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Bank of America Merrill Lynch

Leveraged Finance Conference


June 2014
2
Forward-Looking & Other Cautionary Statements
Forward-Looking Statements
All statements included in this presentation by Samson Resources Corporation (the Company or we), other than statements of historical fact, may constitute
forward-looking statements, including, but not limited to, statements or information regarding our future capital expenditures, production, growth, results of operations,
reserves, operational and financial performance, business prospects and opportunities and other future events. Words such as, but not limited to, potential, goal,
foresee, anticipate, continue, estimate, expect, may, might, will, project, should, believe, intend, continue, could, plan, predict, and
similar expressions are intended to identify forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions or future
events or performance contained in this presentation are forward-looking statements.
All forward-looking statements involve risks and uncertainties. The occurrence of the events described and the achievement of the expected results depend on
many events and assumptions, some or all of which are not predictable or within our control. Factors that may cause actual results to differ from expected results include,
but are not limited to: (i) fluctuations in oil and natural gas prices; (ii) the uncertainty inherent in estimating our reserves, future net revenues and PV-10; (iii) the timing
and amount of future production of oil and natural gas; (iv) cash flow and changes in the availability and cost of capital; (v) environmental, drilling and other operating
risks, including liability claims as a result of our oil and natural gas operations; (vi) proved and unproved drilling locations and future drilling plans; (vii) the effects of
existing and future laws and governmental regulations, including environmental, hydraulic fracturing and climate change regulation; and (viii) any of the risk factors and
other cautionary statements described in Amendment No. 1 to our Registration Statement on Form S-4, filed with the Securities and Exchange Commission (the SEC) on
May 13, 2014.
Readers are cautioned not to place undue reliance on forward-looking statements. Should one or more of the risks or uncertainties referred to in this
presentation occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking
statements. Further, new factors that could cause actual results to differ materially from those described in forward-looking statements emerge from time to time, and it
is not possible to predict all such factors, or to the extent to which any such factor or combination of factors may cause actual results to differ from those contained in
any forward-looking statement.
All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by this cautionary statement. This
cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf
may issue. Each forward-looking statement speaks only as of the date of this presentation, and we undertake no obligation to update or revise any forward-looking
statements to reflect subsequent events or circumstances.
Reserves Disclaimer
The SEC requires oil and gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or
through reliable technology to be economically and legally producible at specific prices and existing economic and operating conditions. The Company may use the terms
resource potential and EUR in this presentation to describe estimates of potentially recoverable hydrocarbons that the SEC rules prohibit from being included in
filings with the SEC. These quantities do not constitute reserves within the meaning of the Society of Petroleum Engineers Petroleum Resource Management System or
SEC rules. EUR, or estimated ultimate recovery, refers to our managements internal estimates based on per well hydrocarbon quantities that may be potentially
recovered from a hypothetical future well completed as a producer in the area. Estimates of resource potential and EUR are by their nature more speculative than
estimates of proved reserves, and, accordingly, are subject to substantially more risk of actually being realized. Actual quantities that may be ultimately recovered may
differ materially from the estimates contained in this presentation. Factors affecting ultimate recovery include our ability to acquire the acreage we are targeting and the
scope of our on-going drilling program, which will be directly affected by the availability of capital, drilling and production costs, availability of drilling services and
equipment, drilling results, lease expirations, transportation constraints, regulatory approvals and other factors; and actual drilling results, including geological and
mechanical factors affecting recovery rates. Estimates of resource potential, per well EUR and drilling locations may change significantly as the Company pursues
acquisitions. In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline
rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price declines or drilling cost
increases.
Current Asset Base Overview Map Company Snapshot
Proved Reserves
(1)
: 1.86 Tcfe (66% PDP)
Total PV-10
(2)
: $2.8 billion
Liquids Mix: 33%
Q114 Production
(3)
: 529 MMcfe/d
Operated Rigs: 8

Total Net Acreage
(4)
: ~2 million
Samson Operated Rigs
Samson Offices (HQ: Tulsa, OK)
Q114 Production: 185 MMcfe/d
Proved Reserves
(1)
: 652 Bcfe
Acreage: 824,000
West Division
Q114 Production: 342 MMcfe/d
Proved Reserves
(1)
: 1,198 Bcfe
Acreage: 933,000
East Division
Company Asset Overview
West Division Business Units:
Williston Three Forks / Middle Bakken
Powder River Shannon, Sussex, Frontier
Greater Green River Ft. Union
San Juan Fruitland Coal, Mesa Verde
East Division Business Units:
Mid-Continent West Granite Wash
Mid-Continent East Marmaton, MS Solid
East Texas Cotton Valley Sands

