Market Overview

Post Oak Energy Capital Leads $100 Million Capital Commitment to Saxet III Minerals, LLC


Post Oak Energy Capital, LP ("Post Oak"), through investment
partnerships it manages, today announced that it led a $100 million
equity commitment to Saxet III Minerals, LLC ("Saxet III"). The
management team will co-invest alongside Post Oak.

Houston-based Saxet Petroleum, Inc. ("Saxet") focuses on the acquisition
and management of mineral and royalty interests in prolific U.S. basins.
The Saxet team has extensive experience in all phases of the oil and gas
business and a successful track record of acquiring and managing

Saxet III is the third partnership with Post Oak and will be a
continuation of the successful strategies the Saxet management team has
employed in Saxet Minerals, LLC ("Saxet I") and Saxet II Minerals, LLC
("Saxet II"). Saxet I and Saxet II have aggregated core positions in the
SCOOP, Merge and STACK plays in Oklahoma, the Midland Basin in West
Texas and the Bakken and Three Forks plays in North Dakota. Saxet
continues to see attractive investment opportunities in these areas and

"The long-standing partnership with Post Oak has been instrumental in
helping Saxet create significant value in the minerals space," said
Saxet President Robert E. O'Brien. "We look forward to Post Oak's
continued insights and support as we build the Saxet III minerals

"Securing mineral and royalty interests is an integral part of the E & P
industry and we recognized early on that Saxet's approach and experience
would uniquely position Post Oak's portfolio," said Post Oak Managing
Director Frost Cochran. "While more players have entered the minerals
space since we partnered in forming Saxet I, we are confident that
Robert and team will continue to differentiate themselves and drive

About Post Oak Energy:

Post Oak, which was established in 2006, is an energy-focused private
investor based in Houston, Texas. Its management team has executive
management experience and a broad network in the energy business as well
as significant expertise in equity investments, operations, development,
finance, acquisitions and divestitures. The firm pursues private
investments primarily in the upstream sector of the oil and gas industry
in North America and, to a lesser extent, in oilfield service and
related infrastructure. Post Oak works in close partnership with
operating management teams to build businesses, accelerate growth and
enhance shareholder value.

About Saxet III Minerals, LLC

Saxet III Minerals, LLC is a privately held oil and gas company focused
on the acquisition and management of minerals and royalties throughout
the United States. Saxet is led by a team of industry veterans with
experience acquiring, developing and monetizing oil and gas properties,
including both working interests and mineral interests, who have
generated strong returns for their investors throughout their careers.

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