<SUBMISSION>
<ACCESSION-NUMBER>0000893538-05-000099
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20051103
<ITEMS>2.02
<ITEMS>9.01
<FILING-DATE>20051104
<DATE-OF-FILING-DATE-CHANGE>20051103
<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>051178361
</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>asci110305_8k.htm
<DESCRIPTION>11/03/05 OPERATIONS UPDATE 8K
<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>November 3, 2005 (November 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>

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


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr >
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Delaware</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>001-31539</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>41-0518430</font></p> </td> </tr>
    <tr >
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(State or other jurisdiction</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(I.R.S. Employer</font></p> </td> </tr>
    <tr >
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>of incorporation)</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>File Number)</font></p> </td>
        <td width="213" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Identification No.)</font></p> </td> </tr></table>

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


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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" nowrap 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>In accordance with General Instruction B.2. of Form 8-K, the following 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-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>On November 3, 2005, St. Mary Land &amp; Exploration Company issued a press release announcing its results of operations for the quarterly period ended September&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 third quarter 2005 earnings teleconference call for November 4, 2005, at 9:00 a.m. (MST).  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 </font>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.</p>

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


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            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 9.01</font></b></p> </td>
        <td width="259" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;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="536" 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'><font size=1>&nbsp;</font></p> </td>
        <td width="48" nowrap 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" nowrap 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=1>&nbsp;</font></p> </td>
        <td width="90" valign=top >
            <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 November 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;'><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;'>
</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>


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            <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="360" nowrap 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:  November 3, 2005</font></p> </td>
        <td  nowrap 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="104">
            <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  nowrap colspan="2" valign=top >
            <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=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  nowrap colspan="2" valign=top >
            <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="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  nowrap colspan="3" valign=top style='padding:0in 0in .25in 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:.25in'><font size=1>&nbsp;</font></p> </td>
        <td width="101" nowrap 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="31" ></td>

        <td width="41" ></td>

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

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

        <td width="60" ></td>

        <td width="104" ></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>EXHIBIT 99.1 PRESS RELEASE NOVEMBER 3, 2005
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>


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            <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="108" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b>Exhibit 99.1</b></u></p> </td> </tr></table>

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

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

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


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            <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  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><b>For Information</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 width="432" valign=top >
            <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  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Mark A. Hellerstein</p> </td> </tr>
    <tr >
        <td width="432" valign=top >
            <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  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Robert T. Hanley</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="432" valign=top >
            <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="120" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>303-861-8140</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="432" ></td>

        <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;'>&nbsp;</p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B>ST. MARY REPORTS RESULTS FOR THIRD QUARTER 2005, RECORDS FIFTH CONSECUTIVE QUARTER WITH INCREASING PRODUCTION AND <font FACE="ARIAL" SIZE=2>UPDATES GUIDANCE</font></B></p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b>DENVER, November 3, 2005 </b>&#150; St. Mary Land &amp; Exploration Company (NYSE: SM) today reported earnings for the third quarter 2005 of $27.3 million or $0.42 per diluted share.  Third quarter 2004 earnings were $22.6 million or $0.36 per diluted share.  Earnings include the effect of the non-cash after tax expense of $35.3 million or $0.53 per diluted share in the third quarter of 2005 and $4.8 million or $0.07 per diluted share in the third quarter of 2004 for the change in the estimated liability for future payments under the Company&#146;s Net Profits Interest Bonus Plan.  </p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>Mark Hellerstein, Chairman, President and CEO, commented, &#147;This was another record quarter for production and discretionary cash flow at St. Mary.  In addition to operating in a high commodity price environment, we have now increased production for five consecutive quarters.  We have an inventory of several multi-year resource programs that give us a solid base for future growth.&#148;</p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>Revenues for the third quarter of 2005 were a record $203.3 million compared to $108.1 million for the third quarter of 2004.  Third quarter 2005 Discretionary Cash Flow<sup>(1)</sup> increased to a record $125.1 million from $71.6 million in the third quarter of 2004.  Net cash provided by operating activities increased to $116.6 million in the third quarter of 2005 from $57.3 million in the third quarter of 2004.</p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>Earnings for the first nine months of 2005 were $100.7 million or $1.55 per diluted share, compared to $65.9 million or $1.03 per diluted share for the first nine months of 2004. Revenues for the first nine months of 2005 were $511.7 million compared to $306.7 million for the same period in 2004.  Discretionary cash flow for the first nine months of 2005 increased to $321.0 million from $192.3 million in the first nine months of 2004.   Net cash provided by operating activities increased to $302.1 million in the first nine months of 2005 from $157.1 million in the first nine months of 2004.</p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>Daily oil and gas production during the third quarter 2005 averaged a record 251.1 million cubic feet of gas equivalent (MMCFED), a 22% increase from the 206.5 MMCFED of production in the comparable 2004 period.  Average prices realized during </p>

