Forward Looking Statements
All statements, other than historical ﬁnancial information, may be deemed to be forward-‐looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements that address activities, outcomes and other matters that should or may occur in the future, including, without limitation, statements regarding the ﬁnancial position, business strategy, production and reserve growth and other plans and objectives for the company’s future operations, are forward-‐looking statements. Although the company believes the expectations expressed in such forward-‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may diﬀer materially from those in the forward-looking statements. The company has no obligation and makes no undertaking to publicly update or revise any forward-‐looking statements. You should not place undue reliance on forward-‐looking statements. They are subject to known and unknown risks, uncertainties and other factors that may aﬀect the company’s operations, markets, products, services and prices and cause its actual results, performance or achievements to be materially diﬀerent from any future results, performance or achievements expressed or implied by the forward-‐looking statements. In addition to any assumptions and other factors referred to speciﬁcally in connection with forward-‐looking statements, risks, uncertainties and factors that could cause the company’s actual results to diﬀer materially from those indicated in any forward-‐looking statement include, but are not limited to: the timing and extent of changes in market conditions and prices for natural gas and oil (including regional basis diﬀerentials); the company’s ability to transport its production to the most favorable markets or at all; the timing and extent of the company’s success in discovering, developing, producing and estimating reserves; the economic viability of, and the company’s success in drilling; the company’s ability to fund the company’s planned acquisitions and capital investments; the impact of federal, state and local government regulation, including any increase in severance taxes; the costs and availability of oil ﬁeld personnel services and drilling supplies, raw materials, and equipment and services; the company’s future property acquisition or divestiture activities; increased competition; the ﬁnancial impact of accounting regulations and critical accounting policies; the comparative cost of alternative fuels; conditions in capital markets, changes in interest rates and the ability of the company’s lenders to provide it with funds as agreed; credit risk relating to the risk of loss as a result of non-‐performance by the company’s counterparties and any other factors listed in the reports the company has ﬁled and may ﬁle with the Securities and Exchange Commission (SEC). For additional information with respect to certain of these and other factors, see any reports ﬁled by the company with the SEC. The company disclaims any intention or obligation to update or revise any forward-‐looking statements, whether as a result of new information, future events or otherwise. The Securities and Exchange Commission has generally permitted oil and gas companies, in their ﬁlings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms “estimated ultimate recovery,” “EUR,”“probable,”“possible, ”and “non-‐proven” reserves, reserve “potential” or “upside” or other descriptions of volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC’s guidelines may prohibit us from including in ﬁlings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the company.