<SEC-DOCUMENT>0001144204-11-028370.txt : 20110512
<SEC-HEADER>0001144204-11-028370.hdr.sgml : 20110512
<ACCEPTANCE-DATETIME>20110512090037
ACCESSION NUMBER:		0001144204-11-028370
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110512
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110512
DATE AS OF CHANGE:		20110512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EVOLUTION PETROLEUM CORP
		CENTRAL INDEX KEY:			0001006655
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				411781991
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32942
		FILM NUMBER:		11833915

	BUSINESS ADDRESS:	
		STREET 1:		2500 CITYWEST BLVD
		STREET 2:		SUITE 1300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
		BUSINESS PHONE:		713-935-0122

	MAIL ADDRESS:	
		STREET 1:		2500 CITYWEST BLVD
		STREET 2:		SUITE 1300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATURAL GAS SYSTEMS INC/NEW
		DATE OF NAME CHANGE:	20040817

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATURAL GAS SYSTEMS, INC.
		DATE OF NAME CHANGE:	20040810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REALITY INTERACTIVE INC
		DATE OF NAME CHANGE:	19960301
</SEC-HEADER>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman">Evolution Petroleum Corporation</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item 2.02 Results of Operations and Financial Condition.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 63pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May 12, 2011, Evolution Petroleum Corporation (the &#8220;Company&#8221;) issued a press release reporting on financial and operational results for the third quarter of the Company&#8217;s fiscal year ended June 30, 2011. A copy of the press release, dated May 12, 2011, is furnished herewith as Exhibit 99.1</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Evolution Petroleum Corporation Press Release, dated <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">May 12, 2011</font>.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 63pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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></div>

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<html><head><META content="text/html; charset=utf-8"></META></head><body style="font-size:10pt;font-family:Arial;color:black;"><div style="width:100%;margin-left:10pt"><p style="text-align:center"><b>Evolution Petroleum Reports Fiscal 2011 Third Quarter Results</b></p><br /><br /><p style="text-align:center">- Net income achieved on growing oil production </p><br /><br /><p style="text-align:center">- Revenues increased 71% over previous quarter</p><br /><br /><p style="text-align:center">- Delhi oil production increased 113% over previous quarter</p></div><div style="width:100%;margin-left:10pt;"><div style="margin:0;margin-top:16pt;"><p>HOUSTON, May 12, 2011 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE Amex: EPM) today reported results for the third fiscal quarter ending March 31, 2011 (&#34;Q3-11&#34;). The Company earned net income of $0.01 per diluted share in Q3-11, compared to
a $(0.02) net loss in the third quarter of fiscal 2010 (&#34;Q3-10&#34;).</p><p>The turnaround in net income to $170,426 in the current quarter from the $551,521 net loss in Q3-10 was due to a 56% improvement in oil and gas revenue and a 14% decrease in operating costs.  Q3-11 and Q3-10 results included non-cash, stock-based compensation expense of $392,533 and $384,701, respectively.   </p><p>Oil and gas revenues in Q3-11 were $2.0 million compared to Q3-10 revenues of $1.3 million and $1.2 million for the second quarter of fiscal 2011 (&#34;Q2-11&#34;). The revenue increase in Q3-11 was due primarily to increased sales volumes of oil and higher realized oil prices.  </p><p>Net oil and gas volumes for Q3-11 were 28,840 barrels of oil equivalent (320 BOE per day), a slight increase from Q3-10 production of 28,710 BOE (319 BOE per day) and a 30% increase over Q2-11 net sales volumes.
