<SUBMISSION>
<ACCESSION-NUMBER>0000893538-05-000079
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20050803
<ITEMS>2.02
<ITEMS>9.01
<FILING-DATE>20050804
<DATE-OF-FILING-DATE-CHANGE>20050803
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ST MARY LAND & EXPLORATION CO
<CIK>0000893538
<ASSIGNED-SIC>1311
<IRS-NUMBER>410518430
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-31539
<FILM-NUMBER>05997253
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1776 LINCOLN ST STE 700
<CITY>DENVER
<STATE>CO
<ZIP>80203
<PHONE>303-861-8140
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>asci080305_8k.htm
<DESCRIPTION>08/03/05 8K OPERATIONS UPDATE
<TEXT>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>UNITED STATES</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Washington, D.C. 20549</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>FORM 8-K</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>CURRENT REPORT</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of Report (Date of earliest event reported)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>August 3, 2005 (August 3, 2005)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>St. Mary Land &amp; Exploration Company</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of registrant as specified in its charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="631" style='border-collapse:collapse'>
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        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Delaware</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>001-31539</font></p> </td>
        <td width="99" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>41-0518430</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(State or other jurisdiction</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(I.R.S Employer</font></p> </td>
        <td  width="7">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  width="30">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>of incorporation)</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>File Number)</font></p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Identification No.)</font></p> </td> </tr>
    <tr>
        <td width="30" ></td>

        <td width="24" ></td>

        <td width="215" ></td>

        <td width="1" ></td>

        <td width="9" ></td>

        <td width="215" ></td>

        <td width="7" ></td>

        <td width="13" ></td>

        <td width="99" ></td>

        <td width="13" ></td>

        <td width="7" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>1776 Lincoln Street, Suite 700, Denver, Colorado 80203</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Address of principal executive offices)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>(Zip Code)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Registrant&#146;s telephone number, including area code: (303) 861-8140</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Not applicable</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Former name or former address, if changed since last report.)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="437" style='border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 2.02</font></b></p> </td>
        <td width="341" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Results of Operations and Financial Condition.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>On August 3, 2005, St. Mary Land &amp; Exploration Company issued a press release announcing its results of operations for the quarterly period ended June&nbsp;30,&nbsp;2005.  A copy of the press release is furnished as Exhibit 99.1 to this report.  As indicated in the press release, the Company has scheduled a related second quarter 2005 earnings teleconference call for August 4, 2005, at 8:00 a.m. (MDT).  The teleconference call is publicly accessible, and the press release includes instructions as to when and how to access the teleconference and the location on the Company&#146;s web site where the teleconference information will be available.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The press release contains information about the Company&#146;s discretionary cash flow, which is a &#147;non-GAAP financial measure&#148; under SEC rules.  The press release also presents information about the Company&#146;s net cash provided by operating activities, which is the most directly comparable GAAP financial measure, and contains a reconciliation of discretionary cash flow to net cash provided by operating activities for the periods presented, a presentation of other cash flow information under GAAP, and a statement indicating why management believes that the presentation of discretionary cash flow provides useful information to investors.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>In accordance with General Instruction B.2. of Form 8-K, the information in this report, including Exhibit 99.1, shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) or otherwise subject to liability under that section, and such information and Exhibit shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except unless expressly set forth by specific statement or reference in such a filing.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="355" style='border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 9.01</font></b></p> </td>
        <td width="259" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Financial Statements and Exhibits.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="488" style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td width="440" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exhibits.  The following exhibit is furnished as part of this report:</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exhibit 99.1</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Press release of St. Mary Land &amp; Exploration Company dated August 3, 2005</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>SIGNATURES</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.4in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="360" style='margin-left:171.0pt;border-collapse:collapse'>
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        <td width="360" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>ST. MARY LAND &amp; EXPLORATION COMPANY</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:  August 3, 2005</font></p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By: </font><u><font size=2>/S/ DAVID W. HONEYFIELD</font></u></p> </td>
        <td  width="103">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>David W. Honeyfield</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Vice President &#150; Chief Financial Officer, Secretary</font></p> </td> </tr>
    <tr >
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td width="101" valign=top style='padding:0in 0in .25in 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>and Treasurer</font></p> </td>
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="228" ></td>

