Business Description

• Among the 30 largest independent oil and gas companies in the U.S.
• Michigan's largest independent oil and gas producer
• Proved reserves of 183 million net equivalent barrels

1998 Operating Highlights

• Began gas production in Tunisia, following completion of pipeline construction
• Increased oil and gas production by 700,000 net equivalent barrels
• Began drilling first well in Côte d'Ivoire

1999 Outlook

• Begin construction of 2,500 tons/day methanol plant in Equatorial Guinea
• Increase focus on U.S. onshore gas exploration and production opportunities in Texas, Oklahoma and Wyoming, to increase CMS domestic gas reserves
• Drill exploratory well in Cameroon