We believe our current performance and future success will be directly related to the following combination of strengths that enable us to implement our strategy.
• Experienced Executive and Technical Team with significant ownership interest
The members of our Executive and Technical teams (including our Chief Executive Officer) have more than 100 years of experience in the oil and gas industry and significant experience in building and managing independent oil and gas companies. The majority of our executives have spent their entire careers developing oil and gas properties. Our team has a proven record of analyzing complex structural and stratigraphic formations using 3-D seismic and geological techniques, producing and optimizing oil reservoirs and drilling and completing and rehabilitating mature oil producing properties. Our management team and employees also own significant equity positions of the company aligning their objectives with those of our stockholders.
• Low Risk, Multi-year Drilling Inventory
Our Technical Team’s ability to locate and execute on repeatable low-risk drilling opportunities on our current acreage holdings will help maximize the value of each property while minimizing the cost and potential downside. We have identified dozens of low to moderate risk locations on our Texas, Kansas and Oklahoma properties, providing us with several years of drilling inventory at our current drilling rate.
• Stable, Producing Asset Base
We own an operated asset base comprised of long-lived reserves. All of our reserves are located in Texas, Kansas and Oklahoma. We expect these properties to produce stable cash flows to fund our development, exploitation and exploration opportunities.
• Operated Asset Base
We operate or jointly operate all of our properties. By maintaining operating control, we are able to more effectively control our expenses, capital allocation and the timing and method of exploitation and development of our properties.
• Low Cost Structure
Through our focus on older, mature production areas where production histories, reservoir evaluations and other data is already available combined with the reserve potential in our operating areas, and our technical and drilling expertise we expect relatively low finding and development costs.