        <td width="30" ></td>

        <td width="42" ></td>

        <td width="101" ></td>

        <td width="14" ></td>

        <td width="61" ></td>

        <td width="103" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
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<DESCRIPTION>08/03/05 EXHIBIT 99.1 OPERATIONS UPDATE
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b><font SIZE=2>EXHIBIT 99.1</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>For Information</font></b></u></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Mark A. Hellerstein</font></p> </td> </tr>
    <tr >
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Robert T. Hanley</font></p> </td>
        <td  width="15">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="120" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>303-861-8140</font></p> </td>
        <td   colspan="3">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="120" ></td>

        <td width="19" ></td>

        <td width="1" ></td>

        <td width="15" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>ST. MARY REPORTS RECORD RESULTS FOR SECOND QUARTER 2005, RECORDS FOURTH CONSECUTIVE QUARTER WITH INCREASING PRODUCTION AND UPDATES GUIDANCE</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>DENVER, August 3, 2005 </font></b><font size=2>&#150; St. Mary Land &amp; Exploration Company (NYSE: SM) today reported record earnings for the second quarter 2005 of $38.3 million or $0.59 per diluted share.  Second quarter 2004 earnings were $21.8 million or $0.34 per diluted share.  Revenues for the second quarter of 2005 were a record $164.6 million compared to $102.2 million for the second quarter of 2004.  Second quarter 2005 Discretionary Cash Flow</font><sup><font size=2>(1)</font></sup><font size=2> increased to a record $105.2 million from $64.5 million in the second quarter of 2004.  Net cash provided by operating activities increased to $93.4 million in the second quarter of 2005 from $59.9 million in the second quarter of 2004.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Earnings for the first six months of 2005 were $73.4 million or $1.13 per diluted share, compared to $43.3 million or $0.67 per diluted share for the first six months of 2004. Revenues for the first six months of 2005 were $308.4 million compared to $198.6 million for the same period in 2004.  Discretionary cash flow for the first six months of 2005 increased to $196.0 million from $120.7 million in the first six months of 2004.   Net cash provided by operating activities increased to $185.6 million in the first six months of 2005 from $99.8 million in the first six months of 2004</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Daily oil and gas production during the second quarter 2005 averaged a record 239.1 million cubic feet of gas equivalent (MMCFED), up from 198.2 MMCFED in the comparable 2004 period.  Average prices realized during the quarter were $6.77 per Mcf and $48.39 per barrel, 26% and 57% higher, respectively, than the realized prices in the second quarter of 2004.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The Company also announced that it has increased its 2005 capital expenditures forecast to $436 million from $418 million.  The increase is allocated to the following regions: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="385" style='margin-left:1.0in;border-collapse:collapse'>
    <tr >
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Mid-Continent Region</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$8 million</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Rocky Mountain Region</font></p> </td>
        <td width="79" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>8 million</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Hanging Woman Basin</font></p> </td>
        <td width="79" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2 million</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>ArkLaTex Region</font></p> </td>
        <td width="79" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2 million</font></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Gulf Coast Region</font></p> </td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(1 million)</font></p> </td> </tr>
    <tr >
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Permian Basin Region</font></p> </td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(1 million)</font></u></p> </td> </tr>
    <tr >
        <td width="288" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Total Increase</font></p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$18 million</font></p> </td>
        <td  width="1">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr>
        <td width="288" ></td>

        <td width="4" ></td>

        <td width="4" ></td>

        <td width="4" ></td>

        <td width="79" ></td>

        <td width="5" ></td>

        <td width="1" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The changes to the capital expenditures forecast reflect cost increases and additions in the Company&#146;s planned drilling activity in the Mid-Continent, Rocky Mountain and ArkLaTex regions.   </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Mark Hellerstein, Chairman, President and CEO, commented, &#147;This was another record quarter at St. Mary.  We have now increased production and net income for four consecutive quarters.  On August 1 we closed a $39 million acquisition of oil and gas properties, principally from Wold Oil Properties, Inc., which included 22.5 BCFE of proved reserves (72% developed), primarily in the Wind River and Powder River Basins.  The actual cash paid was $36.7 million after adjustments between the effective and closing dates.   We continue to have good drilling results and have several multi-year drilling programs that give us a solid base for future growth.  We anticipate our drilling program will provide an increasing rate of production throughout the balance of the year.&#148;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The Company&#146;s forecasts for the third quarter and the full year 2005 are shown below.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="627" style='border-collapse:collapse'>
    <tr >
        <td   colspan="7">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>3rd Quarter</font></u></p> </td>
        <td width="53" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Year</font></u></p> </td>
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Oil and gas production</font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>22.0 &#150; 23.0 BCFE  </font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>85.0 &#150; 88.0 BCFE</font></p> </td>
        <td  width="4">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Lease operating expenses,</font></p> </td>
        <td   colspan="10">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td  width="12">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>including production taxes and</font></p> </td>
        <td   colspan="9">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td   colspan="2">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>transportation  </font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$1.55 - $1.70/MCFE  </font></p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$1.55 - $1.65/MCFE</font></p> </td> </tr>
    <tr >
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>General and administrative exp.  </font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$0.38 - $0.43/MCFE  </font></p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$0.34 - $0.39/MCFE</font></p> </td> </tr>
    <tr >
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Depreciation, depletion &amp; amort.  </font></p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$1.57 - $1.63/MCFE  </font></p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$1.55 - $1.62/MCFE</font></p> </td> </tr>
    <tr>
        <td width="12" ></td>

