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|                                     |   | Net Reservesas of December 31, 2010 |   |
|------------------------------------------|--------|-------------------------------------|--------|
|                                     |   | Oil andCondensate(Mbbl)             |   |   | NGL(Mbbl) |   |   | SalesGas(MMcf) |   |
|                                     |   |                                |   |   |   |   |   |   |   |
| Proved                                   |   |                                |   |   |   |   |   |   |   |
|    Developed Producing    |   |                                | 4,714  |   |   |   | 24 |   |   |   | 36,770 |   |
|    Developed Nonproducing |   |                                | 645    |   |   |   | 48 |   |   |   | 2,890 |   |
|    Undeveloped            |   |                                | 3,711  |   |   |   | 218 |   |   |   | 38,963 |   |
|                                     |   |                                |   |   |   |   |   |   |   |   |   |   |
| Total Proved                             |   |                                | 9,070  |   |   |   | 290 |   |   |   | 78,623 |   |

| Probable                                 |   |   |   |   |   |   |   |   |   |
|------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|    Developed Producing    |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Developed Nonproducing |   |   | 183    |   |   |   | 0      |   |   |   | 1,302 |   |
|    Undeveloped            |   |   | 6,657  |   |   |   | 416    |   |   |   | 35,814 |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Probable                           |   |   | 6,840  |   |   |   | 416    |   |   |   | 37,116 |   |

| Possible                                                                                                 |   |   |   |   |   |   |   |   |   |
|----------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|    Developed Producing                                                                    |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Developed Nonproducing                                                                 |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Undeveloped                                                                            |   |   | 6,863  |   |   |   | 268    |   |   |   | 13,276 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Possible                                                                                           |   |   | 6,863  |   |   |   | 268    |   |   |   | 13,276 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| * Probable and possible reserves have not been risk adjusted to make them comparable to proved reserves. |   |

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|                                     |   | Net Reservesas of December 31, 2010 |   |
|------------------------------------------|--------|-------------------------------------|--------|
|                                     |   | Oil andCondensate(Mbbl)             |   |   | NGL(Mbbl) |   |   | SalesGas(MMcf) |   |
|                                     |   |                                |   |   |   |   |   |   |   |
| Proved                                   |   |                                |   |   |   |   |   |   |   |
|    Developed Producing    |   |                                | 76     |   |   |   | 0 |   |   |   | 390 |   |
|    Developed Nonproducing |   |                                | 0      |   |   |   | 0 |   |   |   | 0 |   |
|    Undeveloped            |   |                                | 0      |   |   |   | 0 |   |   |   | 0 |   |
|                                     |   |                                |   |   |   |   |   |   |   |   |   |   |
| Total Proved                             |   |                                | 76     |   |   |   | 0 |   |   |   | 390 |   |

| Probable                                 |   |   |   |   |   |   |   |   |   |
|------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|    Developed Producing    |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Developed Nonproducing |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Undeveloped            |   |   | 72     |   |   |   | 0      |   |   |   | 378 |   |
|                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Probable                           |   |   | 72     |   |   |   | 0      |   |   |   | 378 |   |

| Possible                                                                                                 |   |   |   |   |   |   |   |   |   |
|----------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|    Developed Producing                                                                    |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Developed Nonproducing                                                                 |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |
|    Undeveloped                                                                            |   |   | 144    |   |   |   | 0      |   |   |   | 757 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Possible                                                                                           |   |   | 144    |   |   |   | 0      |   |   |   | 757 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| * Probable and possible reserves have not been risk adjusted to make them comparable to proved reserves. |   |

|                                                                                              |   | Proved             |   |                  |
|---------------------------------------------------------------------------------------------------|--------|--------------------|--------|-----------------------|
|                                                                                              |   | DevelopedProducing |   | DevelopedNonproducing |   | Undeveloped |   | TotalProved |
|                                                                                              |   |               |   |                  |   |   |   |   |
| Future Gross Revenue, M$                                                                          |   | 487,332            |   | 60,834                |   | 414,609 |   | 962,775 |
| Production and Ad Valorem Taxes, M$                                                               |   | 47,638             |   | 5,443                 |   | 38,150 |   | 91,231 |
| Operating Expenses, M$                                                                            |   | 186,439            |   | 10,282                |   | 75,635 |   | 272,356 |
| Investment Costs, M$                                                                              |   | 0                  |   | 6,697                 |   | 148,127 |   | 154,824 |
| Abandonment Costs, M$                                                                             |   | 1,809              |   | 45                    |   | 150 |   | 2,004 |
| Future Net Revenue, M$                                                                            |   | 251,446            |   | 38,367                |   | 152,547 |   | 442,360 |
| Present Worth at 10 Percent, M$                                                                   |   | 133,342            |   | 21,588                |   | 31,851 |   | 186,781 |
|                                                                                              |   |               |   |                  |   |   |   |   |
| Note: Future income taxes have not been taken into account in the preparation of these estimates. |   |

