Power Point Presentation

Forward-Looking Statement

Statements about the merger and all other statements in this presentation (and oral statements

made regarding the subjects of this presentation) other than historical facts are forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995. These

forward-looking statements rely on a number of assumptions concerning future events and are

subject to a number of uncertainties and factors, many of which are outside Chaparral’s and

Edge’s

control,

which

could

cause

actual

results

differ

materially

from

such

statements.

Forward-looking information includes, but is not limited to, statements regarding the merger

(including the benefits, results, effects and timing thereof), the combined company and attributes

thereof, whether and when the transactions contemplated by the merger agreement will be

consummated, the location of headquarters and other offices, whether and when the proxy

statement/prospectus will be filed, the officers of Chaparral, the members and size of Chaparral’s

Board of Directors. Among the factors that could cause results to differ materially from those

indicated by such forward-looking statements are the failure to receive the approval of Edge’s

stockholders,

the

availability

and

terms

financing

(including

amounts

required

refinance

Chaparral’s

and

Edge’s

existing

credit

facilities),

the

failure

satisfy

conditions

under

commitment letters, the Series B preferred stock purchase agreement or the other conditions to

the closing of the merger, costs and difficulties related to integration of businesses and operations,

delays, costs and difficulties relating to the transactions, market conditions and other factors

described in risk factors and elsewhere in Chaparral’s Annual Report on Form 10-K for the twelve

months ended December 31, 2007, Edge’s Annual Report on Form 10-K for the twelve months

ended December 31, 2007, as amended by its report on Form 10-K/A for that period, and those

set forth from time to time in Chaparral’s and Edge’s filings with the SEC. Except as required by

law, Chaparral and Edge expressly disclaim any intention or obligation to revise or update any

forward-looking statements whether as a result of new information, future events, or otherwise.

Additional Information

In connection with the proposed merger, Chaparral and Edge intend to file materials relating to the transaction with the

SEC, including a registration statement of Chaparral, which will

include a prospectus of Chaparral and a proxy

statement of Edge. INVESTORS AND SECURITY HOLDERS OF EDGE ARE URGED TO CAREFULLY READ THE

REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER MATERIALS

REGARDING THE PROPOSED MERGER WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN

IMPORTANT INFORMATION ABOUT CHAPARRAL, EDGE AND THE PROPOSED TRANSACTION. Investors and

security holders may obtain a free copy of the registration statement and the proxy statement/prospectus when they

are available and other documents containing information about Chaparral and Edge, without charge, at the SEC’s

web site at www.sec.gov. Copies of Chaparral’s SEC filings may also be obtained for free by directing a request to

Investor Relations, Chaparral Energy, Inc., (405) 478-8770. Copies of Edge’s SEC filings may also be obtained for

free by directing a request to Investor Relations, Edge Petroleum Corporation, (713) 654-8960.

Participants in Solicitation

Chaparral and Edge and their respective directors, executive officers and certain other members of management may

be deemed to be participants in the solicitation of proxies from

the Edge stockholders in respect of the merger.

Information about these persons can be found in Chaparral’s Form 10-K as filed with the SEC on March 31, 2008 and

Form 8-K filed July 15, 2008 and Edge’s Form 10-K/A as filed with the SEC on April 29, 2008 and Form 8-K filed July

15, 2008. Additional information about the interests of such persons in the solicitation of proxies in respect of the

merger will be included in the registration statement and the proxy statement/prospectus to be filed with the SEC in

connection with the proposed transaction.

