Formed in August 2004 and headquartered in Houston , Peregrine Oil & Gas LP conducts exploration, development and production operations in the Gulf of Mexico . These operations include Federal OCS and State Inland Waters. Peregrine's primary mission is to economically find, develop and produce hydrocarbons in these areas.

Peregrine's Business Model works with industry partners in the following modes:

• Farm-outs: We specialize in leveraging drilling opportunities that do not meet Major and Large Independent E&P Company's economic hurdles. These prospects when identified, risked and implemented provide Peregrine a healthy return on investment, while extending P&A liabilities on Late Life Fields and providing royalty revenue to the Company farming out

• Acquisition: We acquire undeveloped and developed properties with significant PDP Reserves and upside opportunities. Peregrine Management Team's unique acquisition experience enables creative offers specifically designed to meet the divestiture's strategic goals.

• Partnering: We partner with other companies as both Operated and Non-Operated projects. We excel in providing operator-ship for projects needing to move forward with action.