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BLUE RIDGE MOUNTAIN RESOURCES

Forward-Looking Statements 2 • In general.Blue Ridge Mountain Resources, Inc., together with its subsidiaries and affiliates, is referred to in this presentation (this

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Text of BLUE RIDGE MOUNTAIN RESOURCES

BLUE RIDGEMOUNTAIN RESOURCES2Q17 Corporate PresentationAugust 2017Forward-Looking Statements2 In general. Blue Ridge Mountain Resources, Inc., together with its subsidiaries and affiliates, is referred to in this presentation (this Presentation ) as BRMR or the Company. This Presentation has been prepared by the Company for BRMR s stockholders and their potential transferees, solely for informational purposes. No offer to purchase or sell securities. This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any security and may not be relied upon in connection with the purchase or sale of any security. You are cautioned against using this information as the basis for making a decision to purchase any security. Forward-looking statements. This Presentation contains forward-looking statements regarding the Company, based on the Company s current expectations, and includes statements regarding acquisitions and divestitures, estimates of future production, futureresults of operations, quality and nature of assets, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words suchas expects , projects , anticipates , plans , estimates , potential , possible , probable , or intends , or stating that certain actions, events or results may , will, should or could be taken, occur or be achieved). Statements concerning oil and gasreserves also may be deemed to be forward-looking statements in that they reflect estimates based on certain assumptions that the resources involved can be economically exploited. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to: (i) the risks of the oil and gas industry (for example, operational risks in exploring for, developing and producing natural gas, natural gas liquids and crude oil; risks and uncertainties involving geology of oil and gas deposits; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to future production, costs and expenses; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; health, safety and environmental risks; and risks related to weather such as hurricanes and other natural disasters); (ii) uncertainties as to the availability and cost of financing; (iii) fluctuations in oil and gas prices; (iv) risks associated with derivative positions; (v) inability to realize expected value from acquisitions; (vi) inability of the Company to execute its plans to meet its goals; (vii) shortages of drilling equipment, oil field personnel and oil field services; (viii) unavailability of gathering systems, pipelines and processing facilities; and (ix) the possibility that government policies may change or governmental approvals may be delayed or withheld. You are cautioned thatany forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of Company management at the time the statements are made. The Company does not assume any obligation to update forward-looking statements should circumstances or management s estimates or opinions change. No reliance, no update and use of information. You should not rely on this Presentation as the basis upon which to make any investment decision concerning BRMR s common stock. To the extent that you rely on this Presentation in connection with any suchinvestment decision, you do so at your own risk. This Presentation does not purport to be complete on any topic addressed andthe information contained in this Presentation may not provide, and is not intended to provide, all information that may be relevantto an investment decision with respect to BRMR s common stock. The information contained in this Presentation is provided to you as of the dates indicated and circumstances may have changed since those dates. The Company undertakes no duty to update the information contained in this Presentation, even in the event that the information becomes materially Statements3 Additional information; investor website. In accordance with the requirements of BRMR s stockholders agreement (the Stockholders Agreement ), BRMR makes certain information available to its stockholders and their prospective transferees on a password protected investor website. The information available on BRMR s investor website includes the Company s quarterly and year-end financial results. In order to access BRMR s investor website, you must confirm to BRMR that you are a stockholder, or a prospective transferee of a BRMR