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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