Delivering Results

Through the efforts of our technical staff we've built a low- to medium-risk program for our exploration & production company that creates value for shareholders and delivers predictable results. We monitor every aspect of our operation from our ability to predict drilling success to achieving operating efficiencies such as reductions in cycle time (the number of days from the start of a drilling operation to first sales from a well). By aggressively focusing on cycle time in our onshore region in 2005, we delivered 6,000 additional producing well days and helped to offset inflation in drilling and service costs. We expect further progress in 2006.

*Cautionary Statement Regarding Forward-looking Statements