stockholder, and agree to abide by the terms of the Stockholders Agreement regarding confidentiality. If you are a BRMR stockholder, or a prospective transferee of a BRMR stockholder, and desire to access BRMR s investor website, please contact by email for assistance. Non-reporting issuer. BRMR s common stock is not registered under Section 12 or subject to Section 15(d) of the Securities Exchange Act of 1934, as amended (the Exchange Act ), and the Company is not subject to the periodic and current reporting requirements of Section 13 or Section 15(d) of the Exchange Act. The periodic financial and other information provided on the Company s investorwebsite does not contain all of the information that would be required to be filed with the Securities and Exchange Commission by an issuer pursuant to Form 10-K, Form 10-Q or Form 8-K under the Exchange Act or in any registration statement under the Securities Act of 1933, as amended. Restrictions on transfer. BRMR s common stock is subject to certain restrictions on transfer set forth in the Stockholders Agreement and under applicable law. Non-GAAP financial measures. This Presentation may contain certain financial measurements not recognized under accounting principles generally accepted in the United States, or GAAP. You are advised that this Presentation does not contain reconciliations of non-GAAP financial measures to financial measures of performance prepared in accordance with GAAP. Reserve estimates. This Presentation contains information concerning the Company s proved reserves, which are those quantities of natural gas and oil that by analysis of geoscience and engineering data can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods and government regulations. In this Presentation, the Company also provides information concerning Resources, which includes probable reserves, possible reserves and contingent resources, which represent the Company s internal estimates of volumesof natural gas and oil that are not classified as proved reserves but are potentially recoverable through exploratory drilling or additional drilling or recovery techniques. The term contingent resources is a broader description of potentially recoverable volumes than probable and possible reserves. Estimates of unproved resources are by their nature more speculative than estimates of provedreserves and accordingly are subject to substantially greater risk of actually being realized by the Company. Such estimates have not been reviewed by independent engineers. Estimates of unproved resources may change significantly as development provides additional data, and actual quantities that are ultimately recovered may differ substantially from prior estimates. Knowledge and experience. You acknowledge that you are knowledgeable and experienced with respect to the financial, tax and business aspects of the information contained in this Presentation and that you will conduct your own independent financial, business, regulatory, accounting, legal, and tax investigations with respect to the accuracy, completeness and suitability of the information contained in this Presentation should you choose to use or rely on such information, at your own risk, for any purpose. No tax, legal, accounting or investment advice. This Presentation is not intended to provide, and should not be relied upon for, tax, legal, accounting or investment advice. Any statements of federal tax consequences contained in this Presentation were not intended to be used and cannot be used to avoid penalties under the Internal Revenue Code or to promote, market or recommend to another party any tax related matters addressed Private company focused on the Utica and Marcellus shales in West Virginiaand Ohio OTC Grey Market ticker: BRMR Production ~ 82 mmscfe/d (80% gas) Proved reserves ~ 372 bcfe Resource ~ tcfe 45% ownership in Eureka Midstream gathering system Total Debt ~ $58mm Net Operating Losses (NOLs) offset income taxes into the foreseeable future Head Office in Irving, TXNote: All figures as of June 30, 2017Blue Ridge Mountain ResourcesFinancial Strength Operational ExcellenceLeadership CapabilityCore Asset GrowthClean Balance SheetMaximizing the Value of our Core AssetsGrowth Potential 700+ gross wells in the Utica/Marcellus Core Areas 10+ year inventory to support a 1 rig programLeadership Strong management team with deep industry and regional experienceFinancial Strength Self-funded growth based on 1 operated rig in 3Q17 and 1 non-operated rig program beginning in 1Q18 Clean balance sheetOperational Excellence Development program built to maximize IRRs of the best wells and take advantage of sunk