Total volumes in Q3-11 were 57% crude oil, 16% natural gas liquids and 27% natural gas, compared to 21% oil, 22% NGLs and 57% natural gas in Q3-10.  Crude oil sales volumes for Q3-11 included 13,329 barrels from our net interests in the Delhi Field and 3,275 barrels from our net interests in the Giddings Field, as compared to Q3-10 net crude oil sales of 558 barrels from Delhi and 5,525 barrels from the Giddings Field.  All of our NGL and natural gas volumes in Q3-11 and Q3-10 were from Giddings.  Blended oil and gas prices in Q3-11 averaged $69.94 per BOE compared to $44.98 per BOE in Q3-10 and $53.32 per BOE in Q2-11.  The improvement was due to an increased proportion of oil sales on higher liquid prices.</p><p>Lease operating expense (&#34;LOE&#34;) and production taxes were 23% lower in Q3-11 compared to Q3-10 due largely to no well workovers in Q3-11 compared to $130,000 of
workovers in Q3-10.  On a BOE basis, LOE and production taxes decreased to $10.78 per BOE in Q3-11 compared to $14.12 per BOE in Q3-10.</p><p>Depreciation, depletion and amortization expense (&#34;DD&amp;A&#34;) decreased 74% in Q3-11 to $132,516 from $505,445 in Q3-10. The reduction in our DD&amp;A was due to the significant decline in our depletion rate from $17.23 in Q3-10 to $4.31 in Q3-11 following the addition of 9.4 million barrels of proved oil reserves at Delhi at June 30, 2010.  </p><p>Operating results for the nine months ended March 31, 2011 also improved compared to the nine months ended March 31, 2010.  Net loss for the first nine months of fiscal 2011 declined by 60% to $776,443, or $(0.03) per share, versus a loss of $1,958,286, or $(0.07) per share in the comparable period of fiscal 2010.  The current nine month improvement was due to a 19% increase in revenues and an
18% decrease in operating costs. </p><p>Working capital was $3.1 million on March 31, 2011 compared to working capital of $3.2 million on December 31, 2010 and $4.9 million at June 30, 2010. The $1.8 million decrease in working capital since June 30, 2010 was due primarily to investments of $2.9 million in oil and natural gas properties (consisting of $0.8 million for leasehold acquisitions and $2.1 million for development activities), offset by an asset sale of $0.2 million and positive cash flows from operations before changes in working capital.  We continued to be debt free. </p><p>Robert Herlin, President and Chief Executive Officer, commented, &#34;The combination of higher realized oil prices and increasing oil production has allowed us to turn the corner on profitability.  With production volumes growing at our Delhi Field and contributions from our new Giddings wells, we expect
to see continued improvement in our financial results going forward, assuming current commodity prices. Additionally, because we do not incur field operating costs at Delhi, increases in Delhi revenues have a disproportionately higher impact on our cash flows and income.&#34;</p><p><b>Delhi CO2 &#8211; Enhanced Oil Recovery Project (EOR)</b></p><p>Gross sales volumes at Delhi averaged 2,003 BO per day during Q3-11, more than double the 920 BO per day rate in the immediately prior Q2-11.  Gross sales volumes increased steadily throughout Q3-11 from Phase I of the CO2-EOR project and accounted for approximately 98% of total Delhi volumes in Q3-11. All net sales at Delhi are currently generated by our 7.4% royalty interest that is free of all cost and expense.  </p><p>Implementation of Phase II, which is more than double the size of Phase I, commenced with incremental CO2 injection at the
end of December 2010.  First tertiary oil response from Phase II occurred during March 2011, ahead of the expected mid-year 2011 first production date, and accounted for approximately 2% of Q3-11 sales volumes.  Phase I similarly responded earlier than expected in 2010. We expect significant increases in EOR production from Phase II during the remainder of fiscal 2011 and into fiscal 2012.  </p><p>Phase III is currently being installed with first CO2 injection expected during calendar 2011. We expect that the remaining phases IV-VI will be installed similarly over the next few years and are scheduled to include similar numbers of wells as in Phase II, compared to the much smaller Phase I.</p><p>An oil sales pipeline connection completed early in Q3-11 increased the realized oil price at Delhi through elimination of trucking charges.  Furthermore, changes in domestic market conditions
have resulted in a premium price for Delhi&#39;s Louisiana Light Sweet crude oil compared to oil fields in other states.  During Q3-11, Delhi oil sales realized a 12% price premium over the sales price we received from Giddings in central Texas, for example.  We expect that a similar market differential may continue into fiscal 2012.</p><p>As of June 30, 2010, our independent reservoir engineer estimated our Delhi net reserves at 9.4 million barrels of proved oil reserves and 5.7 million barrels of probable oil reserves, based on SEC NYMEX pricing of $76.21 per barrel of oil in effect then.</p><p><b>Giddings Field, Central Texas</b></p><p>We sold 15,511 BOE of production at Giddings Field in Q3-11, a 45% decrease from Q3-10 and 2% decrease from Q2-11 due to natural production decline in the field and a short-term loss of production from our best well through 2011, the Pearson #1H. The
decline was partially offset by the February start of production from our 20% working interest in one of the newly drilled joint venture wells.  In February 2011, Pearson #1H production was re-established to pre-loss rates. </p><p>Development activities in Giddings Field continued during Q3-11 through a previously announced industry joint venture (&#34;JV&#34;).  Three wells have been drilled to date, and in Q3-11 we completed infrastructure and pipelines for the second and third JV wells.  The Lightsey-Lightsey #1H was put on production in early February at an initial flowing rate of 124 BO and 1,235 MCF of rich natural gas per day, and the Dodd #1H was put on production in early April at a pipeline constrained flowing rate of approximately 2,700 MCF of rich natural gas and 17 BO per day. Extensive gas sales lines were completed to two gas purchasers for the Dodd #1H in addition to a
salt water disposal pipeline connection to our wholly owned disposal well.  To date, our share of capital expenditures in the JV program is approximately $0.9 million. Continuation of the program will depend upon our partner&#39;s election following our recent submittal of drilling proposals for the fourth and fifth wells.  We are also exploring opportunities to enter into a second joint venture to develop our remaining drilling locations.  </p><p><b>Unconventional Gas, Eastern Oklahoma</b></p><p>In Oklahoma during Q3-11, we focused on testing our 5,000&#39; depth unconventional gas project in the John Wells #1 well in Haskell County, a vertical well we re-entered in Q2-11. Prior to the single stage hydraulic fracturing stimulation scheduled for May 2011, the gas sales rate in the John Wells #1-28 was approximately 40-50 MCF per day while dewatering. We also are unitizing acreage around
our second Haskell County vertical test well.  The unitization process allows us to force unleased mineral and third party lease owners within a 640 acre section to lease or farm-out their acreage, thereby increasing our net leasehold position, or to participate as a working interest owner.  </p><p>Further testing of our Wagoner County Woodford shale acreage is on hold while we focus on the bigger potential in Haskell County.  To date, we have been able to establish attractive production in one of the three tested acreage blocks in Wagoner County and have elected to not exercise lease renewal options in certain blocks while maintaining our leasehold in the block containing our successful test.</p><p><b>Artificial Lift Technology</b></p><p>We are continuing our negotiations with two companies to demonstrate our proprietary artificial lift technology with the intent of gaining an interest
in the newly re-established production.  We believe that we have reached agreement on principle terms with our first candidate and are finalizing the joint venture agreement. Negotiations with the second candidate are less mature.  </p><p><b>Conference Call</b></p><p>Evolution Petroleum will host a conference call today at 10:00 a.m. Eastern Time (9:00 a.m. Central) to discuss these results. To access the call, please dial 480-629-9818 and ask for the Evolution Petroleum call at least 10 minutes prior to the start time. The conference call will also be broadcast live via the Internet and can be accessed through the investor relations section of Evolution&#39;s corporate website, www.evolutionpetroleum.com, where it will also be archived for replay. A telephonic replay of the conference call will be available until May 19, 2011 and may be accessed by calling 303-590-3030 and using the
