2003

Page 13

0perational Summary

2003 Gross Proved Plus Probable Reserves

Proved* plus Probable Reserves

2003 Average Production

(mboe)

(boe/d)

% of Total Production

Netback ($/boe)

Central Alberta Caroline Swan Hills Gas Unit No. 1

2,190

2,190

1,336

2.5

25.39

Brown Creek

2,261

2,261

1,218

2.2

28.96

Sundre

7,156

7,156

1,146

2.1

21.22

Medicine River

4,612

4,616

1,136

2.1

22.82

Garrington

2,628

2,629

817

1.5

22.57

Other

11,650

11,815

4,263

7.8

23.45

Central Alberta

30,497

30,667

9,916

18.2

23.99

Jenner

15,259

15,260

2,105

3.9

27.36

Hatton

12,892

12,891

1,998

3.7

29.03

Brooks

5,434

5,435

1,718

3.2

25.06

Grassy Lake

2,272

2,272

781

1.4

16.69

Retlaw

1,425

1,459

601

1.1

20.85

Other

12,230

13,645

2,836

5.2

22.98

SE Alberta/SW Saskatchewan

49,512

50,962

10,039

18.5

24.84

18,805

18,804

3,727

6.9

24.08

5,516

5,525

2,050

3.8

19.71

24,794

24,794

1,616

2.9

20.77

SE Alberta/SW Saskatchewan

Northern Alberta & BC Ante Creek Pouce Coupe Dawson Swan Hills

6,607

6,607

1,223

2.2

19.11

Chinchaga

2,244

2,244

746

1.4

21.30

Other

26,550

27,528

8,194

15.1

22.50

Northern Alberta & BC

84,516

85,502

17,556

32.3

22.06

SE Saskatchewan Lougheed

10,648

10,677

2,921

5.4

22.43

Weyburn

10,357

10,363

1,578

2.9

22.58

Midale

6,558

6,558

1,185

2.2

21.53

Oungre

5,314

5,314

704

1.3

17.56

Alida

1,231

1,231

642

1.2

29.42

Other

10,455

10,468

2,441

4.5

19.91

SE Saskatchewan

44,563

44,611

9,471

17.5

21.80

Pembina MIPA

11,996

12,007

1,586

2.9

23.24

Berrymoor Cardium Unit

7,509

7,579

648

1.2

26.36

Minehead

4,114

4,114

628

1.2

22.48

Lindale Cardium Unit

2,824

2,829

452

0.8

27.20

Ansell

1,079

1,080

377

0.7

21.85

Other

9,858

10,353

3,662

6.7

24.13

37,380

37,962

7,353

13.5

24.07

Pembina *

The estimate of reserves for individual properties may not reflect the same confidence level as estimates of reserves for all properties, due to the effects of aggregation.

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