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>the quarter were $7.83 per Mcf and $55.95 per barrel, 48% and 65% higher, respectively, than the realized prices in the third quarter of 2004.  </p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>The Company also announced that it has increased its 2005 forecast of the exploration and development costs component of capital expenditures to $322 million from $311 million.  In addition, St. Mary has spent approximately $87&nbsp;million on acquisitions in 2005, including asset retirement obligation capitalized assets.  The following adjustments to the forecast reflect cost increases and changes to the Company&#146;s planned drilling activity for the balance of 2005.  </p>

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


<table border="0" cellspacing=0 cellpadding=0 width="539" style='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=1>&nbsp;</font></p> </td>
        <td  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u>Increase (Decrease)  </u></p> </td>
        <td  colspan="8" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u>Revised Total</u></p> </td> </tr>
    <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=1>&nbsp;</font></p> </td>
        <td  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Mid-Continent Region  </p> </td>
        <td  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$11 million</p> </td>
        <td  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$106 million</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="48" valign=top >
            <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  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Rocky Mountain Region</p> </td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>(2 million)</p> </td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>101 million</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 width="48" valign=top >
            <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  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>ArkLaTex Region</p> </td>
        <td  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>10 million</p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>46 million</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 width="48" valign=top >
            <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  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Gulf Coast Region</p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>(6 million)</p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>34 million</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 width="48" valign=top >
            <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  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Coalbed Methane</p> </td>
        <td  colspan="4" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>-</p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>28 million</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 width="48" valign=top >
            <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  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Permian Basin Region</p> </td>
        <td  colspan="6" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u>(2 million)</u></p> </td>
        <td width="77" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u>7 million</u></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="48" valign=top >
            <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  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Total</p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$11 million</p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$322 million</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 width="48" ></td>

        <td width="188" ></td>

        <td width="33" ></td>

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

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

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

        <td width="31" ></td>

        <td width="107" ></td>

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

        <td width="8" ></td>

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

        <td width="8" ></td>

        <td width="77" ></td>

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

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

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

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

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

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


<table border="0" cellspacing=0 cellpadding=0 width="627" style='border-collapse:collapse'>
    <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=1>&nbsp;</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'><u>4th Quarter</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>Year</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="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Oil and gas production</p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>21.5 &#150; 22.5 BCFE  </p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>87.0 &#150; 88.0 BCFE</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 width="288" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>Lease operating expenses</p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$1.08 - $1.12/MCFE  </p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$1.03 - $1.07/MCFE</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'>Production taxes</p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$0.74 - $0.78/MCFE  </p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$0.54 - $0.58/MCFE</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'>General and administrative exp.  </p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$0.46 - $0.52/MCFE  </p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$0.38 - $0.41/MCFE</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'>Depreciation, depletion &amp; amort.  </p> </td>
        <td  colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$1.69 - $1.74/MCFE  </p> </td>
        <td  colspan="5" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$1.56 - $1.71/MCFE</p> </td> </tr>
    <tr>
        <td width="288" ></td>

