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## 2011 buDGet ARC’s oppoRtunItIes 

<img src='content_image/190251.jpg'>

<img src='content_image/190249.jpg'>

* INCLUDES CORPORATE $26.7MM 

## By tHe nuMBers 

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1. Well counts are taken on a gross operated basis 2. Based on proved plus probable reserves 

before royalties 3. rli is calculated based on forecast 2011 

production numbers 4. 

rli was calculated excluding 14.2 mmboe p+p reserves relating to assets divested in January 2011 and included in the year-end 2010 reserves evaluation. 

## 2010 ACtuAl 

