Falcon Seaboard Launches $145 Million Permian Investment Fund – Press Release

HOUSTON–(Business Wire)–Falcon Seaboard Resources, LLC today announced the launch of the $145
million Falcon Seaboard Permian Fund I, LP. The fund is the first time
David Dewhurst, the CEO and Chairman of Falcon Seaboard Diversified,
Inc. and former Lieutenant Governor of Texas, has accepted outside
investments. It is being launched to capitalize on numerous
opportunities in the Permian Basin that the management team recognizes
are not being pursued by larger investment and strategic players.

“We believe the economics of strategically targeting and aligning with
great operators and purchasing great acreage at attractive prices in the
best basin in the country will be a very successful strategy,” said
Falcon Seaboard Resources Managing Partner David Dewhurst.

This fund was created to leverage the experience of the management team
in aggregating acquisitions across the country’s most prolific and
cost-effective basin. The goal is to purchase Permian Basin acreage as
well as invest and partner with other successful E&P companies whose
primary objectives are to develop lower-risk oil and gas leases, drill
lower-risk projects and acquire and exploit established reserves.

“Throughout our history, we have self-funded our investments,” Dewhurst
said. “But over the years, we have been approached by friends and other
third parties about investing alongside us. This fund creates an ideal
opportunity for investors to participate in privately negotiated equity
and equity-related purchases of Permian Basin acreage, focusing on
smaller, niche acquisitions that the larger private equity funds,
independents and major oil companies typically do not pursue.”

Andrews Kurth Kenyon LLP is legal counsel for the fund and Falcon
Seaboard Resources. Entoro Securities is the fund’s non-exclusive
Placement Agent. Entoro will use its proprietary securities syndication
platform, OfferBoard, to distribute fund interests.

About Falcon Seaboard

Houston-headquartered Falcon Seaboard Resources, LLC is a new energy
investments focused investment management company affiliated with Falcon
Seaboard Diversified, Inc., an operating energy company with a long
history of pursuing oil and gas, electric power, midstream pipelines and
gathering companies, storage, enhanced oil recovery, and other energy
and infrastructure opportunities. Falcon Seaboard Diversified used its
oil and gas experience and assets as a platform to supply natural gas;
develop, build and operate natural gas-fired cogeneration plants
throughout the U.S.; and develop projects worldwide in England, Spain,
Germany, Argentina, and Asia. Falcon Seaboard Diversified has also
developed complex power projects with associated natural gas pipelines,
industrial steam hosts and long-term power offtake agreements with
creditworthy counterparties.

David Dewhurst is the majority owner of both Falcon Seaboard Resources
and Falcon Seaboard Diversified. Dewhurst is the former Lieutenant
Governor of Texas, head of the Texas General Land Office and for 16
years served with President George W. Bush and Governor Rick Perry.

NOTICE. Falcon Seaboard Permian Fund I, LP’s securities may be
sold only to accredited investors and qualified clients, which for
natural persons, are investors who meet certain minimum annual income
and net worth thresholds, and are being offered in reliance on an
exemption from the registration requirements of the Securities Act of
1933 and are not subject to the protections of the Investment Company
Act of 1940 or required to comply with specific disclosure requirements
that apply to registration under the Securities Act. The fund’s
securities are subject to legal restrictions on transfer and resale and
investors should not assume they will be able to resell their
securities. Potential investors are cautioned that investing in
securities involves risk, and investors should be able to bear the loss
of their investment. The U.S. Securities and Exchange Commission has not
passed upon the merits of or given its approval to the securities, the
terms of the offering, or the accuracy or completeness of any offering
materials.

Forward-Looking Statements. This press release may include
forward-looking statements, including, but are not limited to,
statements about Falcon Seaboard Permian Fund I, LP’s future financial
and operating results as well as our plans, objectives, expectations and
intentions. Our forward-looking statements are generally, but not
always, accompanied by words such as “estimate,” “project,” “predict,”
“believe,” “expect,” “anticipate,” “potential,” “should,” “may,” “will,”
plan,” “goal,” “can,” “could,” “continuing,” “ongoing,” “intend,” or
other words that convey the uncertainty of future events or outcomes.
While our management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies and
uncertainties, most of which are difficult to predict and many of which
are beyond our control. These and other important factors may cause our
actual results, performance or achievements to differ materially from
any future results, performance or achievements expressed or implied by
these forward-looking statements.

Any or all of our forward-looking statements in this press release may
turn out to be inaccurate. The inclusion of this forward-looking
information should not be regarded as a representation by us or any
other person that the future plans, estimates or expectations
contemplated by us will be achieved. We have based these forward-looking
statements largely on our current expectations and projections about
future events and financial trends that we believe may affect the
development of the proposed investments, our financial condition,
results of operations, business strategy and financial needs. These are
important factors that could cause your actual results, level of
activity, performance or achievements to differ materially from the
results, level of activity, performance or achievements expressed or
implied by the forward-look statements including, but not limited to,
adverse regional, national or international economic conditions; changes
in the marketplace for our products or services, such as increased
competition, better energy efficiency, or general reductions in demand;
changes in the availability and cost of capital; unanticipated capital
expenditures; operating hazards, natural disasters, terrorism,
weather-related delays, adverse weather conditions, and natural
disasters, environmental releases, casualty losses and other matters
beyond our control that interrupt our operations; and the effects of
existing and future laws and governmental regulations to which we are
subject.

Sard Verbinnen & Co.
Kelly L. Kimberly
+1 832-680-5120
kkimberly@sardverb.com

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