Outlook for 2014 We plan to continue to focus on increasing our oil production in 2014 which could double  from what we produced in 2013. We will not start drilling natural gas wells until we can have high  returns on those projects. Without additional gas drilling, we expect that the strong growth in our  oil production will more than offset the natural gas production declines we are facing to allow us to  have higher revenues and cash flow and be a much more profitable company in 2014. We expect  oil to comprise more than 40% of production in 2014. Currently all of the net wells we plan to drill in  2014 are oil wells and all of our budget will be spent on oil projects. In 2013, we have expanded our  inventory of oil drilling locations by completing bolt-on acreage acquisitions around our Eagle Ford  properties and by acquiring acreage in the East Texas Eagle Ford and the Tuscaloosa Marine shale. A major goal we set for Comstock in 2013 was to improve our balance sheet. We accomplished  that goal and now have a very strong balance sheet after the West Texas divestiture. We were able to  reduce our debt by $425 million in 2013 while at the same time investing in new acreage that will fuel  our future growth. We entered 2014 with over $400 million in liquidity and strong cash flow growth  which will fund our drilling program. The strong balance sheet and the profitable outlook for 2014 allowed us to declare our first  dividend on our common stock in June 2013. Beginning in June we have paid a quarterly dividend of  12.5¢ per share. The directors and management of Comstock want to thank the stockholders for their continued  support. M. Jay Allison Chairman and Chief Executive Officer Oil Production MBbls per day 2011 2012  2013 2.3 4.9 6.3 Proved Oil Reserves MBbls 2011 2012  2013 13,234 18,899 21,976