• Tenaris SA, Luxembourg, (NYSE: TS) plans to acquire Maverick Tube Corp., Chesterfield, Mo., (NYSE: MVK) for US$65 per share in cash for a total deal value of US$3.2 billion, including Maverick's net debt. The deal represents a premium of approximately 42% to the Maverick share price. Tenaris will finance the acquisition with cash on hand and debt, for which bank commitments have already been secured. Maverick is a producer of welded oil country tubular goods, line pipe and coiled tubing for use in oil and natural gas wells. With operations in the United States, Canada and Colombia, it has a combined annual capacity of 2 million short tons of steel pipe from one-quarter to 16 inches. Maverick has approximately 4,650 employees and in 2005 had sales of US$1.8 billion, of which 82% were from its energy products division. Tenaris is a global producer of seamless steel pipe for the oil and gas industry worldwide. The companies had a cumulative U.S. and Canadian market for OCTG products of more than 5 million tons in 2005, or approximately 40% of total world demand. Goldman Sachs & Co. is financial advisor to Tenaris, and Morgan Stanley & Co. is financial advisor to Maverick. • New York-based hedge fund Jana Partners LLC is offering to acquire The Houston Exploration Co., Houston (NYSE: THX) for $62 per share for a total deal value of $1.8 billion. THX has assets primarily in South Texas, Arkansas' Arkoma Basin, the Rockies and East Texas. Production is approximately 313 million cu. ft. of gas equivalent per day with net proved reserves of approximately 675 billion cu. ft. of gas equivalent. The company operates approximately 80% of its production Lehman Brothers Inc. is financial advisor to THX, and Akin Gump Strauss Hauer & Feld LLP is legal advisor. • Coldren Resources LP, a subsidiary of privately held Coldren Oil & Gas Co., New Orleans, plans to acquire the Gulf of Mexico shelf assets of Noble Energy Inc., Houston, (NYSE: NBL) for $625 million. The properties are approximately 725,000 gross (423,000 net) leasehold acres involving 54 total fields, which contain 520 wellbores (132 operated) and 158 platforms (27 operated). The sale includes essentially all of Noble's assets on the Gulf shelf, with Noble retaining its interest in the Main Pass area, currently undergoing repair. Production is approximately 5,000 bbl. of oil and 90 million cu. ft. of gas, or approximately 20,000 BOE, per day (64% operated). Proved reserves are 7 million bbl. of oil and 120 billion cu. ft. of gas for a combined total of 27 million BOE. Randall & Dewey and J.P. Morgan were advisors to Noble and Credit Suisse and Bank of America NA were advisors to Coldren, which was formed in August 2005 with a $100-million investment from First Reserve Corp. • Tom L. Ward has acquired a majority stake in privately held Riata Energy Inc., Amarillo, Texas, from the company's founder, Malone Mitchell, and other shareholders for $500 million. Ward acquired 29 million shares at $17.25 each and expects to retain 23.2 million shares after transferring 5.8 million to a family-held limited liability company. He has joined Riata as chairman and chief executive. Ward will enter a three-year employment agreement, and Mitchell plans to enter a similar agreement. Riata has assets in West Texas including Pinon Field and in western Colorado in the Piceance Basin with total daily production of 30 million cu. ft. of gas equivalent and proved reserves of 309 billion cu. ft. of gas equivalent. Riata also owns midstream assets in the Pinon Field and CO2 production in the Texas Wasson Field. Ward was president and chief operating officer of Oklahoma City-based Chesapeake Energy Corp. Mitchell will retain approximately 22 million shares and continue as president and COO of Riata. As a result of the deal, Riata has delayed its IPO. • Range Resources Corp., Fort Worth, Texas, (NYSE: RRC) has acquired privately owned Fort Worth, Texas-based Stroud Energy Inc. for approximately $426 million in cash and stock. The deal value includes the assumption of $107 million in debt. Range gains assets in central Oklahoma and the Barnett Shale and the Cotton Valley Sand in Texas. Total production gained is 33 million cu. ft. of gas equivalent per day; total reserves, approximately 370 billion equivalent, including 171 billion equivalent proved. Stroud had interests in 