X0303 4 2010-06-04 0001473061 PostRock Energy Corp PSTR 0001440974 Hammond Gabriel Arce 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001427131 SteelPath Capital Management LLC 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001492041 SP Opportunity Advisors IV LLC 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001490671 SP Opportunity Partners IV LP 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001492350 SP Opportunity Advisors IX LLC 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001490659 SP Opportunity Partners IX LP 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001492340 SP Capital Advisors LLC 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001298280 SCM Capital Partners LP 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001492349 SP Focus Advisors LLC 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 0001370844 SP Focus Partners LP 2100 MCKINNEY AVENUE 14TH FLOOR DALLAS TX 75201 1 0 1 0 Common Stock 2010-06-04 4 S 0 2400 4.87 D 992020 I Through funds Common Stock 2010-06-04 4 S 0 972 4.87 D 789419 D Common Stock 2010-06-04 4 S 0 1363 4.87 D 137517 D Common Stock 2010-06-04 4 S 0 33 4.87 D 49674 D Common Stock 2010-06-04 4 S 0 32 4.87 D 15410 D Common Stock 2010-06-07 4 S 0 3800 4.80 D 988220 I Through funds Common Stock 2010-06-07 4 S 0 400 4.80 D 789019 D Common Stock 2010-06-07 4 S 0 1221 4.80 D 136296 D Common Stock 2010-06-07 4 S 0 81 4.80 D 49593 D Common Stock 2010-06-07 4 S 0 2098 4.80 D 13312 D These shares were sold pursuant to a 10b5-1 trading plan as described below. The prices reported in Column 4 are weighted average prices. The Reporting Persons (as defined below) undertake to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4. These shares were sold in multiple transactions on June 4, 2010 at prices ranging from $4.78 to $4.99, inclusive. These shares may be deemed to be beneficially and indirectly owned by SteelPath Capital Management LLC ("Management") and Gabriel A. Hammond, a director of the issuer. Management serves as investment advisor to the funds listed in this report. Mr. Hammond is the manager and a member of Management and of each of the general partners. Each of Mr. Hammond and Management disclaims beneficial ownership of such shares except to the extent of their respective pecuniary interest therein and this report shall not be deemed an admission of beneficial ownership of such shares for purposes of Section 16 or for any other purpose. These shares were sold by SP Opportunity Partners IV LP pursuant to a 10b5-1 trading plan dated May 18, 2010. SP Opportunity Advisors IV LLC is the general partner of SP Opportunity Partners IV LP and may be deemed to be the indirect beneficial owner of these shares. These shares were sold by SP Opportunity Partners IX LP pursuant to a 10b5-1 trading plan dated May 18, 2010. SP Opportunity Advisors IX LLC is the general partner of SP Opportunity Partners IX LP and may be deemed to be the indirect beneficial owner of these shares. These shares were sold by SCM Capital Partners LP pursuant to a 10b5-1 trading plan dated May 18, 2010. SP Capital Advisors LLC is the general partner of SCM Capital Partners LP and may be deemed to be the indirect beneficial owner of these shares. These shares were sold by SP Focus Partners LP pursuant to a 10b5-1 trading plan dated May 18, 2010. SP Focus Advisors LLC is the general partner of SP Focus Partners LP and may be deemed to be the indirect beneficial owner of these shares. These shares were sold in multiple transactions at prices ranging from $4.75 to $4.86, inclusive. Gabriel Hammond, Management, SP Opportunity Partners IV LP, SP Opportunity Advisors IV LLC, SP Opportunity Partners IX LP, SP Opportunity Advisors IX LLC, SCM Capital Partners LP, SP Capital Advisors LLC, SP Focus Partners LP and SP Focus Advisors LLC (collectively, the "Reporting Persons") may be deemed members of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934. Mr. Hammond may be deemed to serve on the board of directors of the issuer as a representative of each of the aforementioned entities and such entities may be deemed to be directors by deputization. The filing of this report and the inclusion of information herein shall not be considered an admission that any Reporting Person is in fact a member of such a "group" or that such Reporting Person has any liability or obligation under Section 16(b) of the Exchange Act in connection with any such "group" or that for purposes of Section 16 or any other purpose, such Reporting Person is the beneficial owner of any securities in which such Reporting Person does not have a pecuniary interest. Each Reporting Person expressly disclaims beneficial ownership of the shares reported herein to the fullest extent permitted by applicable law. /s/ Gabriel A. Hammond 2010-06-08 /s/ Gabriel A. Hammond, manager of SteelPath Capital Management LLC 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Opportunity Advisors IV LLC 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Opportunity Advisors IX LLC 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Capital Advisors LLC 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Focus Advisors LLC 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Opportunity Advisors IV LLC, general partner of SP Opportunity Partners IV LP 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Opportunity Advisors IX LLC, general partner of SP Opportunity Partners IX LP 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Capital Advisors LLC, general partner of SCM Capital Partners LP 2010-06-08 /s/ Gabriel A. Hammond, manager of SP Focus Advisors LLC, general partner of SP Focus Partners LP 2010-06-08