pass code 4436768#. For more information, please contact Donna Washburn at DRG&amp;L at (713) 529-6600 or email at dmw@drg-l.com.</p><p><b>About Evolution Petroleum</b></p><p>Evolution Petroleum Corporation develops incremental petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States.   Principal assets as of June 30, 2010 include 12.4 MMBOE of proved and 7.2 MMBOE of probable reserves with a PV10 of $266 million and $64 million, respectively.  Producing assets include a CO2-EOR project with growing production in Louisiana&#39;s Delhi Field, horizontal wells in the Giddings Field of Central Texas and initial test wells in south Texas and eastern Oklahoma.  Other assets include approximately 14,900 net acres in an emerging Woodford shale gas project in Eastern Oklahoma and a proprietary
artificial lift technology designed to extend the life of horizontal wells with oil or associated water production.  </p><p>Additional information, including the Company&#39;s annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at (www.evolutionpetroleum.com)</p><p><b>Cautionary Statement </b></p><p>All statements contained in this press release regarding potential results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events, or otherwise. Important factors that
could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading &#34;Risk Factors&#34; and elsewhere in our documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Statements regarding our ability to complete transactions, successfully apply technology applications in the re-development of oil and gas fields, realize future production volumes, realize success in our drilling and development activity and forecasts of legal claims, prices, future revenues and income and cash flows and other statements that are not historical facts contain predictions, estimates and other forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will
be achieved and these statements will prove to be accurate. Important factors could cause actual results to differ materially from those included in the forward-looking statements.</p><p><b>Company Contact:</b><br />Sterling McDonald, VP &amp; CFO
<br />(713) 935-0122
<br />smcdonald@evolutionpetroleum.com</p><p>Lisa Elliott / lelliott@drg-l.com
<br />Jack Lascar / jlascar@drg-l.com
<br />DRG&amp;L / 713-529-6600</p><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="9" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; margin-left: 18pt;text-align: center; "><font style="font-family:Arial;font-size:8pt;">- &#160; Financial Statements to Follow &#160; &#160;-</font></p><br /><br /><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Evolution Petroleum Corporation and Subsidiaries</font></b></p><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Consolidated Statements of Operations</font></b></p><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">(Unaudited)</font></b></p><br /></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Three Months Ended</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Nine Months Ended</font></b></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align:
center; "><b><font style="font-family:Arial;font-size:8pt;">March 31,</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">March 31,</font></b></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="white-space: nowrap;  margin:0in; text-align:
center; "><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Revenues</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; 1,607,521</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;469,418</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160;3,034,333</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160;
1,428,915</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas liquids</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">228,050</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">282,400</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">669,463</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">847,923</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">181,504</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">539,563</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">661,807</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,385,872</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total revenues</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,017,075</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,291,381</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4,365,603</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,662,710</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Operating Costs</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Lease operating expense </font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">284,577</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">399,833</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">950,382</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">1,134,607</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Production taxes</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">26,308</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">5,432</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">54,084</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">40,258</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Depreciation, depletion and amortization</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;">132,516</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">505,445</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">358,963</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">1,673,344</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Accretion of asset retirement obligations</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">16,233</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">15,562</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">43,314</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">45,100</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">General and administrative *</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,359,161</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,194,872</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,976,115</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,701,584</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total operating costs</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,818,795</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black
1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,121,144</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">5,382,858</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">6,594,893</font></p></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">Income (loss) from operations</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">198,280</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(829,763)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1,017,255)</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(2,932,183)</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Other income</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">Interest income</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,562</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">18,776</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">13,034</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">47,785</font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt;
"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Net income (loss) before income tax benefit</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">199,842</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">(810,987)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1,004,221)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(2,884,398)</font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Income tax (provision) benefit</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(29,416)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">259,466</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">227,778</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">926,112</font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Net income (loss) </font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160;170,426</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; (551,521)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160;(776,443)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160;(1,958,286)</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Earnings
