China's tariff on US natural gas delays Louisiana LNG project UK approves Serica-operated Columbus offshore natural gas field development

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1 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 14: Prior Day s NYMEX NOV-18 Contract (CT) NYMEX NG Futures Dec (.11) Jan (.17) Feb (.18) Mar (.1) Apr (.15) May (.14) Jun (.14) Jul (.14) Aug (.13) Sep (.11) Oct (.11) Nov (.12) Dec (.12) Jan (.1) Feb (.12) Mar (.16) Apr (.18) May (.17) Jun (.16) Jul (.15) Aug (.15) Sep (.15) Oct (.16) Nov (.11) 1YR Strip (.13) (.11) 5YR Strip (.2) I N T H E N E W S China's tariff on US natural gas delays Louisiana LNG project CNBC reported: A company behind a multibillion-dollar project to export liquefied natural gas from Louisiana is delaying its investment decision due to problems lining up Chinese buyers amid the ongoing U.S.-China trade dispute. The announcement shows the trade tensions are beginning to have a negative impact on an China's tariff on US natural gas delays Louisiana LNG project UK approves Serica-operated Columbus offshore natural gas field development industry that President Donald Trump has championed. Trump has pitched U.S. LNG natural gas chilled to liquid form to trade partners from China to Poland. Australia's LNG Limited on Monday said it will not make a final investment decision this year on its Magnolia LNG terminal near Lake Charles, Louisiana. The company previously told investors it expected to announce a decision by year-end. "We made that statement prior to the trade tensions that have manifested over the past months, which have caused headwinds for LNG transactions," LNG Limited CEO Greg Vesey said in a letter to shareholders. For more on this story visit spglobal.com or click UK approves Serica-operated Columbus offshore natural gas field development S&P Global reported: The UK has approved the development plan for the Serica Energy-operated Columbus gas and condensate field in the Central North Sea, the company said Wednesday, the latest in a string of approvals for gas fields in the region. Columbus is expected to produce a total of 7,8 b/d of oil equivalent million cu m/d in gas terms -- at peak. Production is expected to begin in mid-221. The green light for Columbus follows FIDs taken by Shell for its Arran and Fram gas fields in October and June, respectively, in the Central North Sea. "Columbus is the final component of the UK Oil and Gas Authority's Central Graben Area Plan, which also included the recently sanctioned Fram and Arran fields, unlocking over 5 million boe recoverable reserves which had struggled for decades to be developed," the authority's CEO Andy Samuel said Wednesday. For more on this story visit spglobal.com or click bit.ly/2eqoglj 1 2 M O N T H C A N D L E S T I C K ( W E E K L Y ) Prompt Natural Gas (NG) Daily Sentiment BULLISH RESISTANCE 3.26 & 3.33 SUPPORT 3.14 & 3.1 Trading Summary NATURAL GAS Futures Close Change NG (.11) Volume 362,848 (229,373) Open Int. 1,521,366 (25,879) CRUDE AND GASOLINE Futures Close Change Crude (.86) RBOB (.19) Crude/NG 2.77 (.2) METALS Futures Close Change Gold 1,222.6 (8.6) EQUITIES Exchange Close Change DOW 25, S&P 5-1, CURRENCY Currency Close Change EUR/USD (.29) USD/CND Contact Us Mansfield Energy Corp 125 Airport Pkwy Gainesville, GA info@mansfieldoil.com Phone: (8)

2 W E E K L Y G A S I N U N D E R G R O U N D S T O R A G E W I T H 5 - Y R R A N G E Release Date: August 2, 218 T R O P I C A L S T O R M A C T I V I T Y A T L A N T I C Rig Count Report Date: October 26, 218 Total Change US - 1,68 +1 CN EIA Weekly NG Storage Actual and Surveys for October 26, 218 Released October 25, 218 Range +2 to +55 PIRA +54 CITI +33 Raymond James +46 EIA ACTUAL +58 Total Working Gas In Storage 3,95 BCF +58 BCF (LAST WEEK) (66) BCF (LAST YEAR) (624) BCF (5-YR AVG) Tropical Weather Outlook NWS National Hurricane Center Miami FL 8 AM EDT Wed Oct For the North Atlantic...Caribbean Sea and the Gulf of Mexico: The National Hurricane Center is issuing advisories on Hurricane Oscar, located over the central Atlantic Ocean. Tropical cyclone formation is not expected during the next 5 days. U.S. Natural Gas Supply Gas Week 1/18 1/24 Average daily values (BCF/D): Last Year (BCF/d) Dry Production +76. Total Supply Last Week (BCF/d) Dry Production Total Supply +9. [NEXT REPORT ON Nov 2] U.S. Natural Gas Demand Gas Week 1/18 1/24 Average daily values (BCF/D): Last Year (BCF/d) Power Total Demand Last Week (BCF/d) Power Total Demand +83. [NEXT REPORT ON Nov 2] Page 2

