas acquisition, exploration, development and production. We are strategically focused on onshore oil and gas properties in Colombia and also own the rights to oil and gas properties in Brazil and Peru.

Houston American Energy Corp is an independent oil and gas company focused on the development, exploration, exploitation, acquisition, and production of natural gas and crude oil properties in the U.S. Permian Basin and Gulf Coast regions, particularly Texas and Louisiana, and in the South American country of Colombia.

Laredo is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties, primarily in the Permian Basin in West Texas. The oil and liquids-rich Permian Basin is characterized by multiple target horizons, extensive production histories, long-lived reserves, high drilling success rates and high initial production rates. We operate and analyze our results of operations through our two principal business segments:

Exploration and production of oil and natural gas properties - conducted principally by Laredo Petroleum, Inc. through the exploration and development of our acreage in the Permian Basin.

Midstream and marketing - conducted principally by our wholly-owned subsidiary, LMS. LMS buys, sells, gathers and transports oil, natural gas and water primarily for the account of Laredo. In addition, LMS owns a 49% interest in Medallion Gathering & Processing, LLC ("Medallion"), which, upon completion of current projects, will own and operate more than 650 miles of pipeline in the Permian Basin ("Medallion-Midland Basin").

We are a Houston, Texas based independent oil and natural gas company. Our business is to maximize production and cash flow from our onshore properties in Texas and Wyoming and our offshore properties in the shallow waters of the Gulf of Mexico (“GOM”) and to use that cash flow to explore, develop, exploit, acquire and increase production from crude oil and natural gas properties in the onshore Texas and Rocky Mountain regions of the United States.

Since our inception, we have been engaged in acquiring and developing oil and gas properties and the exploration for and production of natural gas, crude oil, condensate and natural gas liquids (“NGLs”) within the United States. We especially seek to acquire proved reserves that fit well with existing operations or in areas where Mexco has established production. Acquisitions preferably will contain most of their value in producing wells, behind pipe reserves and high quality proved undeveloped locations. Competition for the purchase of proved reserves is intense. Sellers often utilize a bid process to sell properties. This process usually intensifies the competition and makes it extremely difficult to acquire reserves without assuming significant price and production risks.

Panhandle Oil and Gas Inc. was founded in Range, Texas County, Oklahoma, in 1926, as Panhandle Cooperative Royalty Company. The Company operated as a cooperative until 1979, when it merged into Panhandle Royalty Company, and its shares became publicly traded. On April 2, 2007, the Company’s name was changed to Panhandle Oil and Gas Inc.

Park Place Energy Corp. is an energy company engaged in exploration for oil and natural gas, primarily in the Dobrich region of northeast Bulgaria. In 2014, we moved our headquarter offices to Dallas, Texas from Calgary, Alberta, Canada, and established a registered office in Bulgaria. Our corporate headquarters are located at 2200 Ross Avenue, Suite 4500, Dallas, Texas 75201.

Today, the operations of our Company and its subsidiary concentrate on natural gas exploration in the Dobrich region of northeast Bulgaria. We continue to look for new opportunities in other countries with particular focus on Eastern Europe. Our goal is to become a producer of natural gas in Bulgaria and other countries.

In 2016, we underwent two transformative transactions. In March 2016, we closed on the acquisition of the Foreman Butte project, which included a number of producing and non-producing, operated and non-operated properties in the Ratcliffe and Madison formations in North Dakota and Montana. The purchase price was $16.0 million (before post-closing settlement adjustments) and following a review of the fair market value of the assets and liabilities on the closing date of the transaction, we recorded a bargain purchase gain of $10.7 million. This acquisition was financed through an extension in our credit facility with Mutual of Omaha Bank of $11.5 million and a $4.0 million promissory note provided to the seller of the assets. This note was repaid in May 2017 through a term note facility from Mutual of Omaha Bank.

Our primary business objective is to provide an attractive return to our unitholders by focusing on business results, maximizing distributions through organic growth and pursuing accretive growth opportunities through acquisitions of mineral, royalty, overriding royalty, net profits and similar interests from Diamondback and from third parties. Our initial assets consisted of mineral interests in oil and natural gas properties in the Permian Basin in West Texas, substantially all of which are leased to working interest owners who bear the costs of operation and development. Diamondback contributed these assets, which it acquired in September 2013 from a third party for cash, to us upon the closing of our IPO on June 23, 2014.

We were organized under the laws of the State of Nevada on January 7, 1982. We are authorized to issue 47,500,000 shares of common stock par value $0.001 per share. On January 12, 2012 we implemented a 50:1 reverse stock split of our common stock.

Prior to May 3, 2006 we operated under the name Victory Capital Holdings Corporation among other corporate names.

Our common stock is quoted under the ticker symbol VYEY on the OTCQB, operated by OTC Markets Group.

Since our inception, we have built a strong asset base through a combination of property acquisitions, development of proved reserves and exploration activities. Our current operations and capital programs are focused on organic drilling opportunities and on the development of previously acquired properties, specifically on projects that we believe provide the greatest potential for repeatable success and production growth, while selectively pursuing acquisitions that complement our existing core properties, such as the acquisition of Kodiak Oil & Gas Corp. (the “Kodiak Acquisition”) discussed in the “Acquisitions and Divestitures” footnote in the notes to the consolidated financial statements.