(loss) per common share </font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Basic</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space:
nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.01</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;(0.02)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; (0.03)</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;(0.07)</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Diluted</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160;
0.01</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;(0.02)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; (.03)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;(0.07)</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Weighted average number of common shares</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Basic</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">27,521,957</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">27,144,174</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">27,379,023</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">26,959,713</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Diluted</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt;
padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">30,833,505</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">27,144,174</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">27,379,023</font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">26,959,713</font></p></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1"
style="border-collapse:collapse;border:none;"><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">*General and administrative expenses for the three month period ended March 31, 2011 and 2010 included non-cash stock-based compensation expense of $392,533 and $384,701, respectively. General and administrative expenses for the nine month period ended March 31, 2011 and 2010 included non-cash stock-based compensation expense of $1,143,413 and $1,201,137, respectively.</font></p></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p
style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Evolution Petroleum Corporation and Subsidiaries</font></b></p><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Consolidated Balance Sheets</font></b></p><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">(Unaudited)</font></b></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">March 31,</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p
style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">June 30,</font></b></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Assets</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Current assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="
margin:0in;"><font style="font-family:Arial;font-size:8pt;">Cash and cash equivalents</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160;2,953,481</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; 3,138,259</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">Certificates of deposit</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">250,000</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,350,000</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Restricted cash from joint interest partner</font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">225,847</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Receivables</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;"> &#160; &#160;Oil and natural gas sales</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,062,741</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">536,366</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;"> &#160; &#160;Joint interest partner</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">363,390</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;"> &#160; &#160;Income taxes</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">25,200</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">25,200</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;"> &#160; &#160;Other</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">862</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">147,059</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Income taxes recoverable</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">716,973</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Prepaid expenses and other current assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">267,274</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">315,494</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total current assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">5,148,795</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">6,229,351</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Property and equipment, net of depreciation, depletion, and amortization</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Oil and natural gas properties &#8211; full-cost method of accounting</font><font style="font-family:Arial;font-size:8pt;">, of which $4,987,112</font><font style="font-family:Arial;font-size:8pt;"> and $7,851,068 at March</font><font style="font-family:Arial;font-size:8pt;"> 31, 2011 and June 30, 2010, respectively, were excluded from amortization.</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">33,151,080</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">30,803,061</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Other property and equipment</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">76,443</font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">101,998</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total property and equipment</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">33,227,523</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">30,905,059</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Other
assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">54,117</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">60,665</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;38,430,435</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160;
&#160; &#160; 37,195,075</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Liabilities and Stockholders&#39; Equity</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Current liabilities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Accounts payable</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160;
&#160; &#160; &#160;511,926</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;678,609</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Joint interest advances</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">214,068</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Accrued compensation</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">501,323</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">75,692</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Royalties payable</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">654,175</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">221,062</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Income taxes payable</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">139,620</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">202,334</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">Other current liabilities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">72,725</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">110,002</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total current
