Berry Petroleum Company

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 to California heavy oil production back to 1909. Currently, Berry's principal reserves and producing properties are in California (San Joaquin and LA basins), Utah (Uinta basin), Colorado (Piceance and DJ basins) and Texas (East Texas basin). At December 31, 2007, the Company reported proved reserves of 169 million barrels of oil equivalent (BOE) distributed 60% in California and 40% in the Rocky Mountain region. For the Company, the reserve mix is 69% crude oil and 31% natural gas. Including the East Texas acquisition that closed July 15, 2008 the Company estimates it will have total proved reserves of between 235 million and 250 million at year end 2008.

Daily production for the second quarter 2008 averaged 29,000 BOE with 71% coming from oil production and 29% from natural gas production. The Company exited the second quarter with production of 30,000 BOE/D and with the East Texas acquisition, total production currently is above 35,000 BOE/D.

Listed below are some key principles that we believe define Berry and provide an understanding of how we are managing the Company for increased performance:

• We are a growing company, focused on the execution of our asset development plans.
• We work to maximize returns for our shareholders.
• We are accountable for our performance.
• We value people who want to drive the Company's success.
• We utilize integrated teams that encourage contributions from each person.