Maintain a strong financial position;

Investment in a diversified portfolio of drilling opportunities;

Rate-of-return driven evaluation and ranking of investment decisions;

Tracking predicted versus actual results in a centralized exploration management system, providing feedback to improve results;

Attracting quality employees and maintaining integrated teams of geoscientists, landmen and engineers;

Maximizing profitability.

We are an independent oil and gas company focused on the acquisition, development and production of oil, natural gas and NGL reserves in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg Basin (the “DJ Basin”) of Colorado. The Wattenberg Field has been producing since the 1970s and is a premier North American oil and natural gas basin characterized by high recoveries relative to drilling and completion costs, high initial production rates, long reserve life and multiple stacked producing horizons. We have assembled, as of December 31, 2016, approximately 109,400 net acres of large, contiguous acreage blocks in some of the most productive areas of the DJ Basin, indicated by the results of our horizontal drilling program and the results of offset operators, which we refer to as the “Core DJ Basin”. Subsequent to year-end 2016, the Company acquired approximately 5,300 additional net acres and entered into agreements to acquire approximately 1,100 additional net acres in the Core DJ Basin. These properties have extensive production histories, high drilling success rates, and significant horizontal development potential. We believe our acreage in the Core DJ Basin has been significantly delineated by our own drilling success and by the success of offset operators, providing confidence that our inventory is relatively low-risk, repeatable and will continue to generate economic returns. We are primarily focused on growing our proved reserves and production primarily through the development of our large inventory of identified liquids-rich horizontal drilling locations in the DJ Basin.

Camber Energy, Inc., a Nevada corporation, is an independent oil and natural gas company based in Houston, Texas with a field office in Gonzales, Texas. We are engaged in the acquisition, development and sale of crude oil, natural gas and natural gas liquids from various known productive geological formations, including from the Hunton formation in Lincoln, Logan and Payne Counties, in central Oklahoma; the Cline shale and upper Wolfberry shale in Glasscock County, Texas; and recently in connection with our entry into the Horizontal San Andres play on the Central Basin Platform of the Permian Basin in West Texas announced on January 3, 2017. Incorporated in Nevada in December 2003 under the name Panorama Investments Corp., the Company changed its name to Lucas Energy, Inc. effective June 9, 2006 and effective January 4, 2017, the Company changed its name to Camber Energy, Inc.

The Company was incorporated in the State of Nevada on October 26, 2009. The Company is engaged in the search mineral deposits or reserves which are not in the development or production stage. The Company intends to explore for oil and gas on its mining property.

On December 20, 2016, we entered into a Business Combination Agreement (the “Merger Agreement”) with Tema Oil and Gas Company (“Tema”) pursuant to which we will acquire (the “Proposed Business Combination”), assuming no redemptions, approximately 39% of the equity of a wholly-owned subsidiary of Tema to be named Rosehill Operating Company, LLC (“Rosehill LLC”), to which Tema will contribute certain assets and liabilities prior to closing of the Proposed Business Combination, for aggregate consideration of $35 million in cash, issuance of 29,807,692 shares of our newly created Class B common stock, 4,000,000 Warrants exercisable for shares of our Class A Common Stock (each entitling the holder to purchase one share of Class A Common Stock for $11.50) (each, a “Warrant”), additional cash held by us in the trust account and in connection with a private placement of 8.0% Series A Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”) and Warrants to certain qualified institutional buyers and accredited investors (the “Private Placement”), and the assumption of $55 million in debt, subject to certain customary purchase price adjustments. In the Proposed Business Combination, Tema will obtain a majority of our voting shares and will retain a majority of its equity in Rosehill LLC. The Business Combination Agreement and the transactions contemplated thereby were approved by our board of directors on December 15, 2016.

The Reserve Petroleum Company is engaged principally in managing its owned mineral properties and the exploration for and the development of oil and natural gas properties. Other business segments are not significant factors in our operations. The Company is a corporation organized under the laws of the State of Delaware in 1931.

Imperial Oil Limited was incorporated under the laws of Canada in 1880 and was continued under the Canada Business Corporations Act (the “CBCA”) by certificate of continuance dated April 24, 1978. The head and principal office of the company is located at 505 Quarry Park Boulevard S.E. Calgary, Alberta, Canada T2C 5N1. Exxon Mobil Corporation (ExxonMobil) owns approximately 69.6 percent of the outstanding shares of the company.

This document includes the following abbreviations:

TREC – Trecora Resources

TOCCO – Texas Oil & Chemical Co. II, Inc. – Wholly owned subsidiary of TREC and parent of SHR and TC

SHR – South Hampton Resources, Inc. – Petrochemical segment and parent of GSPL

GSPL – Gulf State Pipe Line Co, Inc. – Pipeline support for the petrochemical segment

TC – Trecora Chemical, Inc. – Specialty wax segment

AMAK – Al Masane Al Kobra Mining Company – Mining equity investment – 33% ownership

PEVM – Pioche Ely Valley Mines, Inc. – Inactive mine - 55% ownership

Acquisition – October 1, 2014, purchase of TC