Strategic

Fit

Strategic

Fit

•

Chaparral (“CPR”) executed a merger agreement on July 14 with Edge Petroleum

(“EPEX”)

•

Edge’s exploratory asset base is highly complementary to CPR’s large low-risk

drilling and EOR portfolio

•

Increase

critical

mass

with

combined

proved

reserves

1,150

Bcfe

with

pro

forma average daily production of 172 mmcfe/d

at 12/31/2007

•

The merger will increase CPR’s near-term EBITDA generation potential, production

and cash flow

•

Increased combined production recalibrates Reserve-to-Production ratio (R/P) to

approximately 18 years, more in line with peer group

•

Potential for significant multiple expansion

Financing

Merger Transaction

Structure

•

Tax efficient merger transforms Chaparral into a public entity

•

Edge shareholders to own 14% of new-co

•

New-co to be listed on NYSE: CPR

•

Private placement of new preferred stock for $150 million, concurrent with merger

•

New committed credit facility to be supported by additional hedges

Operational summary

December

2007

Total proved reserves

987 Bcfe

% Proved developed

65%

% Crude oil

60%

SEC pretax PV-10¹

$2,672mm

R/P ratio

24.3 years

Avg. daily production

111 Mmcfe

Financial summary ($mm, except

ratios)

Year Ended

12/31/07

Avg. wellhead price ($/mcfe)

$ 9.01

Oil and gas sales (prehedge)

$366.0

Adjusted EBITDA

$197.3

Revolving credit facility

$447.0

Senior notes, issued December 2005

325.0

Senior notes, issued January 2007

322.5

Other long term debt

19.7

Total debt

$1,114.2

Total debt / Adj. EBITDA

5.6x

Total debt / Boe

$6.77

Total debt / PD boe

$10.46

Chaparral Highlights

Independent E&P company, engaged in

the production, acquisition and

development of oil & gas properties

Core areas are the Mid-Continent and

Permian Basin regions

Second largest oil producer in Oklahoma

Operating Highlights:

Sept 2005 -

$158 mm CEI Bristol

acquisition (115 Bcfe proved reserves)

Oct 2006 -

$500 mm Calumet Oil

acquisition (346 Bcfe proved reserves)

Financial Highlights:

Nov 2005 -

$325 mm bond placement

Sept 2006 -

$277 mm private equity

sale to Chesapeake Energy ($102 mm

of primary)

Jan 2007 -

$325 mm bond placement

Company overview

Pricing for Dec. 2007 was $96.01/bbl and $6.795/mcf.