        <td width="1" ></td>

        <td width="199" ></td>

        <td width="37" ></td>

        <td width="39" ></td>

        <td width="11" ></td>

        <td width="16" ></td>

        <td width="146" ></td>

        <td width="13" ></td>

        <td width="28" ></td>

        <td width="53" ></td>

        <td width="66" ></td>

        <td width="4" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>The estimated future liability for the Net Profits Plan continues to increase with the record level of oil and gas prices realized in the second quarter of 2005.  The increase in the liability recognized in the second quarter of 2005 is $12.2 million.  The increase in the liability is non-cash and will be paid as future oil and gas revenues are received.     </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Operational updates for the second quarter 2005 were provided in the Company&#146;s June 29, 2005 press release.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>As previously announced, the St. Mary second quarter earnings teleconference call is scheduled for August 4 at 8:00 am (MDT).  The call participation number is 888-424-5231. A digital recording of the conference call will be available two hours after the completion of the call, 24 hours per day through August 13 at 800-642-1687, conference number 3038634377.  International participants can dial 706-634-6088 to take part in the conference call, and can access a replay of the call at 706-645-9291, </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>conference number 3038634377.  In addition, the call will be broadcast live at St. Mary&#146;s website at www.stmaryland.com and this press release and financial highlights attachment will be available before the call at www.stmaryland.com under &#147;News&#151;Press Releases.&#148;  An audio recording of the conference call will be available at that site through August 13, 2005.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>This release contains forward looking statements within the meaning of securities laws, including forecasts and projections.  The words &#147;will,&#148; &#147;believe,&#148; &#147;anticipate,&#148; &#147;intend,&#148; &#147;estimate,&#148; &#147;forecast&#148; and &#147;expect&#148; and similar expressions are intended to identify forward looking statements.  These statements involve known and unknown risks, which may cause St. Mary&#146;s actual results to differ materially from results expressed or implied by the forward looking statements.  These risks include such factors as the uncertain nature of the expected benefits from the acquisition of oil and gas properties, the volatility and level of oil and natural gas prices, unexpected drilling conditions and results, the risks of various exploration strategies, production rates and reserve replacement, the imprecise nature of oil and gas reserve estimates,
drilling and operating service availability, uncertainties in cash flow, the financial strength of hedge contract counterparties, the availability of economically attractive exploration and development and property acquisition opportunities and any necessary financing, competition, litigation, environmental matters, the potential impact of government regulations, and other such matters discussed in the &#147;Risk Factors&#148; section of St. Mary&#146;s 2004 Annual Report on Form 10-K filed with the SEC.  Although St. Mary may from time to time voluntarily update its prior forward looking statements, it disclaims any commitment to do so except as required by securities laws.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table  border="0" cellspacing=0 cellpadding=0 style='margin-left:.5in;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(1)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Discretionary cash flow is computed as net income plus depreciation, depletion, amortization, impairments, deferred taxes, exploration expense, stock based compensation expense and non-cash changes in the Net Profits Plan liability, less the cumulative effect of unrealized derivative loss.  See the attached financial highlights for a reconciliation of discretionary cash flow to net cash provided by operating activities, a presentation of other cash flow information, and a statement indicating why management believes the presentation of the non-GAAP measure of discretionary cash flow provides useful information to investors.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.19in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>PR-05-11</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>3</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='height:12.95pt'>
        <td  nowrap colspan="9" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>ST. MARY LAND &amp; EXPLORATION COMPANY</font></b></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td  nowrap colspan="9" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font SIZE=2>FINANCIAL HIGHLIGHTS</font></b></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td  nowrap colspan="9" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>June 30, 2005</font></b></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td  nowrap colspan="9" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Unaudited)</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font SIZE=1>PRODUCTION DATA</font></b></u><b><u></u></b></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Six Months Ended</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Percent</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Percent</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Change</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Change</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Average realized price, net of hedging:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Gas (per Mcf)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           6.77 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           5.39 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>26%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         6.50 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         5.30 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>23%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil (per Bbl)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         48.39 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         30.78 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>57%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       46.88 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       29.50 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>59%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:13.5pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Production:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Gas (MMcf)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>13,184 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,070 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>19%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>25,231 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>22,683 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>11%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil (MBbls)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,428 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,161 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>23%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,862 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>2,302 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>24%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=1>MMCFE (6:1)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>21,754 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>18,038 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>21%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>42,401 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>36,494 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>16%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Daily production:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Gas (Mcf per day)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>144,882 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:24.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>121,648 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>19%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>139,398 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>124,631 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>12%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil (Bbls per day)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>15,695 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>12,762 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>23%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>15,811 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>12,648 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>25%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>MCFE per day (6:1)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>239,053 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:24.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>198,220 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>21%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>234,261 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>200,516 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>17%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Margin analysis per MCFE:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Average net realized price, net of hedging</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           7.28 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           5.29 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>38%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         7.03 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         5.15 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>37%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Lease Operating Expense</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:30.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.96 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:36.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.95 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>1%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1.02 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.93 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>10%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Production Taxes</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:30.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.42 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:36.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.25 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>68%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.45 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.31 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>45%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>General and administrative costs</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:30.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.34 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:36.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.30 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>13%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.32 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>0.30 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>7%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:10.9pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Operating margin</font></p> </td>
