Production
Average daily production of oil and gas for the whole of 2007 was11,748 BOE/day
Reserves
2007 Reserves
• 53% increase in 1P reserves to 40,824.6 Mboe (2006: 26,614.1 Mboe)
• 46% increase in 2P reserves to 62, 925.8 Mboe (2006: 42,994.0 Mboe)
• 61% increase in 3P reserves to 91,130.3 Mboe (2006: 56,713.0 Mboe)
Proved and Probable Reserve volumes and values increased in 2006 due to the successful development drilling program at Brenda, and the significant increase in oil prices in 2006. Proved reserves of light oil at December 31, 2006 were 26.6 MMBbls, an increase from the 24.6 MMBbls of light oil reported at December 31, 2005. Proved plus Probable reserves at December 31, 2006 increased to 42.9 MMBbls of light oil from 36.8 MMBbls of light oil reported at December 31, 2005. Proved plus Probable plus Possible light oil reserves were 56.7 MMBbls at December 31, 2006 an increase from 51.1 MMBbls reported at December 31, 2005. The Company's 2006 reserves were independently evaluated by Sproule International Limited.