1NYSE: GDP

2NYSE: GDP

ATTRIBUTES OF THE OIL WINDOW OF THE EAGLE FORD SHALE

ADAM – Houston

November 19, 2010

3NYSE: GDP

Proved Reserves Growth (Bcfe)

173206

358421402

2005 2006 2007 2008 2009

COMPANY PROFILE AND STRATEGY

Reserve Replacement Ratio

1088%

311%

1150%1055%

285%

2005 2006 2007 2008 2009

■ Rapidly growing onshore E&P company focused in Louisiana and Texas. Repeatable development of multiple objectives with long life reserves and near 100% success rate

■ Rapidly growing production volumes (5 yr CAGR of 34%) and reserves (5 yr CAGR of 24%)

■ Sale of non-core assets for $70 million provides additional liquidity and drives per unit operating costs lower

■ Increasing liquids volumes and cash margin expansion from Eagle Ford Shale oil development

■ Large core acreage position with 220,000 gross (185,000 net) acres in Texas and Louisiana, with approximately 7 Tcf of reserve exposure:

■ 91,000 net acres prospective in the Haynesville Shale

■ 40,000 net acres in the oil window of the Eagle Ford Shale in La Salle and Frio counties Texas

’05 – ’09 CAGR: 25%

Production Growth (Mmcfe/d)

24

43 46

82

66

2005 2006 2007 2008 2009

’05 – ’09 CAGR: 36%

4NYSE: GDP

EAGLE FORD SHALE – OIL WINDOW

■ Why the Eagle Ford Shale Oil Window

■ Excellent Rock Properties. Very good porosity (4-15%), matrix permeability (40-1,300 nd) and fracture complexity for a shale play. Allows for storage (source rock) and flow (over-pressured reservoir rock)

■ High presence of carbonate and low presence of clay allows for very effective fracs. Expect variability due to naturally occurring fractures, possible communication with other zones and pressure differences due to depth

■ Large accumulation of oil in place (25-55 MMBoe per 640 ac). Vertical well production indicates matrix flow and hyperbolic curve. Artificial lift a necessity once pressures drop

■ Early innings, but estimated recovery of 300-800 MBoe per well on 80-120 acre spacing based on 4,000 – 6,000 foot laterals

5NYSE: GDP

ACREAGE AND WELL ECONOMICS

• Eagle Ford Shale Acquisition:• Combination of leasehold acquisitions and joint ventures• Total consideration - $1,650/ac ($575/ac in cash and $1,075/ac in future drilling

carries). Average working interest of 72.5% (56% NRI). At 80-120 acre spacing yields 333 – 500 net locations

• Superior Economics:• Driven by oil prices/cash margin expansion• Eagle Ford - IRR of 45% for 6,000 foot lateral on completed well cost of $7.0

million and estimated EUR of 465 MBOE• Buda – IRR of 58% for 6,000 foot lateral on completed well cost of $3.5 million

and estimated EUR of 265 MBOE

6NYSE: GDP

EAGLE FORD SHALE TREND

Dry G

as

Wet

Gas

Oil

7NYSE: GDP

EAGLE FORD SHALE ACTIVITY-2000

-3000

-4000-5000

-6000

-7000

-8000

-9000

-10000

-11000

-12000

-5000

-4000

-6000

-10000

Anadarko 3 wells

Avg. IP: 685 BOE/day

Cabot O & G Patrick West #1HIP: 355 BOE/day

ChesapeakeTraylor North #1HIP: 980 BOE/day

EOG 3 wells

Avg. IP: 525 BOE/day

GDP

Oil Window

Gas/Condensate

Window

Blackbrush Pals Ranch #9H (Buda)

IP: 530 BOE/day

El Paso 3 wells

Avg. IP: 1,050 BOE/day

ChesapeakeLazy A Cotulla #1H

IP: 980 BOE/day

CHK

GDP Pan Am C 1H (EFS)

Completing

HK

APC

EP

EOG

COG

EP

GDP Burns Ranch A 4H (EFS)

Drilling

PetrohawkMustang Ranch #1H

IP: 350 BBL/day

PetrohawkMustang Ranch C #1H

1st 7-day Avg. (on pump): 570 BBL/day

ChesapeakeWilson A #1HCompleting

El PasoTJ Pearsall #1H

Completing

ChesapeakeBrownlow #1H

IP: 1,220 BOE/day

Cabot O & G Arminius Trust #1H

IP: 925 BOE/day

Cabot O & G Arminius Trust #2H

IP: 550 BOE/day

GDP Pan Am B 1H (EFS)

Formerly (Frances Shiner B-1)IP: 667 BOE/day

GDP Lancaster C 1H (Buda)

IP: 512 BOE/day

GDP Burns Ranch A 1H (EFS)

Completing

8NYSE: GDP

Drilling Procedure

• 1,000+ HP rig with top drive• Drill time:

• EFS - 30 days spud-to-spud (approximately 22 days to TD). Targeting 6,000 foot laterals. Spud-to-sales dependent on frac availability (two dedicated frac dates per month) and infrastructure

• Buda – 25 days drill time, 30 days spud-to-spud and spud-to-sales due to no need for stimulation

• Casing program:• Surface casing - 10 ¾” through Carrizo (~ 3,700’)• Intermediate casing – None in quiet geological areas; 7 5/8” into top of EFS or

Buda (~ 7,500’) in highly fractured areas• Production casing - 5 ½”, with 2 3/8” – 2 7/8” tubing for EFS and open hole with

tubing on Buda wells

• Mud program:• EFS – water base (vertical), oil base (lateral) • Buda – water base throughout

