text: *Our shareholders will*
  *benefit from our exposure*
  *to some of the highest*
  *quality US shale acreage*
  *and production in the*
  *Eagle Ford along with*
  *our leading cost structure*
  *and strong balance sheet.*
  
  While the supply reaction is well under way, demand continues to grow with the economy 
  (net of efficiency improvements) meaning that, like often in history, market fundamentals 
  will ultimately come back into balance and beyond, resulting in a period of under-supply 
  and, therefore, higher than normal prices. While this scenario seems likely as a historical 
  matter, it is also virtually impossible to predict timing with any degree of accuracy. 
  Fortunately, since US shale is not the marginal cost barrel in the long term, it will survive, 
  become more efficient, and outperform in when prices ultimately recover. 
  
  Our shareholders will benefit from our exposure to some of the highest quality US shale 
  acreage and production in the Eagle Ford along with our leading cost structure and 
  strong balance sheet. While prices are down, we intend to invest capital in development 
  opportunities with reasonable returns and to maintain leases and sustain production 
  levels while protecting our balance sheet and patiently increasing the size and quality of 
  our drilling inventory. 