Focus Areas and Competitive Strengths

High Quality Asset Base with Significant Exploitation and Exploration Potential

Lower-risk properties with significant well control and predictable production profiles

Significant development and exploration potential, with multiple producing zones and unexplored deeper horizons

 

Oil-Weighted Reserves and Production

Oil-focused in both our reserve and production as compared to many of our peers

Pro forma net proved reserves at December 31, 2010 were approximately 68% oil

 

Operating Control

Operated properties comprising 79% of our proved reserves

Low-cost operator in the region and therefore able to maximize cash flow

 

Geographically Focused Properties in the Gulf of Mexico

Extensive high-quality 3-D seismic database primarily focused on our core area and covering approximately 11,700 square miles

Existing and growing regional expertise around our core properties

 

Experienced Management and Significant Technical Expertise

Experienced and technically-adept management team, averaging more than 20 years of industry experience among our top executives

Strong technical staff of geologists and geophysicist, field operations managers and engineers to handle all aspects of exploitation, exploration, production and decommissioning activities