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

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

        <td width="147" ></td>

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

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

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

        <td width="67" ></td>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>Change in non-cash liability net</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="637" style='border-collapse:collapse'>
    <tr >
        <td width="16" valign=top >
            <p><font size=1>&nbsp;</font></p></td>
        <td width="225" valign=top >
            <p ><font face="Arial" size=2>of future payments under the</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="16" valign=top >
            <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  colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=2>net profits interest bonus plan  </font></p> </td>
        <td width="175" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$21.0 - $28.0 million  </p> </td>
        <td width="164" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>$92.0 - $99.0 million</p> </td> </tr>
    <tr>
        <td width="16" ></td>

        <td width="225" ></td>

        <td width="57" ></td>

        <td width="175" ></td>

        <td width="164" ></td> </tr> </table>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>Reflected in the above forecasts are 700 MMCFE of estimated production in the fourth quarter and 1,100 MMCFE of estimated production during the year 2005 that has been shut in due to Hurricanes Katrina and Rita.  </p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" size=2>St. Mary estimates its basis differential (the difference between estimated realized oil and gas prices, before hedging, and the applicable NYMEX prices) for the fourth quarter of 2005 will be $3.40 to $3.65 per barrel for oil and $1.20 to $1.30 per MMbtu for gas.</font></p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>Operational updates for the third quarter 2005 were provided in the Company&#146;s October 14, 2005 press release.  </p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>As previously announced, the St. Mary third quarter earnings teleconference call is scheduled for November 4 at 9:00 am (MST).  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 November 12 at 800-642-1687, </p>

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

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

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

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

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>conference number 1144998.  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, conference number 1144998.  In addition, the call will be broadcast live at St. Mary&#146;s website at <font face="Arial" size=2>www.stmaryland.com</font> and this press release and financial highlights attachment will be available before the call at <font face="Arial" size=2>www.stmaryland.com</font> under &#147;News&#151;Press Releases.&#148;  An audio recording of the conference call will be available at that site through November 12, 2005.</p>

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

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" 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 and hedging 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;'>&nbsp;</p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;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=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" 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 face="Arial" size=2>Discretionary cash flow is computed as net income plus depreciation, depletion, amortization, ARO accretion, impairments, deferred taxes, exploration expense, stock based compensation expense and non-cash changes in the Net Profits Interest Plan liability, less the cumulative effect of unrealized derivative loss or gain.  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;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>PR-05-17</p>

