Five States Energy Capital's goal is to meet the financing needs of independent oil and gas producers and related service providers. We provide mezzanine capital, both debt and preferred equity, for acquiring, developing, exploiting and servicing producing properties. We provide customized financing solutions that meet the unique needs of our industry partners.

• We've been an active working interest industry partner since 1985.
• Our senior executives are industry leaders in engineering, geology, operations and finance.
• We continue to own and operate properties throughout Texas, New Mexico, the Mid- Continent and the Rocky Mountains.
• Our support staff is experienced in all industry disciplines.

• We focus on independent, onshore producers located in Texas and the contiguous states.
• We target investments between $1 and $25 million, in one or more phases.
• We invest for the long-term no requirement for operators to sell assets on a specified schedule.
• We are creative to better help our partners achieve their goals.

We provide mezzanine financing, capital that bridges the gap between senior secured debt and the producer's equity. Our flexible structures include subordinated debt with equity participation and preferred equity, customized as appropriate.

Mezzanine capital can be an attractive part of a project financing plan to ...

• Accelerate development/exploitation
• Enhance the producer's rate of return
• Increase capital available to meet leasehold drilling obligations
• Eliminate or reduce the need to find additional capital sources

We customize every deal to provide the best solution for our producer partners.

We provide capital for

• Field development and exploitation
• Acquisitions
• Waterfloods
• Service related assets
• Midstream assets

We start by developing a complete understanding of your goals, objectives and current status. We then evaluate drilling plans, waterflood engineering analyses, leasehold constraints, risk mitigation strategies everything relevant to understanding your unique opportunity.

We then develop a financing strategy that creates the most value for you, our producer partner, while also meeting the needs and expectations of our investors.

With more than two decades of experience, we know the industry and like you, we're in it for the long haul.