Operations

Our properties are located in the Los Angeles Basin in California, the Wind River and Big Horn Basins in central Wyoming, the Sunniland Trend in Florida, the Antrim Shale in Northern Michigan and the New Albany Shale in Indiana and Kentucky, all of which are mature producing regions with well known geologic characteristics.

Our major properties are characterized by long-lived reserves with stable production profiles.

Of our total estimated proved reserves as of December 31, 2010, 68 percent were located in Michigan, 12 percent in California, ten percent in Wyoming and eight percent in Florida with the remaining two percent in Indiana and Kentucky.

On a net production basis, we operate approximately 85% of our production.