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

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

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

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


<table border="0" cellspacing=0 cellpadding=0 width="707" style='margin-left:0in;border-collapse:collapse'>
    <tr style='height:12.95pt'>
        <td  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 face="Arial" 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 FACE="ARIAL" 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 face="Arial" size=2>September 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 face="Arial" size=2>(Unaudited)</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="252" 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 FACE="ARIAL" SIZE=1>PRODUCTION DATA</font></B></U><u></u></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 face="Arial" size=1>For the Three Months</font></b></p> </td>
        <td width="47" 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  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 face="Arial" size=1>For the Nine Months</font></b></p> </td>
        <td width="47" 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="252" 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 face="Arial" size=1>Ended September 30,</font></b></p> </td>
        <td width="47" nowrap rowspan=2 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 face="Arial" size=1>Percent</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Change</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 face="Arial" size=1>Ended September 30,</font></b></p> </td>
        <td width="47" nowrap rowspan=2 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 face="Arial" size=1>Percent</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Change</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="85" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="18" 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 face="Arial" size=2>&nbsp;</font></p> </td>
        <td width="78" 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 face="Arial" size=1>2004</font></b></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Average realized price, net of hedging:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Gas (per Mcf)</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$             7.83 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           5.29 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>48%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:13.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           6.98 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$          5.30 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>32%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil (per Bbl)</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           55.95 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$         33.87 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>65%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:13.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$         50.05 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$        31.04 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>61%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="252" 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="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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="252" 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 face="Arial" size=1>Production:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Gas (MMcf)</font></p> </td>
        <td width="84" 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 face="Arial" size=1>13,894 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>11,531 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>20%</font></p> </td>
        <td width="85" 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 face="Arial" size=1>39,125 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>34,214 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>14%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil (MBbls)</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>1,534 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>1,245 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>23%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>4,396 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>3,547 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>24%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font FACE="ARIAL" SIZE=1>MMCFE (6:1)</font></p> </td>
        <td width="84" 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 face="Arial" size=1>23,100 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>19,000 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>22%</font></p> </td>
        <td width="85" 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 face="Arial" size=1>65,502 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>55,494 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>18%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="252" 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="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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="252" 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 face="Arial" size=1>Daily production:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Gas (Mcf per day)</font></p> </td>
        <td width="84" 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 face="Arial" size=1>151,021 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>125,342 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>20%</font></p> </td>
        <td width="85" 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 face="Arial" size=1>143,315 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>124,870 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>15%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil (Bbls per day)</font></p> </td>
        <td width="84" 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 face="Arial" size=1>16,678 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>13,530 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>23%</font></p> </td>
        <td width="85" 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 face="Arial" size=1>16,103 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>12,944 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>24%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>MCFE per day (6:1)</font></p> </td>
        <td width="84" 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 face="Arial" size=1>251,090 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>206,523 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>22%</font></p> </td>
        <td width="85" 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 face="Arial" size=1>239,932 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>202,533 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>18%</font></p> </td> </tr>
    <tr style='height:.05in'>
        <td width="252" 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="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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="252" 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 face="Arial" size=1>Margin analysis per MCFE:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Average realized price, net of hedging</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$             8.43 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           5.43 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>55%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:13.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           7.53 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$          5.25 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>43%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Lease operating expense and transportation</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>1.07 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.88 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>22%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>1.03 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.92 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>12%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Production taxes</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.58 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.39 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>49%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.50 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.34 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>47%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>General and administrative costs</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.42 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.29 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>45%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:39.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.35 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:33.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>0.30 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>17%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Operating margin</font></p> </td>
        <td width="84" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            6.36 </font></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           3.87 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>64%</font></p> </td>
        <td width="85" 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:13.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           5.65 </font></p> </td>
        <td width="18" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="78" 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 face="Arial" size=1>$          3.69 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>53%</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Depletion, depreciation and amortization</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            1.60 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           1.13 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>42%</font></p> </td>
        <td width="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:13.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           1.54 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$          1.13 </font></p> </td>
        <td width="47" 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 face="Arial" size=1>36%</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:7.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="252" 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 FACE="ARIAL" SIZE=1>INCOME STATEMENT</font></B></U><u></u></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" 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 face="Arial" size=1>For the Three Months</font></b></p> </td>
        <td width="47" 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  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 face="Arial" size=1>For the Nine Months</font></b></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Ended September 30,</font></b></p> </td>
        <td width="47" 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 face="Arial" size=1>Ended September 30,</font></b></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="18" 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 face="Arial" size=2>&nbsp;</font></p> </td>
        <td width="78" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Operating Revenues:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil and gas production revenue</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      203,144 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:8.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      116,514 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      501,935 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$    324,301 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil and gas hedge loss</font></p> </td>