126 producing wells and 87,200 gross acres (67,000 net). • Energy XXI Gulf Coast Inc., Houston, (London AIM: EGY) plans to acquire onshore and offshore Louisiana properties for US$330 million in cash and certain other consideration. Energy XXI estimates proved and probable reserves at more than 25 million BOE (16 million proved; 90% gas). Production is approximately 33 million cu. ft. equivalent per day, and there are two rigs under contract. • PEC Minerals LP plans to acquire Sempra Energy Production Co., the E&P subsidiary of Sempra Generation, a unit of Sempra Energy, San Diego, (NYSE: SRE) for approximately $225 million in cash. Assets include mineral rights in more than 570,000 net acres and executive rights to more than 190,000 net acres in 31 states. The company also owns 6,000 surface acres in five states. Petrie Parkman & Co. was financial advisor to Sempra. PEC Minerals is owned by Jetta Operating Co., Houston, Trevor Rees-Jones and Providence Energy Corp., Providence, R.I. (NYSE: PVY). • Penn Virginia Corp., Radnor, Penn., (NYSE: PVA) has acquired privately owned Tulsa, Okla.-based Crow Creek Holding Corp. for $71.5 million in cash, gaining operations primarily in the Oklahoma portions of the Arkoma and Anadarko basins. The acquisition was funded from Penn Virginia's existing bank facility. Crow Creek had estimated total net proved reserves of 42.7 billion cu. ft. equivalent (85% gas) and daily net production of approximately 6.2 million equivalent. • Denbury Resources Inc., Dallas, (NYSE: DNR) has acquired the Delhi Holt-Bryant Unit in northern Louisiana from Natural Gas Systems Inc., Houston, (OTCBB: NGSY) for $50 million. Denbury will receive an initial 100% working interest and 80% net revenue interest in the unit, while Natural Gas Systems retains a 4.8% royalty interest and a 25% working interest in other depths. Denbury will also grant a 25% reversionary interest to Natural Gas Systems after Denbury has achieved $200 million in net operating revenue. Denbury used its unused bank credit line to fund the acquisition. • Lime Rock Resources, Houston, has acquired working interests in the East Artesia/Red Lakes area of southeastern New Mexico for $28 million, and working interests in the Black Bayou and Doyle Creek fields in East Texas for $20.8 million from private sellers. The New Mexico assets involve net proved reserves of 1.7 million BOE and net probable of 800,000 BOE. The assets are operated by SDX Resources. The East Texas assets involve net proved reserves of 8.7 billion cu. ft. of gas equivalent, and 16.5 billion equivalent of net probable and possible reserves. The fields will continue to be operated by Southwestern Energy Co., Houston (NYSE: SWN). • Exco Resources Inc., Dallas, (NYSE: XCO) has acquired producing and undeveloped properties in the Cotton Valley trend in East Texas from a privately held company for $51.6 million ($52.3 million after contractual adjustments). The assets consist of 100% working interest in approximately 2,000 net acres of leasehold, 10,500 net undeveloped acres, estimated proved reserves of 28.3 billion cu. ft. of gas equivalent (99% gas; 51% proved developed producing) and 10 billion cu. ft. equivalent of probable reserves. Production is approximately 4.3 million cu. ft. of gas equivalent per day. The purchase was financed from Exco's revolving line of credit and cash on hand. Exco's acquisitions since February have involved 223 billion cu. ft. of gas equivalent of proved reserves, 1,533 proved drilling locations and approximately 13 million cu. ft. of gas equivalent of daily production. • Bankers Petroleum Ltd., Calgary, (Toronto; London AIM: BNK) has acquired approximately 250,000 net acres in the northern and central United States from Vintage Petroleum LLC for C$30 million in cash and stock. The assets are in the Arkoma and Ardmore basins of Oklahoma, the Black Warrior Basin of Mississippi and Alabama, and the Appalachian Basin in New York. Bankers financed the deal with US$10 million in cash and approximately 26 million shares at C$0.88 each. • Gulf Coast Oil Corp., a subsidiary of New Century Energy Corp., Houston, (OTCBB: NCEY) plans to acquire producing properties from privately held Manti Resources Inc., Corpus Christi, Texas, and its affiliates for $33 million. The assets include 9,167 gross acres (8,675 net) of developed and