(1) NSAI YE 2013 (Total Company Proved Reserves includes 7 Bcfe not included in the West and East Division totals)
(2) PV-10 is a non-GAAP measure. A reconciliation to its nearest GAAP financial measure is included in this presentation
(3) Includes 2 MMcfe/d of production not included in the West and East Division totals
(4) As of YE 2013 (Total Company Net Acreage includes 198,000 net acres not included in the West and East Division totals)
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Reduce base capital plan to further de-risk drilling dollars in the near-term
High grade development drilling projects and delineate to set up future drilling programs
Reduce operating costs and focus on production optimization
Maintain adequate liquidity to execute on near-term strategic initiatives
Well hedged for the next 12 months
Non-core assets sales (~$200 million targeted for 2014)
Corporate Strategy
Optimize Capital
Program
Add Additional
Future Drill Bit
Inventory
Protect the
Balance Sheet
Active
Portfolio
Management
4
Delineate the liquids-rich Ft. Union
Test step out / extension plays CV Sands / Taylor, Mississippi Solid, Shannon / Sussex
Bolt-on to existing core positions to provide additional inventory and production

Opportunistically monetize non-core assets and consolidate portfolio to key material basins
Actively monitor M&A market for potential acquisitions

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Company Update



Production
529 MMcfe/d down 2.5% QoQ
Total Liquids up 200 Bbls/d QoQ to 26,500
30% Liquids Mix

Oil & Gas Capex
(1)
$137MM down 32% YoY
Q114 91% Drill-bit spend

Adjusted EBITDA
(2)
Q114 $179MM / TTM $763MM
(3)

Operational Highlights
Delivered 26 wells to first sales, up from 17
wells in Q413
CY 2014 Production Guidance 1
st
Quarter 2014 Highlights
0
100
200
300
400
500
600
Gas Oil NGL Total
(
M
M
c
f
e
/
d
)
89-97
79-87
530-580
362-396
Powder River
$180
Powder River
$160
Mid-Con
$215 Mid-Con
$160
$670
$580
$0
$100
$200
$300
$400
$500
$600
$700
Base Capital Plan Current Capital Plan
CY 2014 D&C Capital Plan
(1) Excludes capitalized interest paid and direct internal costs
(2) Adjusted EBITDA is a non-GAAP measure. A reconciliation to its nearest GAAP financial measure is included in this presentation
(3) Twelve months ended March 31, 2014
($MM)
Overview
Williston Bakken and Three Forks horizontal oil
development
Powder River Exploration and development of
multiple prospective oil horizons
Greater Green River Ft. Union early stage
development / high impact liquids-rich gas play
San Juan Legacy dry gas position
Rig Count: 3 rigs (1 PRB / 1 Williston / 1 San Juan)
Acreage: 824,000 Net
Q114 Production: 185 MMcfe/d (35% Liquids)
Proved Reserves: 652 Bcfe
2014 D&C Capital Plan: ~$310 million

Q114 Production: 85 MMcfe/d
Acreage: 83,000
San Juan
Overview Map
WYOMING
COLORADO
NORTH DAKOTA
Q114 Production: 56 MMcfe/d
Acreage: 252,000
Greater Green River
Q114 Production: 22 MMcfe/d
Acreage: 309,000
Powder River
Q114 Production: 23 MMcfe/d
Acreage: 180,000
Williston
West Division
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Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
2014 Operations Update Ft. Union:
Q1 2014 completed five new horizontal wells
Based on recent results, the next drill window will focus on
high confidence targets and delineating additional acreage
with vertical drilling
Expect to drill and complete five horizontal and two vertical
wells during the upcoming drill window
Rig Count: 2-3 rigs (drill window Aug14 - Feb15)
Q114 Production: 56 MMcfe/d
Acreage: 252,000 Net (Ft Union 32,000 Net)
2014 D&C Capital Plan: ~$70 million
Greater Green River
Ft. Union Overview Map
PRODUCING HZ
PRODUCING VERTICAL
Barricade
Unit
Endurance
Unit
7
Endurance 41-29
(3-Well Pad)
Barricade 24-36
(3-Well Pad)
(1)
Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) 24-36 S1MH was not completed during the 2013-2014 drill window due to down hole mechanical issues
First D&C IP30
Sales ($MM) (MMcfe/d)
Endurance
41-29 Lower Feb-14 $17.2 8.4 6%
41-29 Mi ddl e Feb-14 $11.9 3.8 29%
41-29 Upper Feb-14 $11.8 3.9 43%
**Designed to delineate north east side of field and test all three zones
Barricade
24-36 Lower Mar-14 $10.5 3.4 3%
24-36 Mi ddl e Mar-14 $10.7 15.1 10%
**Designed to test 900' spacing concept
% Liquids Well Name
Recent Well Results

