As we bring on new productions in the Giddings Field in the Haskell County, Oklahoma over the next few weeks and as our Delhi production continues to grow, our cash flow and bottom line should improve substantially, obviously subjected to commodity prices.
Now, let me give an update on our various projects. At Delhi, we realized a 37% increase in production volumes. They totaled 6266 net barrels of oil in second quarter as more of the producer wells in initial Phase I respond to injected CO2, these volumes continue to grow and we expect to see much higher sales volume in Q3 based on production today that we’ve seen in Q3 of ‘011.
We are also pleased that the first CO2 injections in Phase II began in late December. The Phase II is more than doubled the size of Phase I in terms of total number of wells. We should see production as far as for the Phase II later this year. Phase III, which is similar in size of Phase II is being installed in the field down to 2011 and the remaining two Phases IV and V will similarly follow. Our independent reservoir engineer has agreed with us but there is a good potential for expanding the project other reservoirs within the year. As previously announced we have 9.4 million barrels of approved reserves and 5.7 million barrels of probable reserves obviously all 100% oil and a third of that is coming from our non-cost-bearing royalty interest. We currently expect not to bear any capital expenditures associated with accrued reserves. At Giddings Field, our production experienced normal decline, first what has been a temporary loss of production from one well. The overall production from the 10n wells was about 51% oil and natural gas liquids.
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