        <td width="84" 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 face="Arial" size=1> (8,441)</font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1> (13,323)</font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1> (8,967)</font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (33,056)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Marketed gas revenue</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>7,650 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>3,798 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>16,597 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>11,095 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Gain on sale of proved properties</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>246 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:37.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>738 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>220 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>2,514 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Other revenue</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>705 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:37.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>351 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>1,911 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>1,857 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>203,304 </font></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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:24.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>108,078 </font></p> </td>
        <td width="47" 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="85" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>511,696 </font></p> </td>
        <td width="18" 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 face="Arial" size=2>&nbsp;</font></p> </td>
        <td width="78" 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:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>306,711 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Operating expenses:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil and gas production expense</font></p> </td>
        <td width="84" 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 face="Arial" size=1>38,071 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>24,163</font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>100,418</font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>69,279 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Depletion, depreciation, amortization</font></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:1.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>and abandonment liability accretion</font></p> </td>
        <td width="84" 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 face="Arial" size=1>36,952 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>21,470 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>100,933 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>62,769 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Exploration</font></p> </td>
        <td width="84" 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 face="Arial" size=1>10,692 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>8,871 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>27,474 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>20,071 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Impairment of proved properties</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:50.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>-   </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:46.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>-   </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:50.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>-   </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>494 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Abandonment and impairment of unproved properties</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>817 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:37.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>744 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>4,506 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>2,632 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>General and administrative</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>9,772 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>5,472 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>23,239 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>16,459 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Change in Net Profits Interest Plan liability</font></p> </td>
        <td width="84" 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 face="Arial" size=1>54,857 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>7,527 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>71,253 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>14,012 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Marketed gas operating expense</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>7,255 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>3,493 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>15,607 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>10,214 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Derivative loss (gain)</font></p> </td>
        <td width="84" 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 face="Arial" size=1> (60)</font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:33.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (915)</font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>1,310 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1> (46)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Other expense</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>365 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:37.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>750 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>1,962 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>1,860 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>158,721 </font></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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:26.25pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>71,575 </font></p> </td>
        <td width="47" 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="85" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>346,702 </font></p> </td>
        <td width="18" 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 face="Arial" size=2>&nbsp;</font></p> </td>
        <td width="78" 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:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>197,744 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.05in'>
        <td width="252" 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="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Income from operations</font></b></p> </td>
        <td width="84" 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 face="Arial" size=1>44,583 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>36,503 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>164,994 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>108,967 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Interest income</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:45.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>83 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>93 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:41.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>263 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>479 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Interest expense</font></p> </td>
        <td width="84" 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 face="Arial" size=1> (2,344)</font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (1,471)</font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1> (6,562)</font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1> (4,524)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Income before income taxes</font></p> </td>
        <td width="84" 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:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>42,322 </font></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>35,125 </font></p> </td>
        <td width="47" 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="85" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>158,695 </font></p> </td>
        <td width="18" 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 face="Arial" size=2>&nbsp;</font></p> </td>
        <td width="78" 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:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>104,922 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Income tax expense - current</font></p> </td>
        <td width="84" 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 face="Arial" size=1>23,605 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>2,098 </font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>48,512 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>15,519 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Income tax expense (benefit) - deferred</font></p> </td>
        <td width="84" 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 face="Arial" size=1> (8,617)</font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>10,462 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>9,485 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>23,553 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Net income</font></b></p> </td>
        <td width="84" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$        27,334 </font></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$        22,565 </font></p> </td>
        <td width="47" 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="85" 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:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      100,698 </font></p> </td>
        <td width="18" 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 face="Arial" size=2>&nbsp;</font></p> </td>
        <td width="78" 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 face="Arial" size=1>$      65,850 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Basic weighted-average shares outstanding</font></b></p> </td>
        <td width="84" 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:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>56,640 </font></p> </td>
        <td width="17" 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="79" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>57,090 </font></p> </td>
        <td width="47" 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="85" 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:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>56,941 </font></p> </td>
        <td width="18" 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="78" 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:26.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>57,963 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.05in'>
        <td width="252" 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="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Diluted weighted-average shares outstanding</font></b></p> </td>
        <td width="84" 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:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>66,738 </font></p> </td>
        <td width="17" 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="79" 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:27.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>66,197 </font></p> </td>
        <td width="47" 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="85" 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:31.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>66,847 </font></p> </td>
        <td width="18" 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="78" 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:26.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>66,914 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Basic net income per common share</font></b></p> </td>
        <td width="84" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            0.48 </font></p> </td>
        <td width="17" 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="79" 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:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            0.40 </font></p> </td>
        <td width="47" 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="85" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            1.77 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$          1.14 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.05in'>
        <td width="252" 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="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Diluted net income per common share</font></b></p> </td>
        <td width="84" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            0.42 </font></p> </td>
        <td width="17" 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="79" 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:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            0.36 </font></p> </td>
        <td width="47" 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="85" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$            1.55 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$          1.03 </font></p> </td>
        <td width="47" 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> </tr></table>