|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               | Probable           |                  |                  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------------------|-----------------------|-----------------------|
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               | DevelopedProducing |                  | DevelopedNonproducing |   | Undeveloped |   | TotalProbable |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |                  |   |   |   |   |
|                                                                                                                                                                                                                             | Future Gross Revenue, M$                                                                                                                                                                                                         |               | 0                  |                  | 18,882                |   | 652,470 |   | 671,353 |
|                                                                                                                                                                                                                             | Production and Ad Valorem Taxes, M$                                                                                                                                                                                              |               | 0                  |                  | 1,529                 |   | 66,684 |   | 68,213 |
|                                                                                                                                                                                                                             | Operating Expenses, M$                                                                                                                                                                                                           |               | 0                  |                  | 4,706                 |   | 110,101 |   | 114,807 |
|                                                                                                                                                                                                                             | Investment Costs, M$                                                                                                                                                                                                             |               | 0                  |                  | 2,847                 |   | 191,090 |   | 193,937 |
|                                                                                                                                                                                                                             | Abandonment Costs, M$                                                                                                                                                                                                            |               | 0                  |                  | 21                    |   | 102 |   | 123 |
|                                                                                                                                                                                                                             | Future Net Revenue, M$                                                                                                                                                                                                           |               | 0                  |                  | 9,779                 |   | 284,493 |   | 294,272 |
|                                                                                                                                                                                                                             | Present Worth at 10 Percent, M$                                                                                                                                                                                                  |               | 0                  |                  | 6,384                 |   | 74,600 |   | 80,984 |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |                  |   |   |   |   |
|                                                                                                                                                                                                                             | Notes:1. Future income taxes have not been taken into account in the preparation of these estimates.2. Values for probable reserves have not been risk adjusted to make them comparable to values for proved reserves. |               |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             | Possible           |               |                  |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             | DevelopedProducing |               | DevelopedNonproducing |                  | Undeveloped |   | TotalPossible |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |                  |   |   |   |
| Future Gross Revenue, M$                                                                                                                                                                                                         |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 550,222 |   | 550,222 |
| Production and Ad Valorem Taxes, M$                                                                                                                                                                                              |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 61,205 |   | 61,205 |
| Operating Expenses, M$                                                                                                                                                                                                           |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 89,229 |   | 89,229 |
| Investment Costs, M$                                                                                                                                                                                                             |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 175,032 |   | 175,032 |
| Abandonment Costs, M$                                                                                                                                                                                                            |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 9 |   | 9 |
| Future Net Revenue, M$                                                                                                                                                                                                           |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 224,746 |   | 224,746 |
| Present Worth at 10 Percent, M$                                                                                                                                                                                                  |                                                                                                                                                                                                                             | 0                  |               | 0                     |                  | 45,840 |   | 45,840 |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |                  |   |   |   |
| Notes:1. Future income taxes have not been taken into account in the preparation of these estimates.2. Values for possible reserves have not been risk adjusted to make them comparable to values for proved reserves. |                                                                                                                                                                                                                             |