9NYSE: GDP

Completion Procedure

• Induce complex networks of fractures with pump-down plug and perf method

• Frac Design: • Intervals of 300-325 feet• Perforations (6 clusters, 5 shots per cluster = 30 perfs per stage) • Fluids (5,500 Bbls per stage - acid, slickwater, gel)• Proppant – 230,000 lbs per stage (100 mesh, 20/40 white, resin

coated/ceramic)• Pump rate (65 bpm, 3-5 stages per day)

• Flowback – 50-100 BPH. Artificial lift (gas lift, pump) at some point early in life of the well

10NYSE: GDP

EAGLE FORD SHALE TYPE CURVE

0

100

200

300

400

500

600

700

1 7 13 19 25 31 37 43 49 55

Production Month

No

rma

lize

d P

rod

uc

tio

n (

BO

E/d

ay

)

Low TC - 400 MBoe Mid TC - 465 MBoe High TC - 535 MBoe

11NYSE: GDP

EAGLE FORD SHALE WELL ECONOMICSEAGLE FORD SHALE WELL ECONOMICS

IRR Sensitivity - $7.0 MM Capex

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

$70.00 / $3.50 $80.00 / $4.00 $90.00 / $4.50Oil Price ($/BBL) / Gas Price ($/MMBtu)

IRR

(%

)

Low TC - 400 Mboe Base TC - 465 Mboe High TC - 535 Mboe

Note: 20:1 Gas to oil price conversion

12NYSE: GDP

BUDA LIME TYPE CURVE

0

50

100

150

200

250

300

350

400

450

1 7 13 19 25 31 37 43 49 55

Producing Month

No

rma

lize

d P

rod

ucti

on

(B

oe

/day)

Low TC - 135 MBoe Mid TC - 265 MBoe High TC - 400 MBoe

13NYSE: GDP

BUDA LIME WELL ECONOMICSBUDA LIME WELL ECONOMICS

IRR Sensitivity - $3.5 MM Capex

0%

20%

40%

60%

80%

100%

120%

$70.00 / $3.50 $80.00 / $4.00 $90.00 / $4.50Oil Price ($/BBL) / Gas Price ($/MMBtu)

IRR

(%

)

Low TC - 135 Mboe Base TC - 265 Mboe High TC - 400 Mboe

Note: 20:1 Gas to oil price conversion

14NYSE: GDP

DRILLING INVENTORY

AreaGross # of Wells

Net # of Wells

2010 Net Unrisked

Capital Expenditures

(MM)

MY10Proved

Reserves (Bcfe)

Gross Probable

and Possible Wells (2)

Net Probable

and Possible Wells (2)

Net Probable / Possible Reserve

Exposure (Bcfe) (1) (3)

Net Proved, Probable, Possible Reserve Exposure (Bcfe) (1) (3)

Louisiana:Bethany Longstreet – CV Vertical Haynesville Shale (3)

0.0026.00

0.08.0

$0.0$64.0

8177

0290

0135

0614

8791

Greenwood–Waskom / Metcalf / Johnson Branch Haynesville Shale (3) 9.0 4.0 $32.0 26 57 39 177 203

Longwood Haynesville Shale (3)

0.00.0

0.00.0

$0.0$0.0

01

0134

061

0206

0207

Texas:Beckville – CV Vertical Cotton Valley (Horizontal) Haynesville Shale (3)

0.01.01.0

0.01.01.0

$0.0$6.5$8.0

23105

8

058

163

051137

0212462

23317470

Minden – CV Vertical Cotton Valley (Horizontal) Haynesville Shale (3)

0.01.01.0

0.01.01.0

$0.0$6.5$8.0

33179

099

394

086320

0362

1,109

33379

1,118

South Henderson – CV Vertical Cotton Valley (Horizontal)

0.02.0

0.02.0

$0.0$13.0

100

066

054

0222

10222

Angelina River Trend / Shelby Trough Travis Peak / James Lime Haynesville Shale / Bossier (3)

0.04.0

0.04.0

$0.0$44.0

270

120412

44350

882,320

1152,320

Leasehold, Other 0.0 0.0 $33.0 9 0 0 0 9

Total (Shallow Objectives, Other) 4.0 4.0 $26.0 231 343 235 884 1,115

Eagle Ford Shale Trend 7.0 6.5 $35.0 1 458 333 729 730

Haynesville Shale / Bossier (3) 41.0 18.0 $156.0 220 1,450 1,042 4,888 5,108

Total 52.0 29.0 $250.0 451 2,251 1,610 6,501 6,953

(1) Internal estimate.(2) Total Inventory based on the following: 160-acre spacing on horizontal Cotton Valley (Taylor) wells at Beckville, South Henderson and 50% of Minden. James Lime horizontals at Angelina River Trend at 160-acre spacing

on Cotton Prospect acreage only, and horizontal Haynesville Shale spacing at 80 acres.(3) Haynesville Shale reserves estimated at 6.5 Bcf per well at Bethany-Longstreet, Greenwood-Waskom and Metcalf. Shelby Trough and Angelina River Trend estimated at 8.5 Bcf. Reserves of 4.5 Bcf at Longwood,

Beckville, and Minden. No estimated reserves for Bossier Shale or Buda Lime included.

2010 Capital Program2010 Capital Program Total InventoryTotal Inventory

15NYSE: GDP

POTENTIAL IMPACT OF EAGLE FORD SHALE TO GOODRICH PETROLEUM

• Liquids rich resource play allows for cash margin expansion and superior rates of return

• Oil play provides great flexibility in allocation of capital based on commodity price realizations and forecasts

• Huge resource potential for the acreage increases GDP inventory and unrisked net asset value by 10%, and by a much greater percent when factoring in the improved economics due to current premium in oil prices versus gas

• Continue to acquire acreage in our core areas primarily through JV structure (cash and carried interest)