Jackson Energy, Inc. Total equity Total debt 57,931 15,567 Exploration and Production Refining & Marketing Petrochemicals Wide Palin Petroleum Corsicana Energy Corp. Worthington Petroleum Bexar Energy Kirk Corp White Point Energy Petrarch Fuel Services Arkana Petroleum Corp. Beaumont Energy, Inc. Dameron Fuel Services 46,089 42,263 27,591 60,356 9,204 2,460 18,363 32,662 48,796 6,480 39,375 6,442 13,098 6,200 3,017 1,925 (296) 5,931 6,743 24,525 Equity weight 89.9% 53.9% 86.8% 67.8% 90.7% 83.8% 82.7% 113.7% 75.6% 82.9% 66.6% Debt weight 10% 46% 13% 32% 9% 16% 17% -14% 24% 17% 33% average risk free 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% 4.8% credit spread 1.6% 1.6% 1.6% 1.6% 1.8% 1.8% 1.8% 1.35% 1.35% 1.35% 1.35% Cost of Debt 6.400% 6.400% 6.400% 6.400% 6.600% 6.600% 6.600% 6.150% 6.150% 6.150% 6.150% average risk free Equity market premium stock beta 4.8% 5% 0.89 4.8% 5% 1.21 4.8% 5% 1.11 4.8% 5% 1.39 4.8% 5% 1.7 4.8% 5% 4.8% 4.8% 4.8% 5% 5% 5% 4.8% 5% 4.8% 5% 0.94 1.78 0.24 1.25 1.04 1.42 Cost of equity 9.2500% 10.8500% 10.3500% tax rate 40% 40% 40% WACC 8.71% 7.62% 9.49% 11.7500% 40% 9.20% 13.3000% 9.5000% 40% 40% 12.43% 8.60% 13.7000% 40% 12.02% 6.0000% 40% 6.32% 11.0500% 40% 9.25% 10.0000% 40% 8.92% 11.9000% 40% 9.15%