|                                                                                              |   | Proved             |   |                  |
|---------------------------------------------------------------------------------------------------|--------|--------------------|--------|-----------------------|
|                                                                                              |   | DevelopedProducing |   | DevelopedNonproducing |   | Undeveloped |   | TotalProved |
|                                                                                              |   |               |   |                  |   |   |   |   |
| Future Gross Revenue, M$                                                                          |   | 9,388              |   | 0                     |   | 0 |   | 9,388 |
| Production and Ad Valorem Taxes, M$                                                               |   | 0                  |   | 0                     |   | 0 |   | 0 |
| Operating Expenses, M$                                                                            |   | 2,001              |   | 0                     |   | 0 |   | 2,001 |
| Investment Costs, M$                                                                              |   | 1,000              |   | 0                     |   | 0 |   | 1,000 |
| Abandonment Costs, M$                                                                             |   | 50                 |   | 0                     |   | 0 |   | 50 |
| Future Net Revenue, M$                                                                            |   | 4,406              |   | 0                     |   | 0 |   | 4,406 |
| Present Worth at 10 Percent, M$                                                                   |   | 2,685              |   | 0                     |   | 0 |   | 2,685 |
|                                                                                              |   |               |   |                  |   |   |   |   |
| Note: Future income taxes have not been taken into account in the preparation of these estimates. |   |

|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             | Probable           |               |                  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|--------------------|-----------------------|
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             | DevelopedProducing |               | DevelopedNonproducing |   | Undeveloped |   | TotalProbable |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |   |   |   |   |
| Future Gross Revenue, M$                                                                                                                                                                                                         |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 9,461 |   | 9,461 |
| Production and Ad Valorem Taxes, M$                                                                                                                                                                                              |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 0 |   | 0 |
| Operating Expenses, M$                                                                                                                                                                                                           |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 1,848 |   | 1,848 |
| Investment Costs, M$                                                                                                                                                                                                             |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 2,250 |   | 2,250 |
| Abandonment Costs, M$                                                                                                                                                                                                            |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 50 |   | 50 |
| Future Net Revenue, M$                                                                                                                                                                                                           |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 2,935 |   | 2,935 |
| Present Worth at 10 Percent, M$                                                                                                                                                                                                  |                                                                                                                                                                                                                             | 0                  |               | 0                     |   | 1,099 |   | 1,099 |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |   |   |   |   |
| Notes:1. Future income taxes have not been taken into account in the preparation of these estimates.2. Values for probable reserves have not been risk adjusted to make them comparable to values for proved reserves. |                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               | Possible           |                  |   |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               | DevelopedProducing |                  | DevelopedNonproducing |   | Undeveloped |   | TotalPossible |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |   |   |   |   |   |
|                                                                                                                                                                                                                             | Future Gross Revenue, M$                                                                                                                                                                                                         |               | 0                  |                  | 0 |   | 18,921 |   | 18,921 |
|                                                                                                                                                                                                                             | Production and Ad Valorem Taxes, M$                                                                                                                                                                                              |               | 0                  |                  | 0 |   | 0 |   | 0 |
|                                                                                                                                                                                                                             | Operating Expenses, M$                                                                                                                                                                                                           |               | 0                  |                  | 0 |   | 3,697 |   | 3,697 |
|                                                                                                                                                                                                                             | Investment Costs, M$                                                                                                                                                                                                             |               | 0                  |                  | 0 |   | 4,500 |   | 4,500 |
|                                                                                                                                                                                                                             | Abandonment Costs, M$                                                                                                                                                                                                            |               | 0                  |                  | 0 |   | 100 |   | 100 |
|                                                                                                                                                                                                                             | Future Net Revenue, M$                                                                                                                                                                                                           |               | 0                  |                  | 0 |   | 5,869 |   | 5,869 |
|                                                                                                                                                                                                                             | Present Worth at 10 Percent, M$                                                                                                                                                                                                  |               | 0                  |                  | 0 |   | 2,135 |   | 2,135 |
|                                                                                                                                                                                                                             |                                                                                                                                                                                                                             |               |               |                  |   |   |   |   |   |
|                                                                                                                                                                                                                             | Notes:1. Future income taxes have not been taken into account in the preparation of these estimates.2. Values for possible reserves have not been risk adjusted to make them comparable to values for proved reserves. |               |

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| 1.   | That I am a Senior Vice President with DeGolyer and MacNaughton, which company did prepare the letter report addressed to Abraxas dated February 22, 2011, and that I, as Senior Vice President, was responsible for the preparation of this report. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | That I attended Texas A&M University, and that I graduated with a Bachelor of Science degree in Petroleum Engineering in the year 1974; that I am a Registered Professional Engineer in the State of Texas; that I am a member of the International Society of Petroleum Engineers and the American Association of Petroleum Geologists; and that I have in excess of 36 years of experience in oil and gas reservoir studies and reserves evaluations. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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