EFTA02218447.pdf

To: From: Sent: Fri 6/23/2017 12:52:22 AM Subject: Re: JEJReliance Energy PowerPoint Presentation and 3ROC Teaser I'll be back in NYC sometime in July after the Holiday. Wanted to see if Jeffrey will be there. Please tell him. I'll forward some further ops were involved in soon. Cheers, David Fro Se • ' it 28, 2017 7:17 AM To: Subject: JE/Reliance Energy PowerPoint Presentation and 3ROC Teaser Jeffrey, I'm just back from NYC. Wanted to pass along a large Permian deal we're involved in. This will be a very near term opportunity. So thought it maybe of interest. See attached info. We are forming what will become the next Reliance Energy. Most of Reliance was sold to CXO late in 2016 for $1.6B. We will use the company's remaining 40k acreage and add them to a newco with the addition of the Riverstone asset(3Rock). So in total we will have 100k of acreage w 5000boe of production and midstream operations. There is also an option to increase the acreage to 137k by Fall. Total deal metrics are $1.7-1.9B. With the Riverstone deal alone around $1.3-1.5B. We plan to add cash and use men debt. So today only in need of appx $400-600mm of equity. The plan would be to have this as a private newco with a path towards an IPO within a year. We see a 3X opp here. Similar to Reliance's past deals. EFTA_R1_00950527 EFTA02218447 Josh Fink(Larry's son) and I are leading the new group re financing and strategy. Gary McKinney and his team will be running to show. Gary will be investing $100mm into the co. Please keep in confidence. Would be great to have you involved and continue to reflect what opportunities Livermore sources, structures, and invests in. Regards, David Sent from my iPad Should find the PowerPoint and the teaser from 3ROC on the site below Let me know if you have any problems or if you need anything else. Go to: fta.bervloil.com User: Geology Password: trilobite EFTA_R1_00950528 EFTA02218448