Harvest’s reserves for the year ended December 31, 2009 were evaluated in accordance with National Instrument 51-101 (“NI 51-101”) by the independent reserve evaluators McDaniel & Associates Consultants Ltd. (“McDaniel”) who evaluated approximately 40% of Harvest’s reserves and GLJ Petroleum Consultants Ltd. (“GLJ”) who evaluated approximately 60%. The complete reserves disclosure as required under NI 51-101, is contained in Harvest’s 2009 Renewal Annual Information Form, filed on SEDAR.

The following tables summarize certain information contained in Harvest’s reserves report.

Harvest Reserves Summary as at December 31, 2009 – Forecast Prices and Costs

Gross⁽¹⁾

Net⁽²⁾

Notes:

1. “Gross” reserves means the total working interest share of Harvest’s remaining recoverable reserves before deductions of royalties payable to others.
2. “Net” reserves means Harvest’s gross reserves less all royalties payable to others.
3. Oil equivalent amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil. Boes may be misleading, particularly if used in isolation. This conversion ratio is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
4. Columns may not add due to rounding.
5. The reserves attributable to Harvest’s Hay River property, which is an area that produces medium gravity crude oil (average 24° API), are subject to a heavy oil royalty regime in British Columbia and would be required, under NI 51-101, to be classified as heavy oil for that reason. We have presented Hay River reserves as medium gravity crude in the following reserve tables as they would otherwise be classified in this fashion were it not for the lower rate royalty regime applied in British Columbia. If the Hay River reserves were included in the heavy crude oil category, it would increase the gross heavy oil reserves and reduce the light/medium oil reserves by the following amounts: Proved Developed Producing: 11.9 mmboe, Proved Undeveloped: 5.2 mmboe, Total Proved: 17.1 mmboe, Probable: 5.5 mmboe and Proved plus Probable: 22.6 mmboe, and would increase the net heavy oil reserves and reduce the light/medium oil reserves by the following amounts: Proved Developed Producing: 10.5 mmboe, Proved Undeveloped: 4.3 mmboe, Total Proved: 14.8 mmboe, Probable: 4.9 mmboe, and Proved plus Probable: 19.7 mmboe.

Harvest Net Present Value of Future Net Revenue of Reserves as at December 31, 2009 –
Forecast Prices and Costs

Harvest’s crude oil, natural gas and natural gas liquids reserves were evaluated using McDaniel’s product price forecasts effective January 1, 2010 prior to provision for income taxes, interest, debt service charges and general and administrative expenses. Note that this presentation is on a before tax basis, and when the tax measures announced on October 31st and passed into law in 2007 become enacted in 2011 then the after tax values could be different than the pre-tax number presented herein. It should not be assumed that estimates of the discounted future net production revenue represent the fair market value of Harvest’s reserves.

Note:

1. Columns may not add due to rounding.

McDaniel & Associates Consultants Ltd. January 1, 2010 Price Forecast

A summary of the McDaniel price forecast as at January 1, 2010 that was used in the Harvest reserves evaluation is listed below. A complete listing of the price forecast is available on the McDaniel’s website at the following link: http://www.mcdan.com/pricing_forecasts.html

Notes:

1. West Texas Intermediate at Cushing Oklahoma 40 degrees API/0.5% sulphur
2. Edmonton Light Sweet 40 degrees API, 0.3% sulphur
3. Bow River at Hardisty Alberta (Heavy stream)
4. Heavy crude oil 12 degrees API at Hardisty Alberta (after deduction of blending costs to reach pipeline quality)

Harvest 2009 Reconciliation Table – Forecast Prices and Costs

Note: (1) Columns may not add due to rounding.