3 N A T U R A L G A S B A S I S F U T U R E S, H E N R Y H U B S P O T P R I C E S, A N D F O R W A R D C U R V E NYMEX WTI Delivery Month Average ($/bbl) (Excluding Weekends and Holidays) Sumas Basis (platts Iferc) Michcon Basis (platts Iferc) Transco Zone 6 Basis (platts Iferc) San Juan Basis (platts Iferc) Waha Basis (platts Iferc) Month: October 218 Day Price Day Price Average (Oct) (through 1/3/218) Average (Sep) Average (Aug) Transco Zone 4 Basis (platts Iferc) CME NG Option Prices ATM Call CME NG Option Prices ATM Put /1/22 12/1/22 1/1/221 3/1/222 8/1/222 1/1/223 6/1/223 11/1/223 4/1/224 9/1/224 2/1/225 7/1/225 12/1/225 5/1/226 1/1/226 3/1/227 Henry Hub Daily Spot Price OCT 218 SEP 218 AUG NYMEX Natural Gas Forward Curve Month Strike Close Imp Vol Jan-19 Feb Mar-19 Apr-19 May-19 Jan-19 Feb Mar-19 Apr-19 May-19 Page 3

4 W E A T H E R H I G H / L O W T E M P E R A T U R E T O M O R R O W HIGH Temperature LOW Temperature W E A T H E R 6 T O 1 D A Y O U T L O O K N O A A Temperature Precipitation W E A T H E R 8 T O 1 4 D A Y O U T L O O K N O A A Temperature Precipitation Page 4

5 E T H A N E F U T U R E S, N G / E T H A N E R A T I O, P R O P A N E F U T U R E S, A N D T H E F R A C S P R E A D CME Future Prices Ethane Futures Ethane / Natural Gas Ratio 12/1/218 2/1/219 6/1/219 1/1/219 2/1/22 CME Future Prices Propane (C3) Non-LDH Mont Belvieu 1 12/1/218 2/1/219 6/1/219 1/1/219 2/1/ Propane Futures Frac Spread (cents/gallon) Nov (.1) Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct YR Strip.36.1 (cents/gallon) Nov (.1) Dec (.11) Jan (.11) Feb (.13) Mar (.13) Apr (.13) May (.13) Jun (.13) Jul (.11) Aug (.12) Sep (.11) Oct (.11) 1YR Strip.821 (.11) Page 5

6 12/1/218 4/1/22 8/1/22 12/1/22 4/1/221 8/1/221 12/1/221 4/1/222 8/1/222 12/1/222 4/1/223 8/1/223 12/1/223 4/1/224 8/1/224 12/1/218 1/1/219 8/1/22 6/1/ /1/222 9/1/222 2/1/223 7/1/223 12/1/223 5/1/224 1/1/224 3/1/225 8/1/225 1/1/226 6/1/226 11/1/226 4/1/227 12/1/218 4/1/22 8/1/22 12/1/22 4/1/221 8/1/221 12/1/221 4/1/222 8/1/222 12/1/222 4/1/223 8/1/223 12/1/223 4/1/224 8/1/224 12/1/224 4/1/225 8/1/225 Prompt WTI (CL) Crude Daily Sentiment BEARISH RESISTANCE & SUPPORT & FOLLOW US ON NYMEX Brent (BZ) Futures Dec (.86) Jan (.9) Feb (.92) Mar (.93) Apr (.94) May (.94) Jun (.95) Jul (.96) Aug (.97) Sep (.99) Oct (1.) Nov (1.1) Dec (1.1) Jan (1.3) Feb (1.3) Mar (1.3) Apr (1.3) May (1.4) Jun (1.3) Jul (1.3) Aug (1.3) Sep (1.4) Oct (1.5) Nov (1.5) 1YR Strip (.95) (.86) 5YR Strip 62.9 (1.3) B R E N T C R U D E F O R W A R D C U R V E W T I C R U D E F O R W A R D C U R V E WTI B R E N T S P R E A D (1) (2) (3) (4) (5) (6) (7) (8) (9) (1) (11) (12) FRAC Spread Specifications Ethane : 42% Propane: 28% Butane: 11% 66,5 btu/g 9,83 btu/g 12,916 btu/g Iso-Butane: 6% 98,935 btu/g Natural Gasoline: 13% 115,21 btu/g Prompt NGL Futures Nov-18 Butane Iso-Butane Nat Gasoline Close Change 1.14 (.1) (.) (.3) NYMEX WTI (CL) Futures Dec (1.43) Jan (1.42) Feb (1.4) Mar (1.37) Apr (1.35) May (1.33) Jun (1.32) Jul (1.31) Aug (1.3) Sep (1.28) Oct (1.27) Nov (1.27) Dec (1.27) Jan (1.27) Feb (1.27) Mar (1.27) Apr (1.27) May (1.27) Jun (1.27) Jul (1.27) Aug (1.27) Sep (1.27) Oct (1.27) Nov (1.27) 1YR Strip (1.34) (1.43) 5YR Strip 7.2 (1.26) Page 6