2014 Operations Update:
Twenty horizontal Shannon oil wells producing at
North Tree
First sales on six new horizontal Shannon wells in
North Tree Field during Q114 and six in April
Recently turned the Spearhead 24-36 single well pad
to sales (Sussex completion in Hornbuckle Field), four
additional Sussex wells are waiting on completion
Rig Count: 1 rig (North Tree / Hornbuckle)
Acreage: 309,000 Net (North Tree 24,000 Net)
2014 D&C Capital Plan: ~$160 million
Overview Map
Powder River
JOHNSON
CAMPBELL
CONVERSE
Hornbuckle - Sussex
8
0.4 0.4 0.3 0.4 0.3
3.7
3.5
3.3
3.0
3.3
4.1
3.9
3.6
3.5
3.6
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
Total Production
(MBoe/d)
Gas Liquids (Oil and NGL)
North Tree - Shannon

Carolina (4-Well Pad)
First Sales: Feb-14
Tennessee (2-Well Pad)
First Sales: Feb-14
Spearhead
First Sales: 4/18/2014
ACTIVE RIG
(1)
Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) Pro forma for divested production
Williston
9
Ambrose Field
Bonneville 5/7 (2-Well Pad)
First Sales: Apr-14
2014 Operations Update:
Evaluating different spacing and completion
techniques
Boneville 5/7 two-well pad designed to test new
spacing concept
Rig Count: 1 rig
Acreage: 180,000 Net (North Dakota 84,000 Net)
2014 D&C Capital Plan: ~$80 million
Overview Map
0.1
0.2 0.2
3.7
4.2
4.0 3.9
3.6
3.7
4.3
4.0 4.0
3.8
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
Total Production
(MBoe/d)
Gas Liquids (Oil and NGL)
(1)
ACTIVE RIG OPERATED ACREAGE
NON-OP ACREAGE
Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) Pro forma for divested production
Almos Farms (3-Well Pad)

First Sales: Jan-14
Bel Air / Comet 1/2/3 (6-Well Pad)

First Sales: Nov-13
DIVIDE
Q114 Production: 148 MMcfe/d
Acreage
(1)
: 365,000
East Texas
Q114 Production: 110 MMcfe/d
Acreage: 335,000
Mid-Continent East
Overview Map Overview
Targeting liquids-rich intervals across acreage
position
Further delineate Marmaton and MS Solid
Evaluating Granite Wash opportunities based upon
recent results
Continue infill development of the CV B & C sands
Testing CV Taylor in 2014
Rig Count: 5 rigs (1 MCW/ 2 MCE / 2 ET)
Acreage: 933,000 Net
Q114 Production: 342 MMcfe/d (28% Liquids)
Proved Reserves: 1,198 Bcfe
2014 D&C Capital Plan: ~$270 million
Q114 Production: 84 MMcfe/d
Acreage: 233,000
Mid-Continent West
East Division
10
TEXAS
OKLAHOMA
Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) Includes Permian minerals of 67,000 net acres

Mid-Continent West
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Hemphill
Lipscomb Ochiltree
Roberts
Wheeler
Granite Wash
Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) One rig drilling Cleveland oil horizontals beginning in July
(2) Wheeler, Hemphill and Roberts counties
(3) Pro forma for divested production
52 52 52
48 47
40 43
45
40
37
92
94
97
87
84
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
Total Production
(MMcfe/d)
Gas Liquids (Oil and NGL)
(3)
2014 Operations Update:
Granite Wash production results on recent
completions less than expected
Reducing rig count to one with a focus on Cleveland oil
horizontals for the remainder of the year
Rig Count: 1 rigs
(1)
Acreage: 233,000 Net (Granite Wash
(2)
65,000 Net)
2014 D&C Capital Plan: ~$55 million
Overview Map
Meadows (2-Well Pad)
Waiting on Completion
Texas
Oklahoma
T
E
X
A
S

