Proved Reserves	At Fiscal Yearend 6/30/2007	Additions* to 11/1/2007	At 11/1/07 Pro Forma
Proved Developed Reserves, BOE	389,628	-	389,628
Proved Undeveloped Reserves, BOE	1,333,953	805,057	2,139,010
Total Proved Reserves, BOE	1,723,581	805,057	2,528,638
Estimated Future Net Revenues  Discounted at 10%, Proved (PV-10)	$33,327,359	$13,657,109	$46,984,468
PV-10 Per Share Outstanding	$1.24	$0.51	$1.75
Cash Per Share Outstanding , est. 11/1/07  (including 1031 exchange account,  net of income tax payable; unaudited)	$1.04	($0.14)	$0.90
Net Undeveloped Acreage, 11/1/07	8,003	11,497	19,500

* For comparative purposes, estimated future net revenues in the Supplemental Report dated 11/1/07 were calculated using June 30, 2007 NYMEX prices of $70.68 per BO and $6.795 per MCF, adjusted for expected basis differentials to our fields, being the same prices used in our June 30, 2007 annual report, before tax.

In the above table: BOE is barrels of oil equivalent, Revenues per Share Outstanding and Cash Per Share Outstanding are based on 26,776,234 shares outstanding as of November 1, 2007, and $24 million of unrestricted cash is estimated as of November 1, 2007.

Probable Reserves
Delhi Holt Bryant Unit*   

	Overriding Royalty Interest	3.5 – 4.8	MMBO
	Reversionary Working Interest	8.5 – 11.3	MMBO

* Based on incremental recovery of 12% - 16% of estimated OOIP in Unit reservoirs, dedication of proved CO2 reserves to project, financial commitment of Unit operator to installing CO2-EOR project, successful pilots in Unit, successful CO2 EOR projects in region and ongoing construction of CO2 pipeline to Unit.

Acreage
EPM holds 11,500 net acres in the Giddings Field of central Texas and is developing new development drilling locations for its inventory. EPM also holds approximately 13,000 acres in the Mid-Continent Region within two gas shale projects under evaluation.