Acquire certain shallow water (< 200 feet) Gulf of Mexico Shelf assets 14 producing wells and 7 platforms PQ will operate 79% of production (PQ operates 90% of current production) Purchase price 193MM Estimated 7/1/13 proved…
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Continuation of existing strategy of using Gulf Coast cash flow to fund the development of long life, resource assets Incremental cash flow from the acquired properties will be primarily allocated to existing low risk onshore assets…
Original Booked Reserves (1P) 2003: 7.6 Bcfe (net) 1P Reserves 3P Reserves SEC Booked Reserves Lease Line Water Level at Discovery 5
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