Operational Overview

Core area

Growth area

Acreage

Field offices

Headquarters

Gulf Coast

Reserves: 51.5 Bcfe, 5% of total

Production: 10.4 mmcfe/d, 9% of total

Ouachita

Uplift

Midland

Basin

Delaware

Basin

Val Verde

Basin

Williston

Basin

Powder

River

Basin

Greater

Green

River

Basin

San

Juan

Basin

Anadarko

Basin

Arkoma

Basin

Fort

Worth

Basin

Sabine

Uplift

North Texas

Reserves: 18.6 Bcfe, 2% of total

Production: 3.8 mmcfe/d, 3% of total

Rocky Mountains

Reserves: 22.4 Bcfe, 2% of total

Production: 2.6 mmcfe/d, 2% of total

Ark-La-Tex

Reserves: 28.7 Bcfe, 3% of total

Production: 5.2 mmcfe/d, 5% of total

Oklahoma City

Company Total

2007

year-end

proved

reserves

–

987

Bcfe

2007

average

daily

production

–

111

mmcfe

Mid-Continent

Reserves: 757.4 Bcfe, 77% of total

Production: 72.1 mmcfe/d, 65% of total

Permian Basin

Reserves: 108.3 Bcfe, 11% of total

Production: 17.2 mmcfe/d, 16% of total

Key Investment Considerations

Long-lived reserves with stable and predictable production profiles

Reserves are 60% oil and 72% operated with 88% located in the Mid-Continent

and Permian Basin

Strong track record of replacing reserves at low cost through acquisitions of

mature properties and creating significant value through enhancement

Low risk drilling inventory with 1,475 proved locations and 4,780 other drilling

locations

Substantial upside potential with polymer and CO2 enhanced oil recovery projects

Generated profits in 18 of 20 years of existence

Experienced management and operational team averaging over 25 years of

experience each

Chaparral’s Operating Strategy

Acquire mature properties and enhance production through recompletions and

workovers

Increase reserves and production through drilling of low-risk inventory

Expand drilling focus in Gulf Coast to increase near-term earnings and balance

long-lived reserves

Expand CO

pipeline infrastructure and develop 54 fields for CO

tertiary

recovery

Hedge production to support borrowing base

Growth Strategy

50% Growth through Drilling

50% Growth through Acquisitions, Enhancements and EOR

Short-Term Growth: Drilling, Acquisitions and Enhancements

Long-Term Growth: EOR Programs

Chaparral Oil & Gas Capex

CPR O&G capital expenditures ($mm)

Continued Focus On Drilling

2008 drilling budget by area

(1)

2007 amount represents amounts released from escrow related to Calumet

acquisition.

Note: Excludes service company acquisition ($25 million) and potential

ethanol plant investment ($30 million), and $30 million of expenditures

for general corporate uses (equipment, buildings, etc.)

Permian Basin

23%

North Texas

Other

Mid-Continent

48%

Gulf Coast

17%

Component

2006

2007

2008 Expanded

Budget

Drilling

$134

$121

$178

Enhancements

Minor Acquisitions

EOR Projects

Subtotal

$202

$214

$269

Significant Acquisitions

(1)

$465

$16

Total

$667

$230

$269

Strategy –

Acquire, Enhance, Drill

76% of reserves added 2004 -

2007 were through acquisitions

Continue to pursue acquisitions

in the $1 million to $20 million

range

Minor acquisitions represent

14% of planned 2008 oil and

gas capex

Selectively pursue larger

strategic acquisitions

Typical Enhancements

Disciplined Acquisitions

Enhancements

Install coiled tubing

Repair casing leaks

Install pumping units

Install plunger lift

Recompletions

Install compression

818 proved developed

projects

$43.8 million cost

$804.8 mm incremental

cash flow

19.4x ROI

>100% IRR

Low-Risk Dev Drilling

Low-risk infill or step-out wells

(99% success rate in 2007)

Inventory of 1,475 gross well

locations in proved reserves with

a net cost of $506 million

Inventory of 4,780 additional

gross well locations with a net

cost of $4.1 billion

20-year inventory of drilling

locations at 2008 planned drilling

rate of 171 operated wells and

143 wells operated by others

Southwest Antioch Gibson Sand Unit

Garvin County, OK

Chaparral assumes operations

Gas Mcf/mo

Oil Bbl/mo

Area affected by gas

injection

Chaparral’s third largest

field by proved reserves.

7,000’

depth

Chaparral acreage

Field shutdown & plugging

Unit Statistics

OOIP (Mmbo)

121.8

Primary oil recovery (Mmbo)

21.2

Secondary oil recovery (Mmbo)

18.7

Cumulative gas recovery (Bcf)

255.1

Cumulative gas injection (Bcf)

142.5

Current gas-in-place (Bcf)

54.0

Gross reserves/well bcfe:

1.0

Gross CapEx / well $MM:

$1.1

Company net acres:

9,520

Total seismic sq.mi.:

Avg working interest:

99%

Potential drill locations:

Total net CapEx $MM:

$46.4

Wells planned 2008:

2008 net CapEx $MM:

$15.6

Low-Risk Drilling Inventory

Cleveland Sand Play

Horizontal drilling

Tight sand play

8,300’

depth

Gross reserves/well bcfe:

1.6

Gross CapEx / well $M:

$2.3

Company net acres:

6,600

Total seismic sq.mi.:

Avg working interest:

60%

Potential drill locations:

Total net CapEx $MM:

$36.0

Wells planned 2008:

2008 net CapEx $MM:

$14.0

2008 Well Locations

Drilling or Recent Completions

Sections with CELLC Interests

Sections with CELLC Deep Rights

Low-Risk Drilling Inventory

Carter County, OK

Gross reserves/well bcfe:

0.4

Gross CapEx / well $M:

$0.7

Company net acres:

2,235

Total seismic sq.mi.:

