Growth Strategy

• Low-Risk, Low Cost Reserve Potential for Several Years Through CO2

  • Spend 1/3 to 1/2 of corporate cash flow in CO2 areas – replace 100% production
  • Spend balance of cash flow on development in core areas or to pay down debt

• Maintain a Balanced Portfolio of Projects and Opportunities

• Maintain a Strong Balance Sheet

• Acquire Properties with Significant Upside and Potential to Double Reserves

• Use Price Floors and Collars to Protect Against Downside Volatility

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