12
…1999 Accomplishments
•Acquired Hagist Ranch and Eloi Bay
•Increased and consolidated controlling interests in certain
properties
•Expanded exploration program
•Raised Convertible Preferred Equity
•Redeemed Convertible Subordinated Debt
•Expanded credit facility
•Lowered G&A 29% and operating expense 7% per unit of production
•Reserve growth
–Increased gas reserves 35%
–Increased oil reserves 58%
•Revenue growth 129%
•Production Growth
–Oil 47%
–Gas 187%