Excess Cash Flow

Capex DCF Excess Cash Flow

Excess cash flow at strip pricing

2005 to 2006 ~$1.3 B

2005 to 2008 ~$2.6 B

Excess cash flow at $30 / $5 flat pricing

2005 to 2006 ~$0.3 B

2005 to 2008 ~$0.8 B

Risked Success Plan

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