• Stable base of long-life, domestic reserves
     – Year End 2007 –
            • 55.4 MMBOE of proven reserves
            • 36% developed; 86% Oil
            • PV-10 of $1.982 billion 1

• Proven track record of cost-effective growth
     – 47% production growth, 32% reserve growth in 2007, adjusting for sales
     – 3-year reserve replacement rate of 13.7x, with 3-year F&D costs of $8.11/BOE

• Well-positioned with strong balance sheet (3% Long-Term Debt to Cap2) to capitalize on   acquisition opportunities
     – Historical average acquisition cost of approximately $3.50/BOE of proved reserves

• Approximately 70,000+ total gross (52,500+ net) acres with 2,200+ potential locations