Avg working interest:

79.4%

Potential drill locations:

106

Total net CapEx $MM:

$99.6

Wells planned 2008:

2008 net CapEx $MM:

$18.8

Fox Deese Springer Unit

WI –

79.44% (operated property)

Size –

2,235 acres; Depth –

3300’

–

5500’

Cum. Rec. –

14 mmbo

(Primary & Secondary)

Producing zones -

Deese, Sims, Hoxbar & Morris

Wells -

63 Producing, 46 Injection

Very Lenticular in nature, tighter sands

Upside Potential

ID drilling from 10 acre spacing to 5 acre spacing

Noble Energy began ID drilling the Milroy Deese Unit located 1

mile NW in 5/04. Production increased from 156 BOPD to 660

BOPD.

4 well pilot program completed; appx. 250 BO/Day

Identified 84 PUD locations. Over 100 locations available.

Upside from CO2 EOR

2008 Well Locations

Recently completed wells

5 Acre Infill Locations

Fox Deese Springer

Sycamore Unit

Low-Risk Drilling Inventory

BELL CANYON SAND

CHERRY CANYON SAND

TUNSTILL FIELD

Delaware Basin

Multi-pay environment

3300-5200’

depth

Tunstill Field Play

Loving Co.

Reeves Co.

Gross reserves/well bcfe:

0.56

Gross CapEx / well $M:

$0.825

Company net acres:

19,840

Total seismic sq.mi.:

Avg working interest:

100%

Potential drill locations:

292

Total net CapEx $MM:

$240.3

Wells planned 2008:

2008 net CapEx $MM:

$8.6

Low-Risk Drilling Inventory

2008 Well Locations

Recently Drilled Locations

Recently acquired --

10,920 acres

Existing Acreage --

8,920 acres

PSL BLK 28

PSL BLK 29

PETRA 4/26/2007 9:53:06 AM

Haley Area Play

Bone Springs, Strawn,

Atoka and Morrow Play

(17,700’

depth)

Expensive wells

High production rates

Large reserve potential

Gross reserves/well bcfe:

4.8

Gross CapEx / well $M:

$6.0

Company net acres:

3,840

Total seismic sq.mi.:

Avg working interest:

74%

Potential drill locations:

Total net CapEx $MM:

$87.1

Wells planned 2008:

2008 net CapEx $MM:

$33.6

Low-Risk Drilling Inventory

2008 Bone Springs Locations

2008 Deep Drilling Locations

Add’l Deep Drilling Locations

Drilling or Recent Completions

Chaparral Acreage

Granite Wash Sand Play

Washita County, OK

Low-Risk Drilling Inventory

Gunter 2H-14

Peters 2H-19

Kliewer

#2-18H

Roxanne 1-17H

Granite Wash “A”, “B”

“C”

Zones

Horizontal drilling

12,000’

depth

Initial production rates:

3 –

5 mmcfpd &

200 –

500 BOPD

Gross reserves/well bcfe:

4.5

Gross CapEx / well $M:

$7.0

Company net acres:

1,510

Avg working interest:

29.5%

Potential drill locations:

Total net CapEx $MM:

$35.1

Wells planned 2008:

2008 net CapEx $MM:

$8.96

Simpson 4-26H

Gulf Coast Plays

27 sq.mi. + 15 sq.mi. planned

40 sq.mi. + 60 sq.mi. planned

Gross reserves/well bcfe:

4.5

Gross CapEx / well $MM:

$2.2

Company net acres:

54,642

Total seismic sq.mi.:

545

Avg working interest:

78%

Potential drill locations:

Total net CapEx $MM:

$96.5

Wells planned 2008:

2008 net CapEx $MM:

$21.7

Large Active Prospects

Counties with CEI interests

Exploratory Drilling Inventory

T27N-R6E

PETRA 5/1/2007 4:36:57 PM

North Burbank Unit

WI –

99.25% (operated property)

Size –

23,080 acres; Depth -

3,000’

Cum. Recovery –

316 mmbo

(primary & secondary

recovery)

Producing zone -

Bartlesville Reservoir –

2 Tier

Wells -

237 producing, 160 injection, 555 TA Prod.