liabilities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,093,837</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,287,699</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Long term liabilities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Deferred income taxes </font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">2,886,870</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,949,880</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Asset retirement obligations</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">827,987</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">811,635</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Stock-based compensation</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">587,033</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Deferred rent </font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">84,468</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">81,635</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total liabilities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">5,893,162</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">5,717,882</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">Commitments</font><font style="font-family:Arial;font-size:8pt;"> and contingencies (Note 9)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">Stockholders&#39; equity</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Preferred stock, par value $0.001; 5,000,000 shares authorized; no shares issued or outstanding.</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">-</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Common stock; par value $0.001; 100,000,000 shares authorized; &#160;issued 28,342,766 shares;</font></p><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;"> &#160; outstanding 27,554,566 shares and 27,061,376 shares as of March 31, 2011 and June 30, 2010, respectively.</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">28,342</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">27,849</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Additional paid-in capital</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">20,368,673</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">18,532,643</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Retained earnings</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">13,022,280</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">13,798,723</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">33,419,295</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">32,359,215</font></p></td><td style=""></td></tr><tr><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Treasury stock, at cost, 788,200 shares as of March 31, 2011 and June 30, 2010.</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(882,022)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(882,022)</font></p></td><td style=""></td></tr><tr><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font style="font-family:Arial;font-size:8pt;">Total stockholders&#39; equity</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">32,537,273</font></p></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">31,477,193</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 22pt;"><font
style="font-family:Arial;font-size:8pt;">Total liabilities and stockholders&#39; equity</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;38,430,435</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; 37,195,075</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="8" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in;
text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Evolution Petroleum Corporation and Subsidiaries</font></b></p><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Consolidated Statements of Cash Flows</font></b></p><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">(Unaudited)</font></b></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Nine Months Ended</font></b><br /><b><font style="font-family:Arial;font-size:8pt;">March</font></b><b><font
style="font-family:Arial;font-size:8pt;">&#160;31,</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;"> &#160; &#160; 2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">
&#160;2010</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Cash flows from operating activities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 10pt;"><font
style="font-family:Arial;font-size:8pt;">Net loss</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(776,443)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">(1,958,286)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 10pt;"><font style="font-family:Arial;font-size:8pt;">Adjustments to reconcile net loss to net cash provided by operating activities:</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left:
20pt;"><font style="font-family:Arial;font-size:8pt;">Depreciation, depletion and amortization</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">358,963</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,673,344</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left:
20pt;"><font style="font-family:Arial;font-size:8pt;">Stock-based compensation</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,143,413</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,201,137</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font
style="font-family:Arial;font-size:8pt;">Accretion of asset retirement obligations</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">43,314</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">45,100</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font
style="font-family:Arial;font-size:8pt;">Payments on asset retirement obligations</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1,847)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font
style="font-family:Arial;font-size:8pt;">Deferred income taxes</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(261,965)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(867,207)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font
style="font-family:Arial;font-size:8pt;">Accrued compensation</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">315,000</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font style="font-family:Arial;font-size:8pt;">Deferred
rent</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,833</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,833</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font style="font-family:Arial;font-size:8pt;">Other</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">32,080</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4,678</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 20pt;"><font style="font-family:Arial;font-size:8pt;">Changes in operating assets and liabilities</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Receivables from oil and natural gas sales</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(526,375)</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(84,866)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Receivables from income taxes and other</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,125,374</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,137,875</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Due from joint interest partner</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(230,227)</font></p></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Prepaid expenses and other current assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">48,220</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(38,614)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Accounts payable and accrued expenses</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">273,286</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(121,058)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Royalties payable</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">433,113</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt
5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(54,539)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Income taxes payable</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(125,963)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt
5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(157,736)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 50pt;"><font style="font-family:Arial;font-size:8pt;">Net cash provided by operating activities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,537,776</font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,206,739</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Cash flows from investing activities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Proceeds from asset sale</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">231,326</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Development of oil and natural gas properties</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding:
0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(2,320,102)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(2,767,758)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Acquisitions of oil and natural gas properties</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding:
0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(814,323)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(185,141)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Maturities of certificates of deposit</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt
