• Q1-2011 production 5,200 BOE/d (33% oil & liquids)
  
• Q1-2011 eight (7.9 net) wells drilled
  
• 2011 budget capital $68MM
  
• > 275 identified locations
  
• > 80 vertical wells and approximately 70 horizontal multifrac wells drilled to date
  
• Donnelly Gas Plant current sales approximately 23 MMcf/d
  
• Low operating costs of <$1.00/Mcfe
  
• Low capex of $1.3 MM/well
  
• High netback, liquids rich gas (oil & liquids recovery over 17 Bbl/MMcf)
  
• Positive results continue to come in from emerging Montney oil project
  
• Expansion to gas project requires commodity price improvement

Eastern Montney - Oil

• Emerging Montney oil project
  
• Eight wells drilled to date
  
• Average wells on at >200 BOE/d (75% oil)
  
• 14 additional horizontal locations in the first phase development of the first pool
  
• Additional, similar accumulations exist along trend on Galleon landnd, on Galleon land