O
K
L
A
H
O
M
A

RECENT HORIZONTAL WELLS
Mills (2-Well Pad)
Waiting on Completion
Mid-Continent East
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Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) ~22,000 net prospective acres for Mississippi Solid and ~44,000 net acres in Roger Mills county
(2) Pro forma for divested production
ROGER MILLS
WOODS
ELLIS
WOODWARD
DEWEY
CUSTER
Overview Map
Mississippi Solid
Marmaton
Turley 2-9
First Sales : 4/25/2014
2014 Operations Update:
Fourteen horizontal Marmaton and four horizontal
Mississippi Solid wells producing
Currently drilling Purvis 3-19 (Marmaton) and four-well
stacked lateral Shawna/Dietz pad (Mississippi Solid)
Utilizing offset industry activity in Roger Mills to help
delineate our Marmaton play
Rig Count: 2 rigs
Acreage
(1)
: 335,000 Net
2014 D&C Capital Plan: ~$110 million
68 68
72 71
75
18
22
30 31
35
86
90
102 102
110
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
Total Production
(MMcfe/d)
Gas Liquids (Oil and NGL)
(2)
Active Rigs
Maxon 4-24H
Avg IP30: 10 MMcfe/d
Maxon 2-24H
Avg IP30: 15.2 MMcfe/d
2014 Operations Update:
The three-well Biggs pad and seven-well Werner-Caraway pad
recently had first sales
Three-well Reeves pad waiting on completion
First Cotton Valley Taylor well drilled for $7.1 MM
approximately 10% under AFE; first sales on 5/7/2014 with
initial production exceeding forecast
Rig Count: 2 rigs
Acreage: 365,000 Net (Cotton Valley
(1)
86,000 Net)
2014 D&C Capital Plan: ~$110 million
East Texas
Overview Map
Harrison
Panola
Rusk
Gregg
SE Carthage
Field
Panola
Active Rigs
13
SE Carthage Field
Texas Scottish Rite (CV Taylor)
First Sales: 5/7/2014
Werner Caraway (7-Well Pad)
First Sales: 5/3/2014
Biggs (3-Well Pad)
Avg Well IP30: 5.2 MMcfe/d
163
147
141 140
126
25
23
20 20
22
188
170
161 161
148
Q1'13 Q2'13 Q3'13 Q4'13 Q1'14
Total Production
(MMcfe/d)
Gas Liquids (Oil and NGL)
Note: 2014 D&C as of June 2014. Acreage and reserve amounts are as of YE2013
(1) Panola, Rusk, Harrison and Gregg counties
Balance Sheet
Adequate liquidity position
Simple capital structure with no near-term maturities
Access equity capital to delever with a growth focused acquisition or acceleration of organic development
Bank Credit Facility
Diversified bank group 24 banks with no bank over 10%
Borrowing base of $1.0 billion
Recently amended RBL to provide additional financial flexibility
Hedge Position
Maintain a solid hedge position to protect capital program by reducing price risk
Over 80% hedged on a total hydrocarbons basis for CY 2014
Initial positions established for 2015
Financial Position
14
$503 $497
$1,000
$2,250
$0 $500 $1,000 $1,500 $2,000 $2,500
2016
2017
2018
2019
2020
Revolver - Borrowings Revolver - Availability Second Lien Senior Notes
(1) Revolver borrowings and availability excludes outstanding letters of credit
(2) Currently paying 1.00% additional interest due to delay in registering notes
(1)
($MM)
Debt Maturity Profile and Liquidity
Debt Maturity Profile and Liquidity
RBL Capacity: $1.0 BN
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Highlights
Revolver

