Capex Data
The Company has approved a capital budget of $96 million for 2008, which includes $13 million to fund the Company's Alaska exploration and testing program; $31 million to fund the remaining development capital at the Ettrick field, $50 million for North Sea exploration and $2 million for other capital expenditures.
Future Plans
Production, cash flow and earnings are beginning to grow due to the achievement of first production at the Enoch and Blane fields. With the Chestnut field expected to reach first production late in the first quarter of 2008, and the Ettrick field expected to reach first production in mid-2008, sales volumes, cash flow and earnings are expected to continue to grow substantially over the next twelve months.