Netback of $48.55 !Through the Ridgeback Acquisition, Saturn will acquire approximately 17,000 boe/d (~71% light oil and natural gas liquids ('NGLs'))(6) of low decline, capital efficient production, which, at US$80 WTI oil price, is expected to generate an operating netback(3) of $48.55 / boe resulting in annualized net operating income(3) ('NOI') of $311 million, implying a 1.66x TV / NOI multiple. Based on the Ryder Scott Report (as herein defined), the Ridgeback Acquisition has a before-tax Proved Developed Producing(3) ('PDP') NPV10% of $915 million, implying a 0.57x TV / PDP multiple, and a before-tax Total Proved Plus Probable(3) ('P+P') NPV10% of $1.8 billion, implying a 0.28x TV / P+P, with over 430,000 net acres of land, in four core areas, in Saskatchewan and Alberta (the 'Ridgeback Assets').