Upside Potential

Polymer EOR

Phillips instituted polymer EOR Program

from 1980 –

1986 as pilot area

1,440 Acres

Production increased from 500 BOPD to

1,200 BOPD

Shut down in 1986 due to low oil price

Phillips estimated an incremental oil

recovery for the polymer block A, 1,440

acre polymer pilot flood to be 2.36 mmbo

Calumet reinstituted polymer flood on

320 acres; $6 mm cost, 15 well pattern

Return 400 + wells to production

History shows 8 –

15 BOPD per well

Enhanced Oil recovery

Infill drilling to tighter Bartlesville interval

Chaparral

Polymer Pilot

Phillips’

Polymer

Project

Enhanced Oil Recovery (EOR)

Substantial Upside with CO

Tertiary Recovery

tertiary recovery projects

Economics (4 proved reserve projects)

project inventory

4 proved reserve projects

50 additional projects identified

$1.9 billion investment over the life

of these 54 projects

Represents 8% of planned 2008

capex

pipelines

352 miles of existing line

Approximately 100 miles of

pipeline planned in 2008 and 2009

660 miles of additional CO

pipeline required for all 54 projects

$144.8 million investment

$374.2 million net cash flow

$161.2 million PV-10

3.6x ROI

49% IRR

As of 12/31/07

Camrick Area CO

Tertiary Recovery

NW Camrick Unit, Perryton Unit and Camrick Unit: 8/8 Basis

Reservoir

Morrow

Acreage

15,200

OOIP (Mmbo)

125.6

Primary oil recovery (Mmbo)

16.6

Secondary oil recovery (Mmbo)

13.1

Estimated tertiary CO2 recovery (Mmbo)

14.4

Camrick Area

Beaver & Texas Counties, OK

Contains 4% of Proved Reserves

Consists of three unitized fields

Operated with an average working interest of 54%

injection has improved gross production in

Camrick Area from 175 Bbls/day to 1,507 Bbls/day

Expansion of CO

injection operations is currently

underway and is expected to be implemented across

all units

Actual vs. forecast oil production (BOPM)

Overview

1,000

10,000

100,000

1,000,000

PHASE

PHASE 1+2

1+2+NP

1+2+NP+NW

1+2+NP+NW+3

ALL THREE UNITS

ACTUAL

Enhanced Oil Recovery (EOR)

Peak production estimated at 3,300 BOPD in Jan 2011

Edge Petroleum

High quality, concentrated, gas-oriented

asset base focused in:

South Texas

Southeast Texas

Mississippi Interior Salt Basin

Southeast New Mexico

Fayetteville / Moorefield Shale

Growth driven by drill-bit and select

acquisitions

Balanced portfolio of low-to-moderate risk

development projects and higher risk/higher

reward opportunities

Extensive 3D seismic inventory and ongoing data

acquisition and reprocessing program

Poised for growth with sizeable inventory

of projects

118 “Drill Ready”

projects

83 Bcfe of PDNP and PUD reserves

PDNP: 232 projects in 150 wells

PUD: 62 projects in 56 wells

Large exploration portfolio

Reserves as of 12/31/2007

(1)

Proved Reserves Profile

S TX

81%

SE TX

Other

PDP

49%

PUD

23%

PDNP

28%

Category

Oil

29%

Gas

71%

Mix

Region

(1) Proved reserves estimates prepared by Ryder Scott and Von Gonten.