        <td width="71" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           5.56 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           3.79 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>47%</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         5.24 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         3.61 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>45%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Depletion, depreciation &amp; amortization</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           1.56 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           1.15 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>36%</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         1.51 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         1.13 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>34%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font SIZE=1>INCOME STATEMENT</font></b></u><b><u></u></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(In thousands, except per share amounts)</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Six Months Ended</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Operating Revenues:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil and gas production revenue</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     160,421 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     106,581 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$   298,791 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$   207,787 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil and gas hedge loss</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(2,086)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:24.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(11,134)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:24.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(526)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:15.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(19,733)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Marketed gas revenue</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>5,551 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>3,724 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>8,947 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>7,297 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Gain (loss) on sale of proved properties</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:30.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(26)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,581 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(26)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,776 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Other revenue</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>714 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,399 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,206 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,506 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>164,574 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:24.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>102,151 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>308,392 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>198,633 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Operating expenses:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil and gas production expense</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>30,188 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>21,573 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>62,347 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>45,116 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Depletion, depreciation, amortization</font></p>
<p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>and abandonment liability accretion</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>33,907 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>20,673 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>63,981 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>41,299 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Exploration</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:26.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>9,699 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>6,569 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>16,782 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>11,200 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Impairment of proved properties</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:40.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>-   </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:38.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>494 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:38.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>-   </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>494 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Abandonment and impairment of unproved</font></p>
<p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>properties</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,819 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:38.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>966 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>3,689 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,888 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>General and administrative</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>7,481 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>5,410 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>13,467 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>10,987 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Change in Net Profits Plan liability</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>12,175 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,325 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>16,396 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>6,485 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Marketed gas operating expense</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>5,227 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>3,310 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>8,352 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>6,721 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Derivative loss </font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>241 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,721 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,370 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>869 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Other expense</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,083 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:38.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>525 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,597 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>1,110 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:.25in;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>101,820 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>65,566 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>187,981 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>126,169 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Income from operations</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>62,754 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>36,585 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>120,411 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>72,464 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Interest income</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.5in;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>98 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:38.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>242 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>180 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>386 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Interest expense</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(2,274)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,565)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(4,218)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(3,053)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Income before income taxes</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>60,578 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-top: solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>35,262 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>116,373 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top: solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>69,797 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Income tax expense - current</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>14,484 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>7,520 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>24,907 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>13,421 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Income tax expense - deferred</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:25.