Epstein Secrets

n. Forecasts And Rhros Year End Dee 31 2014A 2015E FY EPS 1USD) 4.95 -0.70 Iliyidendyietc11%) 0.6 0.7 Sea Onto* EWA ostinsfam etyma, 401* Deutsche Bank Securities Inc. Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have

S EOG Price Target 101.00 Oil & Gas Exploration & 52-week range 117.98 83.613 Production Sticking to the Script fic.rn lodd kr..: Cc/liner Research Analyst Research Analyst No surprises. but improvements et the margin While EOG's result largely stuck to the emerging script thus far amongst E&P report

St*.re Alx.thhim Research Analyst Research Analyst Research Analyst 1. e.,:no Research Analyst Research Analyst hMt F;y:, Research Analyst Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL SDNY_GM_00233597 DB-SDNY-0087413 EFTA01385945

of new single-family detached houses. The single-family market has to clear before housing overall gets back to normal. Page 32 St*.re Alx.thhim Research Analyst Research Analyst Research Analyst 1. e.,:no Research Analyst Research Analyst hMt F;y:, Research Analyst Deutsche Bank Securities Inc. CONF

ote however that hedge adjusted carry for the 62/FN 4.5% short is slightly negative, but is marginally positive for the G2/FN 4.0% short. Page 36 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0087417 CONFIDENTIAL SDNY_GM_00233601 EFTA01385949

even though it is negative carry (-1/32 per month) • GN2/FN 4.0% looks modestly rich, and being short is slight positive carry (<1/32 per month) Research Analyst Research Analyst [Figure 6.. Framework for evaluating fair value in Ginnie Mae II/Fannie Mae swaps Cpn FNCL Px OAS OAD Incremental value (discou

3.46 Occidental Petroleum 10XY.NLUSD78.19 ExxonMobil (X0M.NLUSD85.20 Sourer Dane* &int Buy Buy Buy Buy Buy Buy Hold Buy Hold Buy Hold Deutsche Bank Securities Inc. Deutsche Bank does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have

grade OXY to BUY and downgrade HES to HOLD. Other preferred names include MRO, DVN, EOG. Date 31 May 2015 FITT Research Ryan Todd Igor Gunin3n Research Analyst Research Analyst 1+1/ (+1) ()avid Peanm%d.n Research Associate 1+11 hey Change,' Company Target Price Rating CVX.N 120.00 to 125.CO(USD1