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


<table border="0" cellspacing=0 cellpadding=0 width="707" style='margin-left:0in;border-collapse:collapse'>
    <tr style='height:12.95pt'>
        <td width="252" 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 FACE="ARIAL" SIZE=1>BALANCE SHEET</font></B></U><u></u></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:12.95pt'>
            <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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>(In thousands)</font></p> </td>
        <td width="84" 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><font face="Arial" size=1>September 30,</font></b></p> </td>
        <td width="17" 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="79" 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><font face="Arial" size=1>December 31,</font></b></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Working capital (deficit)</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      (23,820)</font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$        12,035 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Long-term debt</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      151,862 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:8.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      136,791 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Stockholders' equity</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      516,934 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:8.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      484,455 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Shares outstanding </font></p> </td>
        <td width="84" 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 face="Arial" size=1>56,534 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>56,958 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="252" 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 FACE="ARIAL" SIZE=1>PROVEN RESERVES</font></B></U><u></u></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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><font face="Arial" size=1>December 31,</font></b></p> </td>
        <td width="17" 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="79" 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><font face="Arial" size=1>December 31,</font></b></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>2003</font></b></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>Oil (MBbls)</font></p> </td>
        <td width="84" 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 face="Arial" size=1>56,574 </font></p> </td>
        <td width="17" 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="79" 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 face="Arial" size=1>47,787 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.0pt;margin-bottom:0pt'><font face="Arial" size=1>Gas (MMcf)</font></p> </td>
        <td width="84" 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:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>319,196 </font></p> </td>
        <td width="17" 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="79" 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:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>307,024 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:.8pt;text-align:left;margin-top:1.5pt;margin-bottom:0pt'><font FACE="ARIAL" SIZE=1>MMCFE (6:1)</font></p> </td>
        <td width="84" 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:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>658,638 </font></p> </td>
        <td width="17" 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="79" 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:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>593,744 </font></p> </td>
        <td width="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="252" 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 FACE="ARIAL" SIZE=1>CASH FLOW</font></B></U><u></u></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>(In thousands)</font></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:12.95pt'>
        <td width="252" 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'><b><font face="Arial" size=1>Reconciliation of Discretionary Cash Flow</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:12.95pt'>
        <td width="252" 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'><b><font face="Arial" size=1>to Net Cash Provided by Operating Activities:</font></b></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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  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 face="Arial" size=1>For the Three Months</font></b></p> </td>
        <td width="47" 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  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 face="Arial" size=1>For the Nine Months</font></b></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Ended September 30,</font></b></p> </td>
        <td width="47" 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 face="Arial" size=1>Ended September 30,</font></b></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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="84" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="17" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="79" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1>2005</font></b></p> </td>
        <td width="18" 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 face="Arial" size=1>&nbsp;</font></p> </td>
        <td width="78" 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 face="Arial" size=1>2004</font></b></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Discretionary cash flow (1)</font></p> </td>
        <td width="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$       125,071 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$        71,588 </font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      321,030 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$   192,300 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Gain on property sales</font></p> </td>
        <td width="84" 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 face="Arial" size=1>(246)</font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:33.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (738)</font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1> (220)</font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1> (2,514)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Exploration expense, excluding exploratory</font></p> </td>
        <td width="84" 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="17" 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="79" 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="47" 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="85" 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="18" 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="78" 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="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:12.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>dry hole expense</font></p> </td>
        <td width="84" 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 face="Arial" size=1>(10,280)</font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (7,577)</font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (24,960)</font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (17,541)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Minority interest and other</font></p> </td>