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>7,833 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>5,906 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>18,102 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>13,091 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><b><font size=1>Net income</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       38,261 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       21,836 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     73,364 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     43,285 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><b><font size=1>Basic weighted-avg shares outstanding</font></b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>56,960 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>57,167 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>57,095 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>58,401 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><b><font size=1>Diluted weighted-avg shares outstanding</font></b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>66,769 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>66,121 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>66,847 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>67,292 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.05in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><b><font size=1>Basic net income per common share</font></b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           0.67 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           0.38 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         1.28 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         0.74 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><b><font size=1>Diluted net income per common share</font></b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           0.59 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$           0.34 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         1.13 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$         0.67 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>4</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.25in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font SIZE=2>BALANCE SHEET</font></b></u><b><u></u></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(In thousands)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>December 31,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Working capital </font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$            739 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       12,035 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Long-term debt</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     150,838 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     136,791 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Stockholders' equity</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     518,420 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     484,455 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:5.45pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Shares outstanding </font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>56,375 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>56,958 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.25in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font SIZE=2>PROVEN RESERVES</font></b></u><b><u></u></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>December 31,</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>December 31,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2003</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:16.35pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Oil (MBbls)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>56,574 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>47,787 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:16.35pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Gas (MMcf)</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>319,196 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>307,024 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:16.35pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font SIZE=1>MMCFE (6:1)</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>658,638 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>593,744 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=top style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.25in'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b><font SIZE=2>CASH FLOW</font></b></u><b><u></u></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(In thousands)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Reconciliation of Discretionary Cash Flow</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=1>to Net Cash Provided by Operating Activities:</font></b></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Three Months Ended</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>Six Months Ended</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td  nowrap colspan="3" valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>June 30,</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2005</font></b></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=1>2004</font></b></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Discretionary Cash Flow (1)</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     105,175 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       64,520 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$    195,959 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$   120,712 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(Gain) loss on property sales</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>26 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,581)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>26 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,776)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Exploration exp, excluding exploratory dry</font></p>
<p style='margin-left:0pt;text-indent:3.75pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>hole exp</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(7,797)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(4,304)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:15.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(14,680)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(9,964)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>Minority interest &amp; other</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(1,339)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:28.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(3,749)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:24.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(293)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(2,588)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.75pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>Changes in working capital and deferred</font></p>
<p style='margin-left:0pt;text-indent:3.75pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font size=1>taxes</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(2,620)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>5,015 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:23.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>4,564 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>(6,565)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>Net cash provided by operating activities</font></p> </td>
        <td width="71" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       93,445 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:10.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$       59,901 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$    185,576 </font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:double black 2.25pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:5.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     99,819 </font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:8.1pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>Net cash used in investing activities</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     (75,700)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     (20,818)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$  (169,978)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:6.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$  (62,290)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:8.1pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font size=1>Net cash used in financing activities</font></p> </td>
        <td width="71" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     (24,697)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$     (29,308)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style=' border-bottom:double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:3.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$    (11,448)</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt;height:13.5pt'>
            <p style='margin-left:0pt;text-indent:6.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>$  (24,775)</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:13.5pt'>
        <td width="205" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="71" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="68" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="52" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:13.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:83.25pt'>
        <td  nowrap colspan="9" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:83.25pt'>
            <p style='margin-left:.25in;text-indent:-.25in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>(1)&nbsp;&nbsp;&nbsp;&nbsp;Discretionary cash flow is computed as net income plus depreciation, depletion, amortization, impairments, deferred taxes, exploration </font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>expense,stock-based compensation expense, and non-cash changes in the Net Profits Plan liability less the cumulative effect of unrealized derivative</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>loss.  The non-GAAP measure of discretionary cash flow is presented since management believes that it provides useful additional information to</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font
size=1>investors for analysis of St. Mary&#146;s ability to internally generate funds for exploration, development and acquisitions.  In addition, discretionary cash</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>flow is widely used by professional research analysts and others in the valuation, comparison and investment recommendations of companies in the</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>oil and gas exploration and production industry, and many investors use the published research of industry research analysts in making investment</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>decisions.  Discretionary cash flow should not be considered in isolation or as a substitute for net income, income from operations, net cash provided</font></p>
<p
style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>by operating activities or other income, profitability, cash flow or liquidity measures prepared under GAAP. Since discretionary cash flow excludes</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>some, but not all, items that affect net income and net cash provided by operating activities and may vary among Companies, the discretionary cash</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>flow amounts presented may not be comparable to similarly titled measures of other companies.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>5</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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