2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,100,000</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,059,147</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Purchases of certificates of deposit</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1,350,000)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Other assets</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt;
"><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(25,532)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(8,851</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 50pt;"><font style="font-family:Arial;font-size:8pt;">Net cash used in investing activities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1,828,631)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(2,252,603)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid
black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Cash flows from financing activities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Proceeds from the issuance of restricted stock</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">28</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">42</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 30pt;"><font style="font-family:Arial;font-size:8pt;">Proceeds from the exercise of stock options</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">106,049</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p
style="margin:0in; margin-left: 50pt;"><font style="font-family:Arial;font-size:8pt;">Net cash provided by financing activities</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">106,077</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">42</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Net decrease in cash and cash equivalents</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right:
10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(184,778)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(45,822)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Cash and cash equivalents, beginning of period</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,138,259</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">3,891,764</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Cash and cash equivalents, end of period</font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,953,481</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,845,942</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="8" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Our supplemental disclosures of cash flow information for the nine months ended March&#160;31, 2011 and 2010 are as follows</font></b><font style="font-family:Arial;font-size:8pt;">:</font></p></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Nine Months Ended</font></b></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">March&#160;31,</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font
style="font-family:Arial;font-size:8pt;"> &#160; 2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;"> &#160; 2010</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Income taxes paid</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">152,000</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">251,800</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Income tax refunds and carry backs received</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">979,177</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,095,126</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Non-cash transactions</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 10pt;"><font style="font-family:Arial;font-size:8pt;">Decrease in accounts payable used to acquire oil and natural gas leasehold interests and develop oil and natural gas properties:</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(196,557)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(187,681)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 10pt;"><font style="font-family:Arial;font-size:8pt;">Increase in accounts payable related to joint venture activities:</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right:
6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">144,942</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">&#8212;</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 10pt;"><font style="font-family:Arial;font-size:8pt;">Oil and natural gas properties incurred through recognition of asset retirement
obligations:</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(25,115)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">70,871</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="13" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Results of Operations for three month period
ended March 31, 2011 and 2010</font></b></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Three Months Ended</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">March&#160;31</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">%</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font
style="font-family:Arial;font-size:8pt;">Variance</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">change</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Sales Volumes, net to the Company:</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil (Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">16,604</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2"
style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">6,083</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">10,521</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">173</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="
margin:0in;"><font style="font-family:Arial;font-size:8pt;">NGLs (Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4,533</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">6,217</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1,684)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(27)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas (Mcf)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt
5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">46,220</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">98,458</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(52,238)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(53)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 40pt;"><font style="font-family:Arial;font-size:8pt;">Crude oil, NGLs and natural gas (BOE)</font> &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align:
right; "><font style="font-family:Arial;font-size:8pt;">28,840</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">28,710</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">130</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p
style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">0</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Revenue data:</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="
margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,607,521</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">469,418</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,138,103</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">242</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">NGLs</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">228,050</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">282,400</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(54,350)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(19)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;
&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">181,504</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">539,563</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt;
padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(358,059)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(66)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 40pt;"><font style="font-family:Arial;font-size:8pt;">Total revenues</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;
&#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">2,017,075</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,291,381</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">725,694</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">56</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Average price:</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil (per Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">96.82</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">77.17</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">19.65</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">25</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">NGLs (per Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">50.31</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">45.42</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4.89</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">11</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p
