Warren Resources, Inc. Stock

Warren Resources, Inc. is an independent energy company engaged in the exploration, development and production of domestic onshore crude oil and gas reserves. The Company's development activities are focused on waterflood oil recovery projects in the Wilmington field in California, coalbed methane (CBM) projects in Wyoming and its Marcellus Shale project that utilizes horizontal drilling and hydraulic fracturing techniques to develop dry natural gas. The Company owns natural gas and oil leasehold interests in approximately 106,330 gross (over 80,550 net) acres. All its undeveloped acreage is located in Wyoming. It has identified approximately 140 gross drilling locations in its Wilmington field units. Additionally, it has identified over 140 gross drilling locations on its acreage in Wyoming, primarily based on approximately 80-acre well spacing and over 70 gross drilling locations in the Marcellus Shale. It has interests in approximately 570 gross (over 411.3 net) producing wells.