Berry Petroleum Company is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. Publicly traded since 1987, Berry traces its roots in California heavy oil production back to 1909. Currently, Berry's principal reserves and producing properties are in California, Utah (Uinta basin), Colorado (Piceance) and Texas (Haynesville, Permian basin). On December 31, 2009, the Company reported proved reserves of 235 million barrels of oil equivalent (BOE ) distributed 48% in California, 35% in the Rocky Mountain region and 17% in East Texas with a reserve mix of 55% crude oil and 45% natural gas. Including the January 2010 West Texas Permian basin acquisition, proved reserves for the Company are estimated to be 246 million.

While 2009 was a year of challenging business fundamentals for the oil and gas industry, by maintaining our focus on execution we accomplished our operational goals and posted solid financial results. For 2009 we reported net income of $54 million or $1.17 per share and discretionary cash flow of $256 million for the year. In review, we highlight the additional following accomplishments:

• We delivered on our 2009 production forecast
• We implemented a price-sensitive capital budget and reduced our operating costs
• We replaced our reserves
• We reduced our debt and increased our liquidity
• We re-focused our strategy on crude oil

• Founded 1909 by Clarence J. Berry in California
• Traded on the NYSE as BRY
• Producer of oil and natural gas
• Operations in California, Texas, Colorado and Utah
• Significant California heavy crude oil experience
•     Active in the San Joaquin Valley in California
• Growing natural gas and light oil production
•     Active in Colorado's Piceance basin, Utah's Unita basin and the East Texas basin
• 243 Employees at fiscal year end (Dec 2009)
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