capital Accrue value and returns via strategic partnerships5Blue Ridge Mountain ResourcesMarcellus Wet gas window in West Virginia and Ohio Company net acres1~ 80,600 (77% HBP) Net production = 60 mmcfe/dUtica Consolidated dry and wet gas windows in Ohio and West Virginia with working interest > 80% Company net acres1~ 110,000 (55% HBP) Net production = 6 mmcfe/dEureka Midstream Strategic Investment in Eureka MidstreamUtica/Marcellus Core Growth Mature assets with a predictable decline and cost basis West Virginia and Kentucky waterfloodsSOLD 2Q17 Shallow wet and dry gas assets with associated gathering and processing facilities in Kentucky and Tennessee Shallow dry gas assets with associated gathering in Arkoma (MHP) Bakken in Divide County, North Dakota: SOLD 2Q17 Net production = 13 mmcfe/d remainingNon-CoreWest Virginia and Ohio Shallow, low cost, dry gas, w/ majority HBP deep rights Net production = 3 mmcfe/dLegacy BakkenDivide CountyArkoma Coal Bed Methane (MHP)Rogersville Shallow Gas Processing (MHP)Eureka MidstreamLegacyWaterfloodsNotes: 1) Within Utica/Marcellus type curve areas. All figures as of June 30, 20176Asset Overview7Leadership Team Over 1,200 Utica/Marcellus wells drilled Brought online over bcfe/d of Utica/Marcellus production Over $10 bn in M&A transactions completed at MOIC > $30 mm in midstream cost of service savings via AMI swaps, planned construction modifications, and contractual negotiations 25-35% reduction of transportation and compression fees compared to peers on the same system8Leadership Team2Q17 Summary9Continuing Operations 2Q $mm( )Severance Tax$ Price$ Costs$ Costs$/mscfe2Q Strategy Delivery11Asset Development Plan Identified pad location for first developments in highest return core acreage Permits for first 8 wells on the Upper and Lower Ormet well pads received Permits for 4 wells on the Wells Meckleywell pad submitted Rig contract signed with H&P Drilling for Rig #611 BP gas marketing agreement commenced Pad construction permit for the Pool well pad (Dry Gas Central) submittedNon-Core Divestitures Target $60+ mm in 2017 non-core divestments with $41 mm completed through 2Q 2Q total divestments of $ mm (Bakken ($ mm), equipment ($ mm))Organizational Competency Filled remaining key leadership roles including: Director Drilling & Completions Manager EH&S Production SuperintendentUpdates to plan Added 2 planned laterals to the Lower Ormet well pad through planned acreage swaps while increasing the average planned lateral length from 5,000 to 8,000 Events12Non-Core Divestitures Additional $ mm of non-core divestments post-2Q including: Two high operating cost waterfloodsin West Virginia Non-core acreage in West Virginia Shares in a Canadian mining companyAsset Development Plan BP NGL marketing agreement initiated with month over month improvement in NGL revenues of 27%H&P -Rig 61113H&P Rig 611 FlexRigTM3 AC Electric w/ Walking Substructure(modified) Mobilization date August 14, 2017 Top Drive TDS-11HT 500t Walking System 2,640,000# capacity Mud Pumps 3 x 1,600 HP High Pressure Fluid ends BOP Equipment 10M 3-Ram, 5M Annular Mud System 1,150 bbltotal active capacityCommodity Hedging Summary14 NaturalGashedges currentpositions: 2WayCollars=84%ofhedgedvolumes Swaps=16% Price ($/mmbtu)% Hedged (as a % of Future Production)HedgedForward CurveFloorCeilingAsofJune30,2017152017 and Beyond16Blue Ridge Mountain Resources Utica and Marcellus pure play; non-core divestitures provide development capital Maximize and accelerate value through retention and development of high-value core assets Initially develop partially drilled well inventory New development concentrated on highest return core acreage inventory and timed for progressive company operational capability Land strategy that continuously high grades and consolidates acreage position and extends/renews high value core acreage for future development Enhances company value via bolt-on acquisitions in higher quality rock proximate to current core area of operationsBlue Ridge Mountain Resources aspires to become a leading operator in the Appalachia Basin that performs in the top quartile of EHS, operational and financial performanceNon-core DivestituresAsset Development PlanOrganizational competencyNon-core Divestitures1 Operated Rig Position for additional liquidityAdd InventoryEvaluate ChoicesMaximize Growth Trajectory1H172H171H1817Why Focus on Utica/Marcellus? Utica/Marcellus are world class, low cost, gas basins Management operational and commercial expertise with top of class completion and execution experience Gathering system largely in place with limited build-out required Firm transportation portfolio provides