undeveloped mineral leases in McMullen County, Texas. Total proved reserves are approximately 784,000 BOE (95% oil), with current production at approximately 600 BOE per day (90% oil) from 12 wells. New Century Energy is the operator. New Century funded the acquisition from the proceeds of a $40-million secured term note sold to Laurus Master Fund. • Privately owned Resaca Exploitation LP, Houston, an affiliate of Houston-based Torch Energy Advisors Inc., has acquired the Permian Basin assets of privately owned SDG Resources LP, Montrose, Colo., for $83.7 million in cash. Petrie Parkman & Co. advised SDG. NGP Capital Resources Co. provided a senior secured credit facility and a senior subordinated secured convertible term loan to Resaca to finance the transaction and develop the assets. • Lukoil, Moscow, (London: LKOD) has acquired the E&P businesses in the Khanty Mansiysk region of western Siberia, Russia, from Marathon Oil Corp., Houston, (NYSE: MRO) for approximately $858 million in cash and working capital. Lukoil paid $787 million in cash plus preliminary working capital and other closing adjustments of approximately $66 million. • Endeavour Energy UK Ltd., a subsidiary of Endeavour International Corp., Houston, (Amex: END) plans to purchase Talisman Expro Ltd. from Talisman Energy Inc., Calgary, (NYSE: TLM) for US$414 million. Talisman Expro's assets involve four areas of the Central U.K. North Sea with net production of approximately 9,200 BOE per day, proven reserves of 12.8 million BOE and proven and probable reserves of 18 million equivalent. Endeavour plans to close the deal before year's end. • Talisman Energy Canada, a subsidiary of Talisman Energy Inc., Calgary, (Toronto; NYSE: TLM) has sold non-strategic assets in Canada in 18 agreements for a total of C$379 million, consisting of C$371 million in cash and C$8 million in land and other assets. The divested assets produce approximately 7,000 BOE per day, and involve proved reserves of 16 million BOE. Thirteen transactions have been completed and it is expected that all 18 agreements will close by July 19. Tristone Capital Inc. was financial advisor to Talisman on all the sales. • CanWest Petroleum Corp., Calgary, (OTCBB: CWPC) plans to merge with privately held Oilsands Quest Inc., Calgary, for one CanWest share per 7.95 exchangeable shares of Oilsands. The combined company would have a market capitalization of approximately US$1.3 billion. CanWest Petroleum owns a 59.5% interest in Oilsands, which in turn owns 100% of exploration permits covering 508,000 net acres in northwest Saskatchewan. TD Securities Inc. is financial advisor to CanWest Petroleum, and CIBC World Markets Inc. is financial advisor to Oilsands. • U.S. Energy Overseas Investments LLC, a subsidiary of U.S. Energy Systems Inc., New York, (Nasdaq: USEY) has acquired Viking International Petroleum, a subsidiary of Vtex Energy Inc., Houston, (OTCBB: VXEN) in exchange for a participating convertible preferred interest to receive 10% of the net cash flow of Overseas and, at Vtex's option, to convert this into 1.9 million U.S. Energy Systems shares. Vtex will also receive five-year warrants to purchase 500,000 U.S. Energy Systems shares at $8, $9 and $10 each. Upon making the contribution, Vtex will reduce its debt by approximately $850,000. • Hess Corp., New York, (NYSE: AHC) plans to sell all its onshore producing assets along the Gulf Coast of Texas, Louisiana and Mississippi to an undisclosed privately held producer. Most of the properties are in seven parishes in south Louisiana, and they include some 65 producing wells in 12 fields that currently produce at a total net rate of approximately 2,600 BOE per day. The deal is to close in June. Tristone Capital Inc.was an advisor to Hess. • Privately owned Bonanza Creek Energy Co. LLC, Bakersfield, Calif., has acquired producing properties in Jackson County, Colo. The purchase includes 55 wells in the Pierre B Sandstone, Dakota and Lakota formations and 29,000 gross fee acres and leasehold interests prospective from multiple horizons, including the Niobrara formation and coals containing coalbed-methane potential. Bonanza Creek has assets in Weld and Jackson counties, Colorado, and Kern County, Calif. Rivington Capital Advisors LLC was financial advisor to Bonanza Creek.

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