September 10,
2014
(as initially
reported)

Measurement
period
adjustment (i)

September 10,
2014
(as adjusted)

Purchase Price(i):

Shares of Pyramid common stock held by

Pyramid shareholders

4,788,085

-

4,788,085

Pyramid common stock price (September 10, 2014 closing price)

$

4.70

$

-

$

4.70

Fair value of Pyramid common stock issued

$

22,504,000

$

-

$

22,504,000

Consideration paid to Pyramid’s shareholders

-

Issuance of 100,000 shares to Pyramid affiliated persons

at $5.01 per share (September 11, 2014 closing price)

501,000

-

501,000

Fair value of Pyramid options assumed by the Company(ii)

100,500

-

100,500

Total purchase price

23,105,500

-

23,105,500

Estimated Fair Value of Liabilities Assumed:

Current liabilities

633,917

-

633,917

Noncurrent deferred tax liability(iii)

4,879,724

-

4,879,724

Other noncurrent liabilities (asset retirement obligation)

1,334,278

(390,327

)

943,951

Amount attributable to liabilities assumed

6,847,919

(390,327

)

6,457,592

Total purchase price plus liabilities assumed

29,953,419

(390,327

)

29,563,092

Estimated Fair Value of Assets Acquired:

Current assets

9,066,589

-

9,066,589

Oil and natural gas properties(iv)

10,726,715

-

10,726,715

Net other property and equipment

4,158,420

-

4,158,420

Other noncurrent assets

261,380

-

261,380

Amount attributable to assets acquired

24,213,104

-

24,213,104

Goodwill(i)

$

5,740,315

$

(390,327

)

$

5,349,988