Laredo Petroleum is an independent energy company with headquarters in Tulsa, Oklahoma. Laredo's business strategy is focused on the acquisition, exploration and development of oil and natural gas properties primarily in the Permian Basin in West Texas.Laredo was founded in October 2006 by our Chairman and Chief Executive Officer Randy A.Foutch, who was later joined by other members of our management team, many of whomhave worked together for a decade or more. Prior to founding Laredo, Mr. Foutch formed,built and sold three private oil and gas companies, all of which were focused on the samegeneral areas of the Permian Basin in which Laredo currently operates. All of these companies executed the same fundamental business strategy that created significant growth in cash flow, production and reserves. These companies had a total of approximately $547 million of debt and equity capital invested and their cumulative sales proceeds wereapproximately $1.1 billion.

Strategy

• Grow production and reserves through our lower-risk vertical drilling.
• Increase recovery and capital efficiency through our horizontal drilling.
• Apply our technical expertise to reduce risk in our current asset portfolio, optimize our development program and evaluate emerging opportunities.
• Enhance returns through prudent capital allocation and continued improvements in operational and cost efficiencies.
• Evaluate and pursue value enhancing acquisitions, mergers and joint ventures.
• Proactively manage risk to limit downside.