FORM 10-K CONTANGO OIL & GAS COMPANY

The following graph compares the yearly percentage change from June 30, 2004 until June 30, 2009
in the cumulative total stockholder return on our common stock to the cumulative total return on the Russell
2000 Stock Index and a peer group of five independent oil and gas exploration companies selected by us. The
companies in our selected peer group are ATP Oil & Gas Corp., Callon Petroleum, Energy XXI (Bermuda)
Limited, McMoRan Exploration Company, and W&T Offshore, Inc. Our common stock began trading on the
American Stock Exchange on January 19, 2001 and previously traded on the Nasdaq over-the-counter Bulletin
Board. The graph assumes that a $100 investment was made in our common stock and each index on June 30,
2004 and that all dividends were reinvested. The stock performance for our common stock is not necessarily
indicative of future performance. For companies that did not exist as of June 30, 2004, we used the initial
public price for all periods that an actual price did not exist.
Comparison of Fiscal Year 2009 Cumulative Total Return
Dollars
1,650
1,450
1,250
1,050
850
650
450
250
50
Peer Group Composite
Russell 2000 Stock Index
Contango Oil & Gas Co.
06/30/2004 06/30/2005 6/30/2006 6/30/2007 6/30/2008 6/30/2009
06/30/2004 06/30/2005 6/30/2006 6/30/2007 6/30/2008 6/30/2009
Peer Group Composite 100 106 149 134 193 30
Russell 2000 Stock Index 100 108 123 141 117 86
Contango Oil & Gas Co. 100 138 213 546 1,397 639
26