Area

PDP

PDNP

PUD

Total

Proved

South Texas

68.4

33.1

133.5

Southeast Texas

4.2

0.5

1.4

6.1

Southeast New Mexico

2.8

3.8

0.8

7.4

Mississippi

3.7

2.3

3.0

9.0

Other

1.1

6.1

0.2

7.4

TOTAL

80.2

45.8

37.4

163.4

Ouachita

Uplift

Midland

Basin

Delaware

Basin

Val Verde

Basin

Williston

Basin

Powder

River

Basin

Greater

Green

River

Basin

San

Juan

Basin

Anadarko

Basin

Arkoma

Basin

Fort

Worth

Basin

Sabine

Uplift

North Texas

Reserves: 18.6 Bcfe, 2% of total

Production1: 3.8 mmcfe/d, 2% of total

Rocky Mountains

Reserves: 22.4 Bcfe, 2% of total

Production1: 2.6 mmcfe/d, 2% of total

Ark-La-Tex

Reserves: 29.2 Bcfe, 3% of total

Production: 5.3 mmcfe/d, 3% of total

Oklahoma City

Combined Company Total

2007 year-end proved reserves –

1,150 Bcfe

2007 average daily production –

172 mmcfe

Mid-Continent

Reserves: 757.4 Bcfe, 66% of total

Production: 72.1 mmcfe/d, 42% of total

Permian Basin

Reserves: 115.7 Bcfe, 10% of total

Production1: 20.4 mmcfe/d, 12% of total

Combined Assets

Core area

Growth area

Acreage

Field offices

Headquarters

Edge Assets

Gulf Coast

Reserves: 191.1 Bcfe, 17% of total

Production: 64 mmcfe/d, 37% of total

Mississippi Salt

Reserves: 9.0 Bcfe, 1% of total

Production: 2.4 mmcfe/d, 1% of total

Gulf Coast Becomes CPR’s Third Core Area

Totals

include

6.8

Bcfe

reserves

and

1.9

mmcfe

daily

production

from

areas

other

than

presented.

2007 Pro Forma Reserves and Production by Area

Edge Reserves

Pro Forma Reserves

Chaparral Reserves

Edge Production

Chaparral Production

Pro Forma Production

South Texas

91%

Mississippi &

Other

Permian

South Texas

85%

Permian

Mississippi &

Other

10%

Mid-Continent

82%

Gulf Coast

Permian

11%

Rocky

Mountains

Gulf Coast

Permian

15%

Rocky

Mountains

Mid-Continent

74%

Mid-Continent

42%

Gulf Coast

37%

Other

Permian

12%

R/P: 7.3 years

R/P: 24.3 years

R/P: 18.3 years

Reserves and production based on 2007 year-end data

163 Bcfe

Proved

Reserves

987 Bcfe

Proved

Reserves

1,150 Bcfe

Proved

Reserves

mmcfe/d

Net

Production

172

mmcfe/d

Net

Production

111

mmcfe/d

Net

Production

Permian

10%

Other

Gulf Coast

17%

Mid-Continent

66%

Edge current

29.9mm basic common shares outstanding

$5.31 / share

$158.8mm market cap

Transaction overview

Sources and Uses ($ millions)

Based on existing market cap of EPEX as of 7/18/2008 ($5.31 closing share price with fully diluted shares outstanding of 29.9 Million).

Secured

$1.0

Billion

Conforming

Borrowing

Base;

Availability

$414.1

Million.

Edge cash on hand and debt outstanding as of March 31, 2008.

Effect on Common Shareholders

No change of control

Bonds remain outstanding

Effect on Chaparral HY Debt

Committed borrowing base of $825 mm

$1,000 mm borrowing base available with additional hedges

Pro forma availability as of March 31, 2008 = $414 mm

Effect on Bank Debt (JP Morgan led)

Edge pro forma

7.5mm basic common shares outstanding

Total pro forma Chaparral share count: 53.0mm

Equal to 14% of combined common equity

$21.17 / share

$158.8mm market cap

Implied pro forma market cap of $1,134mm

1 : 0.2511

Exchange

Ratio

Implied

full

price

based

July

18,

2008

closing

price.

Actual

values

will

depend on trading of Chaparral common stock following the closing of the merger.

