APPALACHIAN GROUP

Penn Natural Resources LLC was formed by the principals of Texas Independent Exploration, Ltd. to acquire and develop Marcellus leaseholds in Pennsylvania.

XPR Resources LLC (XPR), former WPX Energy Appalachia, LLC, is a privately funded natural gas exploration and production company. Together, with Penn Natural Resources, XPR Resources holds over 50,000 acres of Marcellus gas rights in Southwest Pennsylvania.

Campbell Oil & Gas, Inc. (COG) is an oil and gas operator in Pennsylvania. COG is contracted by Penn Natural Resources and by XPR Resources to operate their producing properties.

OTHER

Texas Independent Exploration, Ltd. (TIE) is a privately owned domestic E&P with over 30 years  of operational experience in multiple areas of the United States. TIE has previously developed and managed operations which built the 5th largest producer in Texas RRC District 4. The Management Team has drilled and operated in excess of 200 high pressure gas condensate producing wells. The principals of TIE continue working on finding the best investment opportunities across the United States.