style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas (per Mcf)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3.93</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">5.48</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(1.55)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(28)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 40pt;"><font style="font-family:Arial;font-size:8pt;">Crude oil, NGLs and natural gas (per BOE)</font> &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">69.94</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">44.98</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">24.96</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">55</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Expenses (per BOE)</font></b> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Lease operating expenses and production taxes</font> &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">10.78</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">14.12</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(3.34)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(24)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Depletion expense on oil and natural gas properties (a)</font>&#160;</p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4.31</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">17.23</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(12.92)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(75)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom"
colspan="13" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">(a) Excludes depreciation of office equipment, furniture and fixtures, and other of $8,215 and $10,797, for the three months ended March&#160;31, 2011 and 2010, respectively.</font></p><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt
5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="13" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Results of Operations for nine month period ended March 31, 2011 and 2010</font></b></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Nine Months Ended</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="5" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">March&#160;31</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">%</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt;
border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">Variance</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><b><font style="font-family:Arial;font-size:8pt;">change</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font
style="font-family:Arial;font-size:8pt;">Sales Volumes, net to the Company:</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil (Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;
&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">34,670</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">19,781</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">14,889</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">75</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom"
colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">NGLs (Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">14,621</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">21,979</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(7,358)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(33)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas (Mcf)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">163,735</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">319,154</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(155,419)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(49)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 40pt;"><font style="font-family:Arial;font-size:8pt;">Crude oil, NGLs and natural gas (BOE)</font> &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">76,580</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">94,952</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(18,372)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(19)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td
valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Revenue data:</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,034,333</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,428,915</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,605,418</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">112</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">NGLs</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">669,463</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">847,923</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(178,460)</font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(21)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">661,807</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">1,385,872</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(724,065)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">(52)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 40pt;"><font style="font-family:Arial;font-size:8pt;">Total revenues</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;
 margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4,365,603</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">3,662,710</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">702,893</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">19</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Average price:</font></b></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Crude oil (per Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p
style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">87.52</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">72.24</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p
style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">15.28</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">21</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">NGLs
(per Bbl)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">45.79</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">38.58</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">7.21</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">19</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Natural gas (per Mcf)</font> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4.04</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4.34</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">(0.30)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(7)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; margin-left: 40pt;"><font style="font-family:Arial;font-size:8pt;">Crude oil, NGLs and natural gas (per BOE)</font> &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">57.01</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">38.57</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">18.43</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">48</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="
margin:0in;"><b><font style="font-family:Arial;font-size:8pt;">Expenses (per BOE)</font></b> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td style=""></td></tr><tr><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Lease operating expenses and production taxes</font> &#160; &#160; &#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">13.12</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">12.37</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">0.75</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;">6</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">Depletion expense on oil and natural gas properties (a)</font>&#160;</p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">4.35</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">17.22</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">$</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(12.87)</font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;">(75)</font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">%</font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="13" style="padding: 0pt 5.4pt 2pt 5.4pt;"><br /><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;">(a) Excludes depreciation of office equipment, furniture and fixtures, and other of $25,555 and $38,223, for the nine months ended March&#160;31, 2011 and 2010, respectively</font></p><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt
5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><br /><br /><p></p></div></div></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
