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Lone Pine Resources Announces Financial And Operations Update, Second Half 2011 Guidance And Executive Appointments

Financial Highlights

The following supplemental information summarizes certain estimated financial and operational information for the three months ended June 30, 2011 and March 31, 2011:
Three Months Ended
June 30, 2011     March 31, 2011
Estimated Actual
Average Daily NRI Sales Volumes
Oil (Bbls/d) 2,800 - 2,900 1,711
NGLs (Bbls/d) 200 - 220 222
Natural Gas (MMcfe/d) 74 - 78 72
Total Daily Production (MMcfe/d) 92 - 97 84
Average Daily Working Interest Sales Volumes
Oil (Bbls/d) 3,100 - 3,300 1,989
NGLs (Bbls/d) 250 - 300 311
Natural Gas (MMcf/d) 80 - 82 76
Total Daily Production (MMcfe/d) 100 - 104 89
Royalties (%) 7 - 9% 6%
Net Operating Costs (US$/Mcfe) $1.50 - $1.60 $1.65
E&D Capital Expenditures (US$MM) $27 - $30 $77

Operational Highlights

Peace River Arch – Evi Light Oil Play

Lone Pine holds approximately 50,400 gross and 43,500 net acres in the Evi light oil play in north central Alberta, Canada. This area provides a significant horizontal development opportunity for premium-priced light oil.

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