        <td width="84" 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 face="Arial" size=1>255 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:33.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (910)</font></p> </td>
        <td width="47" 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="85" 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 face="Arial" size=1> (38)</font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1> (3,498)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Changes in working capital and deferred taxes</font></p> </td>
        <td width="84" 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 face="Arial" size=1>1,770 </font></p> </td>
        <td width="17" 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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:27.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (5,050)</font></p> </td>
        <td width="47" 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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:35.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>6,334 </font></p> </td>
        <td width="18" 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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:22.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1> (11,615)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Net cash provided by operating activities</font></p> </td>
        <td width="84" 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:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$       116,570 </font></p> </td>
        <td width="17" 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="79" 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:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$        57,313 </font></p> </td>
        <td width="47" 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="85" 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:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      302,146 </font></p> </td>
        <td width="18" 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="78" 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 face="Arial" size=1>$    157,132 </font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Net cash used in investing activities</font></p> </td>
        <td width="84" 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:9.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$     (103,294)</font></p> </td>
        <td width="17" 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="79" 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:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$      (46,763)</font></p> </td>
        <td width="47" 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="85" 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:12.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$   (273,272)</font></p> </td>
        <td width="18" 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="78" 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:12.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$ (109,053)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.1in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td width="252" 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 face="Arial" size=1>Net cash provided by (used in) financing activities</font></p> </td>
        <td width="84" 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:9.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$           2,753 </font></p> </td>
        <td width="17" 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="79" 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:9.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$     (13,443)</font></p> </td>
        <td width="47" 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="85" 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:12.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$       (8,695)</font></p> </td>
        <td width="18" 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="78" 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:11.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>$   (38,218)</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.2in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="84" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="17" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="79" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="85" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="18" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="78" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <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="47" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.2in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" 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 face="Arial" size=1>(1)  Discretionary cash flow is computed as net income plus depreciation, depletion, amortization, ARO accretion, impairments, deferred taxes,</font></p> </td>
        <td width="47" nowrap valign=top 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>exploration expense, deferred and accrued stock-based compensation expense, and non-cash changes in the Net Profits Interest Plan liability</font></p> </td>
        <td width="47" nowrap valign=top 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>less the cumulative effect of unrealized derivative loss or gain.  The non-GAAP measure of discretionary cash flow is presented since</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>management believes that it provides useful additional information to investors for analysis of St. Mary&#146;s ability to internally generate funds for</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>exploration, development and acquisitions.  In addition, discretionary cash flow is widely used by professional research analysts and others in the</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>valuation, comparison and investment recommendations of companies in the oil and gas exploration and production industry, and many investors</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>use the published research of industry research analysts in making investment decisions.  Discretionary cash flow should not be considered in</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>isolation or as a substitute for net income, income from operations, net cash provided by operating activities or other income, profitability, cash</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>flow or liquidity measures prepared under GAAP.  Since discretionary cash flow excludes some, but not all, items that affect net income and net</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td  nowrap colspan="8" valign=bottom style=' padding:0in 5.4pt 0in 5.4pt;height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>cash provided by operating activities and may vary among companies, the discretionary cash flow amounts presented may not be comparable to</font></p> </td>
        <td width="47" 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> </tr>
    <tr style='height:.15in'>
        <td width="252" nowrap valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:.15in'>
            <p style='margin-left:0pt;text-indent:1.55pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face="Arial" size=1>similarly titled measures of other companies.</font></p> </td>
        <td width="84" 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:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
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