flexibility on options for netback optimization with new downstream projects planned Consolidated, with high working interest, acreage position in excellent rock drives: Operational efficiencies Gathering system leverage Manageable step outs Core acreage in West Virginia substantially held by production providing development optionality over time18Non-Core Asset Divestments Divestment of non-core assets to focus the company within the Utica/Marcellus shale and release cash to be reinvested into the core growth areas Non-Core Other Assets includes buildings, construction equipment, T500XD drilling rig and non-contiguous landTargeting $60+ mm in 2017 non-core divestmentsOperatorshipTimingCommodityEf fectiveNet AcresProduction(mmscfe/d)ProvedReserves( bcfe)1Non-CoreBakken(SOLD)Majoritynon-op erated2QOil38, (SOLD)Operated2QOil11, GasOperated2HNatural Gas100, AssetsN/AVariousN/AN/AN/AN/ABakkenDivide CountyArkomaCBMRogersville processingShallow gasWaterfloods (WV&KY)Notes 1) Remaining Proved Reserves based on $ $ flat price19By Mid-2018, we expect to Consolidated asset base around the Utica/Marcellus core acreage Increased EBITDA by: Renegotiated NGL and gas marketing agreement Realigned gas flows to minimize transportation costs Secured limited secondary capacity at better than base rates Delineated Retrograde 0-40 and Ritchie areas Developed a track record enabling us to source incremental capital: 5 quarters of operating activity & EBITDA positive operations 3 quarters of drilling activity and acreage delineation Created a company that is proportional in terms of: Material, but sustainable, production Remaining well inventory Reasonable scale of upside areas Leveraged and balanced midstream/financial commitments Positioned for growth: Acquisition and increased development paceUtica / Marcellus Core Growth20 World class basin Wet & dry Utica and wet Marcellus exposure Production ~ 66 mmscfe/d Company net acres ~ 188,000 (65% HBP d) Reserves ~ 329 bcfe Resource ~ tcfe 700+ gross locations2017 1 Operated rig program beginning in 3Q Develop core Delineate high potential areasNotes: Effective net acres in Utica/Marcellus type curve areas. All figures as of June 30, 2017Marcellus21Overview Consolidated position in wet gas window Majority Operated Company net acres ~ 80,600 (77% HBP d) Remaining gross well locations > 400 34 producing operated wells1Q18 Drill 5 wells on existing pad in Tyler County, WV Average lateral length ~7,350 ft. > 90% working interest High return (IRR >60% at forward curve) Limited infrastructure buildout requiredMonroeEUR: bcfeIRR: 41%PV10: $5mmTylerEUR: bcfeIRR: 40%PV10: $6mmNotes: Based upon individual single well returns; Lateral Length: 7,500ft;IRRs based on $ $ flat price; Remaining gross well locations includes all type curve areasUtica22Overview Consolidated position in dry gas window Majority Operated Company net acres ~ 110,000 (55% HBP d) Remaining gross well locations > 375 5 producing operated wells2017 Drill 8 wells on two existing pads in Monroe County, OH Average lateral length ~6,600 ft. 100% working interest High return (IRR >90% at point forward economics) Drill 1 well in Dry Central during 4QDry EastEUR: bcfeIRR: 74%PV10: $10mmDry CentralEUR: bcfeIRR: 47%PV10: $6mmNotes: Based upon individual single well returns; Lateral Length: 7,500ft; IRRs based on $ $ flat prices; Remaining gross well locations includes all type curve areasTakeaway Capacity23BRMR Position 50,000 mmbtu/d on REX 50,000 mmbtu/d on Equitrans Optimized takeaway capacity and marketing agreement resulting in higher netbacks and reduced transport chargesSummary Expect capacity out of basin to track higher than supply Narrowing of the basis on marginal cost of transportation from Rover, NEXUS and Leach Xpress projects Increased liquidity at Clarington hub Holding current firm transport position unless ability to source via secondary market at significant discount becomes availableRover TerminusDawn HubOntario, CanadaRoverBlue RacerEQTTETCORex Zone 3Development24llllllLower Ormet4 wellsUticaWells Meckley5 wellsMarcellusUpper Ormet4 wellsUticaFarley1 wellUticaPool1 wellUticaWest Bank Harbor4 wellsUticaSupplemental Information25Type Curves26UticaUticaUticaUticaUticaMarcell usMarcellusMarcellusDry Gas EastDry Gas CentralDry Gas WestWet GasRetrograde 0-40Retrograde WestRetrograde TylerRetrograde MonroeLateral ,0001,0001,0001,000850800800800Lateral ,5007,5007,5007,5007,5007,5007,5007,500E UR - - Yieldbbls/mmscf- - - - 2010040100Residual Heating Valuebtlu/scf1,0501,0501,0801,1001,1001, 1001,1001,100Total Well Cost$ Cost $ ,013987987987880880880880

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