Great Plains Oil and Gas Reserves Review

Great Plains’ reserves have been evaluated by independent reserve evaluators, GLJ Petroleum Consultants Ltd. (GLJ), and Sproule Associates Ltd. (Sproule) as at December 31, 2009, in accordance with National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities (NI 51-101).  GLJ evaluated and prepared reports on the quantity and estimated future cash flows of the crude oil and natural gas properties in which Great Plains has an interest, other than those in Northeast British Columbia.  Sproule evaluated and prepared reports on the quantity of estimated future cash flows of the crude oil and natural gas properties in Northeast British Columbia in which Great Plains has an interest.  GLJ evaluated approximately 52.4% of Great Plains' total proved plus probable reserves and Sproule evaluated approximately 47.6% of Great Plains' total proved plus probable reserves.  All of the Great Plains' reserves were evaluated using the price and cost assumptions of GLJ as at January 1, 2010.

The following table summarizes certain information contained in the reserve reports. Additional reserve disclosure tables, as required under NI 51-101, are contained in the Annual Information Form of Great Plains which was filed on SEDAR. The reserve estimates contained in the following table are working interest reserves before the Company’s royalty interest, and before the deduction of royalties.

Summary of Oil, Natural Gas and NGL Reserves Based on Forecast Price and Cost Assumptions Effective as of December 31, 2009