CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS The information contained in this report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are identified by their use of terms such as “expect,” “estimate,” “anticipate,” “project,” “plan,” “intend,” “believe” and similar terms. All statements, other than statements of historical facts, included in this report, are forward-looking statements, including statements mentioned under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” regarding: Any or all of our forward-looking statements in this report may turn out to be incorrect. They can be affected by a number of factors, including, among others: 2 • hostilities in the Middle East and other sustained military campaigns and acts of terrorism or sabotage that impact the supply of crude oil and natural gas. • our ability to retain key members of our senior management and key employees; and • general economic conditions, status of the financial markets and competitive conditions; • changes in regulatory requirements; • our ability to satisfy future capital requirements; • our ability to discover or acquire additional reserves; • the availability of rigs, equipment, supplies and personnel; • our ability to effectively market our oil and natural gas; • the usual hazards associated with the oil and natural gas industry, including fires, well blowouts, pipe failure, spills, explosions and other unforeseen hazards; • our ability to successfully identify, execute or effectively integrate future acquisitions; • the numerous uncertainties inherent in estimating quantities of oil and natural gas reserves and actual future production rates and associated costs; • the timing and success of our drilling activities; • the volatility of prices and supply of, and demand for, oil and natural gas; • the risks described in “Risk Factors” and elsewhere in this report; • amount and timing of future production of oil and natural gas; • the availability of exploration and development opportunities; • amount, nature and timing of capital expenditures; • the number of anticipated wells to be drilled after the date hereof; • our financial or operating results; • our cash flow and anticipated liquidity; • operating costs including lease operating expenses, administrative costs and other expenses; • finding and development costs; • our business strategy; and • other plans and objectives for future operations.