Sources

Uses

Common Stock Exchange¹

$158.8

Common Stock Exchange¹

$158.8

New Chaparral Series A Preferred Stock

143.8

Existing Edge Preferred Stock

143.8

Private Placement of Series B Preferred Stock

150.0

Refinance Existing Edge

Debt

238.3

$1.2 Billion Senior Secured Revolver2

585.9

Refinance Existing Chaparral Debt

469.0

Edge cash on hand

5.5

Other Liabilities

10.0

Transaction Costs

24.1

Total Sources

$1,044.0

Total Uses

$1,044.0

Terms of Related Preferred Stock

(1) The data provided above is a brief overview. For specific terms and conditions for the named securities please review the individual certificate of designation and

Chaparral’s Form 8-K, filed July 15, 2008. (2) Subject to reduction for equity issuances below the conversion price

Terms

EPEXP

CPR Series A

CPR Series B

Face Amount ($MM)

$144

$150

Coupon

5.75%

6.50% (8.0% PIK)

Tenor

Perpetual

11 years

Initial Conversion Price

$16.56

$65.95

$21.97

(2)

# of common converted to (MM)

8.68

2.18

6.83

Redemption Rights

Limited

Yes

Forced Conversion Rights

After Jan 2010 at

130% premium to

conversion price

After two years from

issue after meeting

certain conditions

Voting Rights

Generally none

Equal to common, except

in terms of board

selection

Board Representation

None

One board seat

Timing

Exchanged at closing

to Series A

Issued at closing in

exchange for EPEXP

Issued at closing

Holders

Publicly traded

Will be publicly traded

Magnetar Capital

Chaparral’s Approach to Valuing Edge

Conducted a thorough analysis of Edge Petroleum’s asset base,

including:

Completed an independent net asset valuation of all existing properties

Extensive analysis of corporate and asset transaction comparables in

Edge’s primary areas of operation

Completed analysis of Edge’s trading comparables

Considered relative contribution of reserves, production, cash flow and net

asset value

Agreed to 86% / 14% split based upon the following:

Relative cash flow metric weighting

Identified upside potential

Potential to access public equity markets

Asset overview

Production (Bcfe)

¹As

July

1,2008:

Chaparral

YTD

production

based

111

mmcfe/d

first

quarter

and

117

mmcfe/d

second quarter average production levels; Edge YTD production based on 48

mmcfe/d

average production. Year-to-date (YTD) production is based on first quarter

2008 reported volumes and forecasted volumes for second quarter 2008.

2007 YE Proved Reserve, PV10 and EBITDA

2008 Chaparral Cost Guidance

LOE ($/Mcfe) $2.55

$2.60

G&A ($/Mcfe) $0.52

$0.56

2007

1Q08

YTD¹

2008e

Chaparral

40.5

10.1

20.7

43 -

Edge

24.1

5.4

9.7

17 -

Total Production

64.6

15.5

30.4

60 -

Reserves

(Bcfe)

PV-10

($mm)

EBITDA

($mm)

Chaparral

987

$2,672

$197

Edge

163

610

113

Total

1,150

$3,282

Combined R/P

18.3

EBITDA is a non-GAAP measure and a reconciliation to the GAAP measure can be found in the Chaparral

Form 8-K, filed April 1, 2008 and the Edge Form 10-K, filed on March 31, 2008. Chaparral and Edge have

a different methodology to calculating EBITDA

Growth Drivers / 2008 Capex

Breakout

Organic Growth ($mm)

Development Drilling

Mid-Continent

$95

Permian Basin

$44 $3

Gulf Coast

$18

$30

Other

$25

Total Development Capex

$215

Exploratory Drilling

Mid-Continent & Other

$5 $5

Permian Basin

Gulf Coast

$18

$20

Total Exploratory Capex

$60

Enhanced Growth

EOR Projects /CO2 Infrastructure

$22 $0

$22

Planned Acquisition Growth

Minor Acquisitions

$37

2008 Combined Oil & Gas Capex

Budget

$334 mm

Chaparral

Edge

Combined