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Contango Oil & Gas | 2020 Contango & MCEP Strategic Merger Presentation | Allan D. Keel | Page 7 of 11 | May 03, 2025

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7 MCF Current Asset Overview Map of Current Assets Western Anadarko ? ~122,000 net acres; long-life, low decline assets • 95% HBP / ~81% operated (1) • Average WI: ~74% (1) / Average NRI: ~64% (1) ? Low-risk upside potential Central Oklahoma ? ~265,000 net acres; long-life, low decline assets with infrastructure • 93% HBP / 84% operated (1) • Average WI: ~69% (1) / Average NRI: ~56% (1) ? Multiple target zones focused in the STACK and Cherokee Platform formations Southern Delaware ? ~7,700 net operated acres within premier U.S. onshore play • Bullseye: ~5,700 net; NE Bullseye: ~2,000 net ? Acreage materially de-risked from recent development by Contango and offset operators ? 6 gross wells (2.25 net) to drill in 2021 to fully HBP acreage • Represents majority of PUD value and capital requirements ? Targeting WC A, WC B; prospective for Bone Spring ? Midstream integration / optionality – 18.5 miles of water pipeline and 2 active SWDs Gulf of Mexico ? Stable production / cash flow base supported by active hedging program ? Shallow shelf position • Eugene Island situated in 13’ of water ? 100% PDP ? Minimal incremental capex and total net P&A liabilities of < $9mm as of June 2020 ? Significant upside opportunity via high impact exploratory prospects Southern Delaware Gulf of Mexico • Eugene Island 11 • Various Prospects Pecos Co. Other Onshore Southern Delaware Note: Additional assets in Kansas, Mississippi, Wyoming and Gulf Coast are not shown Western Anadarko Central Oklahoma Gulf of Mexico Bullseye NE Bullseye Note: Net proved reserves and PV-10 are as of 12/31/2019 using strip pricing as of 8/4/2020; excludes reserves associated with ~37% interest in Exaro. PV-10 is a non-GAAP measure. See Appendix for more information. 1) Figures are for operated, held by production acreage. Q2 2020 Proved Proved Asset Area Net Production Reserves PV-10 (MBoe/d) % Liquids MMBoe $mm % PDP Gulf of Mexico 2.7 18% 5.8 $40.6 100% Southern Delaware 0.9 94% 5.1 26.6 91% Central Oklahoma 9.1 47% 21.1 72.7 96% Western Anadarko 2.5 40% 7.9 29.2 100% Other Onshore 0.9 60% 3.1 21.6 96% Total 16.1 44% 43.0 $190.7 97%