availability
(1)
of ~$500 MM as of
May 31, 2014 ($503 MM drawn)
Ability to incur incremental $500 MM of
second lien debt without a related
Borrowing Base reduction
Debt Tranches
Sr. Notes $2.25BN
Due February 2020
Coupon 9.75%
(2)
8 year / NC 4
2
nd
Lien Term Loan $1.0 BN
Due September 2018
Libor plus 4.00% (LF = 1.00%)
RBL Credit Facility
Matures December 2016
Borrowing Base $1.0 BN
Grid based rates (1.50%-2.50%)
Financial Performance Covenant
First Lien Net Debt to LTM Adjusted
EBITDA no greater than 1.5x
through Q415
As of May 1, 2014
(1) Volumes are rounded
(2) 2015 includes 20,000 MMBtu/d of Cal 15 collars and 10,000 MMBtu/d of Q115 collars
(3) 2016 includes 30,000 MMBtu/d of natural gas collars to the extent our counterparty elects to exercise their collar options
Note: 2014 includes balance of the year only
Year Bbls/d
(1)
Swap Price
2014 16,500 $90.63
2015 3,500 $90.91
Year Bbls/d
(1)
Swap Price
2014 7,500 $35.43
Year MMBtu/d
(1)
Wtd Avg
Floor
2014 307,300 $4.15
2015
(2)
127,170 $4.09
2016
(3)
116,000 $4.06
2017 40,000 $3.92
NGL Swaps Oil Swaps Natural Gas Swaps & Collars
Current Hedge Position
16
17
Focusing on costs and capital discipline to improve returns
Active in M&A deal flow as we seek to optimize the portfolio & provide opportunities to de-
leverage the company
Potential to add value:
Long-term natural gas option in East Texas and Mid-Continent
Ft. Union has upside potential to significantly add reserves and production
Further delineating step-out opportunities within the portfolio
Summary
Non-GAAP Financial Disclosures
18
We refer to PV-10 as the present value of estimated future net cash flows of estimated proved reserves as calculated in the respective
reserve report using a discount rate of 10%. This amount includes projected revenues, estimated production costs and estimated future
development costs and excludes the estimated cash flows related to future asset retirement obligations (ARO) and future income taxes.
We have also included PV-10 after ARO below. PV-10 after ARO includes the present value of ARO related to proved reserves using a 10%
discount rate and no inflation of current costs. Neither PV-10 nor PV-10 after ARO is a financial measure defined under GAAP.
Accordingly, the following table reconciles these amounts to the standardized measure of discounted future net cash flows, which is the
most directly comparable GAAP financial measure.













We believe that the non-GAAP financial measures of PV-10 and PV-10 after ARO are relevant and useful for evaluating the relative
monetary significance of our proved oil and natural gas reserves. We believe the use of pre-tax measures is valuable because there are
many unique factors that can impact an individual company when estimating the amount of future income taxes to be paid. Management
believes that the presentation of these measures provide useful information to investors because they are widely used by investors in
evaluating oil and natural gas companies. PV-10 and PV-10 after ARO are not measures of financial or operating performance under
GAAP, nor are they intended to represent the current market value of our estimated proved reserves. PV-10 and PV-10 after ARO should
not be considered in isolation or as substitutes for the standardized measure of discounted future net cash flows as defined under GAAP.
(dollars in thousands)

As of
December 31,
2013

PV-10 $ 2,815,239
Present value of estimated ARO, discounted at 10% (29,260)

PV-10 after ARO 2,785,979
Present value of future income tax, discounted at 10% (173,292)

Standardized measure of discounted future net cash flows $ 2,612,687
PV-10 Reconciliation
This presentation includes certain financial measures, including Adjusted EBITDA, that are non-GAAP financial measures as defined under
the rules of the Securities and Exchange Commission. This presentation is accompanied by a reconciliation of these non-GAAP financial
measures to their nearest GAAP financial measures. These non-GAAP financial measures should not be considered in isolation or as
substitutes for a measure prepared in accordance with United States generally accepted accounting principles.
Three Months Twel ve Months
Ended Ended
March 31, 2014 March 31, 2014
(dollars in thousands)
Net Loss (1,022) $ (1,048,167) $
Interest expense, net 20,476 20,476
Benefi t for i ncome taxes (449) (582,022)
Depreci ati on, depl eti on and amorti zati on (a) 119,344 548,995
EBITDA 138,349 $ (1,060,718) $
Adjustment for unreal i zed hedgi ng l osses (gai ns) 19,637 (2,971)
Adjustment for non-cash stock compensati on expense (b) 13,237 37,549
Adjustment for fees pai d to co-i nvestors (c) 5,512 21,262
Adjustment for fees pai d for publ i c company compl i ance 173 1,690
(Gai n) l oss on sal e of other property and equi pment 162 (2,526)
Provi si on to reduce carryi ng val ue of oi l and gas properti es - 1,748,401
Unusual or non-recurri ng charges descri bed i n credi t agreement 1,841 20,394
Adjusted EBITDA 178,911 $ 763,081 $
Consol i dated Adjusted EBITDA (d) 751,670 $
(a) Incl udes depreci ati on, depl eti on and amorti zati on of oi l and gas properti es and depreci ati on and
amorti zati on of other property and equi pment and accreti on of ARO.
(b) Stock compensati on expense recogni zed i n earni ngs, net of capi tal i zati on
(c) Quarterl y management fee
(d) Excl udes sol d EBITDA of approxi matel y $11.4 MM per Credi t Agreement
Non-GAAP Financial Disclosures
19
Note: Calculated as of 3/31/14 with respect to Samson Resources Corporation and its consolidated subsidiaries by reference to the applicable terms of the credit
agreement governing the RBL Revolver
Q1 2014 Adjusted EBITDA Reconciliation